Collection of Data: Rapid Fire

What this video covers

• The five source categories (commercial databases, proprietary deals, regulatory filings, company sites, and media) and how they funnel into the five analyses from industry trends down to precedent transactions
• Why precedent transactions produce higher multiples than trading comps: the control premium baked into past M&A deals
• How filer status is determined by public float thresholds (large accelerated $700M+, accelerated $75M-$700M, non-accelerated under $75M), never by revenue
• The Exchange Act filing clocks: Form 8-K at 4 business days, initial Schedule 13D or 13G at 5 business days, Form 13F quarterly within 45 days, and insider Forms 3, 4, 5 at 10 days, 2 business days, and 45 days post-fiscal year end
• The active vs. passive ownership distinction at 5% (Schedule 13D for dealmakers, 13G for passive investors below 20% with no control intent) and the strict 1% materiality trigger for amendments
• Form 13F restrictions: SEC-listed long positions only, no shorts, no cash, no most derivatives, measured on the last trading day of any month
• The strict liability nature of short-swing profit recovery for insiders (officers, directors, more than 10% beneficial owners): six-month window, no intent defense, no MNPI defense
• The information barrier between banking and research: permitted client verification and reading published research, prohibited supervision of analysts, pitch participation, and compensation tied to banking revenue
• Quiet period differences: IPO binds all underwriters and dealers for 10 days, secondary binds only managers and co-managers for 3 days