skinny.

Latest / WTR Small-Cap Spotlight

Lucosky Brookman: The Old Playbook Is Dead — Inside the Microcap Listing Squeeze

Send us Fan Mail

In this episode of the WTR Small Cap Spotlight Podcast, Joseph Lucosky, Managing Director of Lucosky Brookman LLP, joins host Tim Gerdeman to explain why the old microcap IPO playbook is dead, and what's replacing it. Joe walks through the wave of exchange rule changes since late 2024, the 86% collapse in Q1 2026 microcap IPO volume, NASDAQ's new 51013 discretionary review process, and the rise of alternative pathways, including uplists, cross-lists, direct listings, and reverse mergers. He also explains why getting a deal done in this environment requires an advocate, not a…

The skinny

The skinny isn't ready yet — notes appear once the transcript is processed.