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04mystic, this is my layman advice, based on what I have seen at InfoSpace going public.
You probably need some very solid people in your company:
- Chief Financial Officer
- Top notch inhouse legal counsel
- Eloquent CEO.
You'll have to write up hundreds of pages of legal material for the prospectus, and keep that updated quarter to quarter until you go public.
The market royally stinks, I don't think now is the good time to go... November or later, maybe, only if things look better. But don't worry, you'll need a good 6mo to prepare things if this is your first time, so you'll probably shooting for March 09 or something.
You'll need to find investment bankers ready to go along with your story and be the underwriters of your offering. People like UBS.
Then you'll go on a grueling -I mean insane- road show for 2 weeks and meet with dozens of investors to sell your company and your story.
Your company bette be good, with good management and a great story, otherwise you might be better off enjoying the peace of being private.
Private companies call their own shots.
Once you're public, it's the big circus. People stick their nose in your business all the time because it's now their business too. The smallest crap can take epic proportions.
Excitement and momentum can make your stock rocket up, and then when it falls down -laws of gravity- people will flee and you're fucked.
I recommend you think long hard. Going public is a major headache, and a big gamble.
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