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Author: David N. Feldman
Publisher: John Wiley & Sons
ISBN: 0470883480
Category : Business & Economics
Languages : en
Pages : 305
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Book Description
In good markets or bad, reverse mergers play a key role for companies that want to avoid the IPO route for going public. Since the successful first edition of Reverse Mergers was published in 2006, the economic and regulatory landscape has changed. Executives, owners, lawyers, accountants, professional investors, regulators, and others need to know what those changes mean for reverse mergers. Reverse-merger expert David Feldman gives an overview of the most important changes since the previous edition was published: new SEC regulations, the changing nature of SPACs (Special-Purpose Acquisition Company), and the emergence of new instruments called WRASPs (WestPark Alternative Senior Exchange Process). The book includes a new chapter on China, and the “Experts Speak” chapter features all new interviewees. David Feldman is one of the country’s leading experts on reverse mergers, self-filings, and other alternatives to IPOs. His firm has guided hundreds of companies on going public, advising them on structure and mechanics, financing, due diligence, regulatory issues, and more.
Author: David N. Feldman
Publisher: John Wiley & Sons
ISBN: 0470883480
Category : Business & Economics
Languages : en
Pages : 305
Get Book Here
Book Description
In good markets or bad, reverse mergers play a key role for companies that want to avoid the IPO route for going public. Since the successful first edition of Reverse Mergers was published in 2006, the economic and regulatory landscape has changed. Executives, owners, lawyers, accountants, professional investors, regulators, and others need to know what those changes mean for reverse mergers. Reverse-merger expert David Feldman gives an overview of the most important changes since the previous edition was published: new SEC regulations, the changing nature of SPACs (Special-Purpose Acquisition Company), and the emergence of new instruments called WRASPs (WestPark Alternative Senior Exchange Process). The book includes a new chapter on China, and the “Experts Speak” chapter features all new interviewees. David Feldman is one of the country’s leading experts on reverse mergers, self-filings, and other alternatives to IPOs. His firm has guided hundreds of companies on going public, advising them on structure and mechanics, financing, due diligence, regulatory issues, and more.
Author: David N. Feldman
Publisher: Bloomberg Press
ISBN: 9781576602553
Category : Business & Economics
Languages : en
Pages : 290
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Book Description
Written for CEOs, CFOs, and the investment bankers, lawyers, and auditors who advise them, this is the first book to explain how reverse mergers work, from the business and legal points of view.
Author:
Publisher: Eagle Point Publishing
ISBN: 1450726887
Category :
Languages : en
Pages : 174
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Book Description
Author: Frederick Amon Adjei
Publisher:
ISBN: 9781109972061
Category :
Languages : en
Pages : 87
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Book Description
An investigation of the effects of various features proposed as indicators of firm survival following reverse mergers is conducted using the accelerated failure time (AFT) model. The results imply that large, high performance, and low risk private firms that engage in reverse mergers will have longer survival time in the aftermarket. The use of a financial advisor as well as venture capital backing lengthens survival time. Additionally, the most probable delisting time of an average reverse merged firm is in the 24th month with a probability of delisting of 5.69 percent. For NASDAQ reverse merged firms, the maximum probability of delisting is 5.75 percent in the 23rd month and for NYSE/AMEX reverse merged firms; the maximum delisting probability is 5.37 percent in the 27th month.
Author: Robert Comment
Publisher: Createspace Independent Publishing Platform
ISBN: 9781453779002
Category : Going public (Securities)
Languages : en
Pages : 0
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Book Description
This book describes a method that small businesses use regularly to go public in the US. Here, a private company merges with a public shell company and the private owners end up with the lion's share of the post-merger shares. The book cites over 300 real-world examples of both successes and failures. It includes 30 tables and charts with data on typical deal terms, with breakdowns by size and type of private company.
Author: William K. Sjostrom
Publisher:
ISBN:
Category :
Languages : en
Pages : 17
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Book Description
The Article examines the reverse merger method of going public. It describes the principal features of reverse mergers, including deal structure and legal compliance. Although reverse mergers are routinely pitched as cheaper and quicker than traditional IPOs, the Article argues that such pitches are misleading and, for many companies, irrelevant.
Author: Igor Semenenko
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
This paper examines timing of reverse mergers (takeovers) and behaviour of managers of firms that go public in reverse mergers. Results suggest that small private firms go public through mergers with financially distressed firms when market conditions are unfavourable, whereas reverse takeovers in which participating public company is a going concern are procyclical. Managers of private firms that go public through a reverse takeover mechanism - both small and large - sell overvalued equity upon merger completion. Raising capital through equity issuance and use of equity to redeem debt is critical for survival of small firms. These findings imply that managers of firms that go public through reverse mergers behave strategically: they time the market when they merge with publicly traded counterparts and sell overvalued capital to investors.
Author: Thomas Kwan
Publisher:
ISBN: 9783656748311
Category :
Languages : en
Pages : 92
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Book Description
Master's Thesis from the year 2014 in the subject Business economics - Business Management, Corporate Governance, grade: 15/20, Tongji University (ESCP Europe; Tongji University), language: English, abstract: Chinese Reverse Mergers are companies operating in China who listed on the US financial markets through a "backdoor" mechanism called reverse merger. The reverse merger process for going public consists in reverse-merging with a shell company in order to be listed on a stock market without going through the traditional IPO process. This study will focus on the impact of corporate governance structure on the financial performance of CRMs. Through different external factors of governance (existence of a corporate governance committee, limitations on CEO removal, reputation of the statutory auditor, ownership structure), we want to observe whether the existence of corporate governance mechanisms have a positive impact on financial performance measured by Stock Returns.
Author: Greg N. Gregoriou
Publisher: Elsevier
ISBN: 008054732X
Category : Business & Economics
Languages : en
Pages : 321
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Book Description
It is now a well-know fact that mergers and acquisitions activity comes in waves. The most recent wave, the 5th takeover wave of the 1990s, was characterized by an unprecedented number of corporate restructurings in terms of mergers and acquisitions (M&As), public-to-private transactions, spin-offs and divestitures, and leveraged recapitalizations. Following the collapse of the stock market in March 2000, M&A activity slumped dramatically, but this pause ended in the second half of 2004 when takeover deals occurred again quite frequently. Indeed, some observers wonder whether the 6th takeover wave has started. The takeover wave in the 1990s was particularly remarkable in terms of size and geographical dispersion. For the first time, Continental European firms were as eager to participate as their US and UK counterparts, and M&A activity in Europe hit levels similar to those experienced in the US. Due to its financial impact and the unprecedented activity in Continental Europe, the 5th takeover wave of the 1990s and recent takeover activity (in biotech, utilities, pharmaceuticals) have triggered a great deal of interesting academic research. This volume brings together a selection of insightful papers. An impressive group of international authors address the following themes: takeover regulation; the cyclical pattern of the M&A markets and probable causes and effects; methods to determine the performance of success of M&A actions; cross border deals; means of payment and its effects; studies of hostile bids; high leverage takeovers and delistings. *A selection of the best and latest quantitative research on M&A activity worldwide*Impressive collection of international authors*Provides important insights and implications for practitioners
Author: Patrick A. Gaughan
Publisher: John Wiley & Sons
ISBN: 0470881216
Category : Business & Economics
Languages : en
Pages : 674
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Book Description
Modern restructuring techniques for a global business landscape Mergers, Acquisitions, and Corporate Restructurings, Fifth Edition carefully analyzes the strategies and motives that inspire M&As, the laws and rules that govern the field, as well as the offensive and defensive techniques of hostile acquisitions. Incorporates updated research, graphs, and case studies on the private equity market, ethics, legal frameworks, and corporate governance Expanded and updated chapters on corporate governance, joint ventures and strategic alliances and valuation Expanded global treatment of the field of M&A Shows business managers and financial executives how corporate restructuring can be used successfully in any company Looks at the most effective offensive and defensive tactics in hostile bids Reviews the impact on shareholder wealth on a variety of takeover actions Packed with the most up-to-date research, graphs, and case studies, Mergers, Acquisitions, and Corporate Restructurings, Fifth Edition provides a fresh perspective on M&As in today's global business landscape.
