Late Stage Private Placement

Generally, a private placement or exempt offering undertaken by a privately held company that is in a growth stage, which already has an established business (with customers, products, services, etc.) and is approaching a liquidity event, which may take the form of an initial public offering, a merger or sale, a direct listing, or an initial business combination with a special purpose acquisition company. Often, a “late stage,” or mezzanine, private placement is one that is undertaken 24 to 36 months prior to such a liquidity event and that includes crossover funds as investors.