The press likes Martin Tobias, the founder and top executive of Loudeye Technologies (formerly encoding.com), probably because he’s quirky and full of vim and vigor. So we weren’t all surprised to see Tobias interviewed on dbusiness.com re the AOL-Time Warner merger. After all, both these media giants are Loudeye customers and/or investors.
What did surprise us was what Tobias said:
“I think this will accelerate our business,'” Tobias told dbusiness.com on Jan. 11, 2000. “I think this is probably one of the best things that could happen to us.”
Ray Bolger, the dbusiness.com reporter, then went on to say that Loudeye is “planning a $57 million initial public offering.”
The fact is, Loudeye filed an S-1 form for an IPO on Dec. 22, 1999. So doesn’t that filing make Loudeye subject to the “quiet period” restriction that applies to IPOs?
Here is the definition of quite period:
“This period starts once a company has filed its S-1 or SB-2 form with the SEC and extends 25 days after the company’s stock has started trading on the open market. During this time, the company and Syndicate [the underwriters, etc.] are prohibited from making any statements which are not included in the Prospectus. That is, the company may not say or do anything which might affect the IPO or the stock’s performance in the Aftermarket.”
Soula Jones is Content Chief at Seattle24x7.com