April 7, 1997 Contact Pauline Austin (541) 346-3129 EUGENE--When Eugene-based Obie Media Corp. decided to embark on a rapid national expansion, the firm successfully generated a $7-million-cash infusion within hours of its first public stock offering. The secret of their success will be revealed at a free public presentation at 1:30 p.m. Friday, April 11, in Room 129 of the University of Oregon Law Center, 1101 Kincaid St. The UO Law and Entrepreneurship Student Association is sponsoring the two-hour presentation by Obie Media's team of accountants and lawyers, "Raising the Stakes: A Case Study of Obie Media." "This case study provides a unique opportunity for students, faculty and members of the community to explore the intricacies of a complex business transaction," says student association coordinator Tom Tongue. It's important to foster and develop strong relationships between the legal and entrepreneurial communities, he adds. Chief Executive Officer Brian Obie said he took the firm public to find the outside investors the firm needed to finance a national expansion. Obie Media Corp. leases advertising space on buses and billboards. "The opportunity to go public arose in the summer of 1996, two years before we expected to take on that project," says Jim Callahan, chief financial officer for Obie Media Corp. A national stock offering was a long-range goal of Obie Media, but after other outdoor advertising companies went public last August, the company needed to move the plan onto the fast track to stay competitive. The chief hurdle was the short timeline that the company had to complete all paperwork before the Thanksgiving 1996 target date, Callahan says. The firm had less than three months to put together a mountain of audited financial statements and to reshape its corporate structure. "We began by assembling an experienced team," Callahan says. "We needed counsel experienced with the Securities and Exchange Commission (SEC). Fortunately, we already had an underwriter on board, along with accountants who had SEC qualifications." A panel of business and legal experts will explain the ins and outs of the deal. Panel members include Callahan; Carol Hibbs, legal counsel with the law firm of Tonkon, Torp, Galen, Marmaduke & Booth of Portland; Scott Sandbo, director of corporate finance, Pacific Crest Securities; Dave Baca, legal counsel with the law firm Davis, Wright, Tremaine of Portland; and Larry Brown, partner with Coopers & Lybrand, also of Portland. The student association provides avenues for student involvement in the Law and Entrepreneurship Center at the UO School of Law. Founded in 1994 through a $1 million gift from Eugene businesswoman Carolyn S. Chambers, the center provides a forum for interaction, exchange and education between students and professionals in the Northwest business and legal communities. For more information, contact the UO Law and Entrepreneurship office, (541) 346-3994. -30- #P-6061/Local,OrDailies,SBUS,OrLaw