In the light of the latest direct listing by Slack, do I understand correctly - Direct listing is a way for existing shareholders to exit and an IPO is a way for company to raise funds?
Additional question - the usual description of a direct listing states that
1. the company does not issue new shares
2. the company forgoes the underwriting
Could the company issue new shares and forgoe the underwriting, i.e. turn the direct listing into a capital raising thingy?