International [and U.S.] Company Access to U.S. Capital Markets

My full service SEC law firm has helped many companies, both foreign and domestic] go public and access the capital markets in the United States.

Here are some things you should know about going public in the U.S.

On Which U.S. Capital Market Should You Seek Your Listing?

You have seven U.S. capital markets on which you can seek your listing. They are:

  • OTC Markets
    • OTCQX
    • OTCQB
    • OTC Pink
  • NASDAQ OMX Group
    • NASDAQ Global Select Market
    • NASDAQ Global Market
    • NASDAQ National Market
  • NYSE Euronext
    • NYSE Amex Equities
    • NYSE

The Pink Sheets and OTC Bulletin Board are called non-listed markets. The remaining five markets are called listed markets.

What is the difference between a non-listed and a listed trading market?

Listed trading markets including NASDAQ and the registered exchanges, such as NYSE or NYSE AMEX Equities have specific listing and maintenance standards, which are stringently monitored and enforced. Companies listed on a stock market have reporting obligations not just to the SEC but also to the market itself. Companies trading on a listed market have on-going regulatory relationship with the market itself. OTC quotation services including OTCBB, Pink Sheets merely facilitate quotation of unlisted securities.

Your stock is technically not “listed” in the  three OTC Markets. Your stock is merely “qualified for quotation.”


The OTCQB Market is essentially the same as the OTC Bulletin Board, just run by a separate corporation.


The OTCQX Market has the same requirements as the OTCQB and the OTC Bulletin Board, plus the following requirements:

  • Ongoing operations (no shells, blank check or special purpose acquisition companies);
  • A minimum bid price of $0.10 (for preceding 90 business days);
  • The company may not be subject to any bankruptcy or reorganization proceedings;
  • The company must be duly organized, validly existing and in good standing under the laws of each jurisdiction in which the company is organized;
  • At least 50 beneficial shareholders, each owning at least 100 shares of the Company’s common stock;
  • Ongoing quarterly and audited annual financial reports posted on, a premier website for qualifying companies (SEC Registered issuers can use EDGAR); and
  • Inclusion in the Standard & Poor’s Corporation Records or Mergent Manuals (fka Moody’s Manuals), which satisfies the Blue Sky requirements for secondary transactions in many states, together with a list of any other states in which the security is Blue Sky compliant and eligible to be sold by brokers in those states;
  • DAD Letter of Introduction upon application process completion and quarterly and annually thereafter to OTC Markets Group Inc. confirming that the issuer has made adequate current information publicly available and meets the tier inclusion requirements.

OTC Pink Sheets

The Pink Sheets is a centralized quotation service that collects and publishes market maker quotes for OTC securities in real-time. Pink Sheets is neither an SEC Registered Stock Exchange nor a Broker-Dealer.

The Next Step: Moving Up to a Higher Market

Perhaps you can accomplish your goals by remaining on the Pink Sheets or OTCBB/OTCQB/OTCQX. But if you can’t, you will need to move up to a higher market.

What are the primary higher markets?

  • NASDAQ OMX Group
    • NASDAQ Global Select Market
    • NASDAQ Global Market
    • NASDAQ National Market
  • NYSE Euronext
    • NYSE Amex Equities
    • NYSE

All of these markets have higher standards than OTC Markets including both qualitative and quantitative.  You can find out more if you buy our book Seeking Your Fortune.

Headed by an Ex-SEC Enforcement Attorney Michael T. Williams, Esq.

My full service SEC Law Firm and my world class team of service providers will design and implement the going public solution in the U.S. that is right for you.

As an Ex-SEC Enforcement Attorney, I’ll make sure you stay out of trouble by avoiding potential costly securities law violations in the going public process that could overwhelm you and your company.

Schedule a No-Risk Free Consultation with me right now and I’ll review your going public goals and objectives and give you a Roadmap that shows you the best path for your success.