There is an increasing trend among Japanese startups to opt for Nasdaq listing over domestic exchanges with the aim of achieving a higher valuation from a tech-savvy investor base, whilst also facing less stringent listing standards. This trend is generating a consistent flow of work for U.S.-based law firms such as Greenberg Traurig.
Greenberg Traurig, which has a global presence with 34 U.S. offices and a Tokyo office equipped with 20 Japan-qualified lawyers, has recently acted for Pixie Dust Technologies Inc. This company, which specializes in sound, light, and electromagnetic wave measuring technology, raised $15 million through an initial public offering on the Nasdaq. The underwriter for the IPO, Boustead Securities, was advised by Loeb & Loeb on U.S. federal securities and New York state law.
According to a Tokyo-based Greenberg Traurig lawyer, deep technology, life science, and biotechnology companies in Japan have expressed their comfort in communicating with U.S. investment banks or U.S. stock exchanges like Nasdaq.
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