Situation Overview: Solebury was engaged to perform a perception audit with the goal of better understanding current market perceptions of Company A's performance, disclosures, financials and operations following a period of equity under performance.
Perception Study Findings: Company A was generally viewed positively in its sector with solid growth and margins. However, there were several areas of concern voiced by Wall Street that were holding back valuation and the overall comfort level with the equity story, including: sustainability of growth and margins, competitive environment, insider ownership (pace of sponsor sell-down), and access to management.
Situation Overview: Company B, a foreign domiciled corporation, was pursuing a U.S.IPO in a sector with depressed valuations due to a significant regulatory-related overhang. The company was seeking an Investor Relations firm to provide strategic advice to position the equity story effectively - and to take an active project management role given the logistical challenges of the company not being in the U.S.
Solebury pre-IPO Action Plan: Solebury and Company B worked together to develop and execute a best-in-class Investor Relations program while minimizing the time constrains on the management team. Solebury created a customized road map to prepare for the IPO, build out the necessary infrastructure, and prepare for a post-IPO earnings release. Our team helped to refine the equity story to focus on the attributes shared with other high quality companies and provided management with extensive preparation to anticipate difficult questions from analysts and investors.
Situation Overview: Company C was a sponsor-backed company that went public during a challenging equity market and priced 20% below its filed range. The sponsor did not sell any stock in the IPO given the sub-optimal valuation.
Solebury Investor Relation Action Plan: Solebury created an ambitious IR plan to engage the investment community with a mix of research-sponsored conferences and non-deal roadshows. The goal was to overcome the market-related challenges that existed at the time of the IPO and educate the investment community about the merits of Company C by staying visible with research analysts, deepening relationships with existing investors and courting new investors.