What are some of the more challenging process steps?
There is a lot of effort that goes into the initial "pre-filing" phase, that oftentimes is
underestimated in terms of resources and timeline. Implications go beyond governance and internal
controls. Investor relations, media, treasury, risk management, legal, tax, human resources,
technology and project management all need to be assessed and acted upon.
challenge is tackling SEC reporting requirements. Detailed information on risk factors, executive
compensation and historical financial data will need to be disclosed. In addition, financial statements
need to be prepared both in accordance with U.S. GAAP and SEC Regulation S-X. Addressing
SEC reporting requirements is where Candela Solutions can contribute a lot of value.
Why are the detailed IPO Process steps important to follow?
Missing a single step can be devastating in terms of triggering more expensive corrective
action and prolonging a successful registration process. A strong project management role must be
defined and present to ensure that the plotted roadmap to ‘going public’ is realistic and attained. Again,
this is an area where we can contribute anywhere from taking the lead as Project Manager to simply
being an Advisor contributing to specified needs.
In conclusion, IPOs are both challenging and
rewarding. Education, planning, executing and on-going managing are all essential steps towards
ensuring a successful IPO transaction.