Pre-IPO grade-score summary

. Many IPOs in today's environment are graded C+ and scored 7

. If the pre-IPO grade is below C+ or the score is below 7,
then our analysts may have some concerns about the company's
outlook and/or its market segment

. If the pre-ipo grade is above C+ or the score is above 7,
then our analysts believe the company's overall business outlook
is more favorable