Company – Private Equity backed manufacturer of Microdisplays with $40M in revenues and operations in the US and Japan. Company was in the zone of insolvency in need of additional financing to continue operations
Situation – The Company was in the initial stages of preparing an S-1 for filing with the SEC in preparation for an IPO when investor group and investment bankers determined they needed CFO with prior IPO experience. Company was unable to prepare timely accurate financials for updated SEC filings or provide other required information necessary for an IPO.
Assignment – After being referred in by the Company’s corporate counsel, I was hired to drive the public offering process for a $57M IPO, including all SEC registrations, road show presentation, and financial model used by equity analysts with investment banking firms.
Results – Presented to 80+ institutional investors in public road show and an additional 20 VC’s and PEGs following failed IPO. Ultimately completed $12M private equity financing.
Company – Publicly Traded biotech Company trading on NASDAQ with ongoing clinical trials for lung cancer.
Situation – The Company engaged Korn/Ferry to perform an executive search for a CFO with prior public offering experience to be responsible for anticipated public follow on offering. Shortly after accepting the CFO position, the Company announced a failed clinical trial.
Assignment – In addition to developing and implementing new SOX public reporting requirements and following the failed clinical trial, Board requested a restructuring plan, including a rolling 13 week cash requirements analysis and financial model to support a $50M PIPE financing.
Results – Developed and implemented a restructuring plan to reduce operating costs by 50% and lengthened cash runway to allow for additional financing.
Company – VC backed software Company by tier 1 VCs from the bay area developing a software analytics platform for genomics research.
Situation – The Company had raised significant Series B VC funding in anticipation of a public offering. They were developing an executive management team including new CEO to lead expected growth.
Assignment – Referred in by lead VC and Chairman to develop operational infrastructure, drive Series C financing process and prepare company for anticipated public offering within 6 months of hiring.
Results – Completed Series C financing for $18M. Presented to over 90+ institutional investors during IPO resulting in raising $122M with a market cap of over $500M on NASDAQ. Built infrastructure to scale company from 30 to 150 employees in 2 years. Supported Board of Directors initiative to sell company resulting in a successful exit for investors.
Company – PE backed public company (non-reporting) with telecommunication operations in 3 countries and $40M in revenue.
Situation – The Company had hired investment bankers to merge 3 companies and simultaneously completed a public offering for $40M on NASDAQ. The Company’s financials were in disarray and they needed to hire a CFO for the first time to clean up the financials and lead a public offering process.
Assignment – Referred in by the Company’s public accounting firm under a crisis situation to drive all financing activities associated with merging and integrating three companies and executing an initial public offering for $28 million.
Results – Completed all acquisition agreements, SEC registrations and delivered 70+ investor presentations during the IPO road show. Completed debt & equity financing totaling $4M following withdrawal of the public offering due to poor market conditions.
Company – Publicly traded computer reseller with $55M in revenues with 4 separate operating entities.
Situation – The Company discovered fraudulent behavior by CFO and needed a new finance team to restructure company under a pre-BK 11 workout plan.
Assignment – Hired as VP, Corporate Controller to complete all SEC reports, develop restructuring plan and cash flow analysis on a 13 week rolling basis.
Results – Developed and implemented restructuring plan resulting in selling 4 subsidiaries, and reducing operating costs by 40%.