The move is part of a push to make it easier for companies to go public amid a 50% decline in U.S. listings over the past two decades. http://www.cfo.com/ipos/2019/02/sec...m_content=CFOWeekly_Friday_2019-2-22&utm_term
listing in Nasdaq and NYSE costing $100,000 in legal cost. and no retail investors in the exchange, why list? there are no investors, and illiquid manipulated investors is turn off to institutional investor or large investors. being a public company is a 'liability' to a company and shareholders. companies don't want to be a publicly listed company. it cost companies nothing to list in the OTC or pinksheets.
What was the last company to raise over $100m (about the median IPO size) listing on the pick sheets? Perhaps you're not really clear on the point of an IPO and what type of company engages in it? Hint: if you're a successful company not quite big enough for a real IPO there is more than enough private equity to go around for you. If you can't get money from anyone but suckers you go pink sheets.
It does cost something if you want to be on a higher tier in OTC Markets (OTC-QB etc.). I actively OTC stocks in my trading and also ignore them in my backtesting - using a Russell 3000 stock universe bypasses most of the trash.