Education Case Study
Situation
A leading subscription-based online education company retained ICR in October 2009 to lead IPO preparation, execution, and ongoing investor relations.
Strategy & Tactics
During the IPO preparation stage, ICR assisted in the drafting of the Company's financial model, disclosure and communication policies with analysts and investors, and internal communication with employees. ICR then helped the Company prepare for the road by creating an IPO Roadshow Video, assisting in the drafting of the roadshow presentation slides, creating the roadshow scripts, and working extensively with management on Q&A.
Our close relationship with the investment community enabled us to communicate regularly with analysts and bankers and provide timely feedback to management. We formulated scripted answers to difficult questions around bigger issues, such as national standards, budget environment, stimulus funds, and NCLB reauthorization.
Post-IPO, ICR continued to support the company with quarterly earnings preparation, investor targeting, and positioning.
Results
ICR's efforts were critical to improving key-influencer opinions, primarily sell-side and industry research analysts. These views were used as third-party sources in the business, financial, and trade media. Consequently, the Company's IPO priced slightly above the midpoint of filing range; their stock was up 15% on the first day of trading, and 9% over the first two months of trading.