American History 1988
Chapter 244 - 237 Going Public!

Chapter 244: Chapter 237 Going Public!

"Are you sure you heard gunshots, Steve?" Gates, who had been ready to go to sleep, had to get up from bed once more.

"Bill, I’m certain!" Steve was still visibly shaken, "It all happened right next to my ear!"

"OK, calm down, Steve, and tell me about the situation at that time." Gates reached for his glasses on the bedside and put them back on.

"Brian called me in the evening out of the blue, wanted to talk about the acquisition..."

Next, Steve gave an overview of what happened, including an unexpected knock on the door in the middle.

"I heard a loud bang, followed by Brian’s cursing, and then intense gunfire.

Yes, I’m certain it was gunshots! They sounded just like what I’ve heard at the shooting range!"

Steve was terrified; as a Microsoft executive, he would never normally come into contact with firearms.

Nor would he ever hear gunshots; they lived in upscale communities, the domain of the wealthy.

Not to mention the idle thugs on the streets, even the homeless were chased far away by the patrolling police.

If there was one place where he might encounter guns, it would only be at the shooting ranges he occasionally visited to unwind.

But this experience, gunfire erupting mid-conversation, was utterly unheard of.

The timing was just too coincidental, Brian had even verbally agreed to their acquisition proposal.

Who would want to stop such a deal at this critical moment? This made Steve think.

So, he called Gates immediately, feeling insecure and afraid.

"Steve, the current situation isn’t clear, it’s best we wait for tomorrow’s news."

This phone call also cast a shadow over Gates’ mind, but he had to reassure his subordinate like this.

"Do we need to call the police, Bill?" Steve had lost his composure, never having gone through anything like this before.

"No, we shouldn’t get involved; let the police handle it," Gates didn’t want Microsoft to be connected to this incident.

Facing police interrogation, if they were to reveal that Microsoft was in business negotiations with Brian at that time.

It would only lead to more attention, after all, a shooting involving Microsoft would always be a hot news story.

Some conspiracy theories might even find a broader audience under the spin of certain reporters.

No matter the outcome, it wouldn’t be good for Microsoft, and Gates knew what to do.

"Bill, tomorrow’s the day Byte Company goes public..." Steve’s mind was frantically linking the two incidents together.

Gates paused, looked towards the pitch-black window, and took an involuntary breath.

"Steve, go take a shower now, and get a good night’s sleep. Forget this incident."

"Alright, Bill, I think I might need to take a couple of days off."

"OK, spend some time with the kids." Gates hung up the phone with a heavy heart.

...

"WTF?! I wanted you to teach him a lesson, not to finish him off!"

Vince was woken up by the ringing of the phone in the middle of the night and then heard this infuriating piece of news.

"I know, Vince, it was an accident." Jerry, making the call from a public phone booth at an airport, kept an eye on the crowds around him.

"So what’s the situation now? I warn you, if things are out of control, I can’t help you much."

Vince definitely did not want to invite trouble for himself; he had plenty of reasons to refuse Jerry’s plea for help.

"I’ve taken care of everything; you know my professionalism, Vince."

Jerry wasn’t too worried because legally his actions could be considered self-defense.

Of course, it would be even better if he could completely clear his association with the incident.

After all, he didn’t have useful connections with the New York police, and it could even lead to the loss of his business license, which was his livelihood.

"Alright, tell me the details of what happened, and I’ll see if I can dissociate you from this whole affair."

Vince’s expertise was in law; he was good at handling such matters.

...

At 7 a.m. on August 26, a procession of Cadillacs and Lincolns pulled up in front of the Nasdaq Stock Exchange in New York.

In late summer, the skies of New York were just brightening at this time, and though it was before working hours, Times Square was already bustling with people.

No sooner had Dean and his entourage stepped out than a barrage of flashes made the street blaze like illuminating flares.

"Mr. Price, can you share how you’re feeling right now?" The swarm of reporters blocked the entrance to Nasdaq.

"It is certainly an exciting moment; I admit I’m quite nervous."

Dean replied to the questions while walking, "It’s uplifting news for everyone who cares about Byte Company."

"What do you think Byte Company’s market capitalization will reach today? Do you have any expectations?"

"Of course, the higher, the better." Dean’s playful remark caused an understanding chuckle among the crowd.

"Mr. Price, will Byte Company’s IPO bring different changes to the sluggish economy?"

"I hope we can give a positive response to the market," Dean patiently answered the reporters.

Meanwhile, the Byte Company executives were busy taking commemorative photos with the giant screens of Nasdaq as the backdrop.

On it, a large Byte Company logo and stock ticker animation were playing on loop.

Today was Byte Company’s big day, so Nasdaq dedicated the entire screen to them.

Dean was frequently pulled into the crowd for group photos, undoubtedly the center of attention here.

With a grin and a thumbs-up, Dean tried hard to make himself look more charming.

"OK, friends, see you later." After half an hour of hustle, he finally bid farewell to the reporters and entered the interior of the exchange.

It wasn’t yet time for the market to open, and Dean was there for the pre-market trading prior to the listing, which is the collective bidding of primary market bulk buyers.

The $18 issued by Morgan Stanley was merely the issue price, and the official opening price after listing would be determined through a round of pre-market trading.

This was Byte Company’s final hurdle before going public. As long as the final trade price was above $18, the IPO could preliminarily be declared successful.

Inside the exchange at this moment, the scene was bustling with activity. The traders darted between counters, making final preparations for the opening.

Aside from traders, there were also many Byte Company employees.

They wore T-shirts with the company’s logo, gathered in a designated area.

"Dean! Dean!" Cheering erupted within the exchange, as the group of young people unleashed an unimaginable enthusiasm.

"Come on!" Dean smiled and waved his fist at them, and they cheered again.

They were Byte Company’s cheer squad, waiting for the 9:30 opening time.

For today’s listing, Nasdaq had agreed to various theme decorations requested by Byte Company.

Like the conspicuous and huge billboard overhead with "BITS" on top and "NASDAQ" on the bottom.

"BITS" was Byte Company’s ticker symbol, ensuring that everyone inside the exchange could see its presence.

Moreover, not only was their billboard overhead, but Byte Company’s logo was also on the counters and walls of the exchange.

Standing in the lobby and looking around, Dean could see the word "BITS" almost everywhere.

"Dean, I believe Byte will become the superstar here today!"

Bernard Madoff of Nasdaq, too, had arrived early for such an important event; he certainly wasn’t going to miss it.

"Byte Company is Nasdaq’s biggest IPO this year; look around, we are all eagerly awaiting its great success!"

"So everybody will support us, right?" Dean smiled and embraced him.

"Of course, the buyers are already in position." Madoff extended his hand to lead the way for Dean and his team.

Nasdaq had prepared a special consulting room for them, where all trades would be completed.

Byte Company’s executives, along with people from Morgan Stanley and Merrill Lynch, were gathered in this small room.

Aside from the computers and themselves, no one else was there; bidding was done through computers.

After all, these bulk buyers were spread all around the globe, and only the internet could bring them together.

"Why isn’t this damned computer moving?" Valentine couldn’t stop staring at the screen while habitually pulling at his temples, white with age.

"Relax, Valentine, the time hasn’t come yet." Durell reassured him, but he, too, quietly clenched his fists.

Byte Company’s pre-market bidding started at 9 AM and ended at 9:20 AM, lasting less than 30 minutes.

Although they had just been delayed outside for a while and then spent over half an hour interacting with Byte Company’s employees in the trading hall,

it was only around 8:30 AM now; at this moment, Morgan Stanley and the others were still calling various investment institutions.

They kept emphasizing that this was the last chance, as Byte Company was about to go public.

The reason they were so eager to sell Byte Company’s stock was that Morgan Stanley and Merrill Lynch hoped to get more people to participate in the bidding.

Merely raising the financing amount would only ensure the success of Byte Company’s IPO.

But the more prospective buyers there were, the more bidders there would be, and the more successful the IPO would become.

In other words, as the bidding started, Byte Company’s market valuation would also rise concurrently.

"We will succeed." Valentine glanced at the time on the wall—it was 8:59!

"Definitely!" Chief Operating Officer Jimmy was breathing heavily.

A minute passed in a blink.

The shares priced at $18 each had already been thrown into the market by Morgan Stanley and their ilk through various means.

The large investment banks that had already signed the subscription intention letters cleaned out this portion of issued shares immediately.

Soon, the numbers began to flicker and change on the consulting room’s computer screens.

"What does this mean now?" Truth be told, this was Dean’s first IPO experience, and he didn’t understand these professional numbers.

"Oh!" Valentine ignored his question, "Eighteen bucks, this is the first buy order!"

But he soon widened his eyes in disbelief, "Twenty bucks, and it’s still only buy orders, no sell orders!"

Durell couldn’t contain himself either. He dashed forward and nearly knelt in front of the computer screen,

"Twenty-two bucks! Twenty-three bucks, twenty-five bucks..."

Buzz, everyone swarmed around the screen.

Bang! Bang! These were the sounds of everyone’s heads banging together, but no one cared.

"Is it still going up?!" Dean held his head, anxiously staring at the computer screen.

"Shit! Twenty-eight bucks! We set our issue price too low!" Valentine lamented and cursed fiercely.

"Won’t anyone sell? Damn it!" Richard from Morgan Stanley also bit his fist in regret.

The primary market was making a killing, but Morgan Stanley’s profits would not see any significant growth anymore.

Thump! Just then, Byte Company’s Chief Operating Officer, Jimmy, fainted on the spot...