Private Company Secondary Auctions

offer a centralized platform for competitive price discovery and transparency

This Solution Helps

  • Private Companies
  • Founders
  • Individual Investors
explore
NYMR

Learn more about NPM's record-breaking first half by downloading the mid-year report here.

Nasdaq Private Market (NPM) uses its legal expertise and experience with secondary trading to set up and facilitate auction-style bidding processes for private company shareholders and investors. With companies staying private longer and dry powder continuing to remain at all-time high levels, NPM addresses the growing liquidity demands of the private market with a secondary auction format that provides competitive pricing and potentially allows company shareholders to be more involved in the transaction itself.

NPM has facilitated
500+
Liquidity Programs Since Its Inception
(includes data from current and former affiliates)
NPM card
Nasdaq Private Market 2021 Mid-Year Report
Read our new First-Half Private Company Report on the predominant trends and themes in the private company secondary market.
READ THE REPORT
NPM has facilitated
500+
Liquidity Programs Since Its Inception
(includes data from current and former affiliates)

Benefits of Secondary Auctions

Competitive Price Discovery

Companies that run auctions may benefit from competitive price discovery from sophisticated, institutional buyers, which generally leads to more transparent clearing price calculations.

Customizable Auction Parameters

Auctions provide the same level of customization, if not higher, than standard private company tender offers. Companies can name price floors and ceilings, project or limit the amount eligible to be sold in the transaction, and more.

Time to Liquidity

Depending on the structure, companies may be able to carry out company-wide auctions in less time than it takes to hold a traditional tender offer, mainly due to the 20-business day mandatory tender offer window.

Auction Types We Support

Nasdaq Private Market can run a variation of auctions to achieve competitive price discovery.

  • Dutch Auctions

    Bids and asks, if applicable, are placed by buyers and sellers, with one clearing price calculated for all participants.

  • Buy-Side Auctions

    The sell-side demand is projected by the company, placing buyers in a competitive bidding process that is followed by a tender offer.

  • Seller IOI Auctions

    Prior to the transaction, sellers enter their asks for price per share and the number of shares willing to be sold.

  • English Auctions

    The price increases until one bidder is left; the remaining bidder wins and pays the highest bid amount.

  • Customizable Auctions

    Components such as price floor/ceiling, timing of bids/asks, seller eligibility, existing/new buyers, and more can be customized.

Related Private Company Solutions

Nasdaq Private Market Resource Library

  • Nasdaq Private Market 2021 Mid-Year Report

    Whitepaper

    Nasdaq Private Market 2021 Mid-Year Report

    Data is currently not available
  • 2021 First Quarter Private Market Report

    Whitepaper

    2021 First Quarter Private Market Report

    2021 First Quarter Private Market Report

    Data is currently not available
  • Nasdaq Private Market End of Year Report 2020

    Report

    Nasdaq Private Market End of Year Report 2020

    Our annual review of trends, themes and insights into what's driving secondary market activity - is now available.

    Data is currently not available
  • 2020 Mid-Year Private Company Report

    Report

    2020 Mid-Year Private Company Report

    Data is currently not available
  • 2019 Secondary Market Retrospective Infographic Download 2019 Secondary Market Retrospective Infographic
  • Secondary Market 2019 Retrospective

    Whitepaper

    Secondary Market 2019 Retrospective

    Nasdaq Private Market explores unique factors driving the private market, highlighting data NPM has collected as a leading provider of company-sponsored private tender offers and share repurchase programs.

    Data is currently not available
  • 4 Questions to Ask Before Launching a Liquidity Program Download 4 Questions to Ask Before Launching a Liquidity Program
  • State of the Market: What Private Companies Need to Know Download State of the Market: What Private Companies Need to Know
  • The Nasdaq Private Market Buyer Network Download The Nasdaq Private Market Buyer Network
  • 2019 Mid-Year Private Company Report

    Thought leadership

    2019 Mid-Year Private Company Report

    Data is currently not available
  • NPM 2018 Year-End Retrospective

    Thought Leadershp

    NPM 2018 Year-End Retrospective

    Data is currently not available
  • NPM PC Auctions Whitepaper Download NPM PC Auctions Whitepaper

Contact us about secondary auctions

Envision a Future – Fueled by Innovation, Technology and Expertise.
Now, let’s get there. Select below.