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FALL UPDATE
MasterClass™ on
GOING PUBLIC WITHOUT AN IPO

New Alternatives for Tapping

the Public Capital Markets

Featuring 20 Expert Speakers

  • Now that the traditional IPO market is moribund, what do you need to know about “alternative public offerings” like SPACs and private 144A IPOs??
  • Why have these vehicles become much more reputable--& even popular--among private equity &venture capital firms & their portfolio companies--& among the hedge funds who are snapping them up??
  • What’s driving this trend?  Is it institutional private funds exiting their portfolio companies?  Or is it hedge funds deploying their cash hoards?
  • How do you analyze the advantages & disadvantages of these vehicles? How do they compare to mainstream IPOs? Who are the winners & losers??
  • Who among your colleagues & competitors are doing these deals, & how are they getting them done??

FULL-DAY MASTERCLASS
Tuesday, October 31, 2006
8:00 am to 5:30 pm
1601 Broadway (at 48th Street)
New York City

HALF-DAY PRE-MASTERCLASS WORKSHOP (optional)

Private IPOs 101--Basics of SPACs & 144A Offerings

Monday, October 30, 2006
2:00 pm - 5:00 pm
1601 Broadway (at 48th Street)
New York City

SEE DETAILS BELOW

Click Here to Register >>     Forward to a Colleague >>



Designed to Meet the Needs of Private Equity & Venture Capital Investors, Hedge Fund Managers, Senior & Mezzanine Lenders, Company CEOs & CFOs, Investment Bankers, & the Lawyers & Other Professionals Who Advise Them

Faculty | Schedule | Registration | Location | Sponsorship | Audio Package

In the eyes of many private equity and venture capital investors, the evaporation of the domestic IPO as an exit vehicle during the past few years has been a calamity for companies that fall below the ever-increasing demands of that market. In the past, robust public markets have always underpinned those companies' business models … and the hopes of their investors.

Put simply, for them IPOs have always been the brass ring, and the public market was more or less taken for granted. 

Nowadays, many general partners of buyout and venture capital firms are exploring alternative ways of accessing public equity markets. Increasingly, they are utilizing techniques that in another era might have been ignored -- or even ridiculed.

The list of these "alternative public offerings" includes SPACs (special purpose acquisition companies), private 144A IPOs, reverse mergers (with or without PIPEs), trading and non-trading (“virgin”) shells, and offshore listings, such as those in London and Hong Kong.

By attending this special MasterClass, you will enhance your understanding of the pros and cons, benefits and risks, and opportunities and pitfalls of these transactions.  You will learn how these markets are evolving and how you can use that information to your advantage.


For this unique full-day MasterClass, George Bickerstaff, managing director of CRT Capital Group, has a recruited a team of 20 prominent speakers representing all the significant aspects of this “new” world.  Bickerstaff is former CFO of Novartis Pharma and IMS Healthcare, as well as several companies backed by major private equity and venture capital firms.  CRT Capital is a Stamford-based investment bank with strong ties with the community of hedge fund investors who account for the lion’s share of equity capital invested in these specialized transactions.

“In this MasterClass, experts and pioneering market participants will cover the newest features and evolutionary concepts in SPACs and other alternative public offerings," says Bickerstaff.  “And in the Workshops held the afternoon before, we'll cover the nuts-and-bolts basics about what these vehicles are, who should use them, why, and under what conditions.”

Everyone involved with this MasterClass, says Bickerstaff, “keenly understands the challenges involved with some of these strategies, but also recognizes that unique opportunities may exist to create value for investors through selective use of these vehicles, especially as they continue to evolve.”


For example:

  • You’ll hear about the different varieties of “blank check" public companies (e.g., SPACs) which raise capital for the purpose of acquiring operating companies and converting them into normal public companies once shareholders approve the acquisitions.
  • You’ll learn how private equity and venture capital investors, who are searching for capital and routes to public markets for their portfolio companies, are finding liquidity through 144A private IPOs.
  • You’ll learn about stock offerings on offshore exchanges, such as those in London, Dubai, and Hong Kong.
  • And you’ll hear about the latest developments in other alternative public offerings– and why they’re becoming more prevalent.


When You Leave This MasterClass, You'll Know:

  • What’s driving the increasing frequency of SPACs and other alternative public offerings?
  • What are the inherent advantages of each structure? How are they similar?
  • Which circumstances are appropriate for which structure?
  • What are some of the common misconceptions about these alternative public offerings?
  • Who are utilizing these alternative public offerings structures?
  • Who's investing in alternative public offerings?
  • What recent innovations are making these structures more attractive to both issuers and investors?
  • What is the marketing process for each of the alternative public offerings?
  • How are these transactions priced, and which structures will offer the best valuations for your portfolio company?
  • What does the SEC think about these deals?
  • How do you choose the right financial advisors and legal counsel?
  • How are these deal structures continuing to evolve and what impact will that have?
  • How susceptible are these transactions to either regulatory or fundamental changes in the capital markets?

 

But please, register early – attendance is limited, and we will sell out …

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Faculty

Chaired By

  • George W. Bickerstaff III, Managing Director,  CRT Capital Group LLC

Hosted By

  • Burt Alimansky, Chairman, The Capital Roundtable & Managing Partner, Alimansky & Bethell Group

Speakers Include

  • Arnaud Ajdler, Director, Rhapsody Acquisition Corp.
  • Charles F. Auster, Partner, One Equity Partners LLC
  • Edward H. Bersoff, Chairman, Greenwich Associates LLC
  • Richard A. Brand, Managing Director, Prospect Capital Management LLC
  • William R. de Jonge, Chief Executive Officer, North American Insurance Leaders Inc.
  • William D. Fertig, Co-Chairman & CIO, Context Capital Management LLC
  • Scott B. Flaherty, Managing Director, Banc of America Securities LLC
  • Joel D. Liffmann, Managing Director, Oracle Investment Management Inc.
  • David N. Feldman, Managing Partner, Feldman Weinstein & Smith LLP (masterclass & workshop)
  • Frederick H. Joseph, Managing Director, Morgan Joseph & Co. Inc.
  • Michiel C. McCarty, Managing Director, CRT Capital Group LLC

  • Joel I. Papernik, Member, Mintz Levin Cohn Ferris Glovsky & Popeo PC

  • Jay R. Petschek, Managing Member, Corsair Capital Management LLC
  • Eric Seal, Senior Vice President, CRT Capital Group LLC  (workshop only)
  • Bart W. Stuck, Managing Director, Signal Lake Venture Fund LP
  • David M. Sultan, Managing Director, Fir Tree Partners
  • Floyd I. Wittlin, Partner, Bingham McCutchen LLP

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Schedule

MasterClass
07:30 - 08:30
08:30 - 09:00
09:00 - 09:30

09:30 - 10:30

10:30 - 11:00
11:00 - 12:15


12:15 - 01:15
01:15 - 02:30


02:30 - 03:15
03:15 - 03:30
03:30 - 04:30



04:30 - 05:30



05:30

Workshop
01:30 - 02:00
02:00 - 05:00

   

Tuesday, October 31, 2006
Registration, Networking, Continental Breakfast
Welcoming Remarks & Audience Introductions
First Keynote Presentation -- How SPACs & Other Alternative Public Offerings Are Changing the Capital Markets
Second Keynote Presentation -- Alternative Public Offerings vs. Traditional IPOs: Who? What? When? Where? How?
Coffee & Networking Break
First Panel -- Charting The New Territories (Four general partners discussing how they are using the new alternative public offering structures, what they find attractive, and the results they are experiencing)
Luncheon & Networking
Second Panel -- The Investor Perspectives (Four hedge fund investors discussing their views on the various alternative public offering structures and what they find attractive about them)
Third Keynote Interview -- Conversations with a Dealmaker
Coffee & Networking    
Third Panel -- The Helping Hands (Four lawyers, investment bankers, & other advisors discuss their views on the various alternative public offering structures, what they are advising their clients, and under what circumstances each alternative public offering makes sense)
Fourth Panel --Views from the Trenches (Four executives, sponsors, & investors who have completed alternative public offering transactions discuss the practical implications of getting a transaction closed, the lessons they have learned, and how they would do it better next time)
Adjournment

Monday, October 30, 2006 (Optional)
Registration, Networking, Refreshments
Private IPOs 101--Basics of SPACs & 144A Offerings (Four experts explain everything you need to know about how SPACs are created, who's doing them, who's investing in them, and how you can benefit from using them.  Also, why some sponsors are using Rule 144A to access the private placement market, and how these deals are using an old tool in creative new ways.)

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Registration
  • The registration fee is $1495 for the MasterClass and $495 for the Workshop -- or $1895 for both.
  • At the door, if space is available the fee is $1595 for the MasterClass and $495 for the Workshop -- or $1995 for both.
  • Special group rates -- The Capital Roundtable offers a special rate for 3 or more people from your firm.  For more info, please contact Amber Mahood at amahood@capitalroundtable.com or 212/832-7333 ext 103.


Click Here to Register >>     Purchase Audio Package >>

You can pay by credit card (using the links above) or by check. Mail your check and business card to New York Business Roundtable Inc., 12 East 44 Street, Penthouse, New York, NY 10017.

If the program is oversubscribed, we will notify you immediately and not charge your credit card. (If you need to cancel, please do so by Tuesday, October 24 at 5:00pm, and we will credit you for a future meeting.)

From time to time, for reasons beyond Capital Roundtable's control, program schedules and speakers become subject to change. We make every effort to announce substantive changes by email to registrants at least 48 hours in advance.

Have a special question? Please contact Amber Mahood at 212/832-7333 ext. 103 or by email at amahood@capitalroundtable.com.

Qualify for Financial Assistance?  Contact Tricia Kang at 212/832-7333 ext. 106 or by email at ae@capitalroundtable.com for complete information.

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Location

The Conference Center
American Management Association

1601 Broadway (at 48th Street)

New York City

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Audio Package

Can't attend but want to hear the program? You can buy the audio package along with the handouts. Purchase the audio package online now.

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Sponsorship

The Capital Roundtable offers excellent sponsorship opportunities to reach the private equity community. For more details, visit our Sponsorship Page or contact Amber Mahood at 212/832-7333 ext. 103 or by email at amahood@capitalroundtable.com.

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