By Sahir Surmeli
Mintz is hosting a series of sessions for companies considering and planning for IPOs, with a focus on energy and clean technology, life science, technology and consumer companies.
On November 5, 2013, Goldman Sachs Managing Director Brian Bolster, Weber Shandwick Director Kelly Gawlik and Mintz attorney Sahir Surmeli discussed the current IPO market and opportunities for energy and cleantech companies.
Brian focuses on Clean Technology and Renewables/Power at Goldman Sachs. Kelly Gawlik is part of the Corporate Issues Practice at Weber Shandwick. Sa leads the securities team within the Mintz Energy and Clean Technology practice. Tom Burton, Mintz Energy & Clean Technology Practice Group Chair, kicked off the discussion.
Some of the key takeaways from the presentations were:
- Markets are trading at all-time highs and volatility remains below historical averages, and fund flows have become positive in 2013;
- Equity gains across clean technology and renewable sub-sectors have been robust so far this year;
- Companies with strong comparables and visibility into future earnings have benefited in recent IPOs;
- Long range planning for IPOs ideally starts 12-18 months before an IPO, but after a kick-off meeting, a road show can start as early as three to four months out;
- Developing a communications and investor relations strategy for before, during and after the IPO process, is an essential element of success ongoing shareholder value;
- Developing a recognizable and accessible brand in the marketplace is a critical step that will determine a company’s success down the road;
- Recent legal changes (JOBS Act) allowing pre-IPO companies to “test the waters” with investors have been helpful to companies considering an IPO;
- IPO process has benefitted from other recent legal changes permitting confidential filing of draft registration statements and reduced financial and compensation disclosure for emerging growth companies.
Mintz is an industry leader in counseling tech, consumer, life science and energy/cleantech companies that are considering IPOs. You can keep up with all of the latest energy technology news by following Mintz Energy & Clean Technology Matters blog here.