The Long Term Stock Exchange (LTSE), a strategic partner with Orrick since its inception, has received regulatory approval from the Securities and Exchange Commission. The milestone enables LTSE to become an exchange for publicly traded companies.
Led by partner John Bautista, an LTSE co-founder and one of its directors, Orrick has forged a close relationship with LTSE, which has been developed to encourage a long-term focus for businesses and their investors, and has built a Long-Term Investor Coalition comprised of institutional investors committed to creating value over time.
“Our vision is that companies in every industry will be able to go public while continuing to prioritize and pursue strategies for long-term success,” LTSE CEO and founder Eric Ries said in a statement announcing the SEC approval.
Orrick’s work with LTSE is part of the firm’s broader vision of creating legal innovations for founders, including our launch last year in collaboration with LTSE of IPO Ready, an online tool to prepare tech startups for an IPO. That effort has been guided by our Technology Companies Group and Capital Markets Practice.