Monthly Archives: November 2016

XBRL beyond the 10-Q: experts champion broader content and analysis

Greater transparency, lower filing costs, reduced risks and better data quality – these long-promised benefits of XBRL are finally becoming a reality. As the XBRL landscape continues its swift evolution, we discussed the latest developments with five experts – as well as with a representative of the SEC.

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Vintage Question > XBRL is currently being used primarily for SEC quarterly filings, but does it hold possibilities for broader applications in accounting and financial data gathering? For which other sectors or tasks do you think it holds the most promise (e.g., insurance)? What about S-1, S-3 and S-4 filings?

Campbell Pryde > We think that XBRL should be used for anything with financial statement information. Overall, we feel the SEC needs to have a much more comprehensive data strategy.

If you’re asking for information from the capital markets today, they ask for the same information in many different ways. We have said repeatedly, “Please, if you’re asking someone to tell you what their assets are, ask for that information in a consistent way,” so that if someone reports assets to the SEC once, they don’t have to keep reporting it to them over and over again in a whole host of different formats.

One of the things we’d like to see is much more of this data being requested in XBRL.Data such as proxy information, hedge and mutual fund positions, corporate actions and earnings releases would be more useful for investors inan XBRL format.

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Outside of SEC reporting, we also have a few other initiatives. One is with the insurance industry, to get construction industry data in an XBRL format, and we’re also about to kick off an initiative with the Department of Energy, to have data on the financing of solar projects in XBRL as well. In addition, the Department of Labor (DOL) is looking to revamp the data collection for pension plans and this process would be greatly enhanced if data was reported in an XBRL format. Currently the DOL collects pension plan data in a PDF format and is used to guarantee pension plans by the government.

Hudson Hollister > There is currently legislation proposed in Congress, the Financial Transparency Act, that would require the SEC to adopt a structured format for everything that it collects. Not just the financial statements, or even just the 10-Ks and 10-Qs, but every one of the 600 or so forms that public companies and other entities have to submit to the SEC.

This would make the entire picture, all the disclosure that the SEC collects, into open data, searchable and available to everyone. We see these moves by the SEC as part of an overall move across all of government away from documents and toward standardized, searchable data. The Financial Transparency Act would go even farther than what the SEC is trying to do right now, but the actions the agency is currently taking are going in the same direction. It’s very important.

Ilya Vadeiko > I would speculate that the next great expansion of XBRL, and especially iXBRL, in the US should be into MD&A sections of financial reports, corporate actions and insurance. To our knowledge, those are the areas where the demand for structured and timely data is the greatest.

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REPORT: Institutional and individual investors align on both guidance and consensus

2017 is approaching. Investors will start sniffing around for guidance. Should companies offer guidance? The universal answer is “yes” of course, but are your investor’s using your guidance? They are… and at par with analysts’ consensus numbers.

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Giving guidance, whether financial or non-financial, assures your voice is in the investor mosaic – for both institutional investors and individual investors.

 


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.

Questions include:

  • How often do you visit IR websites?
  • Why do you visit IR websites?
  • Do you use Twitter for stock research?
  • Would a CEO video instill trust?
  • Do you use earnings estimates?

The inbound response ratio is 1:3, Wall Street to Main Street. All of the data is unedited, except for any typos within the comments and the exclusion of inappropriate comments.

Click here to request the free Shareholder Confidence 365 Study.

IPOs and Transactions: Nov 21 – 25 / plus 2017 EDGAR filing deadline calendar

There were 27 transactions filed with the SEC last week. (USA holiday week)

Congratulations to all of the corporations and law firms that selected our transactions services last week including Nuo Therapeutics Inc. w/ Hill Ward Henderson, Creative Medical Technology Holdings Inc. w/ Vance, Higley & Associates PC and Regulation A+ registration CapRocq Core REIT Inc. w/  Kaplan Voekler Cunningham & Frank PLC.

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
All for One Media Corp. ALL FOR ONE MEDIA CORP EEQU 10-12G Amusement & recreation services
AltaVista Private Client, LLC STOCK MARKET BAR & GRILL CORP ~ 1-A ~
Carmel, Milazzo & DiChiara LLP PROVISION HOLDING INC PVHO S-1 Household audio & video equipment
Dechert LLP HERCULES CAPITAL INC HTGC N-2 Finance services
Delta Apparel, Inc. DELTA APPAREL INC DLA S-3 Wholesale apparel, piece goods & notions
Dorsey & Whitney LLP TACTILE SYSTEMS TECHNOLOGY INC TCMD S-1 Surgical & medical instruments & apparatus
Faegre Baker Daniels LLP ENDRA INC S-1 Electromedical & electro-therapeutic apparatus
Faegre Baker Daniels LLP AIRGAIN INC AIRG S-1 Radio & television broadcasting & comms equipment
Faegre Baker Daniels LLP TACTILE SYSTEMS TECHNOLOGY INC TCMD S-1 Surgical & medical instruments & apparatus
Foley & Lardner LLP GREAT ELM CAPITAL GROUP INC GEC S-1 ~
Fox Rothschild LLP BIO KEY INTERNATIONAL INC BJO S-1 Computer comms equipment
Goodwin Procter LLP PLUG POWER INC PLUG S-3 Electrical industrial apparatus
Hill Ward Henderson NUO THERAPEUTICS INC 4C7A S-1 Surgical & medical instruments & apparatus
Hughes Hubbard & Reed LLP CENVEO INC CVO S-3 Converted paper & paperboard products
Jenner & Block LLP INTERNAP CORP INAP S-3 Computer programming, data process, etc.
K&L Gates LLP ENDRA INC ~ S-1 Electromedical & electro-therapeutic apparatus
Kaplan Voekler Cunningham & Frank, PLC CAPROCQ CORE REIT INC ~ 1-A ~
Latham & Watkins LLP PRESIDIO INC ~ S-1 ~
Latham & Watkins LLP AMERICAN MIDSTREAM PARTNERS LP AMID S-4 Natural gas transmission
Latham & Watkins LLP AIRGAIN INC AIRG S-1 Radio & television broadcasting & comms equipment
Latham & Watkins LLP BEASLEY BROADCAST GROUP INC BBGI S-3 Radio broadcasting stations
Locke Lord LLP AMERICAN MIDSTREAM PARTNERS LP AMID S-4 Natural gas transmission
McMurdo Law Group, LLC AMERI METRO INC. (FORMERLY YELLOWWOOD) AMGTI S-1 Heavy construction
Nemus Bioscience, Inc. NEMUS BIOSCIENCE INC NMUS S-1 Trucking, except local
O’Neal Law Office HIP CUISINE INC ~ S-1 Retail eating places
Pryor Cashman LLP NATIONAL HOLDINGS CORP NHLD S-1 Security & commodity brokers, dealers, exchanges & services
Shearman & Sterling LLP ROCKWELL COLLINS INC COL S-4 Aircraft parts & auxiliary equipment
Sichenzia Ross Ference Kesner LLP TOWERSTREAM CORP TWER S-3 Communications services
Skadden, Arps, Slate, Meagher & Flom LLP GREAT ELM CAPITAL GROUP INC GEC S-1 ~
Skadden, Arps, Slate, Meagher & Flom LLP ROCKWELL COLLINS INC COL S-4 Aircraft parts & auxiliary equipment
Tucker Ellis LLP UNITED COMMUNITY FINANCIAL CORP UCFC S-4 Savings institutions, not federally chartered
Vance, Higley & Associates, P.C. CREATIVE MEDICAL TECHNOLOGY HOLDINGS INC JLLM S-1 Non-operating establishments
Vinson & Elkins L.L.P. PLAINS ALL AMERICAN PIPELINE LP PAA S-3 Pipelines, except natural gas
Wachtell, Lipton, Rosen & Katz PRESIDIO INC ~ S-1 ~

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: Nov 21 – 25 (USA holiday week)

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 +
AIRGAIN INC S-1 Cowen and Company, LLC William Blair & Company, L.L.C. Northland Securities, Inc. / Wunderlich Securities, Inc.
ENDRA INC S-1 Dougherty & Company LLC ~ ~
PRESIDIO INC S-1 J.P. Morgan Securities LLC Citigroup Global Markets Inc. Barclays Capital Inc. / RBC Capital Markets, LLC
TACTILE SYSTEMS TECHNOLOGY INC S-1 Piper Jaffray & Co. William Blair & Company, L.L.C. ~

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

Have a great week.

VirtualInvestorConferences.com Celebrates 75th Event Encouraging Direct Dialog Between CEOs and Shareholders

Evergreen and live, online conference series premiered in 2010: 2017 event dates announced

New York, NY, November 23, 2016/PRNewswire/ — PR Newswire, Vintage and BetterInvesting today released the 2017 calendar for VirtualInvestorConferences.com, the evergreen online investor conference series that directly connects individual investors, institutional investors, advisors and analysts with CEOs and senior executives at public companies.

Next month’s event, December 1st, is the 75th in the history of the online roadshow portal & virtual trade show.

At each event, VirtualInvestorConferences.com hosts up to 10 public companies in an engaging online environment. The conference series promotes a consistent, generally monthly, schedule as capital market are too dynamic to limit an equity’s real-time shareholder non-deal roadshow communications opportunities to only an annual or quarterly basis.

Fortune 500 companies and emerging growth companies alike have identified VirtualInvestorConferences.com as a key tool within their investor relations mosaic. Aflac, Inc. and three-dimensional bioprinting technology company, Organovo, are both frequent presenters.

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“Individual investors are a meaningful part of our shareholder mix and we are committed to consistent and transparent communications with them.”

“Since their 2010 inaugural event, Aflac has regularly presented directly to Main Street at VirtualInvestorConferences.com. We find their virtual conference platform to be both convenient and cost-effective and we’re pleased to congratulate them on their milestone 75th event.”

~ Daniel Bellware, Investor Relations Manager, Aflac

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“VirtualInvestorConferences.com presentations are a fantastic way to reach a broad and diverse retail investor audience. It’s the leading technology platform and great format.” 

~ Steve Kunszabo, VP, Investor Relations
& Corporate Communications, Organovo

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One of the strengths of VirtualInvestorConferences.com is that its published annual calendar of events allows companies to strategically plan in advance as well as have the flexibility to join a monthly event at the last minute in concert with breaking new material developments at their company.

2017 schedule – to reserve a date, please click here: http://www.virtualinvestorconferences.com/contact-us.html

  • January – No event
  • February 2, 2017
  • March 15, 2017: OTCQX Banks:
  • March 22 & 23, 2017: Deutsche Bank DR Event
  • April 6, 2017
  • May 11, 2017: OTCQX International
  • June 1, 2017
  • June TBD, 2017: Deutsche Bank DR Event
  • July 13, 2017
  • August 3, 2017
  • September 7, 2017
  • October 5, 2017
  • November 2, 2017
  • November TBD, 2017: Deutsche Bank DR Event
  • December 7, 2017

“When we first introduced the online roadshow series, it was, and still is, unique in the industry,” said VirtualInvestorConferences.com co-creator John Viglotti, VP, Investor Relations Products and Services at PR Newswire. “Certainly, PR Newswire has an intrinsic understanding of news flow and news cycles, and giving public companies an easy online path to reach current and prospective investors with updated material news, other than waiting for the quarterly earnings call is, has proven itself for 75 events now,” Viglotti finished.

“Almost 80% of institutional investors watch online slide presentations. It’s the most compelling media format for a non-earnings event,” reports Bradley H. Smith, VirtualInvestorConferences.com co-creator and PR Newswire’s & Vintage’s Director of Marketing. “In October alone, the portal has had over 2,000 individual presentations viewed. We’re thrilled that starting our 7th year with such strong momentum,” said Smith.

For more information: http://www.virtualinvestorconferences.com

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About VirtualInvestorConferences.com

VirtualnvestorConferences.com, created by BetterInvesting (NAIC) and PRNewswire, has been the only monthly virtual investor conference series that provides an interactive forum for presenting companies to meet directly with investors using a graphically-enhanced online platform. Designed to replicate the look and feel of location-based investor conferences, Virtual Investor Conferences combines PR Newswire’s leading-edge online conferencing and investor communications capabilities with BetterInvesting’s extensive retail investor audience network.

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, a Cision company, is the premier global provider of multimedia platforms and distribution that marketers, corporate communicators, sustainability officers, public affairs and investor relations officers leverage to engage 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 — and then distribute and measure results. Combining the world’s largest multi-channel, multi-cultural content distribution and optimization network with comprehensive workflow tools and platforms, PR Newswire powers the stories of organizations around the world. PR Newswire serves tens of thousands of clients from offices in the Americas, Europe, Middle East, Africa and Asia-Pacific regions.

Cision is a leading global media intelligence company, serving the complete workflow of today’s communication professionals.

 

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

bradley.smith@prnewswire.com

XBRL is finally on the right path, say experts

Greater transparency, lower filing costs, reduced risks and better data quality – these long-promised benefits of XBRL are finally becoming a reality. As the XBRL landscape continues its swift evolution, we discussed the latest developments with five experts – as well as with a representative of the SEC.

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Vintage Question > How effective do you think the SEC has been in its implementation of XBRL? Are there specific areas you think they should improve upon?

Campbell Pryde > The SEC implementation has had its ups and downs, at times because of competing priorities that resulted in less focus on the XBRL program, which in turn may have led to issuers spending less time on their XBRL submissions.

In the early days, I think they did a good job of setting the parameters, given the knowledge they had, and that was very much because of former SEC Chairman Christopher Cox, who was a big supporter of it. When Mary Schapiro was head of the Commission, the focus was no longer on data standardization, because of Dodd-Frank and the financial crisis. But now I think we’re in an era again when the SEC is paying a lot of attention to it and we do see a lot more support for it, especially amongst the SEC commissioners. I think that’s good, and you’re seeing more outreach to the market by the SEC, such as with the iXBRL initiative.

Hudson Hollister > I’ll be blunt: Up until this year, the SEC’s adoption of XBRL has been a failure. The agency adopted the XBRL format in 2009 and then phased it in over two years, but until June of this year, the agency was requiring every public company to report all of its finances twice. The SEC requires companies to report once in XBRL and then again as a document, because it never stopped collecting the old-fashioned document version of every financial statement. That dual reporting regime has prevented companies, investors, markets, and the agency itself from realizing the benefits of structured data.

Because companies are reporting twice, they have tended to separate the process they use for preparing the documents and the process they use for preparing the data. Many companies see the data reporting requirements as an additional compliance burden, so they prepare the data separately after the document is complete. This means that errors wind up in the XBRL version that might not be in the document version. This has been compounded by the fact that, except for a single public CFO letter in 2014, the SEC has never enforced the quality of the data version. So you have companies viewing the data version as an added-on compliance burden, and also the SEC not scrutinizing the data or checking it for quality, and companies know this.

For these reasons, the quality was poor for the first five or six years of XBRL reporting. It was so poor that some data intermediaries like Morningstar chose not to use it. XBRL should help investors, markets, and companies, as well as the SEC staff. It should mean better transparency and immediately actionable information for investors. If XBRL data were of good quality, an intermediary could process it almost instantaneously. But we still don’t have that, so the benefits to investors have not been realized.

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Jaret Klekota > Over the years, the SEC has released various observations to help companies with XBRL, including areas that the registrant should focus on in improving their filings. They have also released a number of XBRL FAQs, compliance and disclosure interpretations, as well as XBRL staff guidance in recent years. They even created a specific office through the Division of Economic and Risk Analysis dedicated to XBRL interactive data. We believe they should continue to release this type of guidance to assist the registrants in knowing what areas they should focus on improving. For investors, improved quality of XBRL filings will enable them to really understand and leverage the information more in the future.

Ilya Vadeiko > As I understand it, the SEC was not really using XBRL data internally in the first several years of implementation. We can tell this by the number of data errors and consistency issues that were allowed in XBRL filings. In our standard process of aggregating XBRL reports at FinDynamics, we have established a sophisticated system of monitors, data validations and automated normalizations of XBRL data. This system used to capture a lot more issues in the reports in the first few years of implementation than it does now.

The SEC’s introduction of iXBRL indicates that they understand the positive impact this could have on the quality of reported data, which could not be improved solely by the development of EDGAR Filer Manual rules and checks of technical XBRL syntax and structure. I work closely with the Financial Accounting Standards Board as a member of the Taxonomy Advisory Group and XBRL Dimension Working Group, and I can attest to how much progress has been made in improving XBRL usability over the last two years.

Another step the SEC should take is to allow the XBRL International Financial Reporting Standards taxonomy, which is used by foreign filers, and require the use of XBRL Level 1-2 tagging in the management discussion and analysis (MD&A) sections of reports, which should be of great value and interest with the use of iXBRL.

Pranav Ghai > Full disclosure – the SEC is a customer of ours. We work closely with them. But I will also say that while the adoption of XBRL has been slower than any of us would have liked, we are recently seeing a significant increase in usage by some very sophisticated firms. So I am really encouraged by what I’m seeing. I have quarterly meetings with the Commission, and the questions I’m getting are very sophisticated. They’re using the information and they’re reaching out to us more than every quarter.

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IPOs and Transactions: Nov 14 – 18 / plus 2017 Mutual Funds filing deadline calendar

There were 51 transactions filed with the SEC last week.

Congratulations to all of the corporations and law firms that selected our transactions services last week including Medley LLC w/ Fried, Frank, Harris, Shriver & Jacobson LLP and Winston & Strawn LLP and Digital Donations Technologies Inc. w/ Cassidy & Associates.

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
Baker Botts L.L.P. PENN VIRGINIA CORP PVA S-1 Crude petroleum & natural gas
Barnes & Thornburg LLP AMERICA FIRST MULTIFAMILY INVESTORS LIMITED PARTNERSHIP ATAX S-3 Finance services
Bonner & Associates MEXICO SALES MADE EASY INC ~ S-1 ~
Cahill Gordon & Reindel LLP ARDAGH FINANCE HOLDINGS S.A. ~ F-1 ~
Cassidy & Associates DIGITAL DONATIONS TECHNOLOGIES INC ~ S-1 Blank checks
Cleary Gottlieb Steen & Hamilton LLP ENDURANCE INTERNATIONAL GROUP HOLDINGS INC CTCT;EIGI S-4 Direct mail advertising services / prepackaged software
Cleary Gottlieb Steen & Hamilton LLP ENDURANCE INTERNATIONAL GROUP HOLDINGS INC EIGI S-3 Direct mail advertising services / prepackaged software
Cooley LLP STEADYMED LTD STDY S-3 Pharma preparations
Cravath, Swaine & Moore LLP AT&T INC T S-4 Telephone communications
Davis Polk & Wardwell LLP KINSALE CAPITAL GROUP INC KNSL S-1 Fire, marine & casualty insurance
Debevoise & Plimpton LLP SITEONE LANDSCAPE SUPPLY INC SITE S-1 Landscape counseling & planning
Disclosure Law Group, PC BRIDGELINE DIGITAL INC BLIN S-3 Prepackaged software
DLA Piper LLP MARRIOTT INTERNATIONAL INC MAR S-4 Hotels & motels
Ellenoff Grossman & Schole LLP FRANKLY INC ~ S-1 ~
EMR Technology Solutions, Inc. EMR TECHNOLOGY SOLUTIONS INC ~ 10-12G ~
Fenwick & West LLP IMPINJ INC PI S-1 Electronic components
Fried, Frank, Harris, Shriver & Jacobson LLP MEDLEY LLC MDLX S-1 Investment advice
Gary Steven Findley & Associates CVB FINANCIAL CORP CVBF S-4 State commercial banks
Gibson, Dunn & Crutcher LLP LA JOLLA PHARMACEUTICAL CO LJPC S-3 Biological products
Gibson, Dunn & Crutcher LLP MARRIOTT INTERNATIONAL INC MAR S-4 Hotels & motels
Gibson, Dunn & Crutcher LLP GALLAGHER ARTHUR J & CO AJG S-4 Insurance agents, brokers & service
Goodwin Procter LLP AMPLIFY SNACK BRANDS INC BETR S-3 Food preparations, not elsewhere classified
Goodwin Procter LLP BEYONDSPRING INC ~ F-1 Pharma preparations
Goodwin Procter LLP TURBO TRAVEL HOLDING B.V. ~ F-1 Computer processing & data preparation
Graubard Miller PARKERVISION INC PRKR S-3 Radio & television broadcasting & communications equipment
Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP SYNACOR INC SYNC S-3 Computer processing & data preparation
Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP NATERA INC NTRA S-3 Medical laboratories
Helios Exchange, Inc. HELIOS EXCHANGE INC ~ 1-A ~
Hogan Lovells US LLP URANIUM RESOURCES INC URRE S-3 Metal mining
Incorp Services, Inc. KALMIN CORP ~ S-1 ~
Jones Day TRANSDIGM INC TDG S-4 Fabricated metal products
K&L Gates LLP CHINA GEWANG BIOTECHNOLOGY INC RCHR S-1 Food & kindred products
Katzenell Dimant STEADYMED LTD STDY S-3 Pharma preparations
Kirkland & Ellis LLP ICHOR HOLDINGS LTD ~ S-1 Semiconductors & related devices
Kirkland & Ellis LLP OPTIV INC ~ S-1 Computer integrated systems design
Latham & Watkins LLP ICHOR HOLDINGS LTD ~ S-1 Semiconductors & related devices
Latham & Watkins LLP COTIVITI HOLDINGS INC COTV S-1 Business services
Latham & Watkins LLP TURBO TRAVEL HOLDING B.V. ~ F-1 Computer processing & data preparation
Legion Capital Corporation LEGION CAPITAL CORP ~ 1-A ~
Lowenstein Sandler LLP FRANKLY INC ~ S-1 ~
Manatt, Phelps & Phillips, LLP CVB FINANCIAL CORP CVBF S-4 State commercial banks
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. CALADRIUS BIOSCIENCES INC CLBS S-3 Miscellaneous health & allied services
Morgan, Lewis & Bockius LLP HOSTESS BRANDS INC TWNK S-3 Blank checks
Morgan, Lewis & Bockius LLP ALPHA & OMEGA SEMICONDUCTOR LTD AOSL S-3 Semiconductors & related devices
Paul Hastings LLP CROSSAMERICA PARTNERS LP CAPL S-3 Wholesale – petroleum & petroleum products
Pearlman Law Group LLP SOCIAL REALITY INC SRAX S-3 Advertising agencies
Pearlman Law Group LLP SOCIAL REALITY INC SRAX S-3 Advertising agencies
Pepper Hamilton LLP BOJANGLES’ INC BOJA S-3 Retail eating places
Pierce Atwood LLP IMMUCELL CORP ICCC S-3 In vitro & in vivo diagnostic substances
Porter Hedges LLP PAR PACIFIC HOLDINGS INC PARR S-3 Crude petroleum & natural gas
Porter, Wright, Morris & Arthur LLP FIRST COMMONWEALTH FINANCIAL CORP FCF S-4 National commercial banks
Shearman & Sterling LLP ARDAGH FINANCE HOLDINGS S.A. ~ F-1 ~
Sichenzia Ross Ference Kesner LLP ALZAMEND NEURO INC ~ 1-A Pharma preparations
Simpson Thacher & Bartlett LLP SITEONE LANDSCAPE SUPPLY INC SITE S-1 Landscape counseling & planning
Simpson Thacher & Bartlett LLP OPTIV INC ~ S-1 Computer integrated systems design
Skadden, Arps, Slate, Meagher & Flom LLP KINSALE CAPITAL GROUP INC KNSL S-1 Fire, marine & casualty insurance
Skadden, Arps, Slate, Meagher & Flom LLP BEYONDSPRING INC ~ F-1 Pharma preparations
Skadden, Arps, Slate, Meagher & Flom LLP NATERA INC NTRA S-3 Medical laboratories
Squire Patton Boggs LLP FIRST COMMONWEALTH FINANCIAL CORP FCF S-4 National commercial banks
Stroock & Stroock & Lavan LLP PBF FINANCE CORP ~ S-4 Petroleum refining
Sullivan & Cromwell LLP AT&T INC T S-4 Telephone communications
Sunset Island Group, Inc. SUNSET ISLAND GROUP ~ S-1 ~
SW Innovative Holdings, Inc. SW INNOVATIVE HOLDINGS INC SWHI 1-A Telephone communications
Vincent & Rees CH REAL ESTATE II INC ~ S-1 Real estate
Vinson & Elkins L.L.P. CRYOLIFE INC CRY S-3 Surgical & medical instruments & apparatus
Weil, Gotshal & Manges LLP COTIVITI HOLDINGS INC COTV S-1 Business services
Wiggin and Dana LLP CAS MEDICAL SYSTEMS INC CASM S-3 Surgical & medical instruments & apparatus
Wilson Sonsini Goodrich & Rosati PC IMPINJ INC PI S-1 Electronic components
Windels Marx Lane & Mittendorf, LLP NANO STONE INC ~ 1-A ~
Winston & Strawn LLP MEDLEY LLC MDLX S-1 Investment advice

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


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IPO Underwriters of the Week: Nov 14 – 18

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 +
BEYONDSPRING INC F-1 Citigroup Global Markets Inc. Guggenheim Securities, LLC FBR Capital Markets & Co. / China Renaissance Securities (Hong Kong) Limited / Trout Capital LLC
ARDAGH FINANCE HOLDINGS S.A. F-1 Citigroup Global Markets Inc. ~ ~
ICHOR HOLDINGS LTD S-1 Deutsche Bank Securities Inc. Stifel, Nicolaus & Company, Inc. RBC Capital Markets, LLC / Cowen and Company, LLC / Needham & Company, LLC
MEDLEY LLC S-1 FBR Capital Markets & Co. Incapital LLC Ladenburg Thalmann & Co. Inc. / Compass Point Research & Trading, LLC / William Blair & Company, L.L.C. / JonesTrading Institutional Services LLC / National Securities Corporation / Maxim Group LLC / Boenning & Scattergood, Inc.
SITEONE LANDSCAPE SUPPLY INC S-1 Goldman, Sachs & Co. UBS Securities LLC ~
COTIVITI HOLDINGS INC S-1 Goldman, Sachs & Co. J.P. Morgan Securities LLC ~
TURBO TRAVEL HOLDING B.V. F-1 J.P. Morgan Securities LLC Goldman, Sachs & Co. Morgan Stanley & Co. LLC / Allen & Company LLC / Merrill Lynch, Pierce, Fenner & Smith Inc. / Citigroup Global Markets Inc. / Deutsche Bank Securities Inc. / Cowen and Company, LLC / Guggenheim Securities, LLC
KINSALE CAPITAL GROUP INC S-1 J.P. Morgan Securities LLC William Blair & Company, L.L.C. RBC Capital Markets, LLC / SunTrust Robinson Humphrey, Inc. / Dowling & Partners Securities LLC / Moelis & Company LLC
OPTIV INC S-1 Morgan Stanley & Co. LLC Goldman, Sachs & Co. Barclays Capital Inc. / Citigroup Global Markets Inc. / Blackstone Advisory Partners L.P. / Raymond James & Associates, Inc. / William Blair & Company, L.L.C. / Evercore Group L.L.C. / Guggenheim Securities, LLC / PJT Partners LP
IMPINJ INC S-1 Morgan Stanley & Co. LLC RBC Capital Markets, LLC Pacific Crest Securities / Piper Jaffray & Co. / Needham & Company, LLC / Canaccord Genuity Inc.
FRANKLY INC S-1 Roth Capital Partners, LLC Noble Financial Capital Markets ~
CHINA GEWANG BIOTECHNOLOGY 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. Click here and opt-in to receive this weekly summary via email.

Have a great week.

 

 

SEC closed for Thanksgiving Holiday: Thursday, November 24

In honor of Thanksgiving Day, the SEC is closed on Thursday, November 24, 2016. No files can be received.

Files submitted after 5:30 pm ET, Wednesday, November 23, 2016 will receive a filing date of Friday, November 25, 2016 and will be posted to the public on November 25.

As with other holiday closings, the following file types will receive a Wednesday, November 23, 2016 filing date if filed by 10:00 pm ET on Wednesday:

  • 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 Thursday, November 24, 2016, the SEC will move the due date to the next business day, Friday, November 25, 2016.

Have a great day.

Mitigate filing deadlines risk with easy-to-read 2017 FYE calendar for Mutual Funds

To help keep track of the varying filing deadlines across funds with different fiscal-year-ends, we’re pleased to offer our 2017 Mutual Fund & ETF Filing Calendar.

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CLICK HERE TO ORDER & DOWNLOAD YOUR CALENDAR

Both mailed to you to hang up on your bulletin board and as download, you’ll find this colorful and segmented month-by-moth per fiscal-year-end calendar perfect to remind you of those key filing and mailing dates.

  • Easy to read – separated by fiscal-year-end per page and month
  • Includes individual filing and mailing dates for all 12 FYE dates
  • Includes federal holidays

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(FREE)