A Slack IPO is getting closer with the company moving forward with its plans.
Here are a few things to know about the Slack IPO.
- Slack has announced that it has made a confidential filing with the U.S. Securities and Exchange Commission concerning its public offering.
- This comes in the form of a draft registration statement on Form S-1 and includes its planned listing details for its Class A stock.
- However, the details of this filing are still unknown due to its confidential nature.
- What we do know is that it doesn’t look like Slack will be favoring a typical IPO.
- Instead, it seems like the company is planning to go forward with a direct listing of its stock.
- A direct listing is rare, but it has been done before by Spotify (NYSE:SPOT).
- An inside source says Slack is going this route because it doesn’t need the publicity or cash from a normal IPO.
- It’s also still unknown when exactly the Slack IPO will take place.
- All the company says in its press release is that it will start after the U.S. Securities and Exchange Commission competes the review process.
- The company also notes that market conditions and other factors may play a part in when the offering will occur.
- Goldman Sachs, Morgan Stanley and Allen & Co. are all reportedly working with Slack on its IPO plans.
As of this writing, William White did not hold a position in any of the aforementioned securities.