Why Choose the Dual Track Process?
Navigating the Dual Track M&A/IPO– Part One
Form 10s as Alternatives to Traditional IPOs – Interview with Bill Hicks, Member, Mintz Levin
Jaffe Sees 'A Lot' of IPOs in 2013 'Pipeline'
The Jobs Act: Confidential Filing
..Increase in penalties for non-compliance
-On 12 March 2014 substantial amendments to the Privacy Act come into effect. The new laws are backed by a significant increase in penalties for...more
On November 27, 2013, the Securities and Exchange Commission (“SEC”) approved a change (the “Amendment”) to FINRA’s IPO allocation rule 5131 (the “Rule”).The Amendment allows a fund-of-funds to rely on a...more
Real Estate Investment Trusts (“REITs”) are endlessly inventive. They were first developed in the 1960s as a means for ordinary retail investors to hold interests in real estate. The REIT market has waxed and waned over the...more
Understanding what and when decisions need to be made can help companies ensure a smooth MLP IPO process.
The number of master limited partnerships (MLPs) has grown significantly over the past five years, increasing...more
When China's e-commerce giant Alibaba -- with a valuation that may make it the world's third-largest Internet company behind only Google and Amazon -- made the decision to go public, listing in Hong Kong was its natural first...more
On November 7, 2013, the Toronto Stock Exchange (“TSX”) issued a Staff Notice to Applicants, Listed Issuers, Securities Lawyers and Participating Organizations (“Staff Notice”) that provides guidance for companies considering...more
Amid the optimism surrounding Twitter’s blockbuster IPO last week came a disappointing reflection on America’s progress (or lack thereof) in improving boardroom diversity....more
Former Vice Chairman of NASDAQ, David Weild IV, guest blogs about the importance of tick sizes. David is Head of Capital Markets at Grant Thornton and Founder, Chairman and CEO of Capital Markets Advisory Partners....more
We analyzed the terms of venture financings for 128 companies headquartered in Silicon Valley that reported raising money in the third quarter of 2013.
Overview of Fenwick & West Results -
Valuation results in...more
For all the skeptics who think crowdfunding is a fringe idea, today I attended an event at the New York Stock Exchange about crowdfunding – yes, you read correctly, THE NYSE AND CROWDFUNDING, together. It may seem...more
In This Issue:
Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings.
Excerpt from Leading the Past Week -
Last week ended with a stronger than expected jobs report at plus...more
Chicago-based partner Cathy Birkeland explains why companies might choose the dual track Mergers and Acquisition (private confidential auction process) and Initial Public Offering process over single track.
A pair of investment firms recently filed suit against Twitter in the Southern District of New York, alleging that Twitter had fraudulently refused to allow them to sell its private stock in advance of its much-anticipated...more
Barring any unforeseen setbacks, Wall Street is aflutter as Thursday marks the latest in social media IPOs – Twitter…and we all remember how well Facebook’s IPO went....more
The Financial Industry Regulatory Authority issued an investor alert regarding closed-end funds to explain what investors should know before investing. Like other mutual funds, closed-end funds are professionally managed...more
The emerging growth Company -
The JOBS Act created a new class of issuer: the emerging growth company (EGC). An EGC is defined as an issuer with total annual gross revenue of less than $1 billion during the most recent...more
Alibaba Group, the holding company for a group of People’s Republic of China-based Internet e-commerce companies with sales that exceed those of eBay and Amazon combined, has announced plans to make an initial public offering...more
You are working on the IPO of Genco, a diversified agribusiness with exciting new technology set to revolutionize the production of olives. Members of the Board of Directors like the stock (and the olive oil), and want to...more
We have written a fair bit about business development companies and the important role that they serve as alternative capital providers. During the financial crisis and in the immediate aftermath of the financial crisis,...more
Chicago-based partner Cathy Birkeland explains the dual track Mergers and Acquisition (private confidential auction process) and Initial Public Offering process.
- Filing a registration statement
- Finding a buyer while...more
On October 24, 2013, the House Subcommittee on Capital Markets and GSEs will hold a hearing on “Legislative Proposals to Reduce Barriers to Capital Formation.” The hearing was originally scheduled for earlier in the month,...more
In this issue:
- ASIAN DEVELOPMENTS
- HKEx publishes Amended Listing Rules to Complement the New IPO Sponsor Regime
- US DEVELOPMENTS
- SEC Developments
- Noteworthy US Securities Law...more
Congressman Garrett recently renewed discussions regarding additional individual legislative initiatives or other proposals relating to promoting capital formation that might well be grouped together into a single “JOBS Act...more
Despite the government shutdown, the Supreme Court is in for the 2013-2014 session. There are a couple of privacy cases on the agenda.
U.S. v. Wurie and Riley v. California -
At issue: Separate appeals over...more
The IPO market in the United States is continuing at its fastest pace since 2000. The year 2000 (over 350 IPOs) was the last year of a 10 year boom in US IPOs that reached its peak in 1996 (over 650 IPOs). Since 2000,...more