Wilson Holdings has filed to come public via an IPO. This is not a massive IPO, because the filing lists up to $66 million raised for filing purposes, but it lists a UNIT rather than share. So it will be one common share and one warrant for five years. The tickers have not been sent, but it will trade on AMEX rather than NYSE or NASDAQ.
Wilson is a land acquisition and residential developer that, so it isn’t the soccer ball that was a makebelieve friend. Its revenues have been from sales of undeveloped parcels of land plus revenue from sales by two-homebuilder customers, whose revenues have been consolidated into its results in accordance with generally accepted accounting standards.
We’ll cover this one down the road as we get closer to the IPO date because of the different nature of the company.
Jon C. Ogg
February 16, 2007