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What Should Happen in the First 100 Days After a Direct Listing or Reverse Merger?
The first 100 days set the tone for valuation, liquidity, and credibility. Internally, close the books on your first public quarter with public-company discipline: disclosure controls, audit committee cadence, and a realistic earnings calendar. Externally, you need a thoughtful investor communications rhythm that respects Reg FD, avoids hype, and gives the market a reason to pay attention beyond “we listed.”
Operationalize governance and reporting: formalize committee charters, adopt insider trading policies, finalize whistleblower channels, and stand up a disclosure committee. On the finance side, stabilize close processes, lock accounting policies (especially business combination and revenue recognition), and align KPIs with MD&A language. Your first 10-Q is where discipline becomes visible; aim for clarity over spin.
In the market, build credibility through substance: launch a compact IR site, publish a clean investor presentation, and have management hold measured introductory calls with investors who understand micro-cap companies. Avoid the temptation to “manufacture” liquidity with promotional vendors, Section 17(b) and 10b-5 risk is real. Instead, sequence product/customer milestones and thoughtful updates that show operating progress. Prepare for volatility; it’s normal in thin floats.
Meraki Partners helps the company plan its first 100 days across finance, legal, investor communications and growth milestones, while the company leads its own investor conversations. The goal is a founder who looks and operates like a seasoned public CEO on day 100, not someone still learning the rules in public.
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