Monthly Archives: April 2013

Last week’s IPOs and Transactions

There were 55 transactions filed with the SEC last week.

Congratulations to all of our clients and law firms that used our transactions services last week including Neurometrix, Inc.(NASDAQ), Symmetry Medical. Inc.(NYSE) and Elite Pharmaceuticals, Inc.(OTC). We appreciate that they selected to work with us for this important step in their company’s growth and we’re pleased that they found us both accurate and affordable.

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Registrant Symbol Form Exchange Law firm / advisor
INTEGRATED ELECTRICAL SERVICES INC IESC S-4 Nasdaq Andrews Kurth LLP
FIRST XERIS CORP. S-1 Angela Collette, Attorney and Counselor at Law
AMSURG CORP AMSG S-4 Nasdaq Bass, Berry & Sims PLC
FIRST SECURITY GROUP INC/TN FSGI S-1 Nasdaq Bryan Cave LLP
ENSERVCO CORP ENSV S-1 OTC Burns Figa & Will P.C.
INTERPOOL INC S-4 Cleary Gottlieb Steen & Hamilton LLP
CLOVIS ONCOLOGY, INC. CLVS S-3 Nasdaq Clovis Oncology, Inc.
EPAM SYSTEMS, INC. EPAM S-3 NYSE Davis Polk & Wardwell LLP
BIOSANTE PHARMACEUTICALS INC BPAX S-4 Nasdaq Dentons US LLP
COPYTELE INC COPY S-1 OTC Duane Morris LLP
CLEANTECH SOLUTIONS INTERNATIONAL, INC., CLNT S-3 Nasdaq Ellenoff Grossman & Schole LLP
GOOD TIMES RESTAURANTS INC GTIM S-1 Nasdaq Ellenoff Grossman & Schole LLP
SOUTHWESTERN PUBLIC SERVICE CO S-3 Faegre Baker Daniels LLP
SCBT FINANCIAL CORP SCBT S-4 Nasdaq First Financial Holdings, Inc.
ARI NETWORK SERVICES INC /WI ARIS S-1 OTC Godfrey & Kahn, S.C.
MONY LIFE INSURANCE CO OF AMERICA S-1 Goodwin Procter LLP
CYALUME TECHNOLOGIES HOLDINGS, INC. CYLU S-1 OTC Greenberg Traurig, LLP
BIOTELEMETRY, INC. S-4 Greenberg Traurig, P.A.
SYMMETRY MEDICAL INC. SMA S-3 NYSE Ice Miller LLP
INSTITUTE OF KINGS & PRIESTS, INC. 10-12B Institute of Kings and Priests, Inc.
INSTITUTE OF KINGS & PRIESTS, INC. 10-12B Institute of Kings and Priests, Inc.
ABRAXAS PETROLEUM CORP AXAS S-3 Nasdaq Jackson Walker L.L.P.
OLYMPIC STEEL INC ZEUS S-3 Nasdaq Jones Day
POWERSECURE INTERNATIONAL, INC. POWR S-4 Nasdaq Kegler, Brown, Hill & Ritter Co., L.P.A.
POWERSECURE INTERNATIONAL, INC. POWR S-3 Nasdaq Kegler, Brown, Hill & Ritter Co., L.P.A.
PULASKI FINANCIAL CORP PULB S-3 Nasdaq Kilpatrick Townsend & Stockton LLP
SCBT FINANCIAL CORP SCBT S-4 Nasdaq Kilpatrick Townsend & Stockton LLP
TRANSCEPT PHARMACEUTICALS INC TSPT S-3 Nasdaq Latham & Watkins LLP
CONTINENTAL RESOURCES, INC CLR S-4 NYSE Latham & Watkins LLP
BLUE FASHION CORP. S-1 Law Offices of Thomas E. Puzzo, PLLC
PERMAL HEDGE STRATEGIES FUND II N-2 Legg Mason & Co., LLC
GLOBAL EAGLE ENTERTAINMENT INC. ENT S-3 Nasdaq McDermott Will & Emery LLP
JACKSONVILLE BANCORP INC /FL/ JAXB S-1 Nasdaq McGuireWoods LLP
MJP INTERNATIONAL LTD. S-1 Michael J. Morrison
ERA GROUP INC. ERA S-4 NYSE Milbank, Tweed, Hadley & McCloy LLP
OXIGENE INC OXGN S-3 Nasdaq Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
NEUROMETRIX, INC. NURO S-1 Nasdaq Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
INTEGRATED ELECTRICAL SERVICES INC IESC S-4 Nasdaq MISCOR Group, Ltd.
BIOSANTE PHARMACEUTICALS INC BPAX S-4 Nasdaq Oppenheimer Wolff & Donnelly LLP
LEVI STRAUSS & CO S-4 Orrick, Herrington & Sutcliffe LLP
ARES CAPITAL CORP ARCC N-2 NYSE Proskauer Rose LLP
COHEN & STEERS GLOBAL PREFERRED & INCOME FUND N-2 Ropes & Gray LLP
PREMIER ALLIANCE GROUP, INC. PIMO S-1 OTC Ruskin , Moscou Faltischek, P.C.
ELITE PHARMACEUTICALS INC /NV/ ELTP S-1 OTC Silverman Shin & Byrne PLLC
PERMAL HEDGE STRATEGIES FUND II N-2 Simpson Thacher & Bartlett LLP
CARLYLE GROUP L.P. CG S-1 Nasdaq Simpson Thacher & Bartlett LLP
GOOD TIMES RESTAURANTS INC GTIM S-1 Nasdaq Snell & Wilmer L.L.P.
SOUTHWESTERN PUBLIC SERVICE CO S-3 Southwestern Public Service Company
BIOTIME INC BTX S-3 NYSE Thompson, Welch, Soroko & Gilbert LLP
EASTERN VIRGINIA BANKSHARES INC EVBS S-1 Nasdaq Troutman Sanders LLP
TNI BIOTECH, INC. 10-12G Turner, Stone & Company, L.L.P.
INTEGRATED ELECTRICAL SERVICES INC IESC S-4 Nasdaq Ulmer & Berne LLP
RANGE RESOURCES CORP RRC S-4 NYSE Vinson & Elkins L.L.P.
SCBT FINANCIAL CORP SCBT S-4 Nasdaq Wachtell, Lipton, Rosen & Katz
CLOVIS ONCOLOGY, INC. CLVS S-3 Nasdaq Willkie Farr & Gallagher LLP

Have a great day.

How Investor Relations can automatically (and hand-free) send news over social media

Yesterday, I attended a panel that discussed exclusively RegFD and social media. Like most all of the recent discussion around this topic, the pundits mostly spoke on “why” social media for IR it’s a good thing.

The “why”of social media is a smart conversation to have, but from my product marketing perspective, (buy now bargain deal) I thought a brief review of “how” was appropriate.

Thus, this brief guide was born. Points to entice you to download the report now:

  • It lays out a newsflow for 100% “hand-free” social media. This may appeal to IROs who are understaffed but want to get their news into the social media stream in some base manner 
  • It explains the difference between Twitter and StockTwits – this comes up ALL the time when speaking with clients
  • It re-enforces the most important essential bit you must take for sending your news into the social media stream – can you guess what that is? 

SoMeCover_500

Also, it has a newsflow diagram that somehow ended up looking like an art-deco clock.

Please consider this post Part Three, to my previous social media Part One and Two posts.

Have a nice day.

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Infographic & question #19: Do you watch or listen to investor presentations online?

Investor relations websites ( like our IR Room hint hint ) are companies’ best channel for delivering the intangibles of the financial brand. The vision. That’s what investors want most from your investor relations website.

Our results below almost exactly match industry stalwart Rivel Research’s “Perception on the Buy-side” results, also finding that investor presentations are the most important content (73%) on an investor relations website. What a contrast to only .4% of investors using investor relations websites for stock price and charts. That data is found everywhere.

Make sure your recent “virtual roadshow” is VERY easy to find. Put a link on your  investor relations website main, overview page.

Q19

Learn more about all our investor relations services.

Review all the results from all the questions (so far).

Last week’s IPOs and Transactions

There were 46 transactions filed with the SEC last week.

Congratulations to all of our clients and law firms that used our transactions services last week. We’re pleased that they found us both accurate and affordable.

PLUS: The 3rd printing of our popular 2013 SEC 10-K, 10-Q, 8-K and Proxy Materials guidebooks are in! Request your free set now! These are hardcopy books, mailing address required.

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Registrant Symbol Form Exchange Law firm / Advisor
CINEMARK USA INC /TX S-4 Akin Gump Strauss Hauer & Feld LLP
HEALTH REVENUE ASSURANCE HOLDINGS, INC. HRAA S-1 OTC Anslow + Jaclin, LLP
CROSSTEX ENERGY LP XTEX S-3 Nasdaq Baker Botts L.L.P.
SILVERCREST ASSET MANAGEMENT GROUP INC. S-1 Bingham McCutchen LLP
CORNERSTONE PROGRESSIVE RETURN FUND CFP N-2 NYSE Blank Rome LLP
TOWER TECHNOLOGY CO OF JACKSONVILLE LLC S-4 CC Holdings GS V LLC
APOLLO COMMERCIAL REAL ESTATE FINANCE, INC. ARIPRA S-3 NYSE Clifford Chance US LLP
EPIZYME, INC. S-1 Cooley LLP
TOWER TECHNOLOGY CO OF JACKSONVILLE LLC S-4 Cravath, Swaine & Moore LLP
PEAPACK GLADSTONE FINANCIAL CORP PGC S-3 Nasdaq Day Pitney LLP
GEMSHARES PHYSICAL DIAMOND TRUST S-1 Dechert LLP
DISCOVERY LABORATORIES INC /DE/ DSCO S-3 Nasdaq Dentons US LLP
PARK CITY GROUP INC PCYG S-3 NYSE Disclosure Law Group, LLP
COMBIMATRIX CORP CBMX S-3 Nasdaq Dorsey & Whitney LLP
EBULLION, INC. S-1 Gracin & Marlow, LLP
URANIUM RESOURCES INC /DE/ URRE S-3 Nasdaq Hogan Lovells US LLP
AMR CORP AAR S-4 OTC K&L Gates LLP
SI FINANCIAL GROUP, INC. SIFI S-4 Nasdaq Kilpatrick Townsend & Stockton LLP
AFFINITY GAMING S-4 Kirkland & Ellis LLP
LIGHTINTHEBOX HOLDING CO., LTD. F-1 Kirkland & Ellis LLP
URS CORP /NEW/ URS S-4 NYSE Latham & Watkins LLP
AMR CORP AAR S-4 OTC Latham & Watkins LLP
SI FINANCIAL GROUP, INC. SIFI S-4 Nasdaq Luse Gorman Pomerenk & Schick, P.C.
KANDI TECHNOLOGIES GROUP, INC. KNDI S-3 Nasdaq McKenna Long & Aldridge LLP
METHES ENERGIES INTERNATIONAL LTD MEILU S-1 Nasdaq Morse, Zelnick, Rose & Lander LLP
VECTOR GROUP LTD VGR S-4 NYSE O’Melveny & Myers LLP
SILVERCREST ASSET MANAGEMENT GROUP INC. S-1 Paul, Weiss, Rifkind, Wharton & Garrison LLP
KOPJAGGERS INC. S-1 Peter Messineo CPA
PREFERRED APARTMENT COMMUNITIES INC APTS S-3 NYSE Preferred Apartment Communities, Inc.
PREFERRED APARTMENT COMMUNITIES INC APTS S-3 NYSE Proskauer Rose LLP
PINGTAN MARINE ENTERPRISE LTD. PME S-3 Nasdaq Reed Smith LLP
ROMANTIQUE LTD. S-1 Schonfeld & Weinstein, L.L.P.
CACHE INC CACH S-3 Nasdaq Schulte Roth & Zabel LLP
PARAGON SHIPPING INC. PRGN F-1 NYSE Seward & Kissel LLP
STARZ ENTERTAINMENT, LLC S-4 Sherman & Howard LLC
LIGHTINTHEBOX HOLDING CO., LTD. F-1 Simpson Thacher & Bartlett LLP
VOTORANTIM CIMENTOS S.A. F-1 Skadden, Arps, Slate, Meagher & Flom LLP
WESTERN ASSET MORTGAGE CAPITAL CORP WMC S-11 NYSE Skadden, Arps, Slate, Meagher & Flom LLP
CUSTOMERS BANCORP, INC. CUUU S-3 OTC Stradley Ronon Stevens & Young, LLP
TRUVEN HOLDING CORP. S-4 Sullivan & Cromwell LLP
THL CREDIT, INC. TCRD N-2 Nasdaq Sutherland Asbill & Brennan LLP
AMR CORP AAR S-4 OTC US Airways Group, Inc.
GENERAL BINDING LLC S-4 Vedder Price P.C.
AMR CORP AAR S-4 OTC Weil, Gotshal & Manges LLP
VOTORANTIM CIMENTOS S.A. F-1 White & Case LLP
EPIZYME, INC. S-1 Wilmer Cutler Pickering Hale and Dorr LLP

Have a great day.

XBRL 2011 U.S. GAAP Taxonomy to retire on April 29th

Beginning April 29, 2013, the EDGAR system will begin accepting submissions with XBRL exhibits based on the 2013 U.S. GAAP taxonomy. You can read the entire 2013 taxonomy here. NOTE: scroll to the bottom of the welcome page and accept the FASB policy.

On that date, the EDGAR system will no longer accept submissions with XBRL exhibits based on the 2011 U.S. GAAP taxonomy. It will continue to accept 2012 U.S. GAAP taxonomy.

PASTURE

In addition to the new taxonomy, this is a fine time to have a conversation with your internal and external XBRL teams about quality. As posted prior…XBRL quality is critical: errors inhibit investor adoption of your data ( your investment in XBRL) and you will be legally liable for errors in your filing.

KPMG sums up the most common errors.  Remember, these are NOT errors in “your numbers.” These are back-room XBRL faults. The most common mistake across all filing is the mis-tagging of negative values. Basically, this is a typo. Be watchful as its a little counter-intuitive for accounting.

Are you satisfied with your XBRL process and workflow? Our fleXBRL program balances costs and process (without sacrificing quality) to match your budget.

What is your XBRL workflow wish? Tell us here.

Have a great day.

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Happy Birthday JOBS Act “Confidential” IPO

S1CAKEThanks to an article today by Emily Chasan, Senior Editor at the WSJ’s CFO Journal, I was reminded that the Confidential Registration provision of the Jumpstart Our Business Startups Act (the “JOBS Act”) is one year old.

This JOBS provision created a confidential SEC review procedure for IPO registration statements of “emerging growth companies” prior to their first registered sale of common equity. Generally, an emerging growth company is an issuer that has less than $1 billion in total annual gross revenues.

Emily reports that since the provision went into effect, 63% of the IPOs were confidential.

The phrase “confidential” is misleading, particularly in an industry that is dedicated to transparency. “Confidential” tends to bring up imagery of James Bond, insider whispers, dark pool trading and pump-n-dump ninjas.

Nothing of the sort. With a confidential IPO registration, all draft IPO registration statements and subsequent amendments are filed with the SEC for nonpublic review. Like all S-1s we submit for clients, the SEC is carefully reviewing the filing.

We’ve helped several companies with their in-house drafting session and confidential S-1 transaction. From our side of the discussion, “confidential” simply means “the elimination of the media frenzy and market speculation.” This has given all the parties involved the breathing room and focus they need to execute this intense, company altering step.

I assume most of you have never participated or seen an IPO drafting session take place. We held a very large one last week for a new Nasdaq issuer. Twelve+ lawyers, investment bankers and company executives sequestered in our conference room for two+ days laboriously dotting every “i” and crossing every “t” on the most important document a company will ever make. Making this process and filing nonpublic allows the all parties involved to be 100% on point, not distracted by market or pundit speculation.

The charts below compare a much hyped IPO with a confidential filed IPO. Both Nasdaq listed. The company on the left had to manage expectations even before they were a public issuer.  

IPOCHART .

As you see, there is nothing confidential about the success of the company on the right.

Have a great day.

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Last week’s IPOs and Transactions

There were 75 transactions filed with the SEC last week.

Congratulations to all of our clients and law firms that used our transactions services last week including Whitehorse Finance, Inc. (NASDAQ) w/ Dechert LLP, First Community Bancshares, Inc. (NASDAQ) w/ Bowles Rice LLP and Kamada. LTD. We appreciate that they selected to work with us for this important step in their company’s growth and we’re pleased that they found us both accurate and affordable.

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Registrant Symbol Form Exchange Advisor / Law firm
DIAMONDBACK ENERGY, INC. FANG S-1 Nasdaq Akin Gump Strauss Hauer & Feld LLP
ALERE SCARBOROUGH, INC. S-4 Alere Inc.
AMREP CORP. AXR S-3 NYSE AMREP Corporation
PROVECTUS PHARMACEUTICALS INC PVCT S-1 OTC Baker, Donelson, Bearman, Caldwell & Berkowitz, PC
ISHARES S&P GSCI COMMODITY-INDEXED TRUST GSG S-3 NYSE BlackRock Fund Advisors
FIRST COMMUNITY BANCSHARES INC /NV/ FCBC S-3 Nasdaq Bowles Rice LLP
CHANNELADVISOR CORP S-1 ChannelAdvisor Corporation
CHANNELADVISOR CORP S-1 Cooley LLP
PORTOLA PHARMACEUTICALS INC S-1 Cooley LLP
SUNESIS PHARMACEUTICALS INC SNSS S-3 Nasdaq Cooley LLP
KAMADA LTD F-1 Davis Polk & Wardwell LLP
PORTOLA PHARMACEUTICALS INC S-1 Davis Polk & Wardwell LLP
HD SUPPLY HOLDINGS, INC. S-1 Debevoise & Plimpton LLP
MEXICO FUND INC MXF N-2 NYSE Dechert LLP
WHITEHORSE FINANCE, INC. WHF N-2 Nasdaq Dechert LLP
AMREP CORP. AXR S-3 NYSE Drinker Biddle & Reath LLP
FIRST NBC BANK HOLDING CO S-1 Fenimore, Kay, Harrison & Ford, LLP
KAMADA LTD F-1 Fischer Behar Chen Well Orion & Co.
ALERE SCARBOROUGH, INC. S-4 Foley Hoag LLP
THE ADT CORPORATION ADT S-4 NYSE Gibson, Dunn & Crutcher LLP
LIQUID HOLDINGS GROUP LLC S-1 Gibson, Dunn & Crutcher LLP
KAMADA LTD F-1 Gornitzky & Co.
MRC ENERGY CO S-3 Haynes and Boone, LLP
CYNOSURE INC CYNO S-4 Nasdaq Hinckley, Allen & Snyder LLP
KNOLOGY BROADBAND INC S-4 Honigman Miller Schwartz and Cohn LLP
CHUY’S HOLDINGS, INC. CHUY S-1 Nasdaq Jones Day
STEBEN SELECT MULTI-STRATEGY FUND N-2 K&L Gates LLP
PERFORMANT FINANCIAL CORP PFMT S-1 Nasdaq Kirkland & Ellis LLP
REIT EXCHANGE FUND, INC. N-2 Kramer Levin Naftalis & Frankel LLP
CHUY’S HOLDINGS, INC. CHUY S-1 Nasdaq Latham & Watkins LLP
DIAMONDBACK ENERGY, INC. FANG S-1 Nasdaq Latham & Watkins LLP
EXCEL TRUST, INC. EXL S-3 NYSE Latham & Watkins LLP
WILLIAM LYON HOMES S-1 Latham & Watkins LLP
WILLIAM LYON HOMES S-4 Latham & Watkins LLP
CME REALTY INC. S-1 Law Offices of Joseph Lambert Pittera, Esq.
LIQUID HOLDINGS GROUP LLC S-1 Liquid Holdings Group, LLC
MARTIN MIDSTREAM PARTNERS LP MMLP S-4 Nasdaq Locke Lord LLP
CHAPARRAL ENERGY, INC. S-4 McAfee & Taft A Professional Corporation
WILLIAM LYON HOMES S-1 Milbank, Tweed, Hadley & McCloy LLP
CYCLACEL PHARMACEUTICALS, INC. CYCC S-3 Nasdaq Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
MORRIA BIOPHARMACEUTICALS PLC F-1 OTC Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
BGC PARTNERS, INC. BGCP S-3 Nasdaq Morgan, Lewis & Bockius LLP
KAMADA LTD F-1 Morrison & Foerster LLP
STEVIA FIRST CORP. STVF S-1 OTC Morrison & Foerster LLP
ASPEN GROUP, INC. ASPUE S-1 OTC Nason, Yeager, Gerson, White & Lioce, P.A.
LUCKYCOM INC S-1 Novi & Wilkin Attorneys At Law
OFFICE DEPOT INC ODP S-4 NYSE OfficeMax Incorporated
TORNIER N.V. TRNX S-3 Nasdaq Oppenheimer Wolff & Donnelly LLP
CYNOSURE INC CYNO S-4 Nasdaq Palomar Medical Technologies, Inc.
GEVO, INC. GEVO S-3 Nasdaq Paul Hastings LLP
REXNORD CORP RXN S-3 NYSE Paul, Weiss, Rifkind, Wharton & Garrison LLP
PERFORMANT FINANCIAL CORP PFMT S-1 Nasdaq Pillsbury Winthrop Shaw Pittman LLP
PAR PETROLEUM CORP/CO S-1 OTC Porter Hedges LLP
PROSHARES TRUST II CROC S-3 NYSE ProShare Capital Management LLC
REXNORD CORP RXN S-3 NYSE Quarles & Brady LLP
BABSON CAPITAL GLOBAL HIGH YIELD CREDIT OPPORTUNITY FUND N-2 Ropes & Gray LLP
HD SUPPLY HOLDINGS, INC. S-1 Ropes & Gray LLP
PASSPORT POTASH INC S-1 Sichenzia Ross Friedman Ference LLP
LIQUID HOLDINGS GROUP LLC S-1 Sidley Austin LLP
KKR & CO. L.P. KKR S-3 NYSE Simpson Thacher & Bartlett LLP
OFFICE DEPOT INC ODP S-4 NYSE Simpson Thacher & Bartlett LLP
ISHARES S&P GSCI COMMODITY-INDEXED TRUST GSG S-3 NYSE Skadden, Arps, Slate, Meagher & Flom LLP
OFFICE DEPOT INC ODP S-4 NYSE Skadden, Arps, Slate, Meagher & Flom LLP
OXYGEN BIOTHERAPEUTICS, INC. OXBT S-3 Nasdaq Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, L.L.P.
MEDBOX, INC. 10-12G Snell & Wilmer L.L.P.
FIRST NBC BANK HOLDING CO S-1 Sullivan & Cromwell LLP
SELECT INCOME REIT SIR S-3 NYSE Sullivan & Worcester LLP
GLOBAL SYSTEM DESIGNS, INC. S-1 Synergy Law Group, APC
GABELLI HEALTHCARE & WELLNESSRX TRUST GRXPRA N-2 The Gabelli Healthcare & WellnessRx Trust
NATURAL RESOURCE PARTNERS LP NRP S-3 NYSE Vinson & Elkins L.L.P.
HAMPTON ROADS BANKSHARES INC HMPR S-3 Nasdaq Williams Mullen
GABELLI HEALTHCARE & WELLNESSRX TRUST GRXPRA N-2 Willkie Farr & Gallagher LLP
CHANNELADVISOR CORP S-1 Wilmer Cutler Pickering Hale and Dorr LLP
CYNOSURE INC CYNO S-4 Nasdaq Wilmer Cutler Pickering Hale and Dorr LLP
OVASCIENCE, INC. OVSC S-1 OTC Wilmer Cutler Pickering Hale and Dorr LLP

Have a great day.

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