IPO Preparations

I’m looking for reference material on the steps and timeframe for an initial public offering, to go from a private company to a public company.

(Anonymous)

Response:

Consider the following resources:

1. The Initial Public Offering – Guidebook for Executives and Boards of Directors by Bowne
2. Nasdaq also has a good timeline on the IPO process in its published marketing materials.

Steven Horan (shoran@arsenaldigital.com )

Response:

For the IPO question, I recommend seminars from the SEC Institute.

Meredith Green (MGreen@airbiquity.com ) 

Response:

NASDAQ just ran a day-long “IPO Boot Camp”. To find out about future dates for the boot camp, you can contact Mike Emen, who is senior vice president of listing qualifications at NASDAQ. Mike also ran that conference session on an “IPO Checklist”, which you could also ask for. This conference would apply to listing on the New York Stock Exchange, and so on.  I do not have Mike’s direct-contact information, but NASDAQ’s general number is 212-401-8700.

Ray Weisner (RWeisner@valuationresearch.com )

Response:

Most of the Big 4 accounting firms has something on this. Bowne, the financial printer and one of a few that you will probably consider to print your S-1 and other documents, has a good IPO handbook. And then, of course, the investment bankers you choose can help you. I believe many law firms have material, too.

At Protiviti, we also provide some IPO readiness help for companies, especially in the areas of infrastructure, people, IT and controls, along with prepping for SOX and evaluating the need for an internal audit function at some time.  We also provide some GAAP advice. If you list on the NYSE, an internal audit function is required upon going public.

On client satisfaction, there is a good company out here in San Francisco to which I can introduce you. It’s called Marketmetrix.

See http://www.marketmetrix.com/

Ask for Lenny Nash and use my name (Bob Hirth). I am glad to discuss either of these further if you need more information.

Robert Hirth (Robert.Hirth@protiviti.com )

Response:

Regarding IPO preparations, two good sources for checklists are CPA firms and the financial printers (Bowne, Donnelly, Merrill (not Merrill Lynch), et al).  In addition, your securities counsel should have information and checklists related to IPO prep. Good luck.

Tom Fitzgerald (tcifitz@aol.com )

Response:

The best resources are your accounting firm and your outside counsel. All of the accounting firms publish handbooks on the IPO process, as do many of the larger law firms. 

Check out Fenwick & West's resources on the Web or Perkins Coie (co-published with Bowne; www.bowne.com/dealmakers/ipo.asp )

Don Schlosser (donschlossser1@comcast.net )