Guiding Management Through the IPO Process
The CEO of a private healthcare IT company with no prior public company experience engaged ICR Westwicke to guide the management team through the IPO process in an effort to maximize the outcome and avoid common pitfalls.
ICR Westwicke’s Role
- Created management’s presentation for the organizational meeting
- Drafted the outline and worked with the investment banks to create the business section of the S-1 document
- Prepared material for two analyst days to get analysts up to speed on the Company’s story
- Prepared detailed Q&A document of potential analyst questions
- Recommended guidance and financial metrics to provide to the Street
- Reviewed financial projections prior to dissemination to ensure they were appropriate and attainable
- Worked with investment banks on the road show deck to ensure the message was clear, concise and consistent
- Coached management on the best practices for a successful IPO road show
Results
The IPO was a resounding success and several times oversubscribed. Shares traded up 30% on the first day of trading and have increased over 50% during the first year of trading. In addition to the firms that were involved in the IPO, two additional brokerage firms launched research coverage of the company in the four months following the IPO. ICR Westwicke was instrumental in introducing the two incremental analysts to the Company’s story and facilitating a dialogue with management.