art of going public
The Art of Going Public On April 25, 2007, Superior Offshore International, Inc. (SOI) completed its Initial Public Offering (IPO) of 11,691,667 shares of common stock, par value $0.01 per share, including 3,025,000 shares sold by selling stockholders, as described in its Registration Statement on Form S-1 (Registration No. 333136567) and the related final prospectus dated April 19, 2007 filed with the SEC under Rule 424(b) of the Securities Act of 1933. The shares sold by the selling stockholders included 1,525,000 shares subject to the underwriters’ over-allotment option, which was exercised in full.
NASDAQ GLOBAL MARKET - DEEP
SUPERIOR OFFSHORE INTERNATIONAL ENTERS THE STOCK MARKET WITH MOMENTUM A Discussion with Executives Josh Koch, General Counsel, Secretary, and Director, and Roger Burks, Chief Financial Officer About the Art of Going Public
16 THE MARITIME EXECUTIVE
Superior Offshore International (SOI) became a publicly-traded company on April 25, 2007 (Nasdaq: DEEP). The offshore subsea company entered the stock market with a lot of interest and momentum due to its financial savvy, preparation, and timing. MarEx’s May 2007 edition introduced Louis Schaefer, Chairman, and Jim Mermis, Chief Executive Officer, and their innovative company (which is also building the Superior Achiever, a $135million, multi-purpose subsea vessel due to be delivered in 2008) to our global readership. While executives contemplating going
public might find the due diligence and internal auditing process overwhelming, if not downright exhaustive and intrusive, the shared experiences of two key members of SOI’s IPO team might provide a little encouragement and solace to those facing a Mount Everest of Security Exchange Commission (SEC) compliance rules. Josh Koch, General Counsel, Secretary and Director, and Roger Burks, Chief Financial Officer (CFO), are recent veterans of the arduous IPO process. MarEx caught up with these two busy executives to get a better spin on going public.