“Going public for the sake of going public is not really an optimal thing. You’re going public because as a company you believe it is the right thing to do and it will benefit the ability of the company to achieve its long-term objectives.” — Jeff Weiner, CEO LinkedIn
Last week, we began discussing possible options and strategies for taking your small business public. Today we’re looking at another important exchange where you can publicly list: NYSE MKT, formerly known as The American Stock Exchange. 
NYSE MKT is the leading exchange for small-cap companies who, upon acceptance, can benefit from a fully integrated trading platform that uses the same high-tech/high touch market model as the New York Stock Exchange. It is designed to support younger, high-growth companies — the kind I love working with and advising.
NYSE MKT is actually one of several exchanges listed on the New York Stock Exchange, and they should not be confused with each other. Through the strategic combination of the former American Stock Exchange’s different markets, companies are supported across the spectrum – from younger, high-growth businesses to blue-chip firms.
Just as with the NASDAQ, you can’t just fill out a standard application and walk in. NYSE MKT has an intricate qualifying process, as you’ll see below.
This is a brief overview of course, but it should be able to help you initially determine whether you’re ready to list on the NYSE MKT — and if you’d even qualify.
A company may choose any of the following four initial listing standards just to break the ice with NYSE MKT.
INITIAL LISTING STANDARD 1
(1) Size—Stockholders’ equity of at least $4 million.
(2) Income—Pre-tax income from continuing operations of at least $750,000 in its last fiscal year, or in two of its last three fiscal years.
(3) Distribution—See Section 102(a).
(4) Stock Price/Market Value of Shares Publicly Held—See Section 102(b).
INITIAL LISTING STANDARD 2
(1) History of Operations—Two years of operations.
(2) Size—Stockholders’ equity of at least $4 million.
(3) Distribution—See Section 102(a).
(4) Aggregate Market Value of Publicly Held Shares—$15 million.
(5) Stock Price/Market Value of Shares Publicly Held—See Section 102(b).
INITIAL LISTING STANDARD 3
(1) Size—Stockholders’ equity of at least $4 million.
(2) Total Value of Market Capitalization—$50 million.
(3) Aggregate Market Value of Publicly Held Shares—$15 million.
(4) Distribution—See Section 102(a).
(5) Stock Price/Market Value of Shares Publicly Held—See Section 102(b).
INITIAL LISTING STANDARD 4
(1) Total Value of Market Capitalization—$75 million; or
Total assets and total revenue—$75 million each in its last fiscal year, or in two of its last three fiscal years.
(2) Aggregate Market Value of Publicly Held Shares—$20 million.
(3) Distribution—See Section 102(a).
(4) Stock Price/Market Value of Shares Publicly Held—See Section 102(b).
Click here for the full overview of listing requirements for NYSE MKT. There you will also find Section 102(a) and (b), which are referenced in all four listing standards.
If you glance at the above and feel you satisfy one of these standards, this is where Brinen & Associates can come in. We’ve helped several companies go public and understand that the journey to get that 3 or 4-letter listing on a ticker does not come easy. NYSE MKT can be selective on which companies make it to the list — even if you meet the financial criteria. Don’t think it’s stopping at your books in lieu of a background check.
Contact us to discuss your NYSE MKT options and if it’s the right exchange for you. Our next installment will diagnose whether you need a prescription for Over The Counter markets.