Public Offerings

Independent advice for the public markets, from IPO to rights offering

Going public, and raising capital once you are public, involves some of the highest-stakes decisions a company will ever make: when to go, how to price, which underwriters to trust, and how to raise follow-on capital without punishing the shareholders who got you there. Moody Capital’s senior bankers have guided over 100 companies through the IPO process, and we bring that experience to every stage of a company’s public market life.

One thing makes our advice different: we are on your side of the table. As an advisory-focused investment bank, Moody Capital does not underwrite IPO transactions. We have no allocation book to fill, no syndicate economics to protect, and no incentive to tell you the market is open when it is not. Companies engage us precisely because our only interest is theirs.

How we help

IPO feasibility analysis.

Before a company spends a year and millions of dollars pursuing a listing, it deserves an honest answer to the threshold question: is an IPO achievable, and is it the right move? We assess your financial profile, comparable company valuations, market conditions, and listing requirements, and deliver a candid feasibility view, including the timeline and cost of getting IPO-ready.

Choosing lead underwriters.

The underwriter selection process is stacked with information asymmetry: every bank pitching you does this constantly, while you may do it once. We level the field. We help you run the bake-off, evaluate the banks’ true distribution capabilities and aftermarket support records, negotiate the gross spread and lock-up terms, and assemble a syndicate that serves the company rather than the banks.

Pre-IPO crossover financing.

For companies that need capital before a listing, we advise on crossover rounds that bring public-market investors onto the cap table early, building the institutional shareholder base and valuation support that make the eventual IPO stronger.

Deal and non-deal roadshows.

Whether you are marketing an offering or simply building investor awareness between transactions, we help you craft the story, target the right institutions, and manage the meetings. Non-deal roadshows keep your company on investors’ radar so that when you do raise, you are not introducing yourself for the first time.

IPO alternatives.

A traditional IPO is one door to the public markets, not the only one. We advise on reverse mergers into existing public companies, Regulation A offerings that build toward a listing, and direct listing strategies, with clear-eyed guidance on the costs, risks, and aftermarket realities of each path.

ATM equity offerings.

For listed companies with an effective shelf registration, an at-the-market program offers the quietest way to raise: shares sold incrementally into the existing trading market at prevailing prices, with no discount, no roadshow, and no announcement-day pressure on the stock. The company controls the timing and the amount, selling only when prices and volume justify it. We advise on structuring and establishing ATM programs, from shelf strategy and agent selection to the pacing decisions that determine whether a program builds capital or wears out a stock, and, where engaged, serve as a distribution agent.

Registered rights offerings and the MMR.

Once public, companies face the follow-on question: how to raise equity without handing outsiders a discount at your shareholders’ expense. Moody Capital pioneered an innovative multi-tranche Registered Rights Offering structure, the Moody Managed Rights (MMR) offering, which empowers micro-cap public companies to raise equity from existing shareholders on favorable terms, with flexibility across multiple tranches and minimal dilution to holders who participate. It reflects our core commitment: customized financing aligned with long-term shareholder value.