| Many dream of it; only a handful succeed. That's the story of the initial public offering. |
| Road blocks abound from all sides. Regulatory authorities can require revisions that take the punch out of the marketing opportunity. Accountants may require that you restate financials. Changes in equity market conditions can make it impossible for the underwriter to sell the deal. Writing the document is a constant tug of war between marketing considerations and risk management concerns. Then there's the question of personal liability for officers and directors. And that's just the tip of the iceberg. |
| It's a long, time-intensive, expensive process, and a major distraction from the business. In the end, you discover that being a public company may not be useful after all. Continuous disclosure, scrutiny by analysts, and problems in maintaining the stock price in the aftermarket are among the factors that can make you wish you hadn't gone public after all. |
| This program examined potential pitfalls and some of the things you can do about them from the vantage points of an accountant, an attorney, an investment banker, and two company officials. |
Panelists:
 |
Bob Fish, Audit Partner, Coopers & Lybrand, LLP |
|
John T. Kelly, Esq., Partner, Willentz, Goldman & Spitzer PC |
|
Dennis Rourke, Managing Director, NationsBanc Montgomery Securities |
|
Kevin Ryan, President, DoubleClick |
|
Moderator Monte E. Wetzler, partner, Brown Raysman Millstein Felder & Steiner LLP |
|
| DATE: |
Wednesday evening, June 27, 1998 |
| PLACE: |
Chase Manhattan Bank, 270 Park Ave. (47th St.), NYC. 11th Floor |
|
|