Once your company has convinced the managing underwriters for the offering and wants to begin the IPO process in earnest, an organizational meeting with management, the underwriters, counsel and possibly the auditors will be scheduled. The purpose of this organizational meeting is to discuss the offering process and economics, the proposed offering schedule, allocation of … Read more
Marc Deschenaux is the founder and managing partner of Deschenaux & Partners LLP. Throughout an illustrious career, he has been involved in 169 IPO’s and more than 240 private offerings.
The long-awaited debuts of mega unicorns Uber and Lyft were mega busts, capped off by WeWork’s kamikaze IPO attempt in September. But beyond these headline-grabbing disappointments, the IPO market had a mostly good year. Returns averaged 20%, with 159 IPOs raising $46 billion in proceeds. Biotechs remained the single most active sector, followed closely by … Read more
SHARES OF STOCK ISSUES I. GENERAL RULES AND CLASSIC FINANCING METHODS An entrepreneur or a company is looking to raise capital to undertake a project. When Greenberg, Hornblower, Deschenaux & Partners helps to incorporate, restructure, or protect a company, it transforms it into a “Reporting Issuer”, “Issuing Company” or “Issuer”, that is to say, a … Read more
IPO Allotment is a process where the “registrar to the offer” with the help of a lottery system finalize the process of allocating the IPO shares to the individual who have applied for IPO subscription. It a simple process of lottery where the owners of the shares are decided. IPO allotment process takes place within … Read more
A pass-through security is backed by one or more income generating assets. A servicing intermediary collects the monthly payments from the issuer/s and, after deducting a fee, remits or passes them through
The term “Liquidity” may seem straightforward at a glance, often mistakenly equated to the term cash in popular understanding. However, within the financial realm, its meaning takes on greater complexity. It can be viewed as a concept shrouded in ambiguity due to its polysemic nature, given that it applies differently to both a physical or … Read more
A share of stock in a company may have a par value or no-par value. These categories are both pretty much a historical oddity and have no relevance to the stock’s price in the market. The par value, or face value, is the stated value per share. This price was printed on paper stock certificates … Read more
In almost all jurisdictions, a work made for hire (work for hire or WFH) is a work created by an employee or a subcontractor as part of their job, or some limited types of works where all parties agree in writing to the WFH designation. In the United States, work for hire is a statutorily … Read more
As discussed in my previous article “Is your company ready for an I.P.O. Initial Public Offering ?”, the main barriers preventing an IPO to happen for a company which is ready, willing and able to pursue it are the following: The preparation cost of an IPO is prohibitive. There is no guarantee that the IPO … Read more
