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????美國總統(tǒng)奧巴馬簽署《創(chuàng)業(yè)企業(yè)融資法案》（JOBS）兩個月以來，已有幾十家“新興公司”向美國證券交易委員會（SEC）提交了保密的IPO登記文件。有些公司甚至已經(jīng)結(jié)束了閉門審核流程，提交了“公開”文件（如LegalZoom）。 ????從我聽到的情況看，該流程運轉(zhuǎn)順利。SEC為此類發(fā)行人創(chuàng)建了一個安全電子郵件系統(tǒng)，讓這些年輕的非上市公司能在媒體鎂光燈之外解決一些微妙的問題。 ????但是對于還沒有確定究竟是上市、還是被收購的新興公司，這一新選擇讓人左右為難。如何在秘密推進IPO計劃的同時，繼續(xù)尋求被收購的機會？ ????要回答這個問題，不妨看看Fleetmatics，這是波士頓一家為商業(yè)車隊提供全球定位服務(wù)（GPS）追蹤應(yīng)用的公司。5月25日，該公司發(fā)表了一份簡短聲明：FleetMatics Group Limited日前宣布，公司計劃推進已完成登記的普通股IPO。FleetMatics于2012年5月17日保密提交了IPO登記表草稿，預(yù)計在SEC完成審核流程后將啟動IPO。 ????換言之：“嗨，潛在的收購者，我們愿意談?wù)?。?/p> ????聰明的變通方法。其他公司是否效仿Fleetmatics，值得關(guān)注。 ????譯者：早稻米 |
????It's been two months since President Obama signed the JOBS Act into law, and dozens of "emerging companies" already have filed confidential IPO registration papers with the SEC. Some even have emerged from the private vetting process and filed "public" papers (e.g., LegalZoom). ????From what I hear, the process has been going smoothly. The SEC has created a secure email system for such issuers, and young, still-private companies get to resolve delicate issues outside of the media's glare. ????But the new option also has created a dilemma for companies that aren't yet sure if they'd prefer to go public or be acquired. How do you run a dual process when no one knows that you've put IPO plans in motion? ????For the answer, let's look at Fleetmatics, a Boston-based provider of GPS tracking applications for commercial fleets. On May 25, the company issued a brief press release which said the following: ????FleetMatics Group Limited today announced that it plans to conduct a registered initial public offering of its common stock. The offering is expected to commence after the SEC completes the review process initiated by FleetMatics' confidential submission on Thursday May 17, 2012 of its draft registration statement. ????In other words: "Hey potential acquirers, we're open to talking." ????Clever workaround. Should be interesting to see if others follow in Fleetmatics' footsteps. |
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