Virgin shells
As We Start a New School Year…RM Wish List
By David Feldman at 3 September, 2009, 5:55 am
My children are ready. My big one already back in college. My little one getting ready for the big jump to second grade. There is a chill in the air here in NY in the evenings. Yep, it’s a new school year. So I thought I’d use this occasion to provide for my hopes for [...]
Read More >>Cougar Biotech – Wow!
By David Feldman at 8 August, 2009, 8:35 am
In a great victory for the reverse merger world and Form 10 shells, as reported in the Reverse Merger Report, Cougar Biotechnology was sold recently to Johnson & Johnson through a tender offer for $1 billion! OK, maybe that doesn’t seem like much compared to Obama’s stimulus package, but it is! Cougar was backed by [...]
Read More >>Get Ready for the New Edition of the Book
By David Feldman at 16 July, 2009, 7:03 am
Everything is a go for the 2nd edition of Reverse Mergers, the book I originally wrote in 2006, which was published by Bloomberg Press and which was translated into Chinese about a year later (and which inspired this blog which started in late 2006). I have just about finalized the edits and the plan is [...]
Read More >>Form 10s Still Popular
By David Feldman at 9 July, 2009, 6:52 am
Despite an article in the recent Reverse Merger Report suggesting there may be no value to Form 10 shells other than to crooks, legitimate players continue to create them for transactions that they develop. Like all things the pace of creating new shells was slowed meaningfully in the last quarter of 2008 and first quarter [...]
Read More >>Rare Misstep by Reverse Merger Report
By David Feldman at 22 June, 2009, 9:51 pm
I am preparing a formal response to the lead article in the newest issue of the Reverse Merger Report, and my hope is they will publish it in the next issue. The article’s headline purports to suggest that Form 10 shells are suffering. The lead quote, from a “reverse merger specialist” who did not want [...]
Read More >>More Good Stuff from Conference
By David Feldman at 18 June, 2009, 6:44 am
I very much enjoyed the panel I moderated at last week’s Reverse Merger Conference which sought to answer the question, “Why consider a reverse merger in this environment?” The panel reiterated the value of going public in any market if a company sees benefits in doing so and can bear the costs. And in a [...]
Read More >>Great Conference!
By David Feldman at 17 June, 2009, 10:07 am
Sorry I’m a bit delayed getting on here to write about the Reverse Merger Conference here in Vegas last week. I stayed a few days extra with the family to enjoy Kid Vegas for a bit. First, I thought the initial presentation from DealFlow Media on some key stats was very interesting indeed. First the [...]
Read More >>Shell Prices…Could it Be?
By David Feldman at 11 May, 2009, 6:01 am
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 [...]
Read More >>FINRA Continues Crackdown on Footnote 32/172 Shells
By David Feldman at 17 April, 2009, 10:46 am
I am hearing more and more anecdotal evidence that the Financial Industry Regulatory Authority (FINRA) is doing more to challenge the real intentions of tiny startup companies seeking to go public. In too many cases, these “companies” will be marketed as trading shells immediately following the completion of going public. As I have written in [...]
Read More >>Headed to ABA Conference to Speak on Reverse Mergers
By David Feldman at 15 April, 2009, 5:51 am
For the last three years I have been honored to be a panelist at the annual American Bar Association conference. I’m headed to Vancouver tomorrow for the lastest one, entitled “Hot Securities Law Issues for Small Business.” My friend Lee Liebolt, formerly of Brown & Wood, is our fabulous moderator. I’m covering six basic trends in [...]
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