Why Private Companies Consider Going Public
In this episode of The SPAC Podcast, Patrick Sturgeon, Managing Partner at Brookline Capital Markets, explains why many private companies ultimately choose to go public. He highlights how listing on exchanges like the NYSE or NASDAQ can provide existing shareholders with liquidity, attract new types of investors, and expand access to capital.
Patrick also discusses how being public can increase transparency, research coverage, and visibility in the capital markets — making it a natural progression for companies seeking growth and broader investor participation.
Connect with the Guest:
Patrick Sturgeon – Managing Partner, Brookline Capital Markets
Website: https://brooklinecapmkts.com/
LinkedIn: https://www.linkedin.com/in/patrickasturgeon/
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Michael Blankenship LinkedIn: https://www.linkedin.com/in/mikeblankenship/
Joshua Wilson LinkedIn: https://www.linkedin.com/in/joshuabrucewilson/
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Disclaimer:
Michael J. Blankenship is a licensed attorney and is a partner at Winston & Strawn LLP. Joshua Wilson is a licensed Florida real estate broker and holds FINRA Series 79 and Series 63 licensure. The content of this podcast is intended for informational and educational purposes only and should not be interpreted as legal, financial, or compliance advice. The views and opinions expressed by the hosts and guests are their own and do not necessarily reflect the official policies or positions of any regulatory agency, law firm, employer, or organization.
Listeners are encouraged to consult their own legal counsel, compliance professionals, or financial advisors to ensure adherence to applicable laws and regulations, including those enforced by the SEC, FINRA, and other regulatory bodies. This podcast does not constitute a solicitation, offer, or recommendation of any financial products, securities transactions, or legal services.
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👉 Michael J. Blankenship - https://www.linkedin.com/in/mikeblankenship/
👉 Joshua Bruce Wilson - https://www.linkedin.com/in/joshuabrucewilson/
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Michael: Well, let’s start with the basics. Should a private company consider going public in the first place?
Patrick Sturgeon: Sure. For most companies, the natural progression in maturity is to move from being a private company into becoming a public company. The advantage is it allows some of their existing shareholders an opportunity to get liquidity more easily.
In the United States, on the NYSE and NASDAQ, we have very deep pools of liquidity that can allow existing investors to potentially exit and also bring new investors in. Our public markets provide many opportunities for investment.
Going public helps companies by providing liquidity and access to new sources of capital — whether from fundamental investors who only invest in public companies or from the retail community. Public companies also attract more research coverage and transparency, which can make them more appealing to investors.
Patrick A. Sturgeon
Managing Partner
Patrick Sturgeon is a Managing Partner at Brookline Capital Markets, a division of Arcadia Securities, LLC, a Healthcare focused investment bank which provides capital raising, M&A, and strategic advisory services. He has completed a diverse series of transactions to include Initial Public Offerings, PIPEs, Follow-Ons, Private Placements from Series A through Private-to-Public Crossovers, Asset Back Lending, Buy & Sell-Side Merger Advisory, Secondary Trading and Strategic Advisory Services. He is asked to speak at events on topics to include the equity capital markets, the healthcare industry and transaction execution.
He has been the Chief Financial Officer of three biotech focused SPACs that have successfully closed acquisitions – Alpha Healthcare Acquisition Corp. (Humacyte (NASDAQ: HUMA) – first company to have RMAT designation), Alpha Healthcare Acquisition Corp. III (Carmell Corp. – Platelet-rich plasma (PRP) therapeutic focused on wound healing) and Brookline Capital Acquisition Corp I (Apexigen – Oncology focused). He continues to serve as Vice Chairman to the public company Longevity Health Holdings (NASDAQ: XAGE).
As a Founding Partner of Covenant Venture Capital, Mr. Sturgeon has led investments in prominent companies like Anduril, Anthropic, EpiBone, Dataminr, SpaceX and others, demonstrating his strategic investment acumen across high growth sectors such as artificial intelligence, biotech, data analytics and defense. He led the process to have Covenant confirmed as a Qualified Venture Fund for NJEDA which allows them to receive matching inve…
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