Late-Stage Startup Liquidity: Overview | Practical Law
An introduction to the methods that late-stage startup companies use to provide early investors, founders, and employees with liquidity for their shares while the companies remain privately held. This Practice Note examines changes in the public and private capital markets that have motivated startups to delay their IPOs and instead seek different ways of providing liquidity to their stockholders, such as by facilitating orderly negotiated secondary sales and private tender offers of their capital stock (including structured liquidity programs).