CIRO Roadshows & Non-Deal Roadshows

Question 1

What is a non-deal roadshow (NDR) in investor relations?

Accepted Answer

A marketing trip conducted by management to meet investors without the purpose of raising capital

Answer

A roadshow held exclusively for retail investors to promote new share issuances

Answer

A regulatory requirement for companies to disclose quarterly earnings to analysts

Answer

A conference organized by the SEC to educate public companies on disclosure rules

Question 2

During an IPO roadshow, who typically leads the investor presentations?

Accepted Answer

The CEO and CFO, supported by the lead underwriter's banking team

Answer

The company's legal counsel and compliance officer

Answer

The investor relations officer acting as the sole spokesperson

Answer

The board of directors and audit committee chair

Question 3

What is the primary purpose of conducting a roadshow in investor relations?

Accepted Answer

To give management direct access to current and prospective institutional investors

Answer

To satisfy SEC disclosure requirements for material events

Answer

To allow analysts to update their financial models with insider data

Answer

To distribute press releases to international media outlets

Question 4

Which document is typically the centerpiece of a roadshow investor presentation?

Accepted Answer

An investor presentation deck covering strategy, financials, and investment highlights

Answer

The company's 10-K annual report filed with the SEC

Answer

The proxy statement detailing executive compensation

Answer

A prospectus supplement filed on Form S-3

Question 5

What is the 'quiet period' as it applies to an IPO roadshow?

Accepted Answer

A period after the IPO during which the underwriter cannot publish research on the company

Answer

The 48-hour media blackout required by FINRA before earnings announcements

Answer

A mandatory silence period required by the SEC before a company files its S-1 registration

Answer

A time when management must cease investor meetings while the SEC reviews the registration

Question 6

How far in advance should an IR team ideally begin planning a major roadshow?

Accepted Answer

Four to six weeks in advance to coordinate management calendars and investor targeting

Answer

One week before the scheduled meetings

Answer

One day before to ensure schedules are current

Answer

Only after receiving written investor requests for meetings

Question 7

Which meeting format is most common during a non-deal roadshow?

Accepted Answer

One-on-one meetings between management and portfolio managers or analysts at institutional investors

Answer

Large group presentations to retail shareholders at public venues

Answer

Press conferences with financial media followed by Q&A

Answer

Panel discussions featuring the CEO alongside industry competitors