How Twitter’s new algorithmic filtering will impact investor relations

“Algorithmic” is not the most favorite word in the capital markets, but rather than high-frequency-trading, this discussion is around shareholder communications and disclosure.

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Twitter is initiating a new version of its timeline that positions tweets by filtering per content attributes in addition to chronological posting. This means when a user opens Twitter, after a certain time-period away, “selected” tweets will appear up at the top of the streaming timeline in reverse chronological order. The balance of the stream will appear, as usual, below the selected tweets.

The impact for IR?

One point for IR regarding this new change is that this continues to reinforce that social media-based networks are not an investor relations-controllable channel for shareholder communications. This is unlike email or (ahem) newswire distribution.

Algorithmic filtering is just that, a filter. Twitter’s algorithm will consider the different Twitter accounts and types of tweets a user characteristically interacts with, their likes, their retweets, engagement among the people they follow and even the activities of Twitter users with comparable interests. Note…algorithmic filtering is not new: Facebook has been doing this for a while.

Time will tell if this matters at all to IR.

Simply, the recipients and the hosting-media organization itself control the final disclosure, not the sender. Certainly, social media is not a “favored” media shareholder communications anyway, but it is a real-world element of any corporation’s omnichannel comminutions strategy. It’s wise to be aware of the fluidity of the different channels.

BTW. If you do have fervent Twitter users following your stock, they are already self- filtering via a $cashtag. More to that, as our data has shown, StockTwits is where the social media-based investors tweet it up.

The SEC is closed for Presidents’ Day: Monday, February 15th

In honor of Presidents’ Day, the SEC is closed on Monday, February 15, 2016. No files can be received.

Files submitted after 5:30 pm ET, Friday, February 12, 2016 will receive a filing date of Tuesday, February 16, 2016 and will be posted to the public on February 16, 2016 at 6:00 am ET.

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As with other holiday closings, the following file types will receive a Friday, January 12, 2016 filing date if filed by 10:00 pm ET on Friday:

  • Section 16 filings (3, 3/A, 4, 4/A, 5, 5/A)
  • Filings pursuant to Rule 462(b)

For any filing with a due date of Monday, February 15, 2016, the SEC will move the due date of Tuesday, February 16, 2016.

Please contact your Vintage representative if you foresee any deadline conflicts. We’re always here to help!

DOWNLOAD A 2016 SEC HOLIDAY AND DEADLINE CALENDAR HERE.

Vintage Ranked Top SEC Filing Agent in China & Hong Kong: Form 20-F Filings

Company wins second spot worldwide

NEW YORK  / PR Newswire / — Vintage, the capital markets, corporate services and institutional and fund services division of PR Newswire, today announced that their China & Hong Kong division has rated number one for filing SEC Form 20-F on behalf of their China-based clients. Vintage filed 34% of Form 20-Fs in China.

A requirement of the Securities Exchange Act of 1934, a Form 20-F must be submitted by foreign issuers that have listed equity shares on stock exchanges in the United States. Similar to a Form 10-K for U.S.-based issuers, Form 20-F calls for the submission of an annual report within six months of the end of a company’s fiscal year.

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“We are very pleased with the achievement of being in the number one position in China,” said Sharon Xu, Director of IR Services: China, PR Newswire and Vintage. “This is the result of the company’s investment in the expansion of the bilingual production team and in delivering top quality service. We appreciate our customers’ faith in us and we will continue to meet and exceed expectations.”

SouFun Holdings Limited (NYSE: SFUN), the leading real estate Internet portal in China, utilizes the compliance services of Vintage and compliments the company’s ability to execute under great pressure.

“My team and I were very satisfied with Vintage’s filing and printing service, including the training, the time line, and the filing collaboration. The online review system and review tools were very intuitive and easy for us to use efficiently.” stated Hillary Yang, Reporting Director of SouFun. “Special thanks to their XBRL Manager’s coordination and timely responses. He performed professionally on the whole process even though the scheduled filing date was delayed by SouFun.”

Vintage rated number two worldwide for 20-F filings

In addition to holding the top position in China, Vintage also claimed the number two position worldwide, led predominantly by their Israeli office.

“Holding the number two position is a great testament to Vintage’s understanding of what it truly takes to support a global business,” said Rakefet Sudri, PR Newswire Israel’s Head of Sales “Supporting public equities, on any continent, is a 24 hour business and the Vintage team continually delivers their promise of ‘Intelligent Value’ – which is exactly what my customers demand.” 

Sapiens International Corporation, (NASDAQ, TASE: SPNS), which is headquartered in Israel and is a leading global provider of software solutions for the financial services sector, relies upon Vintage for SEC forms 6K, F3, Proxy, 20F and XBRL, as well as hard copy financial printing. Sapiens also uses Vintage’s parent company, PR Newswire, for shareholder communications.

“The level of client service and attention to detail that we receive from Vintage is of the same high standard that we strive to provide to our customers,” said Yaffa Cohen-Ifrah, Sapiens’ chief marketing officer and head of corporate communications. “Equally important to us is that U.S.-based Vintage is highly attuned to the fluidity and complexity of the U.S. Security and Exchanges Commissions’ regulations, which gives us peace of mind.”

“Our 16 year local presence in Israel has helped to make us a trusted provider of filing services for companies with a U.S. listing” said Lisa Ashworth, CEO and President, PR Newswire EMEA and India. “Coupling this with our unrivalled global distribution network makes for a powerful IR communications package and it is this that makes PR Newswire and Vintage such an attractive proposition for issuers worldwide.”

In addition to Form 20-F, the company also supports corporations, regardless of geography, throughout IPO registrations, Regulation A+ registrations, virtual data rooms and shareholder communications.

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About Vintage

Vintage, a PR Newswire division, is a top-three provider of full-service regulatory compliance and shareholder communications services, delivered across our three practice areas: Capital Markets, Corporate Services and Institutional & Fund Services. Founded in 2002 and acquired by PR Newswire in 2007, Vintage has evolved to become the industry’s intelligent value choice. We deliver a flexible balance of people, facilities and technology to ensure that regulatory compliance and shareholder communications processes are efficient, transparent and painless. Services include IPO registrations, transactions, virtual data rooms, EDGAR & XBRL filing, typesetting, financial printing and investor relations websites.

About PR Newswire

PR Newswire is the premier global provider of multimedia platforms that enable marketers, corporate communicators, sustainability officers, public affairs and investor relations officers to leverage content to engage with all their key audiences. Having pioneered the commercial news distribution industry over 60 years ago, PR Newswire today provides end-to-end solutions to produce, optimize and target content — from rich media to online video to multimedia — and then distribute content and measure results across traditional, digital, mobile and social channels. Combining the world’s largest multi-channel, multi-cultural content distribution and optimization network with comprehensive workflow tools and platforms, PR Newswire enables the world’s enterprises to engage opportunity everywhere it exists. PR Newswire serves tens of thousands of clients from offices in the Americas, Europe, Middle East, Africa and the Asia-Pacific region, and is a UBM plc company. 

Media Contact:
Bradley H. Smith
Director of Marketing, IR and Compliance Services
PR Newswire & Vintage
+1 201.942.7157

bradley.smith@prnewswire.com

IPOs and Transactions: February 1 – 5 / plus 2016 SEC Reporting Rules guidebooks

There were 32 transactions filed with the SEC last week.

Congratulations to all of the corporations and law firms that selected our transactions services last week including Moleculin Biotech Inc. w DLA Piper LLP and Schiff Hardin LLP, Vuzix Corp w/ Sichenzia Ross Friedman Ference LLP and Reg A+ registration Beautykind Holdings Inc. w/ Szaferman, Lakind, Blumstein & Blader, PC.

We appreciate that they selected to work with us and we’re pleased that they found us to be the intelligent value.

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Law firm / advisor Registrant Symbol Form Industry
ALJ Regional Holdings, Inc. ALJ REGIONAL HOLDINGS INC ~ 10-12B ~
Anderson Hayes, P.C. INNERSCOPE ADVERTISING AGENCY, INC. ~ S-1 ~
Cadwalader, Wickersham & Taft LLP ASHFORD HOSPITALITY PRIME, INC. AHP S-3 REIT
Clifford Chance US LLP NORTHSTAR REAL ESTATE CAPITAL INCOME FUND-T ~ N-2 ~
Clifford Chance US LLP NORTHSTAR REAL ESTATE CAPITAL INCOME MASTER FUND ~ N-2 ~
Cooley LLP TRACON PHARMACEUTICALS, INC. TCON S-3 Biotech.
Cooley LLP ENPHASE ENERGY, INC. ENPH S-3 Semi-conductor
Dechert LLP APOLLO MULTI SECTOR INCOME FUND ~ N-2 ~
Dechert LLP APOLLO MULTI SECTOR INCOME FUND A ~ N-2 ~
Dechert LLP APOLLO MULTI SECTOR INCOME FUND B ~ N-2 ~
Dechert LLP EGALET CORP EGLT S-3 Biotech.
DLA Piper LLP MOLECULIN BIOTECH, INC. ~ S-1 ~
Dorsey & Whitney LLP CORVEL CORP CRVL S-3 Insurance
Greenberg Traurig. P.A. ST JOE CO JOE S-3 Real Estate Dev.
Heartland Payment Systems, Inc. GLOBAL PAYMENTS INC GPN S-4 Bus. Services
Highlands REIT, Inc. HIGHLANDS REIT, INC. ~ 10-12G ~
Keith N. Hamilton Attorney at Law, PLLC ALL SOFT GELS INC ~ S-1 ~
Kruse Landa Maycock & Ricks, LLC CANNASYS INC MJTK S-1 ~
Lowenstein Sandler LLP CYTODYN INC CYDY S-1 ~
Mayer Brown LLP BAXALTA INC BXLT S-1 Biotech.
O’Neal Law Office HIP CUISINE INC. ~ S-1 ~
Schiff Hardin LLP MOLECULIN BIOTECH, INC. ~ S-1 ~
Securities Compliance Group, Ltd. LENG UNIVERSAL, INC. ~ S-1 ~
Shearman & Sterling LLP ALJ REGIONAL HOLDINGS INC ~ 10-12B ~
Sichenzia Ross Friedman Ference LLP VUZIX CORP VUZI S-3 Elec. Equipment
Sidley Austin LLP BAXALTA INC BXLT S-1 Biotech.
Simpson Thacher & Bartlett LLP GLOBAL PAYMENTS INC GPN S-4 Bus. Services
Skadden, Arps, Slate, Meagher & Flom LLP COLONY GLOBAL ACQUISITION CORP. ~ S-1 ~
Skadden, Arps, Slate, Meagher & Flom LLP BAXALTA INC BXLT S-1 Biotech.
Sonfield & Sonfield ARISTOCRAT GROUP CORP. ASCC S-1 ~
Sutherland Asbill & Brennan LLP UNITED STATES OIL FUND, LP USO S-3 Closed-End Fund
Szaferman, Lakind, Blumstein & Blader, PC NUTRITIONAL HIGH INTERNATIONAL INC ~ F-1 ~
Szaferman, Lakind, Blumstein & Blader, PC BEAUTYKIND HOLDINGS, INC. ~ 1-A ~
TRACON Pharmaceuticals, Inc. TRACON PHARMACEUTICALS, INC. TCON S-3 Biotech.
Vinson & Elkins L.L.P. RSP PERMIAN, INC. RSPP S-4 Oil / Gas Drilling & Explor.
Wachtell, Lipton, Rosen & Katz GLOBAL PAYMENTS INC GPN S-4 Bus. Services
Weil, Gotshal & Manges LLP COLONY GLOBAL ACQUISITION CORP. ~ S-1 ~
Weintraub Tobin Chediak Coleman Grodin, Law Corp. ADAMIS PHARMACEUTICALS CORP ADMP S-3 Drug Delivery
Wilson Sonsini Goodrich & Rosati, P.C. AVINGER INC AVGR S-3 Medical App. / Equip.
Winston & Strawn LLP VERSUS CAPITAL MULTI-MANAGER REAL ESTATE INCOME FUND LLC VCMIX N-2 ~

Post IPO, thousands of organizations count on us to assure regulatory compliance and target new investors.

Click here and opt-in to receive this weekly summary via email.

Click here to review the week’s underwriters.

IPO Underwriters of the Week: February 1 – 5

Congratulations to the corporations and underwriters that worked with our transaction services team. Whether in-house, your-house or 100% virtual… click here to discover why we are the intelligent value for both traditional and confidential IPOs.

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Registrant Form Underwriter
MOLECULIN BIOTECH, INC. S-1 Bonwick Capital Partners LLC
AVINGER INC S-3 Cowen and Company, LLC
COLONY GLOBAL ACQUISITION CORP. S-1 Credit Suisse Securities (USA) LLC
VERSUS CAPITAL MULTI-MANAGER REAL ESTATE INCOME FUND LLC N-2 Foreside Funds Distributors LLC
ALL SOFT GELS INC S-1 Gene Nelson, President
BAXALTA INC S-1 J.P. Morgan Securities LLC
NUTRITIONAL HIGH INTERNATIONAL INC F-1 Kodiak Capital Group, LLC
CANNASYS INC S-1 Kodiak Capital Group, LLC
CYTODYN INC S-1 Paulson Investment Company, LLC
TRACON PHARMACEUTICALS, INC. S-3 Stifel, Nicolaus & Company, Inc.
BEAUTYKIND HOLDINGS, INC. 1-A W.R. Hambrecht + Co., LLC

Post IPO, thousands of organizations count on us to assure regulatory compliance and target new investors.

“Miracle workers. You guys are awesome.”

first_place_ribbonVFast turns and spot-on execution has redefined Vintage, helping us to be a top three solution in North America. Our work is highlighted every Monday in our “IPOs and Transactions of the Week” blog and email.  Importantly, our week’s success is further highlighted (and celebrated) by the appreciative notes our operations people receive each day from our clients.

We can’t not share the good news (anonymized for privacy). Sales can offer you full named references.

Here is just a handful of the week’s notes: 

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Kudos to our Transactions team

Thank you all for the great job on this process.  It has been a pleasure working with the whole team.

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.Kudos to our EDGAR team

Just a brief note to say thank you all for your teamwork and support over the past several days as we prepared for our company’s earnings release as well as a significant organizational announcement.

I know this go-round was particularly complicated for multiple reasons, and having the A-team on our side throughout ensured successful and timely distribution of our exciting news this morning. Hopefully, the next earnings announcement won’t be quite as entailed, but I have let my colleague know that you offered to hold a brief planning call in advance to ensure everyone is on the same page regarding deliverables.

It’s been a pleasure working with each of you, and the next time you see my name come across on a release (maybe tomorrow even!), it will likely be a straightforward request for release for Missiles and Fire Control!

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.Kudos to our EDGAR team

I wanted to repeat how pleased I am with how promptly and accurately the EDGAR proofs were prepared.

I also want to specifically mention my appreciation for Wilson pointing out that I’d skipped an amendment to the 14D-9 (we had two proofs going). I will certainly recommend Vintage to clients going forward.

 


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.Kudos to our Typesetting team

I can’t thank you enough for your heroic efforts that enabled [COMPANY] to file ON TIME (with milliseconds to spare!) last night.  You all went well “above and beyond” to make this happen.  Your efforts were appreciated more than you know, by us and by our client.

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.Kudos to our IPO team

Thank you for getting this submitted. I appreciate how smooth this process has been with Vintage (and catching my omission in not asking for marked copies to send to the examiners and for the great job in processing mark-ups made on inconsistent proof versions).

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Our rebrand was not just a logo change – it was a systemic and cultural reform throughout our operations. Our president, Liam Power, challenged his team to deliver the industry’s intelligent value, measured as fast turns and spot-on execution of services. You can meet Liam Power on this video. 

Thanks to our experts for delivering intelligent value!

Video: January’s Top Law Firms for SEC transactions

Being subject matter experts in transactions i.e. IPOs and M&A, we carefully track the capital markets dealflow… daily, weekly and monthly. If you would like to be emailed the week’s transactions (every Monday afternoon), fill out the quick form on this page.

View the Top 30 for all of 2015 here!

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Congratulations to any and all of our partnering law firms that made this month’s Top List – and to the firms that worked with our teams on their clients’ transaction:

  • 1-A: Form needed for companies taking advantage of Regulation A+
  • S-1: General form of registration statement for all companies including face-amount certificate companies
  • S-3: Registration statement for specified transactions by certain issuers
  • S-4 Registration of securities issued in business combination transactions
  • N-2: Initial filing of a registration statement on Form N-2 for closed-end investment companies
  • F-1: Registration statement for securities of certain foreign private issuers
  • S-11: Registration statement for securities to be issued by real estate companies
  • 10-12G: Initial general form for registration of a class of securities pursuant to Section 12(g)
  • 10-12B: Initial general form for registration of a class of securities pursuant to Section 12(b)

Have you read our whitepaper on how the S-1 registration paperwork flows back-and-forth between the company and the SEC?  CLICK HERE