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How do you uplist from the OTC market to Nasdaq?
A company uplists when it meets Nasdaq's listing standards and, more important, has enough traction to interest the investors Nasdaq brings: institutions, family offices and investment funds. For our clients that is usually two or three years after listing on the OTC market. Meeting the rules isn't the reason to move. If the business doesn't have the revenue and activity to attract those investors, uplisting adds large costs and governance changes without changing valuation or liquidity.
Joel Arberman, Meraki Partners · Reviewed October 2026. Based on 17 companies taken public since 1999: 11 by direct listing, 4 by reverse merger and 2 by IPO.
What are Nasdaq's requirements?
For the Nasdaq Capital Market, among other things: a $4 minimum bid price, at least 300 round-lot shareholders, publicly held shares with a market value of at least $15 million under most of its standards, and corporate governance rules such as a majority-independent board and an audit committee. See the Nasdaq rulebook for the full standards.
When does uplisting make sense?
When the company has enough revenue, growth and market activity to be of real interest to institutional investors, family offices and funds. That interest is what can improve valuation and liquidity. Without it, Nasdaq is mostly a higher cost.
How much more does Nasdaq cost?
Staying public on Nasdaq typically costs $600,000 to $1 million or more a year, compared with about $300,000 to $500,000 for an early-stage OTC company. See the ongoing costs.
What changes in governance?
A majority-independent board, independent audit, compensation and nominating committees, shareholder approval rules for certain share issuances, and stricter review of everything the company files.
Do companies raise money when they uplist?
Often. Many uplistings are paired with a public offering run by an investment bank, which helps meet the shareholder and float requirements. See raising after listing.
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Tell us where you are, and we’ll set up a first conversation about whether going public belongs in your plan and what it would take. If it isn’t right for you, we’ll say so.