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IPOs and IPO Alternatives
Key considerations for independent directors:
• It’s easy to lose sight of the fact that directors represent all shareholders, not just the large shareholders.
• Are the directors being brutally realistic about whether the company is ready to be public?
• IPO success stories abound, but the board also needs to focus on worst-case scenarios. It’s critical to be students of recent history, especially with IPO alternatives.
Common mistakes to avoid:
• Being unduly influenced by large shareholders.
• Materially underestimating the distraction and expense of going public and being public.
• Having inadequate backup plans if the IPO is delayed or withdrawn.
• Failing to appreciate the ...