Topic
IPO
617 published works
The CLS Blue Sky Blog
How Common Are Negative First-Day IPO Returns?
By Jacqueline Rossovski, Brian M. Lucey, Pia Helbing
Investors generally expect companies to make a successful and profitable debut on the stock market with their initial public offering (IPO). However, some stock market launches fall short: The price…
Free Writings + Perspectives
The Jobs Act Did Not Raise IPO Underpricing
By Nicole Veru
In their study and accompanying paper, “The Jobs Act Did Not Raise IPO Underpricing” Omri Even-Tov, Panos N. Patatoukas and Young S. Yoon, review the effects of the JOBS Act…
The D&O Diary
Further SPAC-Related Securities Litigation Filings Likely in the Months Ahead?
According to a new report about SPACs and SPAC-related securities litigation, even though the market for SPAC IPOs may have cooled in recent months, SPAC-related litigation has “yet to heat…
The CLS Blue Sky Blog
Why Do Companies Going Public Choose Controversial Governance Structures, and Why Do Investors Let Them?
By Laura Field, Michelle Lowry
Over the past three decades, there has been increasing concern about how corporate governance structures such as classified boards and dual class stock entrench managers, reduce director effectiveness, and reduce…
Private Client
SEBI Directive on Promoter Group: Another spanner in the works?
By Yash J. Ashar, Rohit Tiwari
In April 2022, the Securities and Exchange Board of India (SEBI) issued a directive (SEBI Directive) to the Association of Investment Bankers of India (AIBI) and some of its members…
The CLS Blue Sky Blog
Do IPOs of Companies with an Innovative “Up-C” Structure Harm Public Shareholders?
By Mary Brooke Billings, Kevin Hsueh, Melissa F. Lewis-Western, Gladriel Shobe
The umbrella partnership corporation (“Up-C”) IPO structure allows an entity taxed as a partnership to go public by creating a shell corporation that sits above, and whose sole asset is…
The CLS Blue Sky Blog
Too Much Information? Increasing Firms’ Information Advantages in the IPO Process
Traditionally, high-growth private firms in the United States have used the public equity markets as their primary source of external financing to fund innovation and expansion. For this reason, well-functioning…
Dewey B Strategic
Wolters Kluwer Bulks Up IPO Vital Signs With Analytics, Visualizations and SPAC Insights
By Jean O'Grady
Wolters Kluwer Legal & Regulatory U.S. has launched additional analytics and visualization in IPO Vital Signs on RBsource Filings. The new features offer interactive tables and graphics for the visualization…
Free Writings + Perspectives
A Sea Change: The SEC’s Proposed Rules Applicable to SPACs
April 27, 2022 Webinar Register here. On March 30, 2022, the US Securities and Exchange Commission (“SEC”) proposed new rules and amendments to existing rules and forms (the “Proposed Rules”)…
The CLS Blue Sky Blog
SEC Chair Gensler on SPACs, Shell Companies, and Projections Proposal
By Gary Gensler
Today [March 30], the Commission is considering a proposal to strengthen investor protections in special purpose acquisition companies (SPACs). I am pleased to support this proposal because, if adopted, it…