Monthly Archives: June 2016

The Ins and Outs of Preparing for an IPO: Phase three

This is the seventh in a series of posts: The Ins and Outs of Preparing for an IPO -What Your Company Needs to Know. 

Phase III – The post-IPO and realization

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The last stage of the IPO journey, which usually lasts one to 24 months, begins after shares are priced and allocated to institutional investors.  At this stage, aftermarket trading and the “real work” of being a public company begins. The initial euphoria of the IPO, fuelled in part by investors’ interest in IPOs and by press coverage, can maintain share price. However, should the market’s interest in the company wane, trading volume and value of the company’s shares will also decline.

Developing an aftermarket strategy

Once the IPO is over, the newly minted public company must implement a proactive investor relations strategy to attract the optimal ownership mix and long-term pipeline in the aftermarket. A key element to this strategy is attracting equity research analyst coverage and establishing an ongoing dialogue through carefully constructed messages to the targeted investors and analysts. Management must assess their knowledge of the breadth of their coverage to help them understand their company.

A company must also strive for accuracy in its projections and forecasts so that targets are reached. A single negative news report that is not well-managed by the investor relations team can have negative consequences on a company’s stock price.  This often comes down to managing shareholder and analyst expectations.

Delivering on its growth promise is a key element to any aftermarket strategy. This means continued execution of the company’s business plan and meeting financial targets on a consistent basis. Central to keeping this momentum is demonstrating the use of IPO capital to accelerate growth, whether by expanding into new geographic areas, acquiring other companies, developing new products, or upgrading technology. Conversely, investors are wary of investing in companies where management is cashing out by selling more than 30 percent of their shares.

Managing post-IPO risk and regulatory compliance

The risk management and regulatory compliance framework established during the pre-IPO stages should not be neglected once a company goes public. Rather, a concerted effort to maintain this infrastructure will be required to manage ongoing risks ranging from financial reporting to compliance to growth initiatives.

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More specifically, an EY study revealed that the top two internal business concerns to investors are cash flow management and regulatory and compliance risk.

Companies are often well-supported until the IPO, but then once they are public, things can get complicated. They should be prepared for issues that may arise following the IPO launch. A maturing public company will need to return periodically to the beginning of the IPO cycle, and recreate strategies and processes to deal with life as a public company.

Conclusion

The transformation from a private company to a public enterprise is often seen as a crowning achievement that can lead to an exhilarating and profitable journey. However, the lure of successfully launching a company into the public sphere should not detract company ownership from thoroughly examining other capital-raising alternatives, even if a company is a suitable IPO candidate.

Not only must senior management lay out a detailed plan to go public, they must be prepared to undertake a lengthy process characterized by many pitfalls and risks that private companies do not have to face. This frequently involves establishing and integrating many complex procedures and structures. It also requires molding a diverse and wide-ranging team of players—including the management team, board of directors and external advisors—into a cohesive unit working effectively for a common objective.

Besides the internal challenges, going public also places new external imperatives on a company seeking public status. Senior management must be prepared to face new levels of public scrutiny, and to convey a positive growth message to convince investors that the company is indeed ready to go public and sustain growth beyond the IPO launch.

Only a senior management team with the vision and discipline to simultaneously undertake these challenges over a sustained timeframe will successfully reap the benefits of a public offering.

The SEC is closed for the Independence Day Holiday: Monday, July 4th

In honor of Independence Day, the SEC is closed on Monday, July 4, 2016. No files can be received. Plan accordingly with your Vintage Account Team.

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Files submitted after 5:30 pm ET, Friday, July 1, 2016 will receive a filing date of Tuesday, July 5, 2016 and will be posted to the public on Tuesday, July 5, 2016 at 6:00 AM ET.

As with other holiday closings, the following file types will receive a Friday, July 1, 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, July 4, 2016, the SEC will move the due date to the next business day, Tuesday, July 5, 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.

Have a great holiday.

Don’t under-communicate Brexit’s impact to investors

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If you watch CNN, you know Brexit is now the crisis du jour. The early dip in the global stock markets were severe, but not devastating but have left both Wall Street and Main Street buried in a Chunnel full of what ifs and now whats. Certainly, our 401Ks may well take a short-term hit, however the global economy, not unlike investor relations, is a long-term play. That said, keeping US-based shareholder value high is paramount, and to do that shareholder confidence must remain high… and that requires shareholder communications.

The first step for US investor relations departments prior any commutations: Think like an investor. Where will their concerns lie? How can you hold their confidence?

  • Understand the actual fiscal exposure your company has in the UK, germane for banks and financial services corporations. Work with the models your investors use to see the impact. Call your top US investors for their perceptions.
  • Will London lose its weight as an investor destination? Call your top UK investors for their perceptions. What are their plans?
  • Pundits are already stating that NYC will become a stronger investor destination. Re-run your targeting models and non-deal roadshow schedules?
  • London may no longer be a gateway to EU investors. Do you need to directly pierce your messaging deeper into the EU? What is your financial brand like in these non-Anglo countries?
  • Understand the actual tangible physicality your company: factories, employees, suppliers. Will a lower pound be positive or negative?

I guess the base question is – and a company can only answer this individuallywhat if there is probable material impact? Does IR wait until the next quarterly call to disclose that? Do you let The Street write their own narratives about your value? Do you, if you pardon the PR parlance, “get ahead of this crisis” before it becomes a crisis? Preparation, not panic.

Shareholder communications builds shareholder confidence. Shareholder confidence builds shareholder value.

What / how is the best way to communicate with investors? Request our new “How Investor Relations Consume IR Content” study.

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It’s a printed report. We will mail you. Ink on paper!

IPOs and Transactions: June 20 – 24 / plus new Wall Street investor report

There were 31 transactions filed with the SEC this week.

Congratulations to all of the corporations and law firms that selected our transactions services last week. We appreciate that they selected to work with us and we’re pleased that they found us to be the intelligent value.

Below is a complete list of the week’s transactions.

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Law firm / advisor Registrant Symbol Form Industry
AltaVista Capital Markets, LLC ALTAVISTA CAPITAL MARKETS LLC ~ 1-A ~
Astics, Inc. ASTICS INC ~ 1-A ~
Baker Botts L.L.P. CENTENNIAL RESOURCE DEVELOPMENT INC ~ S-1 ~
Barack Ferrazzano Kirschbaum & Nagelberg LLP MIDWESTONE FINANCIAL GROUP INC MOFG S-3 Banks
Bofat Investment Inc BOFAT INVESTMENT INC ~ 1-A ~
Chapman and Cutler LLP NUVEEN SENIOR INCOME FUND NSL N-2 Equity Investment Instruments
Clyde Snow & Sessions, PC PREMIER BIOMEDICAL INC BIEI S-1 Biotechnology
David M. Seeberger, Esq. ROCKY MOUNTAIN HIGH BRANDS INC ~ 10-12G ~
Ellenoff Grossman & Schole LLP CONYERS PARK ACQUISITION CORP ~ S-1 ~
Foley & Lardner LLP SUNSHINE BANCORP INC SBCP S-4 Banks
Frost Brown Todd LLC PORTER BANCORP INC PBIB S-1 Banks
Gibson, Dunn & Crutcher LLP MEDPACE HOLDINGS INC ~ S-1 ~
Greenberg Traurig, LLP MOBIVITY HOLDINGS CORP MFON S-1 Software
Hogan Lovells US LLP WESTFIELD FINANCIAL INC WFD S-4 Banks
Investors Real Estate Trust INVESTORS REAL ESTATE TRUST IRET S-3 Diversified REITs
Kirkland & Ellis LLP CONYERS PARK ACQUISITION CORP ~ S-1 ~
Latham & Watkins LLP ACUSHNET HOLDINGS CORP ~ S-1 ~
Latham & Watkins LLP MEDPACE HOLDINGS INC ~ S-1 ~
Latham & Watkins LLP ACHAOGEN INC AKAO S-3 Biotechnology
Latham & Watkins LLP GOLDEN ENTERTAINMENT INCORPORATED GDEN S-3 Gambling
Libertas Law Group, Inc. REED’S INC REED S-3 Soft Drinks
Loeb & Loeb LLP NV5 GLOBAL INCORPORATED NVEE S-3 Business Support Services
Lowenstein Sandler LLP ARCH THERAPEUTICS INC ARTH S-1 ~
Luse Gorman, PC WESTFIELD FINANCIAL INC WFD S-4 Banks
Olshan Frome Wolosky LLP IZEA INCORPORATED IZEA S-3 Specialty Finance
Paul Hastings LLP VIKING THERAPEUTICS INC VKTX S-3 ~
Pillsbury Winthrop Shaw Pittman LLP VIOLIN MEMORY INC VMEM S-3 Computer Hardware
Proskauer Rose LLP ARES CAPITAL CORP ARCC N-2 Equity Investment Instruments
Reed Smith LLP JAGUAR ANIMAL HEALTH INC JAGX S-1 Biotechnology
Ruskin Moscou Faltischek, P.C. ROOT9B TECHNOLOGIES INCORPORATED RTNB S-1 Software
Silver, Freedman, Taff & Tiernan LLP DNB FINANCIAL CORP /PA/ DNBF S-4 Banks
Simpson Thacher & Bartlett LLP ACUSHNET HOLDINGS CORP ~ S-1 ~
Smith Mackinnon PA SUNSHINE BANCORP INC SBCP S-4 Banks
Steven R. Skirvin, Esq. ANFIELD ACQUISITIONS INC ~ S-1 ~
Stradley Ronon Stevens & Young, LLP DNB FINANCIAL CORP /PA/ DNBF S-4 Banks
Stradley Ronon Stevens & Young, LLP NUVEEN SENIOR INCOME FUND NSL N-2 Equity Investment Instruments
Vinson & Elkins L.L.P. CENTENNIAL RESOURCE DEVELOPMENT INC ~ S-1 ~
Vinson & Elkins L.L.P. GLOBAL PARTNERS LP GLP S-3 Exploration & Production
Vinson & Elkins L.L.P. NEXEO SOLUTIONS INC WLRHU S-3 Specialty Finance

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: June 20 – 24 / plus new Wall Street investor report

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 1 Underwriter 2 Underwriter 3 +
JAGUAR ANIMAL HEALTH INC S-1 Aspire Capital Fund, LLC ~ ~
CENTENNIAL RESOURCE DEVELOPMENT INC S-1 Credit Suisse Securities LLC Barclays Capital Inc. ~
CONYERS PARK ACQUISITION CORP S-1 Deutsche Bank Securities Inc. Goldman, Sachs & Co. Cantor Fitzgerald & Co.
ACUSHNET HOLDINGS CORP S-1 J.P. Morgan Securities LLC Morgan Stanley & Co. LLC. Nomura Securities International, Inc. / UBS Securities LLC / Credit Suisse Securities LLC / Daiwa Capital Markets America Inc./ Deutsche Bank Securities Inc./ Jefferies LLC / Wells Fargo Securities, LLC
MEDPACE HOLDINGS INC S-1 Jefferies LLC Credit Suisse Securities LLC UBS Securities LLC / Wells Fargo Securities, LLC / Robert W. Baird & Co. Inc. / William Blair & Company, L.L.C.
VIKING THERAPEUTICS INC S-3 Maxim Group LLC ~ ~
PREMIER BIOMEDICAL INC S-1 Redwood Management, 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.

NIRI conference photos (batch 3) and Wall v. Main report about investors

Why do we like attending the National Investors Relations Institute 2016 Annual Conference? Because it’s the only time when passionate IR practitioners (and decision maker$) get together to share ideas, swap notes and have a little comradery-ish fun.

Yeah. We love this IR stuff. It was the perfect environment to introduce our new “Shareholder Confidence 365 Study” paper.

You can order a printed copy here.


NIRI PHOTOS BATCH #3! Click here for batch #2

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Thank you to the NIRI Staff and the members for such a positive experience! See you in Orlando, 2017!

 

How to engage with investors in the age of the activist: preparing well in advance

Investors have learned that it pays to be aggressive when it comes to boardroom fights. As a result, companies are preparing for activist campaigns well in advance.

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THIS IS PART FOUR OF A SERIES: read Part Three.


QUESTION > How can you take into account the views of an activist investor while maintaining corporate strategy and not alienating other shareholders?

Chris Ruggieri > In the case of activism, I think the best defense is a good offense. This means not just running your company well and making good decisions, but also routinely revisiting them. There is a big debate about whether shareholder activism is good or bad, and that debate will likely rage on forever. But if there is one good thing to come out of the current wave of activism, it’s that we are seeing companies more routinely evaluate strategic alternatives, transaction possibilities, and business performance. We’re also seeing an increased focus on capital allocation at the board level, meaning that board directors are asking more questions about the approach and process that management goes through to evaluate its strategic choices. I think that is really healthy and positive for companies and their shareholders.

There is also no one single profile of activists – they have different personalities, different strategies. Some activists are very discreet in the way they engage and interact with companies, while others have become quite adept at leveraging the media and using social media, for example, to get their point of view across. There are certain activists that regularly use social media as a platform for broadcasting their point of view and their message.

Jason M. Halper > Ideally, the key is to have ongoing dialogue and engagement. So before an activist is on the scene, the company should be looking at vulnerabilities. Is there a big cash pile on hand? Is the company underperforming? Is the share price down? Has there been a material negative event? Things such as that might attract an activist, and you should be preparing for how to respond if someone comes on the scene, or if institutional investors have concerns. Hopefully, in the course of dialogue with an activist or an institutional shareholder, the company can be persuasive as to what it is doing to address the issue.

Lex Suvanto > From the vantage point of a company, an activist investor is usually an unwelcome challenge. Companies and management teams build their own strategies and have their own plans for the future – they’re instituting initiatives to maximize shareholder value based on the information they have. Often it’s not easy to have to deal with an activist investor who is suggesting significant changes to the way things are being run or to the teams running the company. As a result, many of the strategies that companies are pursuing now – including governance engagement and the cultivation of long-term investors – are built around trying to create a stronger base of shareholder relationships.

However, activists are not always seen as a negative. I’ve spoken to a lot of long-term investors who have told me that they agree with the activist 90% of the time. If you’re asking the question from the vantage point of the investment community, the presence of an activist is often thought of as a potentially good thing.

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John Viglotti > The issue does come up when companies are considering how to approach their communications materials. When you have an activist investor, it can end up in a proxy fight, which can play out almost like a political campaign. Both sides hire proxy advisors and generate press releases about why shareholders should vote a certain way. Both sides may put up specialized websites around the issues. The intensity of them varies, but proxy fights really do ratchet up the level of shareholder communications, and companies and activists spend a lot of money to win support, including on things such as full-page ads in the Wall Street Journal. After all, a big activist has a lot of money at stake.

Kai Haakon E. Liekefett > The issue of how to deal with activists is the billion- dollar question. The legal standard is straightforward. In most US states, the board has a fiduciary duty to act in the best interests of the company and all the shareholders. You would be violating your fiduciary duty if you took a corporate action just to silence an activist investor if you didn’t believe the action was in the best interests of all shareholders.

Now, many activists call for the sale of a company – and not because they think it’s in the interests of all shareholders. They do it because it is the most efficient way for them to realize a significant return on investment. So when you face these activists, you basically have a decision to make. If you agree with them that now is the time to sell, you sell – that’s fine. But if you don’t agree and you cave just because you are concerned about a potentially nasty proxy contest and about what that could do to your reputation, then you have not been doing your job and you have violated your fiduciary duties.

This is not just theory. There was a case last August in the Delaware Chancery Court that has received astonishingly little coverage in the media, titled In re PLX Technology Inc. Stockholders Litigation. In that case, an activist launched a proxy contest against a company, arguing that it was time to sell. The board vehemently disagreed, but it lost a proxy vote for minority representation on the board. Following the proxy vote, the majority of board directors remained the same who had vehemently argued against selling the company – and yet the board decided, “Okay, we will sell the company anyway.” Shareholders sued, and the Delaware Court ruled that the board’s decision constituted a breach of fiduciary duty.

XBRL Data Quality Committee’s validation rules decrease errors 64% in Q1 2016 SEC filings

The XBRL US Data Quality Committee (Vintage is a founding member, BTW!) announced that corporate filers reduced the number of errors in their XBRL filings (for the data covered by the Committee published rules) by 64 percent in Q1 2016 as compared to Q1 2015.

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To view results of the analysis: https://xbrl.us/data-quality/dqc-results/

“We’re very enthused by the results measured from the first full quarter of rule implementation,” said founding committee member Chase Bongirno, Senior Manager – XBRL, Vintage. “We’ve worked diligently with our clients to guide them, both tactically and conceptually, concerning the trickle-up importance of accuracy. There’s no broad adoption of the XBRL data without quality,” finished Chase. “Accuracy is not optional.”

The XBRL US Data Quality Committee rules are freely available and can be accessed on the XBRL US website or directly from Vintage’s XBRL team. When the rules identify a potential error, they provide detailed information on the potential error with guidance on how to correct it.  In addition, an explanation of each rule’s function is available in a PDF document.

FROM XBRL US ANNOUNCEMENT

“We’re pleased that we now have clear evidence that filers are actively embracing the new data quality rules. Greater consistency and quality in XBRL-formatted financials significantly improves investor access to financial data,” said Craig Lewis, Professor of Finance, Vanderbilt University, and former SEC Chief Economist.

The Data Quality Committee will publish a second release of guidance and validation rules for public comment shortly.

To access the rules: https://xbrl.us/data-quality/rules-guidance.

The XBRL US Center for Data Quality provides funding for the Data Quality Committee. In addition to Vintage’s founding-member status, members of the Center include our partners Certent and DataTracks.

Our XBRL team, lead by Chase, has always had a wonderfully stubborn, inflexibility towards quality. The “flex” in our successful fleXBRL program refers to which XBRL tag and review process best matches your reporting workflow!

REPORT: 53% of investors won’t even consider your stock without an IR website

Imagine you are a sales person and you only answer the phone 47% of the time. That’s the metaphor companies need to consider regarding not having an IR website. Small-caps, please heed this.

It does seem that institutional investors (W) are a bit more “trusting” in regard to needing to “visually validate” an issuer online. Having access to sell-side reports is probably accounts for the delta between the streets.

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Here are some examples of the sites we host: we can build a variety of design formats – at a variety of service packages to fit into a budget.

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

IPOs and Transactions: June 13 – 17 / plus Reg A+ Form 1-A Worksheet

There were 52 transactions filed with the SEC this week.

Congratulations to all of the corporations and law firms that selected our transactions services last week. We appreciate that they selected to work with us and we’re pleased that they found us to be the intelligent value.

Below is a complete list of the week’s transactions.

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Law firm / advisor Registrant Symbol Form Industry
Akerman LLP IDI INC IDI S-3 Media Agencies
Alston & Bird LLP FIRST CASH FINANCIAL SERVICES INC FCFS S-4 Consumer Finance
Armstrong Simpson NATCORE TECHNOLOGY INC ~ F-1 Semiconductors
Astics, Inc. ASTICS INC ~ 1-A ~
Ballard Spahr LLP OPGEN INC OPGN S-3 ~
Barack Ferrazzano Kirschbaum & Nagelberg LLP FIRST MID ILLINOIS BANCSHARES INC FMBH S-4 Banks
Christen P. Lambert, Atty. POCKET SHOT CO ~ S-1 ~
Cleary Gottlieb Steen & Hamilton LLP TPI COMPOSITES INC ~ S-1 ~
Cooley LLP ORTHOPEDIATRICS CORP ~ S-1 ~
Cooley LLP ACLARIS THERAPEUTICS INC ACRS S-1 ~
Cooley LLP ARENA PHARMACEUTICALS INC ARNA S-3 Biotech
Cooley LLP EIGER BIO PHARMACEUTICALS INCORPORATED EIGR S-3 Biotech
Davis Polk & Wardwell LLP TGLT S.A. ~ F-1 ~
Davis Polk & Wardwell LLP CLIFFS NATURAL RESOURCES INC CLF S-1 Iron & Steel
DLA Piper LLP GENMARK DIAGNOSTICS INC GNMK S-3 Medical Equipment
Dorsey & Whitney LLP TRI-STATE GENERATION & TRANSMISSION ASSOCIATION INC ~ S-4 ~
Downey Brand LLP CENTRAL VALLEY COMMUNITY BANCORP CVCY S-4 Banks
Ellenoff Grossman & Schole LLP HEDGEPATH PHARMACEUTICALS INCORPORATED CBTE S-1 Biotech
Faegre Baker Daniels LLP AV HOMES INC AVHI S-3 Real Estate Holding & Development
Foley Hoag LLP CELLECTAR BIOSCIENCES INCORPORATED CLRB S-3 Pharma
Frederick M. Lehrer, Attorney and Counselor at Law DYNAMIC ENVIRO INC ~ S-1 ~
Gibson, Dunn & Crutcher LLP ABBOTT LABORATORIES ABT S-4 Pharma
Goodwin Procter LLP TPI COMPOSITES INC ~ S-1 ~
Goodwin Procter LLP FUNDRISE EAST COAST OPPORTUNISTIC REIT LLC ~ 1-A Real Estate
Goodwin Procter LLP FUNDRISE MIDLAND OPPORTUNISTIC REIT LLC ~ 1-A Real Estate
Goodwin Procter LLP FUNDRISE WEST COAST OPPORTUNISTIC REIT LLC ~ 1-A Real Estate
Goodwin Procter LLP ATYR PHARMA INC LIFE S-3 ~
Hinckley, Allen & Snyder LLP BANKWELL FINANCIAL GROUP INCORPORATED BWFG S-4 Banks
Holland & Knight LLP TGLT S.A. ~ F-1 ~
Holland & Knight LLP GRIFFIN INSTITUTIONAL ACCESS REAL ESTATE FUND GIREX N-2 ~
Hunton & Williams LLP FIRST CASH FINANCIAL SERVICES INC FCFS S-4 Consumer Finance
Jones & Keller, P.C. YUMA DELAWARE MERGER SUBSIDIARY INC ~ S-4 ~
Jones Day CLIFFS NATURAL RESOURCES INC CLF S-1 Iron & Steel
Jones Day MPLX LIMITED PARTNERSHIP MPLX S-4 Pipelines
K&L Gates LLP NEOGENOMICS INC NEO S-3 Health Care Providers
K&L Gates LLP UNIVERSAL STAINLESS & ALLOY PRODUCTS INC USAP S-3 Iron & Steel
Kaplan Voekler Cunningham & Frank PLC HC GOVERNMENT REALTY TRUST INC ~ 1-A ~
Keating Muething & Klekamp PLL ATRICURE INC ATRC S-3 Medical Equipment
Kenneth B. Lerman, PC OPPORTUNITY ACQUIS CORP ~ 10-12G ~
Kramer Levin Naftalis & Frankel LLP PROSPECT INVESTMENT CORP ~ N-2 ~
Latham & Watkins LLP CAMPING WORLD HOLDINGS INC ~ S-1 ~
Latham & Watkins LLP ORTHOPEDIATRICS CORP ~ S-1 ~
LoPresti Law Group, P.C. NATCORE TECHNOLOGY INC ~ F-1 Semiconductors
Lucosky Brookman LLP MERIDIAN WASTE SOLUTIONS INCORPORATED BCKE S-1 Electrical Components & Equipment
Manatt, Phelps & Phillips, LLP CENTRAL VALLEY COMMUNITY BANCORP CVCY S-4 Banks
Matthew McMurdo, Esq. GLOLEX INC ~ S-1 ~
Michael A. Littman, Atty. POCKET SHOT CO ~ S-1 ~
Morrison & Foerster LLP JERNIGAN CAPITAL INC JCAP S-3 ~
Paul Hastings LLP CAPRICOR THERAPEUTICS INC CAPR S-3 Biotech
Paul, Weiss, Rifkind, Wharton & Garrison LLP HCP SPINCO INC ~ 10-12B ~
Porter Hedges LLP YUMA DELAWARE MERGER SUBSIDIARY INC ~ S-4 ~
Porter Hedges LLP PAR PACIFIC HOLDINGS INCORPORATED PARR S-3 Oil Equipment & Services
Sacks Tierney P.A. RAYONIER ADVANCED MATERIALS INCORPORATED RYAM S-3 Specialty Chemicals
Schiff Hardin LLP FIRST MID ILLINOIS BANCSHARES INC FMBH S-4 Banks
Sichenzia Ross Friedman Ference LLP BIOPHARMX CORPORATION BPMX S-3 Specialty Finance
Sichenzia Ross Friedman Ference LLP OWC PHARMACEUTICAL RESEARCH CORP DYAP S-1 Specialty Finance
Sichenzia Ross Friedman Ference LLP MEDOVEX CORPORATION MDVX S-1 Nonequity Investment Instruments
Sidley Austin LLP RANGE RESOURCES CORP RRC S-4 Exploration & Production
Skadden, Arps, Slate, Meagher & Flom LLP HCP SPINCO INC ~ 10-12B ~
Stradling Yocca Carlson & Rauth, P.C. XY – THE FINDABLES CO ~ 1-A ~
Vinson & Elkins LLP RANGE RESOURCES CORP RRC S-4 Exploration & Production
Wachtell, Lipton, Rosen & Katz ABBOTT LABORATORIES ABT S-4 Pharma
Weil, Gotshal & Manges LLP CAMPING WORLD HOLDINGS INC ~ S-1 ~
Wilmer Cutler Pickering Hale and Dorr LLP AVEO PHARMACEUTICALS INC AVEO S-3 Pharma
Wilson Sonsini Goodrich & Rosati, P.C. GODADDY INC GDDY S-3 ~
Wyrick Robbins Yates & Ponton LLP AYTU BIOSCIENCE INC RSWN S-1 Specialty Finance

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.