IPOs and Transactions: Sept. 19 -23 / plus “M&A pitfalls” whitepaper

There were 34 transactions filed with the SEC last week.

Congratulations to all of the corporations and law firms that selected our transactions services last week including Senestech Inc. / Dickinson Wright PLLC and Summit Law Group PLLC, Albany Molecular Research Inc. w/ Goodwin Procter LLP, Aytu Bioscience Inc. w/ Sichenzia Ross Friedman Ference LLP and Wyrick Robbins Yates & Ponton LLP and Global Net Lease Inc. w/ Proskauer Rose LLP.

(M&A whitepaper available here)700_email-banneMM2

The week’s full market activity:

Law firm / advisor Registrant Symbol Form Industry
Albany Molecular Research, Inc. ALBANY MOLECULAR RESEARCH INC AMRI S-3 Physical & biological research
Andrews Kurth LLP MANEGAIN INC ~ 1-A Surgical, medical instruments
Applied Minerals, Inc. APPLIED MINERALS INC AMNL S-1 Gold & silver ores
ARC287BC Corp. ARC287BC CORP ~ 1-A ~
Axelrod, Smith & Kirshbaum TORCHLIGHT ENERGY RESOURCES INC TRCH S-1 Crude petroleum & natural gas
Cooley LLP XENCOR INC XNCR S-3 Pharma
Corporation Trust Company YUM CHINA HOLDINGS INC ~ S-1 Retail – eating places
Davis Polk & Wardwell LLP IRHYTHM TECHNOLOGIES INC ~ S-1 Surgical, medical instruments
Dickinson Wright PLLC SENESTECH INC ~ S-1 Agricultural chemicals
Dickinson Wright PLLC MONAKER GROUP INC 6NIN S-1 Advertising
Dorsey & Whitney LLP LUCAS ENERGY INC LEI S-3 Crude petroleum & natural gas
Dorsey & Whitney LLP ENTEROMEDICS INC ETRM S-1 Electromedical & electro- therapeutic
Goodwin Procter LLP ALBANY MOLECULAR RESEARCH INC AMRI S-3 Physical & biological research
Graubard Miller TECNOGLASS INC TGLS S-1 Blank checks
Jones Day DIEBOLD INC DBD S-4 Calculating & accounting machines
Kane Kessler, P.C. NORTHWEST BIOTHERAPEUTICS INC NWBO S-3 Pharma
Kaufman & Canoles, P.C. RECON TECHNOLOGY LTD RCON S-3 Oil & gas field services, not elsewhere classified
Kirkland & Ellis LLP NAVISTAR INTERNATIONAL CORP NAV S-3 Motor vehicles & passenger car bodies
Koldeck Inc. KOLDECK INC ~ S-1 ~
Kutak Rock LLP OWL ROCK CAPITAL CORP II ~ N-2 ~
Laclede Gas Company LACLEDE GAS CO SR S-3 Natural gas distribution
Latham & Watkins LLP SMART SAND INC ~ S-1 Mining & quarrying nonmetallic minerals
Locke Lord LLP ION GEOPHYSICAL CORP IO S-3 Oil & gas field exploration services
Loeb & Loeb LLP SMITH MICRO SOFTWARE INC SMSI S-3 Prepackaged software
Loev Law Firm, PC MONAKER GROUP INC 6NIN S-1 Advertising
Lucosky Brookman LLP DAT CHAT INC ~ 1-A ~
Maslon LLP SKYLINE MEDICAL INC SKLN S-3 Orthopedic, prosthetic & surgical appliances & supplies
Mintz Fraade Law Firm, P.C. CLANCY CORP ~ S-1 ~
Mitchell Silberberg & Knupp LLP HELIOS & MATHESON ANALYTICS INC HMNY S-3 Business services
Proskauer Rose LLP GLOBAL NET LEASE INC GNL S-4 REIT
Reed Smith LLP FNB CORP/PA/ FNB S-4 Banks
Reed Smith LLP JAGUAR ANIMAL HEALTH INC JAGX S-1 Pharma
Sichenzia Ross Friedman Ference LLP MY SIZE INC MYSZ S-3 Electromedical & electro- therapeutic
Sichenzia Ross Friedman Ference LLP AYTU BIOSCIENCE INC RSWN S-1 Educational services
Skadden, Arps, Slate, Meagher & Flom LLP FNB CORP/PA/ FNB S-4 Banks
Smith, Gambrell & Russell, LLP SANUWAVE HEALTH INC SNWV S-1 Surgical, medical instruments
Summit Law Group, PLLC SENESTECH INC ~ S-1 Agricultural chemicals
Sutherland Asbill & Brennan LLP OWL ROCK CAPITAL CORP II ~ N-2 ~
Vinson & Elkins L.L.P. SMART SAND INC ~ S-1 Mining & quarrying nonmetallic minerals
Wachtell, Lipton, Rosen & Katz EXPEDIA INC EXPE S-4 Transportation services
Wilson Sonsini Goodrich & Rosati PC IRHYTHM TECHNOLOGIES INC ~ S-1 Surgical, medical instruments
Wyrick Robbins Yates & Ponton LLP AYTU BIOSCIENCE INC RSWN S-1 Educational services
Yadkin Financial Corp. FNB CORP/PA/ FNB S-4 Banks

Whether in-house, your-house or 100% virtual… click here to discover why we are the intelligent value for both traditional and confidential IPOs.

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.

Have a great week.

IPO Underwriters of the Week: Sept. 19 – 23 / plus “M&A pitfalls” whitepaper

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.

700_email-banneMM2(M&A whitepaper available here)

The week’s full market activity:

Registrant Form Underwriter 1 Underwriter 2 Underwriter 3 +
JAGUAR ANIMAL HEALTH INC S-1 Aspire Capital Fund, LLC ~ ~
SMART SAND INC S-1 Credit Suisse Securities LLC Goldman, Sachs & Co. ~
IRHYTHM TECHNOLOGIES INC S-1 J.P. Morgan Securities LLC Morgan Stanley & Co. LLC Canaccord Genuity Inc. / BTIG, LLC
AYTU BIOSCIENCE INC S-1 Joseph Gunnar & Co., LLC Feltl and Company, Inc. Fordham Financial Management, Inc.
ENTEROMEDICS INC S-1 Ladenburg Thalmann & Co. Inc. ~ ~
XENCOR INC S-3 Piper Jaffray & Co. ~ ~
SENESTECH INC S-1 Roth Capital Partners, LLC ~ ~
MONAKER GROUP INC S-1 ViewTrade Securities, Inc. ~ ~

Post IPO, thousands of organizations count on us to assure regulatory compliance and shareholder communications.

Click here to review the week’s IPOs and active securities law firms.

Have a great week

Mini-IPOs out number conventional IPOs, YTD

Today, the WSJ published a piece headlined Wall Street’s IPO Business: The Worst in 20 Years that chirpily reminded us that 2016 has been a dour year for IPOs.

“As of last Friday, just 68 companies had gone public on U.S. exchanges this year, raising $13.7 billion, according to Dealogic. At this point in 2015, 138 companies had listed on U.S. exchanges, raising $27.3 billion—a 62% drop from the same period in 2014.”

I propose another headline. Wall Street’s Mini-IPO Business: The Best in 20 Years.

68 companies via conventional IPOs… compared to 81 mini-IPOs via the Regulation A+ process. Agreeably, from the perspective of the WSJ article (impact on investment banks), it’s an apples to orange comparison, however from corporate quest for capital perspective – as well as the tangible “filing paperwork” perspective… a comparison can be made. (We know a lot about Reg A+)

In fact, many comparisons can be made.

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As you see, above, Reg A+ is not without costs.   

  • Expense: Upfront legal and accounting costs to prepare filings and secure SEC approval and infrastructure for ongoing SEC reporting obligations.
  • Time consuming: Process of preparing (SEC estimates 750 hours) to prep Form 1-A and offering circular; SEC review and approval may take several months.
  • Disclosure tasks of being public company: Under Reg A+ Tier 2, issuer is a quasi-public company and required to publicly disclose its financial results on a semi-annual basis and file current reports to disclose material events. Under Tier 1 offering, financial statements must be publicly available on SEC website at offering.

Also, the SEC is watching the filings carefully. Just last week the SEC, in the first action of its kind, has temporarily suspended a Tier 2 Regulation A+ offering because the registrant had not filed its annual report.

We held an expert’s webinar that details out the differences, both pro and con. You can watch it here.

 

PS: Yes, I know, Reg A+ has only been with us since June 2015, well within my 20-year data-point.

Investor relations and content credibility

Investor Relations Officers – and their support network – have been deep into content marketing long before content marketers were into content marketing. The lessons that IR can share with marketing are  1.) truth, 2.) transparency and 3.) building content credibility.

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That sounds pedestrian, however, the ramifications for a public company and its’ influencers’ content exaggeration has serious consequences via the SEC.

Washington D.C., Sept. 6, 2016 — 

The Securities and Exchange Commission today charged the CEO of a sexual health products retailer and a paid promoter with orchestrating fraudulent promotional campaigns to tout the company’s stock.

The SEC alleges that Scott S. Fraser, who also was a major shareholder in Las Vegas-based Empowered Products Inc., separately ran a newsletter publishing business and hired Nathan Yeung to secretly help him promote Empowered Products through online newsletter articles purportedly authored by independent writers. But Fraser and Yeung actually authored, authorized, and distributed the rosy articles about Empowered Products themselves, working under such pseudonyms as “Charlie Buck” and then hiring other promoters to disseminate the promotions to their respective subscriber lists in exchange for fees. Meanwhile the promotions failed to disclose that Empowered Products and Fraser approved and paid for the advertisements.

Washington D.C., Sept. 16, 2016 — 

The Securities and Exchange Commission today announced fraud charges in a scheme involving illegal stock sales and false financial filings of a company that makes containers for growing marijuana.

An SEC investigation found that William J. Sears orchestrated the scheme along with his brother-in-law Scott M. Dittman, who was the CEO and sole officer at Fusion Pharm Inc. while Sears concealed his control from behind the scenes. Sears and Dittman hired Cliffe R. Bodden to help them create fraudulent corporate documents that enabled Fusion Pharm to issue common stock to three other companies controlled by Sears, who then illegally sold the restricted stock into the market for $12.2 million in profits while hiding the companies’ connection to Fusion Pharm.

Washington D.C., Sept. 13, 2016 — 

The Securities and Exchange Commission today announced that a self-proclaimed “stock trading whiz kid” and his stock newsletter company in Los Angeles have agreed to pay nearly $1.5 million to settle charges that they defrauded subscribers through false statements and misrepresentations.

You get the point.  Per the SEC, painting a “rosy” picture is punishable.

Fraudulent “advertising” has always been with us – however in the hot buzz of content marketing, it’s detrimental. Exaggerative content marketing of your services may not have the legal gravitas of equity markets’ pump-n-dump, however its important to recognize the ease of fact-checking by prospects is instantaneous. Your content credibility is instantaneous. Building trust (to drive an audience further along the buyer’s journey) is instantaneous.

Two examples:

  • The current presidential environment – fact checking is a real-time action during live speeches.

Most all of content marketing discussions focus on the creation of quality work ie whitepapers, blogs, infographics, webinars. IR departments, unlike marketing, don’t have the same freedom to “create” content – so content credibility is paramount. The mantra we express to clients…

“Shareholder communications builds shareholder confidence. Shareholder confidence builds shareholder value.”  

…is their investor’s/buyer’s journey. Marketing certainly has better tracking mechanisms for their buyers, but the end product is the same. (Substitute the word “customer” in staed of “shareholder” and you’ll understand what I mean.)

Honing XBRL quality: FASB 2017 GAAP Taxonomy Release webinar

The Financial Accounting Standards Board (FASB) is preparing for their annual FASB Accounting Standards Updates – which includes changes to the 2017 XBRL taxonomies.

  • Date: Tuesday, October 4, 2016
  • Time: 1:00 pm EDT

In advance of the webinar, details of the changes can be viewed here. XBRL practitioners are also invited to comment.

FROM FASB:

Through this session, participants will gain a better understanding of how the changes in the 2017 Taxonomy Release will affect XBRL exhibits. Participants also will gain insight into expected changes as a result of ASUs, topical projects, and new structural components to assist with usability.

The agenda will include:

  1. Update from the SEC staff
  2. Proposed changes to the 2017 Taxonomy for new Accounting Standards Updates
  3. Update on Taxonomy Implementation Guides
  4. New structural components, including extensible lists and typed dimensions
  5. Overview of the 2017 Taxonomy Release, including the restructuring of change and deprecation labels.

The webinar is free. CLICK HERE

XBRL quality has been an ongoing challenge, for numerous reasons – least of all regulatory avoidance and “end-user” apathy. That’s quickly and finally changing – and kudos to FASB for always being a champion.

Vintage and our XBRL accountants are champs too!

The SEC is being questioned by the Chamber regarding Mutual Fund e-delivery reversal

This month, the leader of the U.S Chamber of Commerce, via their Center for Capital Markets Competitiveness, told SEC Chair Mary Jo White that they are “extremely dismayed” regarding the August announcement that the SEC has “abandoned proposed Rule 30e- 3, which would permit mutual funds to deliver reports to shareholders by making them available on the internet.” This reversal is reported to be a result of lobbyists for the paper industry.

pvd

From Tom Quaadman, executive vice president of the Chamber’s Center for Capital Markets:

“We believe that the SEC should move away from a 1930’s paper based model and embrace the information delivery systems used by the general public, including investors and the businesses they invest in. Backing away from the Proposed Rule, which would further support the ability of investors to choose between paper-based or electronic delivery of shareholder reports, is a major step backwards. In fact, we believe that this decision runs counter to the Commission’s tripartite mission of protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation and ignores the significant demand for electronic access to such documents.”

Juxtapose this with what the WSJ reported last month when they first wrote on the SEC backtrack:

“It’s easy to think the world has gone digital,” said John Runyan, a former lobbyist for International Paper Co. who now runs Consumers for Paper Options. “The trend lines are in that direction, but why do we want to disadvantage the people who are least likely to manage that transition?”

Mutual funds depicted themselves as progressives countering Luddites, and as ardent environmentalists. Paper mailings are a vestige of “a bygone era” when people used to go to stores to rent VHS tapes, David Blass, general counsel for the Investment Company Institute, an industry group, said in a March speech. “Count all the harmful compounds emitted during paper manufacturing—along with the massive amounts of waste that discarded paper produces,” he said, “and we’re absolutely crushing the environment here.”

And this:

Consumer groups warned the SEC proposal would reduce readership of important documents. “We simply have not yet reached the point in this country where a sufficient percentage of investors prefer to receive disclosures electronically to justify a default to electronic delivery,” Barbara Roper, the head of investor protection at the Consumer Federation of America, told the SEC.

Confused? What they are talking about is bringing Notice and Access into the Mutual Funds’ communications environment.

There is a VERY APPROPRIATE historical precedent here. Don’t ANY of these people own equities?

As most all know in the equities markets, Notice and Access was adopted in 2008 by corporate issuers for their annual report and proxy materials. It’s the formal regulatory defined process under which issuers and other soliciting entities can meet their proxy delivery requirements by posting proxy materials on a website, notifying shareholders of the availability of such materials and sending paper or email copies of such materials upon request. Digital documents and internet distribution is the default. Paper documents and hardcopy-mail distribution is the opt-in.

Currently, Mutual Fund fulfillment is still the opposite. Prospectuses and reports are printed and mailed by default and e-delivery is the opt-in. FYI: Our Mutual Funds teams support both media – for equities and funds. The front-end (detailed) work is exactly the same.

Order your free copy of this 30 page report. (click image)

Order your free copy of this 30 page report. (click image)

Now, if I were not such an optimistic person, regardless of the pundits above, I’d possibly imply that the battle over Rule 30e- 3 is not about shareholder transparency nor saving trees. The equities markets shaved millions off their IR budget… and (ignoring the detail that we are a top-thee EDGAR filer and financial printer) certainly and quite literally tons of 10-Ks and proxy books went directly into trash cans. That is undeniable.

One last point. Per the pundit above, I don’t know what is defined as a “sufficient percentage of investors,” but as you can read in our How are Investors Consuming your Investor Relations Content study, only 39% of Wall Street investors and 32% of Main Street investor prefer printed annual reports.

REQUEST REPORT HERE.

IPOs and Transactions: Sept. 12 – 16 / plus “M&A pitfalls” whitepaper

There were 33 transactions filed with the SEC last week.

Congratulations to all of the corporations and law firms that selected our transactions services last week including Lilis Energy Inc. w/ K&L Gates LLP, Interleukin Genetics Inc. w/ Ferris, Glovsky and Popeo PC, Stellar Biotechnologies Inc. w/ Greenberg Traurig LLP, Limbach Holdings Inc. w/ Winston & Strawn LLP and Golub Capital Investment Corp. w/ Dechert LLP.

700_email-banneMM2

Law firm / advisor Registrant Symbol Form Industry
American Cannabis Company, Inc. AMERICAN CANNABIS COMPANY INC AMMJ S-1 ~
Baker, Donelson, Bearman, Caldwell & Berkowitz, PC COMMUNITY HEALTHCARE TRUST INC CHCT S-3 ~
Bass, Berry & Sims PLC MID AMERICA APARTMENT COMMUNITIES INC MAA S-4 REITs
Buchalter Nemer, PC HERITAGE COMMERCE CORP HTBK S-3 Banks
Cooley LLP CERECOR INC CERC S-1 Pharma
Davis Wright Tremaine LLP MERCER INTERNATIONAL INC MERC S-3 Pulp mills
Dechert LLP GOLUB CAPITAL INVESTMENT CORP 10-12G
Faegre Baker Daniels, LLP SUN BIOPHARMA INC CRSO S-1 Computer systems design
Goodwin Procter LLP FATE THERAPEUTICS INC FATE S-3 Biological products
Goodwin Procter LLP LOGMEIN INC LOGM S-4 Software
Goodwin Procter LLP MID AMERICA APARTMENT COMMUNITIES INC MAA S-4 REITs
Goodwin Procter LLP MIMECAST LTD MIME F-1 Security systems
Goodwin Procter LLP MYOKARDIA INC MYOK S-1 Pharma
Grady & Associates MIDDLEFIELD BANC CORP MBCN S-3 Banks
Greenberg Traurig, LLP STELLAR BIOTECHNOLOGIES INC SBOT S-3 Pharma
Hunter Taubman Fischer & Li, LLC AMERICAN BRIVISION (HOLDING) CORP ECOCQ S-1 Industrial machinery & equipment
Incorp Services, Inc. GALEM GROUP INC ~ S-1 ~
Jones Day NEWELL BRANDS INC NWL S-4 Plastics
K&L Gates LLP LILIS ENERGY INC LLEX S-1 Crude petroleum & natural gas
King & Spalding LLP MID AMERICA APARTMENT COMMUNITIES INC MAA S-4 REITs
Kirkland & Ellis LLP VANTAGE ENERGY INC VEI S-1 Crude petroleum & natural gas
Latham & Watkins LLP EXTRACTION OIL & GAS LLC ~ S-1 Crude petroleum & natural gas
Latham & Watkins LLP LOGMEIN INC LOGM S-4 Software
Latham & Watkins LLP MYOKARDIA INC MYOK S-1 Pharma
LoPresti Law Group, P.C. ACA/PRISM MULTI-STRAT ALTERNATIVES FUND ~ N-2 ~
Meister Seelig & Fein LLP PROTAGENIC THERAPEUTICS INC ATRNQ S-1 Business services
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. INTERLEUKIN GENETICS INC ILIU S-1 In vitro diagnostics
Mitchell Silberberg & Knupp LLP VIVEVE MEDICAL INC VIVE S-3 Electro- medical
Morgan, Lewis & Bockius LLP NUVEEN ENHANCED MUNICIPAL VALUE FUND NEV N-2 Finance services
Reed Smith LLP STOCOSIL INC ~ 1-A Pharma
Sangra Moller LLP MERCER INTERNATIONAL INC MERC S-3 Pulp mills
Sichenzia Ross Friedman Ference LLP BIOPHARMX CORP BPMX S-3 Pharma
Sichenzia Ross Friedman Ference LLP DELMAR PHARMACEUTICALS INC DMPI S-3 Pharma
Simpson Thacher & Bartlett LLP APX GROUP INC ~ S-4 Business services
Skadden, Arps, Slate, Meagher & Flom LLP GREAT ELM CAPITAL GROUP INC GEC S-3 Software
Sonfield & Sonfield LODE-STAR MINING INC ITGC S-1 Gold & silver ores
Vinson & Elkins L.L.P. EXTRACTION OIL & GAS LLC ~ S-1 Crude petroleum & natural gas
Vinson & Elkins L.L.P. VANTAGE ENERGY INC VEI S-1 Crude petroleum & natural gas
White & Case LLP MIMECAST LTD MIME F-1 Security systems
Windels Marx Lane & Mittendorf, LLP UNITY BANCORP INC UNTY S-1 Banks
Winston & Strawn LLP LIMBACH HOLDINGS INC TFSC S-3 Blank check

Whether in-house, your-house or 100% virtual… click here to discover why we are the intelligent value for both traditional and confidential IPOs.

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.

Have a great week.

IPO Underwriters of the Week: Sept. 12 – 16 / plus “M&A pitfalls” whitepaper

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.

700_email-banneMM2

Registrant Form Underwriter 1 Underwriter 2 Underwriter 3 +
CERECOR INC S-1 Aspire Capital Fund, LLC ~ ~
LODE-STAR MINING INC S-1 Crane Creek, Inc. ~ ~
EXTRACTION OIL & GAS LLC S-1 Credit Suisse Securities LLC Barclays Capital Inc. Goldman, Sachs & Co.
MYOKARDIA INC S-1 Credit Suisse Securities LLC Cowen and Company, LLC BMO Capital Markets Corp.
VANTAGE ENERGY INC S-1 Goldman, Sachs & Co. / Barclays Capital Inc. / Credit Suisse Securities LLC / Citigroup Global Markets Inc. / J.P. Morgan Securities LLC / Wells Fargo Securities, LLC Merrill Lynch, Pierce, Fenner & Smith Inc. / Capital One Securities, Inc. / Deutsche Bank Securities Inc. / KeyBanc Capital Markets Inc. / SunTrust Robinson Humphrey, Inc. / Tudor, Pickering, Holt & Co. Securities, Inc. ABN AMRO Securities LLC / Robert W. Baird & Co. / BOK Financial Securities, Inc. / Fifth Third Securities, Inc. / Heikkinen Energy Securities, L.L.C. / Williams Trading, LLC
MIMECAST LTD F-1 J.P. Morgan Securities LLC Barclays Capital Inc. Goldman, Sachs & Co. / Jefferies LLC / RBC Capital Markets, LLC / Oppenheimer & Co. Inc. / Dougherty & Company LLC
STOCOSIL INC 1-A Monarch Bay Securities, Inc. ~ ~
NUVEEN ENHANCED MUNICIPAL VALUE FUND N-2 Nuveen Securities, LLC ~ ~
AMERICAN CANNABIS COMPANY INC S-1 Tangiers Global, LLC ~ ~

 

Post IPO, thousands of organizations count on us to assure regulatory compliance and shareholder communications.

Click here to review the week’s IPOs and active securities law firms.

Have a great week.

VIDEO: What makes a company a strong IPO candidate

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As you’ll hear from our experts, the decision to go public, whether traditional IPO or mini-IPO, is a mosaic of many factors:

Business

  • —Does the business provide a unique service or product that doesn’t have direct competitors?
  • —If the business has publicly traded competitors, what makes it unique?
  • Cost structure (e.g. more efficient manufacturing, differentiated geographic footprint)?

Size / Scale

  • —Does the company currently have size and scale?
  • If no, is there an opportunity and plan to reach a sufficient size to be meaningful for institutional investors?

Rational

  • —Use of proceeds
  • —Additional capital required to grow
  • —Employee recruitment and retention

Company Readiness

  • —Adequacy of internal financial reporting and accounting controls (Sarbanes-Oxley)
  • —Short-term and long-term business outlook
  • —Financial performance trends and metrics for valuation
  • Predictability of operations and confidence in projections

Management Readiness

  • —Quality and depth of management team
  • —Public company experience
  • —Performance expectations

Successful IPOs can make founders, owners and senior executives millionaires overnight, at least on a spread sheet. Equally, millions of equity financing can also be raised overnight—dollars that will be essential for fueling growth initiatives: new products, expanded markets, employee hires, research and development and acquisitions

If you enjoyed the brief snippet, listen to the complete webinar HERE.

WATCH_VIDEO_BUTTONblog-photo

 

REPORT: 90% of investors say infographics drive understanding

Certainly, it’s not breaking news that people like visuals – but that over 60% of institutional investors (and individual!) report that visuals affect their actual buying decisions is very actionable information for shareholder communicators.

q7_2016_100072fix

Emphasize with visuals

Audio earnings calls are the cranky-old-men of investor relations. Stubborn to change, yet a valuable part of the family.

However, shareholder communications is now (and forever) a visual, web-based media and not utilizing this storytelling strength is a mistake. Embedding a few key PowerPoint slides into your quarterly reporting – both the webcast and the news release – will improve your storytelling as well as the discoverability of your news.

One point: keep GAAP and non-GAAP at equal visual prominence.


LEARN MORE INCLUDING VERBATIM “OTHER” COMMENTS: Our new “Shareholder Confidence 365 Study booklet is now available. You can order a printed copy here.


About the study:

Initially launched in 2012, the Shareholder Confidence 365 Study is an ongoing survey targeted at two key constituents with whom public companies communicate: institutional investors and individual investors. It was the first study of its kind — directly asking investors how they consume investor relations content. In 2014, we published an updated study.

For this 2016 iteration, we have segmented and compared the results between institutional investors and individual investors. To date. we have accumulated over 6,870 responses from a pool of 16,000 buy-side analysts & portfolio managers and from over 15,000 long-term holding retail investors. There are 29 questions.