Some IPO Case Studies At-A-Glance
Company Snapshot: $600 million technology licensing company.
Needing to launch their IPO on an extremely tight schedule and with virtually no staff, this client engaged Blythe Global Advisors to help with pre-filing activities. Working closely with the CFO and controller, Blythe Global laid out the readiness process with a detailed timeline; provided documentation, analysis and diligence services in preparation for the audit; and supplied interim accounting staff to handle the increased day-to-day requirements. The company is now on track to negotiate the realities of becoming – and being – a public company.
Company Snapshot: $300 million global equipment leasing company owned by a private equity firm.
This company is ready for an imminent public offering – having enjoyed a hyper-growth phase during which it implemented enterprise-wide accounting systems and hired staff in anticipation of the requirements that come with public status. The company engaged Blythe Global Advisors to help with detailing its subordinated debt – the result of its sale to the private equity firm. Blythe Global filled a major financial reporting role by helping draft portions of the S-4 registration statement including pro forma information supporting prior transactions. Blythe Global also provided consulting services to help optimize the company’s investments in IT and staff to meet its post-IPO obligations.
Company Snapshot: $250 million national medical services company owned by a private equity firm.
This engagement involves a roll-up IPO. With a plan to go public whenever the market becomes available to them, this company has been doing a lot of acquisitions. Blythe Global Advisors was engaged to evaluate the accounting soundness of the acquisitions’ past financial reporting. The client now understands the full picture of their acquisitions’ audit readiness and what further work needs to be done for compliant SEC filings that minimize comeback questions and rework.
Company Snapshot: $40 million semiconductor company owned by a venture capital firm.
This company needs to understand its options – being a candidate for both IPO and acquisition. Blythe Global helped the executive team appreciate the ramifications of each option – including timelines, processes, staff requirements, costs (and how to control them), regulatory obligations and the implications of recent legislation such as the 2012 JOBS Act which allows for confidential SEC filing (and possibly making an IPO both more interesting and less risky). The executive team now understands the opportunities and risks involved in each option. They also have the information to make the kinds of investments that will increase their value and brand equity – regardless of which option they choose.
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