Public Market Advisory

IPO Advisory for
Small Cap Companies

OAKRG guides small and mid-cap companies through every stage of the IPO process — from readiness assessment to investor roadshow, pre-IPO financing, and exchange listing on US, Canadian, and international exchanges.

Start the Conversation What We Do
$5M–$100M+
Pre-IPO & IPO Capital
Multi-Exchange
NYSE, NASDAQ, TSX & More
Full Cycle
Readiness to Post-IPO
Capital Solutions

How We Help

OAKRG connects companies with private investors, family offices, and institutional capital. We structure the right solution and make the right introductions.

01

IPO Readiness Assessment

We evaluate your financial statements, governance structure, growth story, and market positioning to determine IPO readiness and identify gaps.

02

Pre-IPO Capital Raising

Raise pre-IPO bridge capital, PIPE financing, or strategic investor rounds to fund growth and strengthen your balance sheet before going public.

03

Investor Narrative & Story

We help craft a compelling investor story — financials, market opportunity, competitive positioning, and management credentials — for your prospectus and roadshow.

04

Underwriter & Broker Introductions

We introduce you to boutique investment banks, broker-dealers, and underwriters experienced in small cap IPOs on US and Canadian exchanges.

05

Exchange Selection Strategy

Guidance on the right listing venue — NYSE American, NASDAQ, TSX, TSXV, or other exchanges — based on your sector, size, and investor audience.

06

Reverse Merger & SPAC Alternatives

Evaluate reverse takeover (RTO) and SPAC merger alternatives as faster or more cost-effective paths to public market status.

Who We Serve

Clients & Use Cases

We work across sectors, stages, and geographies — connecting the right businesses with the right capital at the right time.

Mining & Resources

Junior miners and resource companies listing on TSXV, NYSE American, and other resource-focused exchanges.

Cleantech & Energy

Renewable energy, battery, and clean technology companies accessing public capital markets.

Fintech & Technology

Growth-stage fintech and software companies seeking NASDAQ or NYSE listings.

Healthcare & Biotech

Clinical-stage and commercial healthcare companies pursuing public market capital.

Defense & Aerospace

Defense technology and aerospace companies going public on US exchanges.

Real Estate & Infrastructure

Real estate companies and infrastructure platforms structured for public market listings.

Our Process

How OAKRG Works

A disciplined, relationship-driven process. We don't blast deals — we make curated introductions to capital sources with active mandates matching your need.

01

IPO Readiness & Gap Analysis

Financial audit preparation, governance review, equity story development, and exchange selection. Identify and close gaps before launching a process.

02

Pre-IPO Capital & Underwriter Selection

Raise pre-IPO financing, engage underwriters or placement agents, and begin prospectus drafting.

03

Prospectus Filing & Regulatory Review

SEC or securities commission review, prospectus amendments, and exchange application. OAKRG coordinates across advisors.

04

Roadshow, Pricing & Listing

Investor roadshow support, order book strategy, pricing negotiation, and first day of trading. OAKRG remains engaged through listing and into the aftermarket.

FAQ

Frequently Asked Questions

IPO advisory for small cap companies covers the full process of preparing a private company for a public listing — from readiness assessment and financial restructuring through to exchange selection, prospectus preparation, investor roadshow, and listing. For small cap companies (typically $20M–$300M market cap), this process requires specialist advisors who understand the unique requirements of smaller listings on exchanges like ASX, TSX-V, AIM, or Nasdaq Small Cap.
A small cap IPO typically costs 5–10% of total funds raised in underwriting and placement fees, plus $300K–$1.5M in legal, accounting, and advisory fees depending on jurisdiction and complexity. ASX and TSX-V listings typically cost less than Nasdaq or NYSE listings due to regulatory differences.
From the decision to list to trading day, a small cap IPO typically takes 9–18 months. This includes financial audit preparation (2–3 years of audited accounts required), prospectus drafting (3–6 months), regulatory review (1–3 months), and investor roadshow (4–8 weeks). Reverse merger or RTO (reverse takeover) structures can compress this timeline to 3–6 months.
A reverse takeover (RTO) or reverse merger involves a private company acquiring a listed shell company, effectively going public without a full IPO process. RTOs are faster and cheaper than traditional IPOs but typically raise less capital at listing and may carry reputational baggage from the shell's history. They work best when speed to listing is the primary objective and upfront capital raising is secondary.
The most common exchanges for small cap listings include: ASX (Australia) for resources, mining, and tech; TSX Venture Exchange (Canada) for resources and early-stage companies; AIM (London) for international small caps with European investor exposure; and Nasdaq Small Cap Market / NYSE American for US-focused companies. Exchange selection depends on sector, investor base, and jurisdiction.
Requirements vary by exchange. ASX requires either a profit test (aggregated net profit of $1M over 3 years) or an asset test ($4M net tangible assets or $15M market cap at listing). TSX-V has lower thresholds. Nasdaq requires a minimum $5M in stockholders' equity and 300+ shareholders. All exchanges require 2–3 years of audited financial statements.
An investor roadshow is a series of presentations and one-on-one meetings with institutional investors, fund managers, and brokers held in the weeks before an IPO. The company's management team presents the investment case, financial projections, and growth strategy to potential shareholders. A successful roadshow builds the investor book — commitments to purchase shares at listing — that enables the IPO to be priced and completed.
Yes, particularly on ASX and TSX-V, where many resource exploration and biotech companies list before revenue. These listings rely on the asset test rather than profitability, and investors are buying future potential. However, pre-revenue companies face higher scrutiny on use of funds and must have a credible path to either revenue or further development milestones.
In a traditional IPO, new shares are issued and sold to investors, raising primary capital for the company. In a direct listing, existing shareholders sell their shares on the exchange without issuing new stock — no new capital is raised, and no underwriter is involved. Direct listings suit large, well-known companies; for small caps raising growth capital, a traditional IPO is almost always more appropriate.
OAKRG provides IPO readiness assessment, exchange and jurisdiction selection advice, introduction to lead managers and brokers, pre-IPO capital raising (to fund preparation costs and build a cornerstone investor base), and advisory support through the listing process. We work alongside legal and accounting firms rather than replacing them.
A pre-IPO raise (or pre-IPO placement) is a private capital raise completed 3–18 months before listing, typically at a discount to the expected IPO price (15–30%). Pre-IPO capital funds preparation costs and secures cornerstone investors who will anchor the IPO book. OAKRG frequently arranges pre-IPO placements for companies preparing to list.
Get Started

Ready to
Go Public?

OAKRG specializes in small cap IPO advisory. Tell us about your company and we'll assess your IPO readiness — confidentially and at no initial cost.

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