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 hold measured introductory calls with credible investors who understand micro-cap dynamics. 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 runs a 100-day plan that integrates finance, legal, IR, and growth milestones. 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.