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Common Postfinancing Mistakes
Key considerations for directors:
• Many small-cap financings don’t end when the documents are signed.
• Directors might need to supervise how financings are communicated to investors.
• Directors need to ensure that processes are in place to administer financings postclosing.
Common mistakes to avoid:
• Especially with financings, small-cap companies often pay insufficient attention to the type of audience reading the press releases.
• Trying to “hide” dilutive financings in Form 8-K filings is a strategy more directors should question.
• Too many small-cap directors have no idea which elements of a financing could result in penalties and how material those penalties ...