Submitted by Timothy J. Keating, Keating Investments, LLC
Public companies can enjoy many benefits, particularly significantly higher valuations and superior access to capital, compared to privately owned businesses. These benefits are conditional on the existence of a “liquid” market for the company’s shares. Illiquidity can prevent the stock of a smaller public issuer from achieving the higher valuations enjoyed by its peers, thereby negating one of the primary benefits of being public. The goal of any publicly traded company, therefore, should be to have its stock become widely held, actively traded, fully valued, and covered by at least one research analyst. But what exactly do these things mean? This white paper creates a framework for objectively defining and quantifying these terms and outlines a path to the holy grail of liquidity.
Alternative Public Market Strategies for High Growth Companies
Submitted by Margie L. Blackwell, Keating Investments, LLC
Recently, Faegre & Benson LLP, one of the 100 largest law firms headquartered in the U.S., and Baker Tilly Virchow Krause, a full-service accounting and advisory firm, sponsored an informative seminar and panel discussion regarding alternative going public strategies. Faegre speakers included Michael Coddington, Jason Day, David Miller, Donald Stewart and Jonathan Zimmerman. Also included in the panel discussion was Rick Schweiger, Chief Operating Officer at Keating Investments; Octavio Cabral, Partner at Collins Barrow; Janis Koyanagi, Director of Business Development at the Toronto Stock Exchange; Rick Hartfiel, Head of Investment Banking at Craig-Hallum Capital Group; and Mike McKee, Partner at Baker Tilly.
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