US tech-focused exchange with global reach.
6-12 months
$1M-$3M
Premium
Technology and growth companies seeking US capital
Financial requirements
Governance requirements
Public float requirements
SEC filing
Underwriter review
Marketing
Listing
NASDAQ has multiple listing standards (Tier 1 and Tier 2). Standard requirements include: $110M market cap OR $90M revenues OR $60M market cap + $27.5M revenues, positive net income of $11M in last fiscal year or $2.2M in last 3 years, minimum $45M public float (shares held by non-affiliates), and minimum $100M trading volume. Companies must also have 400+ public shareholders, $1 minimum bid price, and meet corporate governance standards including independent board committees. NASDAQ accepts profitable and growth-stage tech companies with strong revenue trajectories.
NASDAQ is known as the "tech exchange" and attracts technology, biotech, and growth companies globally. Key advantages: 40% of global tech IPOs list on NASDAQ, high valuation multiples (3-5x revenue vs 1-2x on TSX/NYSE), strong institutional investor base focused on growth, and high trading liquidity attracting day traders and momentum investors. NASDAQ also offers strong visibility for tech acquisitions and secondary financing. Ticker symbols (4-5 letters vs 1-3 on NYSE) are easier to remember and market.
Yes - Canadian companies frequently list on NASDAQ, either as primary listing or dual-listing alongside TSX. Dual-listing (both exchanges) is common for large Canadian tech companies seeking US institutional capital while maintaining Canadian investor access. Companies must comply with SEC regulations, NASDAQ listing standards, and cross-border securities laws. Many Canadian companies list on NASDAQ for technology companies targeting US venture capital, SaaS companies serving North American markets, or biotech firms needing US regulatory credibility. Total listing costs are typically $1.5M-$3M (higher than TSX but justified by US market access).
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