In the Press
April 13, 2023

Tuesday Is the New Monday for Stock Sales as Uncertainty Reigns (Bloomberg Law)

As secondary public offerings get harder to push across the line, the bankers managing the sales are having to change their working week. The newly widespread practice of using confidential talks with key investors to promote sales is pushing the public launch of deals from Monday to later in the week. The shift was apparent on Tuesday, when at least four offerings launched after the market closed, making it the busiest night in several weeks. Just one offering launched on Monday. “Everyone is cautious about the market and sees a need to spend more time premarketing, so you’re seeing some deals launch midweek,” Life Sciences partner Rachael Bushey said to Bloomberg Law. “People then have more confidence about what it’s going to look like.”