OpenFollowOn: How It Works

How It Works

OpenFollowOn is an Internet-based platform for auctioning follow-on offerings to both individual and institutional investors. Institutional investors participate directly in the online interactive auction. Individuals participate by placing bids prior to the start of the auction through their broker. OpenFollowOn creates a transparent new issue market and offers all bidders equal access to securities.

You must have a brokerage account with WR Hambrecht + Co or a participating dealer to participate in OpenFollowOn auctions. New brokerage accounts can be opened online.

How to Participate

Individual investors may phone in bids by calling 1-800-673-6476 at least one hour prior to the start of the online auction. Individual Investors do not participate in the interactive online auction directly. Successful individual bidders will receive shares at the price determined by the auction.

After the auction is completed, a customer service representative will contact you with the results and details. Results will also be posted on our web site. Settlement for the purchase is regular way, or three days after you have been confirmed as a successful bidder.