Another direct listing. Another Nasdaq Opening Bell.
On August 20th, First Breach (Nasdaq: FBDT) rang the Nasdaq Opening Bell following its successful direct listing, marking another milestone for the company.
Lucosky Brookman quarterbacked the transaction from start to finish, helping First Breach navigate the path to Nasdaq and successfully enter the public markets. The transaction marked the firm’s fourth direct listing completed in 2026, further reinforcing LB’s position at the forefront of this rapidly growing pathway to the public markets.
Watch the video below for a behind-the-scenes look at the bell-ringing celebration.
Direct listings are no longer the alternative, they’re becoming part of the new market playbook.
Managing Partner Joseph Lucosky goes beyond the theory and draws on what Lucosky Brookman is seeing from the trenches to break down how today’s direct listings are actually getting done, from financing and valuation to reference pricing and transaction structure.
But getting listed is only half the equation. Joseph also examines what companies need to do before the bell rings to build liquidity, engage investors, and position themselves for long-term success as public companies.
You can hear all of this and more in today's episode of Inside the Emerging Growth Markets.
Listen on Spotify, Apple Podcasts, or YouTube, and subscribe to the accompanying Substack for commentary, market observations, and data-driven analysis.
Eleven Lucosky Brookman attorneys have been recognized in the 2027 editions of The Best Lawyers in America® and Best Lawyers: Ones to Watch® in America, reflecting the depth of talent and experience across the firm.
Joseph Lucosky, Rob Aldrich, Victoria Baylin, Andrew Frost, Mary-Ellen King, Marty Sadler, Willard Shih, Don Taylor, and Brian Webb were recognized in The Best Lawyers in America®, while Amit Hazan and Max Wagner were named to Best Lawyers: Ones to Watch® in America.
Congratulations to all 11 attorneys on this outstanding recognition and their continued commitment to delivering exceptional results.
The Lucosky Brookman team continues to grow. Please join us in welcoming the newest member of the firm:
As the emerging growth markets continue to undergo significant regulatory and structural change, Joseph Lucosky returned to the Water Tower Research podcast to share his perspective from the front lines of the market.
Drawing on his work advising emerging growth companies and capital markets participants, as well as his recent appointment to the SEC’s Small Business Capital Formation Advisory Committee, Joseph discussed Nasdaq’s stayed $5 million continued listing rule, the rise of alternative pathways to the public markets, and the regulatory and exchange developments defining the new market landscape.
The numbers continue to tell the story of a market being reshaped.
August produced just three microcap IPOs, but those transactions raised a combined $111.75 million as capital continued to concentrate around fewer, larger deals. At the same time, two direct listings and four uplistings/cross-listings demonstrated the growing importance of alternative pathways as companies rethink how they access the public markets.
Lucosky Brookman LLP has pioneered a hands-on, end-to-end approach to guiding entrepreneurial, emerging growth and public companies through complex legal and business challenges. Built on the belief that clients need more than legal advice, the firm leads strategy, coordinates stakeholders, and executes across the full corporate lifecycle, serving as the central point of command for transactions, litigation, and regulatory matters. Headquartered in the New York metropolitan area with attorneys across the country, Lucosky Brookman represents domestic and international clients across capital markets transactions, mergers and acquisitions, financing matters, complex commercial and securities litigation, white collar and regulatory matters, and insurance coverage and defense, with a relationship-driven, results-focused approach centered on accountability, execution, and long-term partnership.
Explore the full range of Lucosky Brookman's practice areas.
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