1 / 25

Webcast Guidelines The audience is in listen-only mode

Webcast Guidelines The audience is in listen-only mode Please e-mail questions via the Q&A panel box Select audience questions will be answered during the last five minutes of the program Webex customer support: 866-229-3239. MODERATOR. David Marcus Senior writer The Deal LLC.

chavez
Download Presentation

Webcast Guidelines The audience is in listen-only mode

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Webcast Guidelines The audience is in listen-only mode Please e-mail questions via the Q&A panel box Select audience questions will be answered during the last five minutes of the program Webex customer support: 866-229-3239

  2. MODERATOR David Marcus Senior writer The Deal LLC

  3. EXPERT PANELIST Andrea Auerbach Managing director and head of U.S. PE research Cambridge Associates LLC

  4. EXPERT PANELIST Mike Dinan CEO and president Dinan & Co. LLC

  5. EXPERT PANELIST Ryan Maierson Partner Latham & Watkins LLP

  6. EXPERT PANELIST Jorge Mora U.S. head of financial sponsors Macquarie Capital

  7. Agenda • General intent of the JOBS Act • IPO and PE landscape • Specific provisions that will impact • aspects of PE: fundraising, IPO • and dual-track process • 4. Venture capital and crowdfunding • 5. Sectors, MLPs and foreign issuers

  8. The intent of the Jumpstart Our Business Startups Act

  9. Current PE environment

  10. PE Transaction Activity Source: Macquarie Capital, S&P & LCD

  11. Financial-Sponsor-Sourced Deals Source: Macquarie Capital, Prequin

  12. IPO Landscape 2001-2012

  13. Current IPO Environment

  14. Provisions that will affect PE Revision to general solicitation and advertising rules Change under Investment Company Act Change to increase number of stockholders of record prior to required registration with the SEC Change in required broker-dealer registration for persons maintaining a platform to conduct private placements Portfolio company IPOs

  15. Summary of IPO provisions • Creates new category of issuer: emerging-growth company • • Permits prefiling offers to qualified institutional buyer and institutional accredited investors • • Allows confidential IPO filings with the SEC • • Permits two years of audited financial statements at IPO • instead of three • • Allows analysts to publish research at time of IPO • instead of 40 days later • • Utilizes regulatory on-ramp transition period of up to five years Source: Latham & Watkins

  16. The impact of the JOBS Act on VC funding

  17. Crowdfunding and the JOBS Act

  18. The implications for IPOs, foreign issuers and master limited partnerships

  19. Direction of dual-track process under new mandates

  20. Outlook of PE industry with the JOBS Act

  21. Audience Q&A

More Related