Kingscrowd Podcast

Our Bond Goes Public: What a Direct Listing Means for Crowdfunding Investors

Episode Notes

Our Bond (TG-17 Inc., OBAI) has gone public via a direct listing (0:00–1:15), and Brian and Léa explain what’s happening and what investors need to do next. Léa starts with a clear refresher on what Our Bond is and how the product works in real life (1:17–3:49), including adoption and enterprise customers that make it more than a typical consumer app (4:12–5:33). She also outlines why Kingscrowd Capital liked the opportunity—product differentiation, growth/valuation context, and the founder’s prior exits (4:53–6:02). Brian then pulls up key deal context and the path from prior fundraising to today’s public-market moment (6:08–8:16), before they shift into the how-to for investors: check your inbox for transfer-agent instructions, understand that shares are typically held in your name via DRS, and that you may need to transfer to a broker to trade (8:16–9:11, 12:53–13:34). They also discuss how fees can hit smaller investors disproportionately and why this is an “industry infrastructure” issue founders should think about early (9:11–15:22). Finally, they explain IPO vs direct listing—including why direct listings don’t issue new shares immediately (18:43–20:30)—and why early price action can be misleading when float is limited and many shareholders can’t trade yet (15:52–17:57). They close with a founder takeaway: communicate early and clearly, and reduce friction wherever possible to protect investor trust (21:50–22:34, 22:57–23:52).