Here’s what Michael Doherty our new CEO and President said was the process in a recent article about the WDBG merger:
-Speaking to International Adviser, Woodbrook chief executive Michael Doherty explained: “The group decided to pursue an IPO through a private equity firm in the US.
“Through discussions, we found that the easiest solution would to be a reverse public offering. It works by us identifying a company that is already listed, with a clean share class, and purchasing it.” Also known as a reverse takeover, the move sees Doherty installed as chief executive and president of the newly restructured business.
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