The Offering Process at DLJdirect and How to Participate in DLJ IPOs
Source: dljdirect.com
Submitting an Indication of Interest
Qualified investors may indicate their interest in participating in new offerings
by submitting an Indication of Interest (IOI) form online, or by calling the
DLJdirect Syndicate Department at 1.877.DLJ.4IPO (1.877.355.4476). The
online form is located with the information on each specific issue in the
"Current Offerings" area. A link to an offering's preliminary prospectus is
available in this area and you must confirm that you have read it before
proceeding. You may also request to have a preliminary prospectus sent to
you by US Mail. You will then be asked to indicate the number of shares for
which you would like to submit your Indication of Interest.
Please be sure to provide the best e-mail address and phone number to
contact you with information about the offering when completing the Indication
of Interest. If we are unable to contact you, you may not be able to participate
in the allocation process. We will send you an e-mail to confirm that we have
received your completed Indication of Interest and inform you of the
anticipated pricing date. You may also check on the status of your Indication
of Interest in the "Status" section of the "Current Offerings" area (the "Status"
section). If you only supply us with a telephone number, we will not contact
you until the offering is priced.
Please keep in mind that submitting an Indication of Interest does not
guarantee that you will receive shares in the offering.
Certain investors, such as bank officers and other individuals in the finance
industry or their families, may be unable to participate in certain new offerings.
See qualifying criteria for more information.
Changing an Indication of Interest
You may change or cancel your Indication of Interest until the offering is
priced by returning to the Web site, accessing your original Indication of
Interest, and changing the relevant information. After the offering is priced, you
may change your Indication of Interest through the Reconfirmation process
only. Remember to check the "Current Offerings" area for the expected pricing
date. We will also send you an e-mail to inform you of the expected pricing
date.
To cancel your Indication of Interest, simply enter "0" as the number of
shares. We will not accept additional Indications of Interest once the offering
has been priced. Refer to "Current Offerings" for details on each offering.
Pricing
If DLJdirect has accepted your Indication of Interest, we will send you an
e-mail the day before the anticipated pricing date informing you that we expect
that the offering will be priced the following day. We will also notify you — by
the method(s) specified in your Indication of Interest — when the offering has
been priced. The notification will inform you of the price of the issue and the
deadline by which you must reconfirm your Indication of Interest.
Reconfirmation deadlines are stated in Eastern Standard Time.
The Allocation Process
Once the SEC has declared an offering effective and the offering has been
priced, the Allocation Process may begin. To participate in the allocation
process, you must then reconfirm your Indication of Interest. By
reconfirming, you are stating that you are still interested in receiving the
shares for which you originally submitted an Indication of Interest. If we do not
receive your Reconfirmation by the deadline noted in the pricing
communication, we cannot guarantee that you will be able to participate in the
allocation process. To reconfirm your Indication of Interest, follow the
instructions given in our e-mail or voice message to you, or return to the
"Current Offerings" page and click on the name of the company for which you
submitted an Indication of Interest, then choose "Reconfirm Indication of
Interest." On the Reconfirmation page, you must confirm that you have read or
accessed the final prospectus. If you have not read or accessed the
prospectus, you may do so from a link that will be available on the same
page.
You will be able to change the number of shares for which you would like to
reconfirm interest by entering a different number in the "shares" box. If you are
no longer interested in participating in the allocation process, enter "0" in the
"shares" box. You will have a final opportunity to change the number of shares
or cancel your participation in the allocation process entirely before you send
your Reconfirmation. Please keep in mind that a Reconfirmation of an
Indication of Interest constitutes a firm order. However, Reconfirmation
is not a guarantee that you will receive shares.
In the next step of the process, the DLJdirect Syndicate Department will
allocate the number of shares it was allotted in the offering to clients who have
reconfirmed their Indications of Interest. DLJdirect will try to satisfy our clients'
interest in offerings in which we participate, but often we are unable to obtain
enough shares from the lead manager to meet demand. In cases where
demand exceeds supply, we will allocate the available shares taking into
account a number of criteria. Such criteria will include, but not be limited to,
the following: client assets held at DLJdirect, activity, tenure as a DLJdirect
client, and post-offering activity in previous new issues. It is not the policy of
DLJdirect to allocate stock on a first-come, first-served basis, and the time
your Indication of Interest is received will not influence the allocation decision.
Final Notification
If we receive a Reconfirmation of your Indication of Interest, and you are
allocated shares in the offering, that allocation will be reflected in the "Status"
section of the "Current Offerings" area (note: it may take up to 48 hours for the
purchase to be reflected on your Portfolio Holdings screen). The "Status"
section will reflect an allocation of "0 Shares" if you did not receive shares.
We will also send you an e-mail to confirm your allocation or to notify you that
you did not receive an allocation of shares. A confirmation and the final
prospectus (under separate cover) will be sent to you by US Mail. The SEC
requires that stock transactions settle by the third business day following the
trade date; you must pay DLJdirect for your allocation of shares by the third
business day after your purchase.
Contact Information
If at any time you have a question about the DLJdirect IPO Center or any other
questions about the offering process at DLJdirect, please send an e-mail to
service@DLJdirect.com or call the DLJdirect Syndicate Department at
1.877.DLJ.4IPO (1.877.355.4476).
© 1999 DLJdirect, Inc. All Rights Reserved. Member SIPC and NASD.
|
