{"product_id":"investment-banking-9781119823377","title":"Investment Banking","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003e\u003cp\u003eInstructor and Student Resources xv\u003c\/p\u003e \u003cp\u003eAbout the Authors xix\u003c\/p\u003e \u003cp\u003eAbout the Editors xxi\u003c\/p\u003e \u003cp\u003eForeword xxiii\u003c\/p\u003e \u003cp\u003eAcknowledgments xxv\u003c\/p\u003e \u003cp\u003eDisclaimer xxxiii\u003c\/p\u003e \u003cp\u003e\u003cb\u003eIntroduction 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStructure of the Book 3\u003c\/p\u003e \u003cp\u003ePart One: Valuation (Chapters 1–3) 3\u003c\/p\u003e \u003cp\u003ePart Two: Leveraged Buyouts (Chapters 4 \u0026amp; 5) 5\u003c\/p\u003e \u003cp\u003ePart Three: Mergers \u0026amp; Acquisitions (Chapters 6 \u0026amp; 7) 6\u003c\/p\u003e \u003cp\u003ePart Four: Initial Public Offerings (Chapters 8 \u0026amp; 9) 8\u003c\/p\u003e \u003cp\u003eValueCo Summary Financial Information 9\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart One Valuation 11\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Comparable Companies Analysis 13\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSummary of Comparable Companies Analysis Steps 14\u003c\/p\u003e \u003cp\u003eStep I. Select the Universe of Comparable Companies 17\u003c\/p\u003e \u003cp\u003eStudy the Target 17\u003c\/p\u003e \u003cp\u003eIdentify Key Characteristics of the Target for Comparison Purposes 18\u003c\/p\u003e \u003cp\u003eScreen for Comparable Companies 22\u003c\/p\u003e \u003cp\u003eStep II. Locate The Necessary Financial Information 23\u003c\/p\u003e \u003cp\u003eSEC Filings: 10-K, 10-Q, 8-K, and Proxy Statement 24\u003c\/p\u003e \u003cp\u003eEquity Research 25\u003c\/p\u003e \u003cp\u003ePress Releases and News Runs 26\u003c\/p\u003e \u003cp\u003eFinancial Information Services 26\u003c\/p\u003e \u003cp\u003eSummary of Financial Data Primary Sources 27\u003c\/p\u003e \u003cp\u003eStep III. Spread Key Statistics, Ratios, and Trading Multiples 28\u003c\/p\u003e \u003cp\u003eCalculation of Key Financial Statistics and Ratios 28\u003c\/p\u003e \u003cp\u003eSupplemental Financial Concepts and Calculations 42\u003c\/p\u003e \u003cp\u003eCalculation of Key Trading Multiples 47\u003c\/p\u003e \u003cp\u003eStep IV. Benchmark the Comparable Companies 50\u003c\/p\u003e \u003cp\u003eBenchmark the Financial Statistics and Ratios 50\u003c\/p\u003e \u003cp\u003eBenchmark the Trading Multiples 50\u003c\/p\u003e \u003cp\u003eStep V. Determine Valuation 51\u003c\/p\u003e \u003cp\u003eValuation Implied by EV\/EBITDA 52\u003c\/p\u003e \u003cp\u003eValuation Implied by P\/E 52\u003c\/p\u003e \u003cp\u003eKey Pros and Cons 54\u003c\/p\u003e \u003cp\u003eIllustrative Comparable Companies Analysis for ValueCo 55\u003c\/p\u003e \u003cp\u003eStep I. Select the Universe of Comparable Companies 55\u003c\/p\u003e \u003cp\u003eStep II. Locate the Necessary Financial Information 57\u003c\/p\u003e \u003cp\u003eStep III. Spread Key Statistics, Ratios, and Trading Multiples 57\u003c\/p\u003e \u003cp\u003eStep IV. Benchmark the Comparable Companies 69\u003c\/p\u003e \u003cp\u003eStep V. Determine Valuation 74\u003c\/p\u003e \u003cp\u003eChapter 1 Questions 75\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Precedent Transactions Analysis 79\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSummary of Precedent Transactions Analysis Steps 80\u003c\/p\u003e \u003cp\u003eStep I. Select the Universe of Comparable Acquisitions 83\u003c\/p\u003e \u003cp\u003eScreen for Comparable Acquisitions 83\u003c\/p\u003e \u003cp\u003eExamine Other Considerations 84\u003c\/p\u003e \u003cp\u003eStep II. Locate the Necessary Deal-Related and Financial Information 86\u003c\/p\u003e \u003cp\u003ePublic Targets 86\u003c\/p\u003e \u003cp\u003ePrivate Targets 89\u003c\/p\u003e \u003cp\u003eSummary of Primary SEC Filings in M\u0026amp;A Transactions 90\u003c\/p\u003e \u003cp\u003eStep III. Spread Key Statistics, Ratios, and Transaction Multiples 92\u003c\/p\u003e \u003cp\u003eCalculation of Key Financial Statistics and Ratios 92\u003c\/p\u003e \u003cp\u003eCalculation of Key Transaction Multiples 98\u003c\/p\u003e \u003cp\u003eStep IV. Benchmark the Comparable Acquisitions 102\u003c\/p\u003e \u003cp\u003eStep V. Determine Valuation 102\u003c\/p\u003e \u003cp\u003eKey Pros and Cons 103\u003c\/p\u003e \u003cp\u003eIllustrative Precedent Transaction Analysis for ValueCo 104\u003c\/p\u003e \u003cp\u003eStep I. Select the Universe of Comparable Acquisitions 104\u003c\/p\u003e \u003cp\u003eStep II. Locate the Necessary Deal-Related and Financial Information 105\u003c\/p\u003e \u003cp\u003eStep III. Spread Key Statistics, Ratios, and Transaction Multiples 107\u003c\/p\u003e \u003cp\u003eStep IV. Benchmark the Comparable Acquisitions 115\u003c\/p\u003e \u003cp\u003eStep V. Determine Valuation 117\u003c\/p\u003e \u003cp\u003eChapter 2 Questions 118\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Discounted Cash Flow Analysis 123\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSummary of Discounted Cash Flow Analysis Steps 124\u003c\/p\u003e \u003cp\u003eStep I. Study the Target and Determine Key Performance Drivers 128\u003c\/p\u003e \u003cp\u003eStudy the Target 128\u003c\/p\u003e \u003cp\u003eDetermine Key Performance Drivers 128\u003c\/p\u003e \u003cp\u003eStep II. Project Free Cash Flow 129\u003c\/p\u003e \u003cp\u003eConsiderations for Projecting Free Cash Flow 129\u003c\/p\u003e \u003cp\u003eProjection of Sales, EBITDA, and EBIT 131\u003c\/p\u003e \u003cp\u003eProjection of Free Cash Flow 133\u003c\/p\u003e \u003cp\u003eStep III. Calculate Weighted Average Cost of Capital 139\u003c\/p\u003e \u003cp\u003eStep III(a): Determine Target Capital Structure 140\u003c\/p\u003e \u003cp\u003eStep III(b): Estimate Cost of Debt (rd) 141\u003c\/p\u003e \u003cp\u003eStep III(c): Estimate Cost of Equity (re) 142\u003c\/p\u003e \u003cp\u003eStep III(d): Calculate WACC 146\u003c\/p\u003e \u003cp\u003eStep IV. Determine Terminal Value 146\u003c\/p\u003e \u003cp\u003eExit Multiple Method 147\u003c\/p\u003e \u003cp\u003ePerpetuity Growth Method 147\u003c\/p\u003e \u003cp\u003eStep V. Calculate Present Value and Determine Valuation 149\u003c\/p\u003e \u003cp\u003eCalculate Present Value 149\u003c\/p\u003e \u003cp\u003eDetermine Valuation 151\u003c\/p\u003e \u003cp\u003ePerform Sensitivity Analysis 153\u003c\/p\u003e \u003cp\u003eKey Pros and Cons 154\u003c\/p\u003e \u003cp\u003eIllustrative Discounted Cash Flow Analysis for ValueCo 155\u003c\/p\u003e \u003cp\u003eStep I. Study the Target and Determine Key Performance Drivers 155\u003c\/p\u003e \u003cp\u003eStep II. Project Free Cash Flow 155\u003c\/p\u003e \u003cp\u003eProjection of Sales, EBITDA, and EBIT 157\u003c\/p\u003e \u003cp\u003eStep III. Calculate Weighted Average Cost of Capital 162\u003c\/p\u003e \u003cp\u003eStep IV. Determine Terminal Value 167\u003c\/p\u003e \u003cp\u003eStep V. Calculate Present Value and Determine Valuation 169\u003c\/p\u003e \u003cp\u003eChapter 3 Questions 174\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Two Leveraged Buyouts 179\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Leveraged Buyouts 181\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eKey Participants 183\u003c\/p\u003e \u003cp\u003eFinancial Sponsors 183\u003c\/p\u003e \u003cp\u003eInvestment Banks 184\u003c\/p\u003e \u003cp\u003eBank and Institutional Lenders 186\u003c\/p\u003e \u003cp\u003eBond Investors 187\u003c\/p\u003e \u003cp\u003ePrivate Credit Funds 188\u003c\/p\u003e \u003cp\u003eTarget Management 188\u003c\/p\u003e \u003cp\u003eCharacteristics of a Strong LBO Candidate 189\u003c\/p\u003e \u003cp\u003eStrong Cash Flow Generation 190\u003c\/p\u003e \u003cp\u003eLeading and Defensible Market Positions 190\u003c\/p\u003e \u003cp\u003eGrowth Opportunities 190\u003c\/p\u003e \u003cp\u003eEfficiency Enhancement Opportunities 191\u003c\/p\u003e \u003cp\u003eLow Capex Requirements 191\u003c\/p\u003e \u003cp\u003eStrong Asset Base 192\u003c\/p\u003e \u003cp\u003eProven Management Team 192\u003c\/p\u003e \u003cp\u003eEconomics of LBOs 193\u003c\/p\u003e \u003cp\u003eReturns Analysis—Internal Rate of Return 193\u003c\/p\u003e \u003cp\u003eReturns Analysis—Cash Return 194\u003c\/p\u003e \u003cp\u003eHow LBOs Generate Returns 194\u003c\/p\u003e \u003cp\u003eHow Leverage Is Used to Enhance Returns 196\u003c\/p\u003e \u003cp\u003ePrimary Exit\/Monetization Strategies 199\u003c\/p\u003e \u003cp\u003eSale of Business 199\u003c\/p\u003e \u003cp\u003eInitial Public Offering 200\u003c\/p\u003e \u003cp\u003eDividends \/ Dividend Recapitalization 200\u003c\/p\u003e \u003cp\u003eBelow Par Debt Repurchase 200\u003c\/p\u003e \u003cp\u003eLBO Financing: Structure 201\u003c\/p\u003e \u003cp\u003eLBO Financing: Primary Sources 204\u003c\/p\u003e \u003cp\u003eSecured Debt 204\u003c\/p\u003e \u003cp\u003eHigh Yield Bonds 208\u003c\/p\u003e \u003cp\u003eMezzanine Debt 210\u003c\/p\u003e \u003cp\u003eEquity Contribution 211\u003c\/p\u003e \u003cp\u003eLBO Financing: Selected Key Terms 214\u003c\/p\u003e \u003cp\u003eSecurity 214\u003c\/p\u003e \u003cp\u003eSeniority 214\u003c\/p\u003e \u003cp\u003eMaturity 215\u003c\/p\u003e \u003cp\u003eCoupon 216\u003c\/p\u003e \u003cp\u003eCall Protection 217\u003c\/p\u003e \u003cp\u003eCovenants 218\u003c\/p\u003e \u003cp\u003eTerm Sheets 221\u003c\/p\u003e \u003cp\u003eLBO Financing: Determining Financing Structure 224\u003c\/p\u003e \u003cp\u003eChapter 4 Questions 229\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 LBO Analysis 233\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFinancing Structure 233\u003c\/p\u003e \u003cp\u003eValuation 234\u003c\/p\u003e \u003cp\u003eStep I. Locate and Analyze the Necessary Information 236\u003c\/p\u003e \u003cp\u003eStep II. Build the Pre-LBO Model 236\u003c\/p\u003e \u003cp\u003eStep II(a): Build Historical and Projected Income Statement through EBIT 237\u003c\/p\u003e \u003cp\u003eStep II(b): Input Opening Balance Sheet and Project Balance Sheet Items 240\u003c\/p\u003e \u003cp\u003eStep II(c): Build Cash Flow Statement through Investing Activities 242\u003c\/p\u003e \u003cp\u003eOperating Activities 242\u003c\/p\u003e \u003cp\u003eStep III. Input Transaction Structure 245\u003c\/p\u003e \u003cp\u003eStep III(a): Enter Purchase Price Assumptions 245\u003c\/p\u003e \u003cp\u003eStep III(b): Enter Financing Structure into Sources and Uses 247\u003c\/p\u003e \u003cp\u003eStep III(c): Link Sources and Uses to Balance Sheet Adjustments Columns 248\u003c\/p\u003e \u003cp\u003eUses of Funds Links 251\u003c\/p\u003e \u003cp\u003eStep IV. Complete the Post-LBO Model 254\u003c\/p\u003e \u003cp\u003eStep IV(a): Build Debt Schedule 254\u003c\/p\u003e \u003cp\u003eStep IV(b): Complete Pro Forma Income Statement from EBIT to Net Income 263\u003c\/p\u003e \u003cp\u003eStep IV(c): Complete Pro Forma Balance Sheet 266\u003c\/p\u003e \u003cp\u003eStep IV(d): Complete Pro Forma Cash Flow Statement 268\u003c\/p\u003e \u003cp\u003eStep V. Perform LBO Analysis 270\u003c\/p\u003e \u003cp\u003eStep V(a): Analyze Financing Structure 270\u003c\/p\u003e \u003cp\u003eStep V(b): Perform Returns Analysis 272\u003c\/p\u003e \u003cp\u003eStep V(c): Determine Valuation 276\u003c\/p\u003e \u003cp\u003eStep V(d): Create Transaction Summary Page 277\u003c\/p\u003e \u003cp\u003eIllustrative LBO Analysis for ValueCo 278\u003c\/p\u003e \u003cp\u003eChapter 5 Questions 288\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Three Mergers \u0026amp; Acquisitions 293\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Sell-Side M\u0026amp;A 295\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAuctions 296\u003c\/p\u003e \u003cp\u003eAuction Structure 299\u003c\/p\u003e \u003cp\u003eOrganization and Preparation 299\u003c\/p\u003e \u003cp\u003eIdentify Seller Objectives and Determine Appropriate Sale Process 299\u003c\/p\u003e \u003cp\u003ePerform Sell-Side Advisor Due Diligence and Preliminary\u003c\/p\u003e \u003cp\u003eValuation Analysis 301\u003c\/p\u003e \u003cp\u003eSelect Buyer Universe 301\u003c\/p\u003e \u003cp\u003ePrepare Marketing Materials 302\u003c\/p\u003e \u003cp\u003ePrepare Confidentiality Agreement 305\u003c\/p\u003e \u003cp\u003eFirst Round 306\u003c\/p\u003e \u003cp\u003eContact Prospective Buyers 306\u003c\/p\u003e \u003cp\u003eNegotiate and Execute Confidentiality Agreement with Interested Parties 306\u003c\/p\u003e \u003cp\u003eDistribute Confidential Information Memorandum and Initial Bid Procedures Letter 307\u003c\/p\u003e \u003cp\u003ePrepare Management Presentation 308\u003c\/p\u003e \u003cp\u003eSet Up Data Room 309\u003c\/p\u003e \u003cp\u003ePrepare Stapled Financing Package (if applicable) 311\u003c\/p\u003e \u003cp\u003eReceive Initial Bids and Select Buyers to Proceed to Second Round 311\u003c\/p\u003e \u003cp\u003eSecond Round 313\u003c\/p\u003e \u003cp\u003eConduct Management Presentations 313\u003c\/p\u003e \u003cp\u003eFacilitate Site Visits 314\u003c\/p\u003e \u003cp\u003eProvide Data Room Access and Respond to Diligence Requests 314\u003c\/p\u003e \u003cp\u003eDistribute Final Bid Procedures Letter and Draft Definitive Agreement 315\u003c\/p\u003e \u003cp\u003eReceive Final Bids 316\u003c\/p\u003e \u003cp\u003eNegotiations 320\u003c\/p\u003e \u003cp\u003eEvaluate Final Bids 320\u003c\/p\u003e \u003cp\u003eNegotiate with Preferred Buyer(s) 320\u003c\/p\u003e \u003cp\u003eSelect Winning Bidder 320\u003c\/p\u003e \u003cp\u003eRender Fairness Opinion (if required) 321\u003c\/p\u003e \u003cp\u003eReceive Board\/Owner Approval and Execute Definitive Agreement 321\u003c\/p\u003e \u003cp\u003eClosing 322\u003c\/p\u003e \u003cp\u003eObtain Necessary Approvals 322\u003c\/p\u003e \u003cp\u003eShareholder Approval 323\u003c\/p\u003e \u003cp\u003eFinancing and Closing 325\u003c\/p\u003e \u003cp\u003eNegotiated Sale 326\u003c\/p\u003e \u003cp\u003eChapter 6 Questions 328\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Buy-Side M\u0026amp;A 331\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBuyer Motivation 332\u003c\/p\u003e \u003cp\u003eSynergies 333\u003c\/p\u003e \u003cp\u003eCost Synergies 334\u003c\/p\u003e \u003cp\u003eRevenue Synergies 334\u003c\/p\u003e \u003cp\u003eAcquisition Strategies 335\u003c\/p\u003e \u003cp\u003eHorizontal Integration 335\u003c\/p\u003e \u003cp\u003eVertical Integration 335\u003c\/p\u003e \u003cp\u003eConglomeration 336\u003c\/p\u003e \u003cp\u003eForm of Financing 337\u003c\/p\u003e \u003cp\u003eCash on Hand 338\u003c\/p\u003e \u003cp\u003eDebt Financing 338\u003c\/p\u003e \u003cp\u003eEquity Financing 339\u003c\/p\u003e \u003cp\u003eDebt vs. Equity Financing Summary—Acquirer Perspective 340\u003c\/p\u003e \u003cp\u003eDeal Structure 340\u003c\/p\u003e \u003cp\u003eStock Sale 340\u003c\/p\u003e \u003cp\u003eAsset Sale 343\u003c\/p\u003e \u003cp\u003eStock Sales Treated as Asset Sales for Tax Purposes 346\u003c\/p\u003e \u003cp\u003eBuy-Side Valuation 349\u003c\/p\u003e \u003cp\u003eFootball Field 349\u003c\/p\u003e \u003cp\u003eAnalysis at Various Prices 352\u003c\/p\u003e \u003cp\u003eContribution Analysis 353\u003c\/p\u003e \u003cp\u003eMerger Consequences Analysis 355\u003c\/p\u003e \u003cp\u003ePurchase Price Assumptions 355\u003c\/p\u003e \u003cp\u003eBalance Sheet Effects 360\u003c\/p\u003e \u003cp\u003eAccretion\/(Dilution) Analysis 365\u003c\/p\u003e \u003cp\u003eAcquisition Scenarios—I) 50% Stock\/50% Cash; II) 100% Cash; and III) 100% Stock 368\u003c\/p\u003e \u003cp\u003eIllustrative Merger Consequences Analysis for the BuyerCo \/ ValueCo Transaction 373\u003c\/p\u003e \u003cp\u003eChapter 7 Questions 394\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Four Initial Public Offerings 399\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Initial Public Offerings 401\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhy Do Companies Go Public? 402\u003c\/p\u003e \u003cp\u003eCharacteristics of a Strong IPO Candidate 404\u003c\/p\u003e \u003cp\u003eAttractive Industry 404\u003c\/p\u003e \u003cp\u003eStrong Competitive Position 404\u003c\/p\u003e \u003cp\u003eGrowth Opportunities 405\u003c\/p\u003e \u003cp\u003eMoat \u0026amp; Barriers to Entry 406\u003c\/p\u003e \u003cp\u003eHealthy Financial Profile 406\u003c\/p\u003e \u003cp\u003eDisruptive \u0026amp; Differentiated Solutions 407\u003c\/p\u003e \u003cp\u003eFavorable Risk Profile 407\u003c\/p\u003e \u003cp\u003eProven Management Team 408\u003c\/p\u003e \u003cp\u003eKey Participants 409\u003c\/p\u003e \u003cp\u003eInvestment Banks 409\u003c\/p\u003e \u003cp\u003eCompany Management 412\u003c\/p\u003e \u003cp\u003eCurrent Owners \/ Investors 413\u003c\/p\u003e \u003cp\u003eIPO Investors 413\u003c\/p\u003e \u003cp\u003eLawyers 414\u003c\/p\u003e \u003cp\u003eAccountants 414\u003c\/p\u003e \u003cp\u003eExchange Partner 415\u003c\/p\u003e \u003cp\u003eIPO Advisors 416\u003c\/p\u003e \u003cp\u003eVendors 416\u003c\/p\u003e \u003cp\u003eSelected Key Terms 417\u003c\/p\u003e \u003cp\u003eOffering Size 418\u003c\/p\u003e \u003cp\u003ePrimary \/ Secondary 419\u003c\/p\u003e \u003cp\u003eOverallotment Option, a.k.a. “Greenshoe” 420\u003c\/p\u003e \u003cp\u003eSyndicate Structure 421\u003c\/p\u003e \u003cp\u003eLock-up Provision 422\u003c\/p\u003e \u003cp\u003eListing Exchange 422\u003c\/p\u003e \u003cp\u003eGross Spread 423\u003c\/p\u003e \u003cp\u003eDual-Track Process 424\u003c\/p\u003e \u003cp\u003eSpecial Purpose Acquisition Companies (SPACs) 427\u003c\/p\u003e \u003cp\u003eDirect Listings 429\u003c\/p\u003e \u003cp\u003ePost-IPO Equity Offerings 432\u003c\/p\u003e \u003cp\u003eIPO Considerations 433\u003c\/p\u003e \u003cp\u003eChapter 8 Questions 435\u003c\/p\u003e \u003cp\u003eNasdaq Appendix 439\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 The IPO Process 443\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOrganization and Preparation 445\u003c\/p\u003e \u003cp\u003eSelect IPO Team, Exchange Partner, and Assign Responsibilities 445\u003c\/p\u003e \u003cp\u003eManage Corporate Housekeeping 448\u003c\/p\u003e \u003cp\u003eC Corp vs. Up-C Structure 453\u003c\/p\u003e \u003cp\u003eDetermine IPO Timing 455\u003c\/p\u003e \u003cp\u003eDetermine Offering Structure and Preliminary IPO Valuation 456\u003c\/p\u003e \u003cp\u003eHost Organizational Meeting 459\u003c\/p\u003e \u003cp\u003eDue Diligence, Drafting, and Filing 460\u003c\/p\u003e \u003cp\u003ePerform Underwriter Due Diligence 460\u003c\/p\u003e \u003cp\u003eDraft and File the Registration Statement 461\u003c\/p\u003e \u003cp\u003ePrepare Other Key Transaction and Corporate Governance Documents 466\u003c\/p\u003e \u003cp\u003eCoordinate with Equity Research 467\u003c\/p\u003e \u003cp\u003eRespond to SEC Comments and File Amended Registration Statement 467\u003c\/p\u003e \u003cp\u003eMarketing and Roadshow 468\u003c\/p\u003e \u003cp\u003ePrepare Marketing Materials 468\u003c\/p\u003e \u003cp\u003eSalesforce Teach-in 469\u003c\/p\u003e \u003cp\u003eConduct Roadshow 470\u003c\/p\u003e \u003cp\u003eBuild Order Book 473\u003c\/p\u003e \u003cp\u003ePricing and Allocation 475\u003c\/p\u003e \u003cp\u003ePrice the Offering 475\u003c\/p\u003e \u003cp\u003eAllocate Shares to Investors 477\u003c\/p\u003e \u003cp\u003eClosing 477\u003c\/p\u003e \u003cp\u003eChapter 9 Questions 479\u003c\/p\u003e \u003cp\u003eSolutions to Selected Questions 485\u003c\/p\u003e \u003cp\u003eAfterword 513\u003c\/p\u003e \u003cp\u003eBibliography and Recommended Reading 515\u003c\/p\u003e \u003cp\u003eIndex 521\u003c\/p\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default Title","offer_id":48738368880983,"sku":"9781119823377","price":71.1,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9781119823377.jpg?v=1723811985","url":"https:\/\/bookcurl.com\/products\/investment-banking-9781119823377","provider":"Book Curl","version":"1.0","type":"link"}