ICR News & Insights

It’s been said that knowledge has value only when it’s shared. So we’re happy to give you access to some of our best thinking, grounded in our observations, analysis and understanding of the issues that we’re all facing. We hope you find them of value to you and your organization.

03.31.20

Capital Raising for Public Companies in the Wake of COVID-19: Exploring PIPE Transactions

By ICR

The shutdown in economic activity across a wide range of industries as a result of the COVID-19 pandemic has put severe financial pressure on many public companies. In many cases, this will result in the need to raise additional capital. Public companies have several options for raising primary capital. One transaction that can be effected relatively quickly, and that has become more mainstream over the last decade is a Private Investment in Public Equity (PIPE)....

03.30.20

How to Transition to Virtual Shareholder Meetings During the COVID-19 Pandemic

By ICR

As the COVID-19 pandemic continues, public companies are needing to adapt to new ways to conduct normal business in a virtual world, including holding annual meetings, investor days, participating in investor conferences and outreaching to new investors. As we all adapt to this new current reality, we wanted to provide some advice and resources on how to optimize these activities. Benefits of Virtual Shareholder Meetings and Investor Days While face-to-face meetings can promote relationship-building, virtual...

03.30.20

Adopting Activist Defenses Following Share Decline Due to COVID-19

By Phil Denning & Lyndon Park

The sudden stock market collapse has had broad and immediate implications across the economy and the capital markets. One area that many companies are focused on is the potential for increased shareholder activism, or even unsolicited proposals, due to severely depressed share prices. Although the number of shareholder activist filings (13-Ds) are down year-over-year since the COVID-19 outbreak, we are seeing a pattern where activists who have had a prolonged ownership or those with strong...

03.28.20

How to Handle Media Relations During the COVID-19 Pandemic

By ICR PR Team

We are all operating in uncharted waters as the COVID-19 pandemic has upended social norms and fundamentally altered how companies communicate with their stakeholders. It has also significantly impacted one of the primary channels through which individuals get and companies deliver information: the news media. The airwaves and internet are overwhelmed with endless coronavirus content, which raises many practical questions for companies and organizations about if, how, when and under what circumstances they should be...

03.26.20

Suspending or Reducing Dividend Payments in Response to the COVID-19 Pandemic

By ICR Investor Relations Team

As of March 26, 2020, at least 71 publicly listed companies have adjusted their dividend policies — predominantly consumer discretionary companies (23), REITs (22), energy companies (11) and industrial (7) companies — and 51 of the 71 companies have suspended their dividend payments outright. While this is a difficult and consequential decision for companies, primarily because shareholders count on these quarterly distributions to increase their total return, challenging times often require difficult decisions. In crisis...