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Persistence Pays

During one of Quarles & Brady’s early IPO transactions, the market crashed in the midst of the deal, so the IPO was put on hold for several months and limped along while the economy regained its footing, allowing us to complete the transaction about a year later. All along the way, the company continued to acquire and divest itself of various assets, so the parameters of the IPO continued to change from month to month until the actual public offering. We were effectively conducting a serial IPO with the same company, whose description continued to change repeatedly, but we managed to keep the deal alive until it could finally be completed.