Page 109 - Initial Public Offering - An Introduction to IPO on Wall Street

Financial I: Earnings II: Global Real Estate Closed-end Business
Standards Test Rule Market Investment Management Development
102.01C(I) Capitalizatio Trusts Rule Investment Companies
n Test Rule 102.05 Companies Rule 102.04B
102.01C(II) Rule 102.04A

Adjusted Aggregate for --- --- --- ---
Pre-tax last three
Income fiscal years
>= $10
mm1,2; Each
of the two
most recent
fiscal years
>=$2 mm;
Each of the
prior

Global --- $200 mm --- ----- $75 mm
Market
Capitalizatio
n

Shareholder --- --- $60 mm ---- ----
s’ Equity
Market See chart See chart See chart below $60 $60 mm
Value of below below
Publicly

Held Shares

Organizations must satisfy all of the following standards for distribution:

Distribution IPOs, Spin- Transfer or Quotation All other listings
Standards, Rule offs, Carve-outs
102.01A-B

Shareholders 400 round lot 400 round 2200 500 Shareholders7 400
lot total total round lot 400
round lot 2,200
total 500 total 400
round lot
Publicly Held 1.1 mm 1.1 mm 1.1 mm 1.1 mm 1.1 mm
Shares
Market Value of $40 mm $100 mm $100 $100 $100 mm
Publicly Held mm mm
Shares
Minimum Share $4.00 $4.00 $4.00 $4.00 $4.00
Price

Page 109