INDUSTRY: Life Sciences & Biotechnology
Non-U.S. domicile with U.S. publicly-listed company created a need for U.S.-based CFO role and U.S. finance presence for global expansion.
A non-U.S. domicile with U.S. publicly-listed company created a need for U.S.-based CFO role and U.S. finance presence for global expansion. At the beginning of the engagement, the company had a single division with a single technology in cell therapy. Over the following three years, the company acquired a revenue-generating manufacturing facility and entered into numerous strategic partnerships and joint ventures in order to expand its reach into other cell therapy technologies. Furthermore, the manufacturing facility was doubling in revenue and scaling. Finally, the company was experiencing turnover in finance staff capable of adapting to the growth and complexity of the business.
“While operations were non-U.S.-based, being publicly-listed in the U.S. required a U.S. finance presence. This was essential for finance, SEC compliance and investor relations.”
STRATEGY & COURSE OF ACTION
To address the rapid growth of the organization, an expansion of the company’s personnel, capital and visibility to investors was necessary. Eventus would help the organization establish a stable U.S.-based accounting and finance presence, provide an interface with potential investors and build a stable financial infrastructure. All of this was executed with the goal of listing to a national exchange.
The company listed onto Nasdaq in March 2018. Eventus is continuously utilized to manage the SEC reporting, establish a stable U.S.-based accounting and finance presence and to provide the necessary interface with investors as the company gained further visibility within the public markets. Eventus currently remains in this capacity, along with continuing support of the executive team as the company continues to scale.