For many years, most successful companies followed a relatively predictable capital-raising path. A lot has changed. The companies that tend to pursue IPOs in recent years are more mature, better capitalized, and often seek to pursue IPOs for different reasons than did their predecessors. In our updated Short Field Guide to IPOs, we detail the path to an IPO, discuss some of the important steps along the way and highlight some of the detours or forks in the road.
In a year of significant volatility, it is not surprising that there was increased reliance on PIPE (private investment in public equity) transactions. Traditionally, PIPE transactions have provided a useful capital-raising alternative when the public markets are inhospitable. During this past year, energy companies relied on PIPE transactions in order to recapitalize their companies and many of these transactions resulted in change of control. We summarize the PIPE activity for 2016 in our infographic.
We can help you keep your head above water.
Sometimes the water is deep and can get choppy. You may find that the 11th edition of our Capital Markets and Securities FAQs can help you get to firm ground.
The FAQs (or Frequently Asked Questions), written and published by MoFo lawyers, provide plain English explanations of the most popular types of financing or capital formation transactions, as well as discussions of securities law issues.
To request a copy of the new FAQ books for you or for your colleagues, e-mail email@example.com.
As privately held companies choose to remain private longer and defer their initial public offerings (IPOs), these companies are increasingly reliant on raising capital in successive private placements. For companies in the life sciences sector, for instance, a late-stage private (or mezzanine) placement made to known and well-regarded life science investors may serve to validate the company’s technology. We have compiled data on late-stage private placements in the life sciences sector.
Read our Life Sciences Sector Survey of Late-Stage Private Placements for more information.
Last week, the Sustainability Accounting Standards Board published its SASB Implementation Guide for Companies. The SASB Implementation Guide is a reference document for issuers who are in the process of integrating SASB standards into their existing 10-K or 20-F disclosure processes. The Guide is intended to help companies achieve three objectives: 1) identify the industry-specific sustainability topics most likely to be material to an investor; 2) understand the current state of disclosure and performance on those topics, and 3) enhance existing reporting processes to more effectively disclose material information on sustainability topics.
To download the guide, click here: http://bit.ly/1MRTcMZ