Home

When companies raise funds from the public markets for the first time, it is called an IPO. In a traditional IPO, Investment Banks act as a broker/middlemen between the companies and the investors. These brokers are the underwriters and create a market for the company shares in addition to other services. This is all done prior to the company shares getting listed on the exchange such as NASDAQ or NYSE.

Direct Listing, on the other hand, is an alternative listing process of company shares. Here companies bypass typical underwriting processes and instead list on the exchange directly. Many companies such as Coinbase, Palantir, Sofi, etc. have chosen to list directly on the exchanges.

PrimaryBulls is a financial technology platform connecting companies seeking fundraising in capital markets to investors. Our platform enables companies to reach individual investors and wealth managers directly. It also lowers the cost of their fundraising significantly in both traditional IPOs and Direct Listings. 

To the investors, it enables them to participate in new IPOs on equal terms with the institutional investors and large banks.

All investors can participate in IPOs through PrimaryBulls. The only exceptions are investors associated with a broker dealer, their immediate family members or directors of public companies, etc. as defined by FINRA Rules 5130 and 5131.

Like common shares, investment in IPO shares too is considered speculative and risky, and may not be appropriate for every investor. PrimaryBulls provides details of the IPO including forms and filing with SEC, the financial disclosures, etc. Investors can review the company disclosures and filing details prior to investment in any specific IPO.

You can participate in IPOs on primaryBulls by following these steps:

1. Browse IPOs

2. Review company and disclosures

3. Register an Interest/Place Order

4. PrimaryBulls will followup on share allocation and deposit into your choice of account (PrimaryBulls or your linked brokerage account)

Note: IPO/Listing price may change from the initial price/range at the time of registering an interest. PrimaryBulls customers can edit or cancel their orders until after final IPO pricing.

The allocation of shares is dependent on the orderbook and demand. When demand in orders for the number of shares is greater than the total number of IPO shares, the allocation of shares may be reduced for customers. Customers may get the full number of shares requested, a partial amount, or none at all. PrimaryBulls ensures all customer orders are treated equally (as long as they meet investment conditions of the IPO company. For example: minimum order criteria if specified).

Flipping implies selling IPO shares within a few days of receipt (often for a quick profit) after the IPO listing date. IPO companies through PrimaryBulls platform may discourage flipping by limiting/not allocating IPO shares to customers who have flipped shares in the past. See the SEC's Investor Bulletin to learn more about "flipping" and investing in an IPO.