To: Sarkie who wrote (502 ) 11/12/1999 3:45:00 PM From: Roger Sherman Read Replies (2) | Respond to of 2437
Re: The CHTR IPO "Quiet Period" I was never really clear about all this "quiet period" stuff so I called my broker for a brief explanation. What he said (after checking with someone else) is the following: There are TWO QUIET PERIODS when an IPO's underwriters cannot issue any recommendations. FIRST "QUIET PERIOD": Begins on the SEC IPO "filing" date (July 28th for CHTR). This period continues until the IPO's "Prospectus" is published (called the "Red Herring" because it's titled in red ink or something), and usually is a couple of weeks before the IPO is "priced". During that period they can only talk about information contained in the "Prospectus." SECOND "QUIET PERIOD": Begins when the IPO is priced I believe (perhaps when it opens on the market, usually a day later). This "quiet period" continues for 30 calendar days before the underwriters can "rate" the stock. If my finger-counting is correct, approx. December 8th is the soonest that we will see any "analysts" give a recommendation for CHTR. The one question my broker really didn't answer to my satisfaction, is WHY does the SEC require these two "quiet periods"? Can anyone help me with that question? And I'm not sure how this "quiet period" would effect the other "Broadband Partners" (CHTR, GNET, HSAC, RCNC) regarding any news they can release regarding their plans. Can anyone comment? If anyone has any corrections, additions, and/or deletions to any the the above stuff I would appreciate any feedback you can offer. I try to learn a little something new every day about this stock market game. Good luck to all! Roger #NINERfortyNINER PS. Given the "quiet period" for CHTR ending next month, IMHO WhyTwoK should start off as REALLY HAPPY new millennium for us all "long" CHTR investors who got early this week! PPS. I'm trying to have a "quiet period" myself at the moment, but not having much luck yet.