Initial Public Offerings (IPOs)
Launching IPOs with Straight Talk
Our IPO achievements consistently garner top-tier rankings on league tables. Bloomberg lists the firm as #6 IPO Manager Advisor in its 2010 Year-End Legal Advisor League Tables, Thomson Reuters ranks Andrews Kurth #2 Manager Legal Advisor in U.S. IPOs in its U.S. Capital Markets Review for Year-End 2008. Additionally, The Deal Magazine ranked the firm in its 2011 Deals of the Year: Third Largest IPO in U.S. History, and the firm was ranked three times on Texas Lawyer’s 2008 “Top Ten Texas IPOs” list. Andrews Kurth provides complete representation and guidance in a company’s transition from private to public.
In a recent 18-month period, we completed 15 IPOs valued at more than $3.5 billion. We have counseled on the dropdown or roll-up structuring and IPOs of numerous MLPs, as discussed elsewhere under Corporate-Master Limited Partnerships (MLP). We were counselors on the IPO of Argentina’s largest natural gas distribution company. And we have had particular success in helping REITs with IPOs, serving as issuer’s counsel, underwriters counsel and contributor counsel.
When a client’s growth and success are rewarded with an opportunity to access the public markets, we use our strong underwriter relationships and securities law knowledge to support clients’ efforts to complete their IPO. Resident lawyers in our Capital Markets, Securities and Finance practice groups help anticipate issues, provide useful solutions, ensure offerings remain regulatory compliant and provide objective guidance on whether proceeding makes good business sense.
Prior to an IPO, our lawyers address the state of each company’s governance policies and practices, financial structure and board of directors. We recommend measures and improvements that anticipate regulatory requirements, the scrutiny of investors and regulators, and stock exchange listing requirements, and prepares the company for the oversight of regulatory agencies, investors and analysts. As part of our IPO guidance, we address all SEC and stock exchange requirements for the filing. We also assist with implementing a corporate charter and bylaws appropriate for a public entity, the underwriting process, restructure equity compensation arrangements as needed, address executive compensation and advise on issues involving anticipated future compliance with disclosure rules and continued listing requirements.
We often help clients anticipate the process and impact of post-IPO offerings by selling stockholders, issuances of debt or other financings.
Active IPO Practice
A beneficial consequence of our past and current high levels of IPO activity is how we add efficiency and strategic insight to the entire SEC registration and documentation process.
From stock market listing requirements to company-wide concerns on corporate governance and executive compensation, Andrews Kurth provides clients with the targeted, issue-specific support clients need to transform a business into a publicly traded company.
#3 M&A + Securities Offerings in Texas, by deal count (77), Q1-Q3 2016
#3 Securities Offering in Texas, by deal count (42), Q1-Q3 2016
#4 M&A + Securities Offerings in Texas, by deal count (44), First Half 2016
#4 Securities Offering in Texas, by deal count (23), First Half 2016
Recognized as one of the most recommended law firms for Capital Markets Equity Offerings (Advice to Issuers)
- 2/11/2011Andrews Kurth Represents Underwriters in Kinder Morgan IPO
- 4/2/2009Andrews Kurth Ranks High on ALM Corporate Scorecard
- 3/3/2009Andrews Kurth Ranked Among Nation's Top Capital Markets Legal Advisors
- 4/28/2008Andrews Kurth Ranks High On ALM Corporate Scorecard
- 5/18/2007Andrews Kurth Ranked Among Nation’s Top Corporate/Securities Firms
- Proxy Statement Interactive Roundtable — Corporate Governance Communications Strategies for Shareholder EngagementDecember 14, 2016
- Finance Leadership SummitOctober 25, 2016
- KPMG IPO BootcampNovember 4, 2015
- Finance Leadership SummitNovember 4, 2015
- FAST Act Amends JOBS Act and Creates New Private Resale ExemptionDecember 15, 2015
- Trends in SEC Staff Comments on Oil and Gas DisclosuresFebruary 9, 2015
- General Solicitation Permitted in Certain Rule 506 and Rule 144A Offerings; “Bad Actors” Disqualified from Rule 506 Offerings; Other Significant Amendments Proposed to Regulation DJuly 22, 2013
- JOBS Act Options for General Counsel to Ponder in IPOs In-House Texas, A Publication of Texas Lawyer in Association with The General Counsel ForumMay 13, 2013
- JOBS Act Update: SEC Issues New Guidance and Approves Amendments to FINRA Research RulesOctober 31, 2012