Sorry, Just One More Shameless Self-Promotion 2

I just started writing a new series on Slate.com’s small business site. The series is entitled “Are You an Entrepreneur” and the first installment can be found at http://bizbox.slate.com/blog/2009/05/are_you_an_entrepreneur.php. Take a look! Also in there is my other just completed series entitled, “The Entrepreneur’s Lament.”

Your Humble Blogger Expands Direction….

I am very pleased to announce that my existing law firm is changing its name and expanding its capabilities as a result of a separation with several partners who are terrific but whose practice representing investors in public companies created too many potential conflicts with my practice of taking companies public and representing them thereafter.  We ...

PIPE Funds Set Up Trade Group 4

The Wall Street Journal reported earlier this week that a group of PIPE hedge funds, led by NIR Group’s Corey Ribotsky, have established the long-named Direct Funding Preservation Alliance or DFPA to act as an advocate for their industry. PIPEs have mostly been maligned by the press, and mostly undeservingly. Many great deals have been ...

RM Business Down in April, But…. 1

The Reverse Merger Report has delivered more bad news to the industry. Only eight companies completed reverse mergers in April, half of the number from a year ago. China also seems to have slowed, as the report indicates that this is the first month since 2005 that no Chinese company completed a reverse merger. And ...

Tip of the Week: Don't Forget Self-Filings, Regulation A and Other IPO Alternatives

With all the hullabaloo about the Rule 144 changes last year which made shell mergers a little less attractive, one should not lose sight of the fact that a reverse merger is not the only alternative to traditional IPOs. More and more companies, as we have written here, are turning to self-filings, voluntarily becoming an ...

How Does an IPO Rebound Affect IPO Alternatives?

There is more and more talk that the IPO market is beginning to wake up. We have had 7 out of the last 9 weeks positive in the stock market. Underwriters’ pockets are beginning to lighten. In the past 60 days Morgan Stanley took two companies public, and Credit Suisse did as well, including Morgan’s ...

Non-Shell Reverse Mergers Next??

What with the SEC having made it a little tougher to be a former shell in the times after the Rule 144 amendments last year, more and more of my clients are turning to self-filings as a way to avoid the restrictions that apply to shells and former shells. But self-filings take time and must ...

Shell Prices…Could it Be? 20

Some of the shells selling for very low prices include those with a history – the so-called “legacy” shells that had a real, serious operating business that was either sold, went out of business or was transferred out of the entity for whatever reason. These are different from the “footnote 32/172″ shells that were in ...

Tip of the Week: Get a New Attitude About Building Market Support

After a traditional IPO, the syndicate of underwriters works hard to support the stock by encouraging their customers to buy and sell into it, hopefully bringing the price up. That is often successful in the days following the launch of the IPO, though even then not always. After that initial burst, though, the stock may ...

SEC Veteran Returns to Run Corporation Finance

Meredith Cross, an SEC staffer through the 1990s, has been selected by Chairman Mary Schapiro to return and run the all-important Division of Corporation Finance. “Corp Fin,” as it is known, oversees every public company’s disclosure. It took a little longer than expected for this spot to be filled. Ms. Cross has a strong background, ...