Fannie Mae-No Politics (FNMA)

[imtheshadow]

Yanks,an IPO (or any other raise) is a CASH event. If a firm raises $100M net, the entry is (assuming 100M shs of common at $.001 par):

Assets:
Debit: $100.0M Cash (net proceeds after underwriter fees, etc.)

Equity:
Credit: $ 99.9M Paid-in-Capital (net proceeds less par value x # of shs)
$ 0.1M Common Stock (par value x # of shs)

So Assets = Liabilities + Equity
$100M = Liabilities + ($99.9M + $0.1M)

As others have said, you can't record against cash unless you receive or disburse actual cash. That's it; no exceptions.