Let me see if I can put to rest this "quiet period
Post# of 87012
(Total Views: 581)
Posted On: 03/31/2021 10:23:44 PM
Let me see if I can put to rest this "quiet period" question.
First, please, I don't want to see the term IPO posted here again. We are a publicly traded company. Initial Public Offerings (IPO) are for private companies wanting to be listed on an exchange, so they hire a securities firm like Goldman Sachs or any of the many other firms that take private companies public. Yes there is a 40 day quiet period involved for IPO's, but it is not applicable to UNVC.
This following quote comes from a large advisory firm for private companies looking to go public, they have offices on both coasts. I cut and pasted...
"For publicly traded companies, the quiet period refers to the time between the end of a financial quarter and the company announcing financial results. The formal quarter-end quiet period begins at the close of each financial quarter and extends until the company’s earnings call."
Now, that quiet period is for any amount of days 1, 2, 3 days or up to what ever amount, until they put out their financials for that recently closed quarter. Companies have to have financials out within 30 days. If They get the financials out in a week, the quiet period is over. They have to have this quiet period because the CEO obviously knows what the "numbers" look like and they can't speak about it until everyone gets to see the numbers when released.
So as long as Doc does not talk about financial matters concerning UNVC then I don't think he is restricted by any more than he already is because UNVC is legally dark and he has to be careful what he says.
Does anyone have any addition input, it would be much appreciated?
First, please, I don't want to see the term IPO posted here again. We are a publicly traded company. Initial Public Offerings (IPO) are for private companies wanting to be listed on an exchange, so they hire a securities firm like Goldman Sachs or any of the many other firms that take private companies public. Yes there is a 40 day quiet period involved for IPO's, but it is not applicable to UNVC.
This following quote comes from a large advisory firm for private companies looking to go public, they have offices on both coasts. I cut and pasted...
"For publicly traded companies, the quiet period refers to the time between the end of a financial quarter and the company announcing financial results. The formal quarter-end quiet period begins at the close of each financial quarter and extends until the company’s earnings call."
Now, that quiet period is for any amount of days 1, 2, 3 days or up to what ever amount, until they put out their financials for that recently closed quarter. Companies have to have financials out within 30 days. If They get the financials out in a week, the quiet period is over. They have to have this quiet period because the CEO obviously knows what the "numbers" look like and they can't speak about it until everyone gets to see the numbers when released.
So as long as Doc does not talk about financial matters concerning UNVC then I don't think he is restricted by any more than he already is because UNVC is legally dark and he has to be careful what he says.
Does anyone have any addition input, it would be much appreciated?
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