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Lost In The Wilderness
I would like to point out an error in the IPO Monitor (Investing in Growth Companies, November 1981). Wilderness Experience went public in April with an initial securities offering of 550,000 units. Each unit consisted of three shares of stock and two 30-month warrants. The offering price of these units was $3. Your IPO Monitor shows the offering price and the initial public bid of 3 1/8 correctly. The OTC symbol of the units was WLDRU.
In July the units were split and are now traded separately as shares of common stock or as warrants. There are two new symbols, WLDR for the common stock and WLDRW for the warrants. The September 3, 1981, bid of.563 listed in the IPO Monitor was for the shares of common stock only. The actual bid for the units was 2 3/4, a decrease from the initial public trade price of 12%, but not nearly so bad as the 75% decrease you listed.
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