This document provides information about Midtown Partners, an investment banking firm that specializes in private investment in public equities (PIPEs). It discusses Midtown Partners' leadership in PIPE placements according to industry rankings. It also summarizes the firm's founding, services, and focus on working with small to mid-sized companies. Finally, it outlines some of the key differences between PIPE financings and secondary offerings.
WHAT PRIVATE EQUITY CAN LEARN FROM PUBLIC COMPANIES (Falls Communications)Rob Berick
This document discusses three issues confronting private equity firms today - differentiation, transparency, and succession planning - and how adapting approaches used by public companies could help private equity firms address these issues. It notes that private equity firms need to better explain their strategies, capabilities, and how past successes will continue. Firms also must balance new regulatory transparency requirements with providing investors more timely insights. Finally, succession planning is challenging for private equity firms given their reliance on personalities, so new leaders need introduction. Public companies face similar investor demands that private equity could learn from.
2010 Middle-Market M&A Review and OutlookRobert Roose
The document discusses trends in the middle-market M&A environment in 2010. It notes that while leading economic indicators improved in 2009, deal activity suffered in Q1 2010 due to increased uncertainty. Transaction volume and value decreased across large mega-deals and in the national and Massachusetts middle-markets. However, healthcare and software deals dominated in Massachusetts. The document outlines areas of potential growth in the lower middle-market, including divestitures and increased activity by private acquirers.
The financial crisis was tough on asset-backed lending funds, and a spate of redemptions saw the space shrink considerably. But the launch this year of a new $1bn fund from FrontPoint Partners suggests that direct lending and ABL is making a comeback, and, due to the restrictions of Dodd-Frank, the space offers a wealth of opportunity for smaller niche players.
This is the deck from PeerRealty's October 8, 2015 webinar on the Ameritus Real Estate Fund, our latest real estate crowdfunding offering. Visit http://resources.peerrealty.com/ameritus-real-estate-fund-webinar-video to view the replay of this webinar.
The document discusses several challenges and opportunities facing global securities firms. It notes that while last year's results were good, the industry faces evolving businesses that require new strategies. Successful firms will serve both large companies seeking strategic advice and the growing middle market. They will also adapt to changing relationships with large clients, financial sponsors, and hedge funds as private and public boundaries blur. Firms will need new models to serve sponsors and uncover investment opportunities, while also advising companies on private vs. public financing options. Overall the industry faces pressure to develop innovative solutions across client segments.
Detailed overview of First Data's IPO including its funding history, business operations, financial performance, public company comparables and relevant industry transactions
In Depth: Asset Backed Lending And Hedge FundsLisa Krow
Stillwater Capital Partners manages three hedge funds and a private equity real estate fund that have all achieved double-digit returns with low volatility. Their asset-backed lending fund makes short-term bridge loans secured by real estate, personal injury law firms, and life insurance policies. The loans allow borrowers to access cash quickly when traditional lenders take longer. Stillwater mitigates risk by ensuring adequate insurance on properties and getting two independent appraisals. They also secure law firm loans with expected future case settlements. The asset-backed fund of funds invests in managers pursuing similar lending strategies and verifies assets with an independent auditor.
- Private investment counsel, which provides personalized portfolio management services, was traditionally only accessible to investors with portfolios over $1 million. However, declining costs of technology and the rise of ETFs have allowed some firms to lower their minimums to as little as $100,000. This has democratized access to private investment counsel services.
- While still not widespread, some brokerages and independent advisers are now serving clients below $500,000. Technology has significantly reduced the back-office costs required to manage smaller portfolios. ETFs also allow effective diversification with fewer holdings.
- Private investment counsel provides a personalized approach with a dedicated portfolio manager, unlike mutual funds where investors don't interact with the
WHAT PRIVATE EQUITY CAN LEARN FROM PUBLIC COMPANIES (Falls Communications)Rob Berick
This document discusses three issues confronting private equity firms today - differentiation, transparency, and succession planning - and how adapting approaches used by public companies could help private equity firms address these issues. It notes that private equity firms need to better explain their strategies, capabilities, and how past successes will continue. Firms also must balance new regulatory transparency requirements with providing investors more timely insights. Finally, succession planning is challenging for private equity firms given their reliance on personalities, so new leaders need introduction. Public companies face similar investor demands that private equity could learn from.
2010 Middle-Market M&A Review and OutlookRobert Roose
The document discusses trends in the middle-market M&A environment in 2010. It notes that while leading economic indicators improved in 2009, deal activity suffered in Q1 2010 due to increased uncertainty. Transaction volume and value decreased across large mega-deals and in the national and Massachusetts middle-markets. However, healthcare and software deals dominated in Massachusetts. The document outlines areas of potential growth in the lower middle-market, including divestitures and increased activity by private acquirers.
The financial crisis was tough on asset-backed lending funds, and a spate of redemptions saw the space shrink considerably. But the launch this year of a new $1bn fund from FrontPoint Partners suggests that direct lending and ABL is making a comeback, and, due to the restrictions of Dodd-Frank, the space offers a wealth of opportunity for smaller niche players.
This is the deck from PeerRealty's October 8, 2015 webinar on the Ameritus Real Estate Fund, our latest real estate crowdfunding offering. Visit http://resources.peerrealty.com/ameritus-real-estate-fund-webinar-video to view the replay of this webinar.
The document discusses several challenges and opportunities facing global securities firms. It notes that while last year's results were good, the industry faces evolving businesses that require new strategies. Successful firms will serve both large companies seeking strategic advice and the growing middle market. They will also adapt to changing relationships with large clients, financial sponsors, and hedge funds as private and public boundaries blur. Firms will need new models to serve sponsors and uncover investment opportunities, while also advising companies on private vs. public financing options. Overall the industry faces pressure to develop innovative solutions across client segments.
Detailed overview of First Data's IPO including its funding history, business operations, financial performance, public company comparables and relevant industry transactions
In Depth: Asset Backed Lending And Hedge FundsLisa Krow
Stillwater Capital Partners manages three hedge funds and a private equity real estate fund that have all achieved double-digit returns with low volatility. Their asset-backed lending fund makes short-term bridge loans secured by real estate, personal injury law firms, and life insurance policies. The loans allow borrowers to access cash quickly when traditional lenders take longer. Stillwater mitigates risk by ensuring adequate insurance on properties and getting two independent appraisals. They also secure law firm loans with expected future case settlements. The asset-backed fund of funds invests in managers pursuing similar lending strategies and verifies assets with an independent auditor.
- Private investment counsel, which provides personalized portfolio management services, was traditionally only accessible to investors with portfolios over $1 million. However, declining costs of technology and the rise of ETFs have allowed some firms to lower their minimums to as little as $100,000. This has democratized access to private investment counsel services.
- While still not widespread, some brokerages and independent advisers are now serving clients below $500,000. Technology has significantly reduced the back-office costs required to manage smaller portfolios. ETFs also allow effective diversification with fewer holdings.
- Private investment counsel provides a personalized approach with a dedicated portfolio manager, unlike mutual funds where investors don't interact with the
Tips for Improving Cash Flow from Deloittstephpatl
This presentation offers valuable tips for business owners and financial executives to better manage your company\'s assets and raise capital in a changing economy. You\'ll learn new strategies for conserving cash, diversifying funding sources, and retaining talent -- all from a new Deloitte special report. Find out how to develop a "new mix" of capital to finance your company, and hear other tips for reducing costs and accelerating business growth.
DealMarket DIGEST Issue 140 // 09 May 2014CAR FOR YOU
This document provides a summary of recent news and deals in the private equity industry:
- M&A activity in the Middle East increased in Q1 2014, with the top deal being a $700 million acquisition in Qatar. Foreign investment in the region also significantly increased.
- German fire safety company Minimax is being sold to private equity firms in a potential $1.8 billion deal.
- Large tech companies like Yahoo and Google led the US in M&A deals in 2013, paying high multiples for acquisitions in their pursuit of technology dominance.
- Sovereign wealth funds and family offices have increasingly been investing directly in the European venture capital market in large deals.
- Fundraising
Pyatt Broadmark Real Estate Fund I Presentation Oct 2015Alan Chu
This document provides an overview of the Pyatt Broadmark Real Estate Lending Fund I (PBRELF I). PBRELF I invests in short-term, first lien loans secured by real estate projects in the Pacific Northwest. The goal is to provide high-yield returns while minimizing risk. PBRELF I has $136.4 million in assets under management. It offers diversification, consistent performance, and monthly distributions to investors.
Investor relations or stock promotion involves the dissemination of information about a public company to increase its stock price and/or trading volume.
The person who publishes this information is sometimes referred to as a “Stock Promoter”, “Investor Relations Provider” or “Stock Tout”.
Fundamental Global | Some Investors Wonder if Mellon Financial Is Being All I...Fundamental Global
Mellon Financial has in recent years undergone a makeover, transforming itself from a slow-growing mid-Atlantic bank into an asset management giant.
Over the last six years, it has shed its consumer banking businesses and grown its money management units, which rake in hefty fees. But some say that Mellon remains one of the banking industry's ugly ducklings still waiting to blossom.
Lending Club aims to increase business loans issued by 25% in Q1 2016 through a digital marketing strategy. This includes content marketing like a blog, email marketing targeting different customer segments 2x/week, and social media like LinkedIn to target entrepreneurs, Facebook to learn about customers, and Twitter for feedback. Search engine optimization and paid search will target keywords like "small business loan calculator". The goal is to acquire new customers, increase brand awareness, and provide helpful resources to small businesses.
Pyatt Broadmark Real Estate Fund I Fact Sheet Sept 2015Alan Chu
The portfolio currently holds 141 active loans totaling $159.3 million, secured by $275.3 million in collateral. 182 loans have been repaid totaling $106 million, secured by $180.9 million in collateral. The Pyatt Broadmark Real Estate Lending Fund I is an evergreen fund that provides short-term loans secured by real estate in the Pacific Northwest, with a focus on high monthly returns while minimizing risk of loss. Prospective investors should be aware of risks including potential loss of principal, liquidity, interest rates, and income.
07.19.2018 Understanding the Sell Side M&A Process for a Private CompanyExpert Webcast
Major Topics:
M&A market overview
Corporate and shareholder readiness
Assembling the deal team
Legal issues
Investment banking process
Types of buyers
Deal structures
Due diligence
Capitalizing on “hidden” assets – life insurance
Tax and other incentives available
M&A insurance
JPMorgan Chase & Co. is the largest bank in the US and 2nd largest financial institution globally. It was formed in 2000 through the merger of Chase Manhattan Corporation and J.P. Morgan & Co. The company has over $2 trillion in assets, 258,965 employees in over 50 countries, and provides financial services as well as credit, investment banking, asset management, and private banking services to corporations, governments, institutions, and individuals worldwide.
Montello Real Estate Opportunity Fund Summary InfoMontello
The Montello Real Estate Opportunity Fund is advised by Montello Capital Advisors Limited (“Montello”), part of the Montello group, which is one of the leading real estate financiers in the UK.
Reasons behind criminal probes facing jp morgan investigatingDIPESH30
This document provides an overview and analysis of the criminal probes currently facing JP Morgan. It explores three major issues contributing to the probes: the sale of mortgage-backed securities, new business deals won, and unclaimed property issues in several states. The document recommends establishing clear measures for buying/selling securities, an ethics committee, and measures to track company assets/properties. It conducts a SWOT analysis of JP Morgan and a PESTLE analysis of its external environment to examine the current situation and make recommendations. The overall goal is for JP Morgan to address the probes in a systematic way to avoid further legal issues and encourage integrity in its operations.
SPE Mention - Executing a Deal Road Show - IR Magazine - 2013 DecemberSteve Eschbach
The document discusses the important role that investor relations (IR) can play in a company's deal road show when raising capital or announcing a transaction. It recommends that IR become actively involved early in the process to provide insights about shareholders and help develop road show materials. IR knows the company's shareholders better than anyone else and can help banking partners understand which investors may be interested. The document also stresses that IR should prepare executives for a variety of questions during road show meetings and help ensure transaction rationales fit with the company's existing story.
Detailed overview of LendingClub's IPO including its funding history, business operations, financial performance, public company comparables and relevant industry transactions
Integrating Investor Relations Internally - ABF Investor Relations ConferenceKenny Ong
Integrating Investor Relations internally
*Importance of involving employees’ participation in the Investor Relations programme
*Management’s leadership and transparency in promoting and enhancing employees’ cooperation in building corporate values
*Constant interaction as continuous improvement and enforcement in creating shared corporate values
The document discusses the state of the liability-driven investment (LDI) landscape in the UK and US markets. In the UK, there are currently 14 providers but the market may be oversaturated, while in the US the demand for LDI strategies still outstrips the supply. Some feel there needs to be more customized solutions available in the US rather than just extending duration. Established UK providers believe the market has enough capacity already and that new entrants could be detrimental, but others see benefits to increased competition.
This document provides an analysis of JPMorgan Chase & Co., including an overview of its business segments and the risks it faces. JPMorgan Chase has four main business segments: consumer and community banking, corporate and investment banking, commercial banking, and asset management. It faces various risks like credit, market, operational, and reputational risk. The document also discusses how JPMorgan Chase measures and protects itself against these risks, as well as the various regulators that oversee the company.
Demand for alternative assets remains strong as investors and plan sponsors seek asset diversification, higher yields, and uncorrelated returns. As a result, alternatives are a clear bright spot in the asset management industry. Despite significant headwinds, successful alternative asset managers are growing while many traditional asset managers have or are considering moving into the space. A similar trend is playing out among investment service providers -- traditional servicers are expanding their capabilities to include alternatives. As demand grows for alternative assets, a new FinTech ecosystem is developing to help investors, investment managers, and service providers to access new asset classes and manage their investments and operations with new data, software, and platforms.
J.P. Morgan has a 200+ year history as a leading financial institution. It provides services across investment banking, sales and trading, asset management, and corporate banking. After mergers over the decades, it is now one of the largest banks in the U.S. by assets. The document outlines J.P. Morgan's business lines and history of acquisitions and milestones.
The document discusses key trends shaping the future of wealth management based on observations from a conference presentation. It notes that the high net worth market will increasingly skew older due to demographic trends. It also discusses the growing diversity of wealth holders, increased business assets transitioning, rising client demand for advice and open architecture, and the fragmentation of the industry and rise of independent advisors. Finally, it outlines how the investment landscape will be reshaped by institutional approaches migrating to personal portfolios.
The presentation summarizes the buy proposal for J.P. Morgan Chase & Co. It introduces the company and its products/services such as investment banking, markets & investor research, treasury services, investment management, private banking, wealth management, and commercial banking. It discusses J.P. Morgan's consistency, resilience, and elite status in the banking industry. The presentation also covers opportunities for growth through expanding overseas, a wealth of opportunities in areas like emerging markets, and forecasts for the company.
El documento describe una serie de talleres y actividades que tendrán lugar en Punt Jove para conmemorar el Día Internacional de la Mujer. Incluye talleres sobre la imagen de las mujeres en los medios de comunicación, auto-maquillaje, eliminación de barreras personales, una clase de zumba, y actividades para niños sobre roles de género e historia de mujeres notables. Los eventos serán ofrecidos por varias organizaciones como INFODONA, Cruz Roja Juventud, y profesionales independientes.
O documento apresenta um resumo do livro "Justine" do Marquês de Sade. A história acompanha as desgraças da personagem Justine, que tenta viver virtuosamente em meio a uma sociedade corrupta onde sofre abusos, estupros e acusações injustas. Apesar de todos os tormentos, Justine mantém sua fé na virtude e na religião. O documento também fornece breves biografias do Marquês de Sade e da banda musical Flowing Tears.
Tips for Improving Cash Flow from Deloittstephpatl
This presentation offers valuable tips for business owners and financial executives to better manage your company\'s assets and raise capital in a changing economy. You\'ll learn new strategies for conserving cash, diversifying funding sources, and retaining talent -- all from a new Deloitte special report. Find out how to develop a "new mix" of capital to finance your company, and hear other tips for reducing costs and accelerating business growth.
DealMarket DIGEST Issue 140 // 09 May 2014CAR FOR YOU
This document provides a summary of recent news and deals in the private equity industry:
- M&A activity in the Middle East increased in Q1 2014, with the top deal being a $700 million acquisition in Qatar. Foreign investment in the region also significantly increased.
- German fire safety company Minimax is being sold to private equity firms in a potential $1.8 billion deal.
- Large tech companies like Yahoo and Google led the US in M&A deals in 2013, paying high multiples for acquisitions in their pursuit of technology dominance.
- Sovereign wealth funds and family offices have increasingly been investing directly in the European venture capital market in large deals.
- Fundraising
Pyatt Broadmark Real Estate Fund I Presentation Oct 2015Alan Chu
This document provides an overview of the Pyatt Broadmark Real Estate Lending Fund I (PBRELF I). PBRELF I invests in short-term, first lien loans secured by real estate projects in the Pacific Northwest. The goal is to provide high-yield returns while minimizing risk. PBRELF I has $136.4 million in assets under management. It offers diversification, consistent performance, and monthly distributions to investors.
Investor relations or stock promotion involves the dissemination of information about a public company to increase its stock price and/or trading volume.
The person who publishes this information is sometimes referred to as a “Stock Promoter”, “Investor Relations Provider” or “Stock Tout”.
Fundamental Global | Some Investors Wonder if Mellon Financial Is Being All I...Fundamental Global
Mellon Financial has in recent years undergone a makeover, transforming itself from a slow-growing mid-Atlantic bank into an asset management giant.
Over the last six years, it has shed its consumer banking businesses and grown its money management units, which rake in hefty fees. But some say that Mellon remains one of the banking industry's ugly ducklings still waiting to blossom.
Lending Club aims to increase business loans issued by 25% in Q1 2016 through a digital marketing strategy. This includes content marketing like a blog, email marketing targeting different customer segments 2x/week, and social media like LinkedIn to target entrepreneurs, Facebook to learn about customers, and Twitter for feedback. Search engine optimization and paid search will target keywords like "small business loan calculator". The goal is to acquire new customers, increase brand awareness, and provide helpful resources to small businesses.
Pyatt Broadmark Real Estate Fund I Fact Sheet Sept 2015Alan Chu
The portfolio currently holds 141 active loans totaling $159.3 million, secured by $275.3 million in collateral. 182 loans have been repaid totaling $106 million, secured by $180.9 million in collateral. The Pyatt Broadmark Real Estate Lending Fund I is an evergreen fund that provides short-term loans secured by real estate in the Pacific Northwest, with a focus on high monthly returns while minimizing risk of loss. Prospective investors should be aware of risks including potential loss of principal, liquidity, interest rates, and income.
07.19.2018 Understanding the Sell Side M&A Process for a Private CompanyExpert Webcast
Major Topics:
M&A market overview
Corporate and shareholder readiness
Assembling the deal team
Legal issues
Investment banking process
Types of buyers
Deal structures
Due diligence
Capitalizing on “hidden” assets – life insurance
Tax and other incentives available
M&A insurance
JPMorgan Chase & Co. is the largest bank in the US and 2nd largest financial institution globally. It was formed in 2000 through the merger of Chase Manhattan Corporation and J.P. Morgan & Co. The company has over $2 trillion in assets, 258,965 employees in over 50 countries, and provides financial services as well as credit, investment banking, asset management, and private banking services to corporations, governments, institutions, and individuals worldwide.
Montello Real Estate Opportunity Fund Summary InfoMontello
The Montello Real Estate Opportunity Fund is advised by Montello Capital Advisors Limited (“Montello”), part of the Montello group, which is one of the leading real estate financiers in the UK.
Reasons behind criminal probes facing jp morgan investigatingDIPESH30
This document provides an overview and analysis of the criminal probes currently facing JP Morgan. It explores three major issues contributing to the probes: the sale of mortgage-backed securities, new business deals won, and unclaimed property issues in several states. The document recommends establishing clear measures for buying/selling securities, an ethics committee, and measures to track company assets/properties. It conducts a SWOT analysis of JP Morgan and a PESTLE analysis of its external environment to examine the current situation and make recommendations. The overall goal is for JP Morgan to address the probes in a systematic way to avoid further legal issues and encourage integrity in its operations.
SPE Mention - Executing a Deal Road Show - IR Magazine - 2013 DecemberSteve Eschbach
The document discusses the important role that investor relations (IR) can play in a company's deal road show when raising capital or announcing a transaction. It recommends that IR become actively involved early in the process to provide insights about shareholders and help develop road show materials. IR knows the company's shareholders better than anyone else and can help banking partners understand which investors may be interested. The document also stresses that IR should prepare executives for a variety of questions during road show meetings and help ensure transaction rationales fit with the company's existing story.
Detailed overview of LendingClub's IPO including its funding history, business operations, financial performance, public company comparables and relevant industry transactions
Integrating Investor Relations Internally - ABF Investor Relations ConferenceKenny Ong
Integrating Investor Relations internally
*Importance of involving employees’ participation in the Investor Relations programme
*Management’s leadership and transparency in promoting and enhancing employees’ cooperation in building corporate values
*Constant interaction as continuous improvement and enforcement in creating shared corporate values
The document discusses the state of the liability-driven investment (LDI) landscape in the UK and US markets. In the UK, there are currently 14 providers but the market may be oversaturated, while in the US the demand for LDI strategies still outstrips the supply. Some feel there needs to be more customized solutions available in the US rather than just extending duration. Established UK providers believe the market has enough capacity already and that new entrants could be detrimental, but others see benefits to increased competition.
This document provides an analysis of JPMorgan Chase & Co., including an overview of its business segments and the risks it faces. JPMorgan Chase has four main business segments: consumer and community banking, corporate and investment banking, commercial banking, and asset management. It faces various risks like credit, market, operational, and reputational risk. The document also discusses how JPMorgan Chase measures and protects itself against these risks, as well as the various regulators that oversee the company.
Demand for alternative assets remains strong as investors and plan sponsors seek asset diversification, higher yields, and uncorrelated returns. As a result, alternatives are a clear bright spot in the asset management industry. Despite significant headwinds, successful alternative asset managers are growing while many traditional asset managers have or are considering moving into the space. A similar trend is playing out among investment service providers -- traditional servicers are expanding their capabilities to include alternatives. As demand grows for alternative assets, a new FinTech ecosystem is developing to help investors, investment managers, and service providers to access new asset classes and manage their investments and operations with new data, software, and platforms.
J.P. Morgan has a 200+ year history as a leading financial institution. It provides services across investment banking, sales and trading, asset management, and corporate banking. After mergers over the decades, it is now one of the largest banks in the U.S. by assets. The document outlines J.P. Morgan's business lines and history of acquisitions and milestones.
The document discusses key trends shaping the future of wealth management based on observations from a conference presentation. It notes that the high net worth market will increasingly skew older due to demographic trends. It also discusses the growing diversity of wealth holders, increased business assets transitioning, rising client demand for advice and open architecture, and the fragmentation of the industry and rise of independent advisors. Finally, it outlines how the investment landscape will be reshaped by institutional approaches migrating to personal portfolios.
The presentation summarizes the buy proposal for J.P. Morgan Chase & Co. It introduces the company and its products/services such as investment banking, markets & investor research, treasury services, investment management, private banking, wealth management, and commercial banking. It discusses J.P. Morgan's consistency, resilience, and elite status in the banking industry. The presentation also covers opportunities for growth through expanding overseas, a wealth of opportunities in areas like emerging markets, and forecasts for the company.
El documento describe una serie de talleres y actividades que tendrán lugar en Punt Jove para conmemorar el Día Internacional de la Mujer. Incluye talleres sobre la imagen de las mujeres en los medios de comunicación, auto-maquillaje, eliminación de barreras personales, una clase de zumba, y actividades para niños sobre roles de género e historia de mujeres notables. Los eventos serán ofrecidos por varias organizaciones como INFODONA, Cruz Roja Juventud, y profesionales independientes.
O documento apresenta um resumo do livro "Justine" do Marquês de Sade. A história acompanha as desgraças da personagem Justine, que tenta viver virtuosamente em meio a uma sociedade corrupta onde sofre abusos, estupros e acusações injustas. Apesar de todos os tormentos, Justine mantém sua fé na virtude e na religião. O documento também fornece breves biografias do Marquês de Sade e da banda musical Flowing Tears.
Lessons from the Vault: Develop inquiry-based assignments with Special Collec...Jillian Sparks
During this session participants learned how other instructors integrated special collections resources and class visits into their curriculum and how special collections librarians can partner with them to engage students in primary source analysis. They worked with materials to conceptualize their own inquiry-based assignments thinking about how the materiality of an object fosters students’ curiosity. We finished the morning with a behind the scenes tour of the vaults.
Este documento presenta las bibliografías de tres unidades de aprendizaje relacionadas con la ecología, la materia y sus interacciones, y la materia y sus transformaciones. Incluye enlaces a libros, artículos, páginas web y lecturas digitales sobre estos temas para apoyar el aprendizaje de los estudiantes.
This document summarizes a presentation on maritime security challenges and territorial disputes in the Pacific Ocean. It begins with an introduction to the geography of the Pacific Ocean, describing it as the largest ocean covering half the earth's sea surface. It then discusses the concept of maritime security and lists seven main threats according to international law. Specific challenges in the Pacific Ocean are outlined, including territorial disputes over islands between Russia/Japan and China/Philippines. Other challenges mentioned are piracy, jurisdictional disputes, smuggling, illegal fishing and environmental issues.
Los Incoterms son reglas establecidas por la Cámara de Comercio Internacional para definir los derechos y obligaciones de compradores y vendedores en contratos de compraventa internacional. Establecen el momento y lugar de la transferencia de riesgos, costos de transporte y seguro, así como las obligaciones documentales de cada parte. Existen 13 incoterms agrupados en cuatro categorías según si la entrega ocurre en el país de origen, frontera o destino, clarificando aspectos cruciales del comercio internacional.
Constructed wetlands are a low-cost option for wastewater treatment that uses natural processes to remove pollutants. There are three main types: surface flow wetlands with exposed water, and horizontal and vertical subsurface flow wetlands where water flows below ground. Wetlands are effective at removing organic matter, solids, nutrients, and pathogens through sedimentation, filtration, microbial action, and plant uptake. They provide benefits like wildlife habitat and require little energy or maintenance compared to mechanical treatment systems. Literature shows that wetlands can achieve high removal rates of 70% or more for BOD, TSS, and bacteria while lowering costs and nutrients for water reuse.
Los platillos típicos son los que muestran la combinación de los aspectos prehispánicos y los aspectos españoles en la comida. La mayoría de los alimentos tlaxcaltecas en su mayoría indígenas y también resultado de esta mezcla prehispánica y española.
This document provides an overview of a product called Leyline that aims to connect accredited investors to private investment opportunities. It summarizes that currently less than 5% of accredited investors participate in private markets due to barriers like a lack of education, access, and transparency. Leyline's solution is to build an investor-centric platform that provides a single point of access to opportunities, education resources, and community tools to help more accredited investors participate in private markets. It outlines Leyline's team, marketing strategy, revenue model, competitive landscape, and potential exit strategies for investors.
Crowdfunding Industry Report- Infocrowdfunding 2012Uttopy
The document provides a summary of a research report on crowdfunding market trends from 2012. It analyzed data from over 170 survey responses and 135 crowdfunding platforms. Key findings include:
- The global crowdfunding market raised nearly $1.5 billion in 2011, with over 1 million successful campaigns.
- North America was the largest market but Europe was gaining share.
- Donation-based and lending-based platforms contributed most funds but reward-based platforms grew the fastest.
- The number of active crowdfunding platforms grew from 138 in 2009 to over 450 in 2012, with most based in North America and Europe.
- Reward-based represented the largest category by number of
The document discusses the services provided by Launchpad Investor Relations, a firm that offers senior-level investor and media relations counsel to micro-cap and privately-held companies. Launchpad has a team with decades of Wall Street experience and provides strategic counsel, capital introductions, and secondary market support services. The firm's services include developing strategic positioning and messaging, organizing conferences and presentations, targeting institutional and retail investors, setting up meetings between investors and clients, producing research reports, assisting with reverse merger transactions, and partnering with clients by sharing in their future performance through equity compensation.
DealMarket Digest Issue86 - 8th March 2013Urs Haeusler
SEE WHAT’S NEW AND NOTEWORTHY IN PRIVATE EQUITY THIS WEEK /// ISSUE 86 - 8th March 2013:
- Mutual Attraction: Family Offices and PE Fundraisers
- Survey Finds Investor Appetite for Big Buyout Funds
- PE Investors Eye Ista for $3.9 bn
- Doubts Linger About IPO as Exit in Europe
- Investments on the Rise in Latin America
- Quote of the Week: Sales Booster
SproutChange is a digital peer-to-peer lending platform that allows retail investors to invest small amounts in local socially responsible businesses. It addresses the problems of limited investment options for average investors and lack of financing for local businesses. By connecting investors directly to borrowers, it offers higher returns than traditional options and supports socially responsible growth. The target market is millennials and students who want to interact with and influence how their money grows. SproutChange will promote itself through social media, videos, and university partnerships to acquire its first customers and establish itself in the emerging Canadian peer-to-peer lending market.
- The Angel Capital Association claims that raising the financial requirements to be an accredited investor would reduce startup financing from angel investors. However, data on the angel capital market suggests otherwise.
- The SEC will decide later this year whether to raise the income and net worth thresholds to qualify as an accredited investor, as required by the Dodd-Frank Act.
- The ACA argues this would disrupt startup funding from angel investors. However, data shows the angel market has continued to grow even as the thresholds have not changed for many years, calling into question the ACA's argument.
Acquisition financing refers to the sources of capital used to fund a merger or acquisition. Common sources include bank loans, lines of credit, private lenders, SBA loans, debt securities, and owner financing. Securing acquisition financing often requires a mix of debt and equity from multiple sources. It is a complex process that requires thorough planning to obtain favorable financing terms.
1. The document summarizes a research report on crowdfunding market trends from 2012. It analyzes data from over 170 crowdfunding platforms regarding funds raised, operations, and key stakeholders from 2009-2011.
2. The report contains four sections: an overview of the research methodology, an analysis of market growth and composition, an overview of crowdfunding models, and an analysis of platform value propositions and functionality.
3. Over $1.5 billion was raised across 452 active crowdfunding platforms worldwide in 2011, with most platforms based in North America and Europe. Reward-based platforms were the largest category but equity-based platforms grew the fastest.
With heavyweights like PIMCO entering the managed futures mutual fund space, interest appears to be rising from both investors and asset managers in this investment vehicle. PIMCO recently filed documents with the SEC for a new mutual fund that will pursue a quantitative trading strategy to capture trends in global markets and commodities. While PIMCO declined to comment, analysts from Morningstar indicate the interest from a large firm like PIMCO shows ongoing demand for managed futures despite poor performance in recent years.
The document provides an outlook on the commercial real estate market in 2016. Some key points:
1) Fundraising remained strong in 2015 and the move toward larger funds continues, with opportunistic and value-added funds performing well. The search for opportunities continues as investors seek deals in new sectors.
2) Foreign investors remain attracted to the US market as a safe haven and are partnering with smaller US funds on secondary and tertiary market deals. Regulation A+ may provide a new avenue for real estate crowdfunding.
3) Data analytics and technology are starting to transform operations, while cybersecurity needs to become a higher priority as real estate assets become more connected.
4) The relentless
This document discusses how private equity firms are increasingly investing in the insurance sector due to predictable returns. It recommends that these firms partner with experienced Business Process Outsourcing (BPO) companies to help optimize their insurance investments. A trusted BPO partner can perform due diligence on potential targets, identify cost savings opportunities, improve operational efficiencies, and free up private equity firms to focus on financial returns. Partnering with a BPO with insurance industry expertise enables private equity firms to generate stronger returns through all stages of the investment process.
DFSCo Initial Public Offerings Considerations for Business Owners 20170112.PDFLee Anne Sexton
This document provides an overview of the initial public offering (IPO) process for business owners and executives. It discusses the principal phases of an IPO, which typically includes 6-24 months of preparation prior to engaging underwriters, followed by the registration statement submission period, SEC review period, and final marketing and pricing phase. Key topics covered include financial statement requirements, costs of going public, selecting underwriters, accounting firm considerations, NYSE vs Nasdaq listing choices, and planning for life as a public company.
2016 IVCA Viewpoint - The Art+Science of Investing in Private Companiesillinoisvc
The document summarizes a discussion about private equity and venture capital investments between representatives from two Illinois public pension funds and an investment consulting firm. They discuss that private equity has significantly outperformed other asset classes for the pension funds over long time periods. The representatives provide details on the percentage of assets their organizations invest in private equity/venture capital and their general investment philosophies. They also discuss what they look for in private equity and venture capital firms and fund managers when making investment decisions.
1) The role of investor relations (IR) is becoming more strategic and expansive as shareholders demand a deeper understanding of companies' strategies and visions for creating value.
2) Shareholders now want more than just earnings reports - they want the full context of companies' decisions and plans through dynamic, rich storytelling via multiple interactive channels.
3) Effective long-form communication of a company's business model and economic drivers can increase share prices by educating investors and building trust.
A Quick Guide to Venture Capital by Apogee Accelerator Groupsalesbuddy
Apogee Accelerator Group tells you what you need to know before seeking Venture Capital for your startup or small business.
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America is in the grips of a speculative frenzy. Investment .docxgreg1eden90113
A
merica is in the grips of a speculative frenzy. Investment bankers, private investment firms, and even a few dozen recently graduated
MBAs labelling themselves “searchers” are calling, emailing, wining, and dining small business owners. Their goal is to translate prosaic
small businesses into the poetry of private equity.
The great postcrisis private equity gold rush is on, fueled by cheap debt and enthusiastic investors. A lawn care chain might get half a dozen calls
and emails a week from business brokers and “searchers.” A regional bank auctioning off a business with $15 million in profits might pitch two
hundred prospects, receive fifty letters of intent, and take twelve separate private equity firms to management meetings, ending in a sale price
which the majority of bidders considers crazy. And the greatest prize of all—a software company—could sell for many multiples of revenue,
regardless of profitability.
As with the mortgage-backed securities bubble, experts are the promoters and pioneers of an “asset class” that they claim will offer high returns
with low risk, guided by the sage wisdom of elite managers. The legendary leader of Yale University’s endowment, David Swensen, has gone so far
as to call private equity a “superior form of capitalism.”
The experts agree with Swensen. A recent survey of institutional investors found that 49 percent expect private equity (PE) to outperform the
public equity market by a whopping 4 percent per year or more. Another 45 percent believe PE will outperform by 2–4 percent per year. Only 6
percent think returns will be comparable. The survey did not even bother to ask if investors thought PE might underperform. This is particularly
shocking given that data from Cambridge Associates shows that private equity returns have lagged the Russell 2000 index by 1 percent and the
S&P 500 by 1.5 percent per year over the past five years.
This consensus has led institutional investors to flood private markets with capital, about $200 billion per year of new commitments. The result is
soaring prices for private companies of all shapes and sizes. Just before the financial crisis, in 2007, the average purchase price for a PE deal was
8.9x EBITDA (earnings before interest, taxes, depreciation, and amortization—a commonly used measure of cash profitability). Deal prices reached
8.9x again in 2013 and are now up to nearly 11x EBITDA.
But asset prices are going up everywhere. What makes private equity dangerous is the use of debt—and the use of phony accounting to conceal the
riskiness of these leveraged bets. The average PE deal is 65 percent debt financed, and whereas the valuations of public equities are determined by
transparent, liquid public markets, PE firms determine the valuations of their own portfolio companies. Unsurprisingly, they report far lower
volatility than public markets.
This appraisal accounting also encourages lenders to take risks. After the financial crisis, the Fede.
This document provides an overview and analysis of Betterment, a robo-advisor startup. It discusses the wealth management industry landscape and how robo-advisors are targeting the underserved middle-income market segment. Betterment offers automated, low-cost investment management through an easy-to-use platform. The document analyzes Betterment's value proposition, performance and funding history. It also examines Betterment's future plans to expand into institutional and retirement services, and estimates the large total addressable market for robo-advisors. Competition in the robo-advisor space is also discussed.
- Global Financial Private Capital is an SEC registered investment adviser located in Sarasota, Florida that provides investment advisory services on a fee basis.
- An analysis was conducted comparing the returns of the largest mutual fund companies' stock performance to their largest mutual funds, finding that investing in the stock of mutual fund companies generated substantially higher returns over time than investing in their mutual funds directly.
- The analysis concluded that rather than investing in mutual funds, which have high fees and tax issues, investors would be better off considering investment in the stock of the companies that manage the mutual funds.
Specialty lending has grown significantly due to new regulations tightening bank lending standards. This has led banks to pull back from high-risk lending, driving clients to digital alternative lenders. These lenders utilize technology like big data and automation to efficiently match borrowers and lenders. Though still small compared to traditional banks, the specialty lending market has grown exponentially and has considerable room for further expansion, representing an opportunity for investors.
1. Midtown Partners Corporate Finance Practice October 2010 – New York Team Provided by: John R. Clarke Ari J. FuchsCEO, Managing Director Senior Vice President+212.972.8391 +212.972.8394JClarke@midtownpartners.com AFuchs@midtownpartners.com New York, NYTampa, FLBoca Raton380 Lexington Avenue 4218 W. Linebaugh Ave 7491 Estrella CircleSuite 1007 Tampa, FL 33624 Boca Raton, FL 33433New York, NY 10168Tel: +212-972-8390 Tel: +813-885-5744 Tel: +561-483-6129
2. Table of Contents Page Number Letter from the CEO………………………………………………………………… 3 Firm Rankings……………………………………………………......................... 4Firm Profile ………………………………………………………......................... 6 Capital Markets Practice PIPEs vs. Secondaries …………………………………………………. 7 Private vs. Hybrid …………………………………………………………8 PIPEs ……………………………………………………………………... 9 Reverse Mergers and APOs ……………………………………………. 10 Follow-Ons and Registered Directs ………………………………….... 11 ATM Offerings & CMPOs ………………………………………………. 12 Strategic Advisory ……………………………………………………….. 13 Advisory – Exchange Listing ………………………………………….... 14 Advisory – Path to Liquidity ……………………………………………...15 Tombstones ………………………………………………………………………… 16 Biographies ………………………………………………………………………….. 17 2
3. Letter from CEO 3 Dear Issuer Executive, I’d like to personally thank you for reviewing and considering Midtown Partners as a Investment Banking partner and/or Financial Advisor for your company. Our capabilities are evidenced with our senior bankers’ track records and experience in funding micro- and small-cap companies, as well as with our consistent rankings among the league tables, tracking placement activity among U.S. Investment Banks of all sizes. There are many paths to growth, and the best companies pursue multiple strategies as market conditions change and opportunities arise. Our motto is: “Helping Companies Grow.” And we do just that. On every client assignment, we assign a senior executive in the firm that has extensive experience serving lower middle market public companies. Throughout the past few decades, we have seen the changes and tackled challenges that the smaller public companies face, and can offer this expertise to the management team of issuers like yourself. This is evidenced with our creativity and delivery of both “outside the box” and “inside the box” thinking as we use our experience to better meet your company’s needs and desires. We will strive to demonstrate, both in our words and actions, that Midtown Partners is responsive to the needs of those we serve. Whether you are looking for a partner to procure immediate funding or to build your company’s capital markets strategy, Midtown Partners is the right choice to not just meet your needs, but to exceed them. We are excited to learn more about your company, and to introduce our team to you in order to see if we can bring value to the table in helping your company exceed your goals. We work hard to deliver results – the proof is in the rankings. Sincerely yours, John R. ClarkeCEO & Managing Director, Investment BankingMidtown Partners & Co., LLC
5. 2009 PIPE Placement Agent Rankings * Based on data from PlacementTracker.com** Based on total Issuance Amount of Placements (not Agent allocation) 5
6. Firm Profile 6 Founded in 2004 by a small group of entrepreneural corporate finance professionals, Midtown Partners & Co., LLC is one of the fastest growing PIPE placement agents in the country. The group prides itself on fostering strong relationships with clients by providing creative and unique financial solutions to high growth companies within the lower middle market (enterprise values less than $300 million) and emerging market sectors. The Investment Banking Group at Midtown Partners & Co., LLC believes that client relationships and industry focus are keys to the success of emerging growth companies. Such companies can greatly benefit from the investment banking services of a firm with a unique understanding of the nature of smaller transactions, and the respective marketplace. Our senior investment bankers have raised in excess of $1 billion in capital across multiple transactions in both public and private debt and equity financings. The team has experience executing transactions and advising companies across a variety of industries including Healthcare, Oil & Gas, Consumer Products and Services, Information Technology, Telecom and Internet, and Defense. The group has gained broad experience, considerable industry knowledge and extensive structuring expertise at some of Wall Street's most prestigious firms, thereby becoming a valuable resource to our clients. Every client engagement is led by a senior level professional who works closely with the company's management to ensure that the size and parameter of each financing meets the needs of the business. We strive to deliver creative and customized solutions that address our clients’ critical business needs. By listening to our clients’ needs, speaking with customers, business leaders, and anticipating their needs, Midtown Partners has provided service to clients in a vast array of industries. Our bankers are known for their extensive experience in the industries with which they interact regularly. This experience enables our professionals to provide unique insight into potential advisory engagements and capital markets transactions, ultimately offering our clients strategic solutions that will best benefit their business. We pride ourselves in the way we do business. After taking the time to understand our clients’ businesses and strategic objectives, we leverage our wide network of contacts in order to build a concise plan, clear agenda, and assessable goals. To put it simply: We put our clients’ needs first.
7. The Emergence of PIPE Financings vs. Secondary Offerings 7 In years past, the acronym “PIPE” was much less known – and often, carried a negative connotation among those who were familiar with such instruments, much like that of the high yield bond market in its early years. High yield bonds were often dismissed as “junk” since mainstream investors and investment dealers didn’t deal in these bonds. Today, high yield is a highly relevant financing market that is broadly embraced by issuers, investors, and bankers. The advent of modern portfolio theory meant that financial researchers soon began to observe that the risk-adjusted returns for portfolios of junk bonds were quite high, meaning that the increased credit risk of these bonds was often more than exceeded by the higher interest payments. The PIPEs market has undergone a similar evolution; as more institutional investors became familiar with the risks and advantages, more and more capital flowed into these financings. In 2008, the private placement in public equity and registered-direct markets exceeded more than $120 billion* in capital raised, an amount that represents more than half the size of the public follow-on market. PIPEs are quickly becoming a preferred, mainstream financing technique for small cap, mid cap, and large cap companies alike. There are many key differences between PIPE financings and secondary offerings. A PIPE transaction is the privately negotiated sale of a public issuer’s unregistered equity or equity-linked securities to investors, where the sale is conditioned upon a subsequent resale registration statement being filed with, and declared effective by, the U.S. Securities and Exchange Commission (SEC). There is also another major difference that is of particular interest to company management teams – the process of how capital is raised. Private placements are marketed on a confidential basis, and only to institutional or qualified individual investors. The quick-and-quiet process is in contrast to the marketing of a public offering, where prospectuses are distributed to the universe of potential investors. Speed and confidentiality are key reasons why an increasing number of companies have been attracted to private placements. In addition, because a PIPE is not a public offering, the disclosure of any information that may be considered material and nonpublic needs to be handled with caution. Perhaps one of the most important reasons a company would wish to raise capital through a PIPE financing is that secondary offerings cause price erosion throughout the process of marketing the transaction. Many companies can raise capital at less dilutive terms using private placements, which is a benefit to shareholders and to the company. Source: Dresner, Steven. The Issuer's Guide to PIPEs. New York: Bloomberg Press, 2009.* Based on data from PlacementTracker.com
9. PIPEs 9 “A universally accepted definition of a PIPE has always been hard to come by. A general definition would be any privately negotiated equity or equity-linked instrument in a public company. But because of the increasing complexity of transactions, this description does not cover – and certainly does not explain – the abundance of investment structures that fall under the broad heading of a PIPE.” – an excerpt from PIPEs: A Guide to Private Investments in Public Equity (Revised and Updated Edition). In the past ten years, the emergence of such financing vehicles has altered the capital markets and corporate finance landscape for small and midsize public companies. Issuers seeking quick and competitively priced capital from institutional investors have made PIPEs a preferred choice. PIPEs and Registered Directs provide an alternative capital-raising medium for issuers who for some reason or another, would like to preserve confidentiality during the capital-raising transaction. Midtown Partners’ Investment Banking Team is extremely active in advising and procuring capital for clients in sophisticated capital-raising transactions. The company has consistently placed among the top 5 for most active placement agents** in providing capital to emerging growth companies. Strong ties with institutional investors allow Midtown to provide the capital availability and flexibility that is necessary for seamless transactions aimed at providing needed growth capital for the company in a responsible, more shareholder-friendly way. As a result, Midtown Partners has been a leader in PIPE transactions for the past 4 years. Midtown’s experience in helping small- and micro-cap companies to quickly and efficiently meet their capital needs is superb. Since 2005, the team at Midtown Partners has completed 75 transactions, raising over $290 million for public companies. ** Based on total Issuance Amount of Placements (not Agent allocation)
10. Reverse Mergers and Alternative Public Offerings 10 In an era of few IPOs and greater expenses and risks associated with becoming a publicly-traded company, chief financial officers are taking a close look at the merits of going public via reverse mergers instead of through IPO. Among them include: Speed and ease of completion Radically reduced expenses in becoming public Elimination of need for favorable market conditions IPOs generally require much greater attention from top management Lack of need for relatively long and stable earning history Maintain control of the company Less dilution of insiders’ holdings Reduced stigma due to more SEC regulation In a reverse merger, a private company merges with a public listed company with no assets or liabilities (also called a “shell” corporation). The private company merges into a public company and obtains the majority of its stock. The private company normally will change the name of the public corporation (often to its own name) and will appoint and elect its management team and Board of Directors. However, there is a large amount of work that needs to be done for all the wheels to be set into motion for a company to go public via reverse merger. Midtown Partners professionals have expertise in helping your company go public via reverse merger, and can coach you on the many steps you should take in order to bring your company public smoothly.
11. Follow-on Offerings & Registered Directs 11 The registered direct offering is a hybrid combining a public follow-on offering and a (private) equity placement, one in which the transactions are structured and marketed as if they were private placements but the investor receives registered, immediately transferable securities. Given the turbulence in today’s capital markets, many public issuers have been searching for practical methods of raising capital. Traditional public offerings are generally more time-consuming and expensive, not to mention harder to complete, especially in this environment. In addition, traditional PIPE offerings have become less and less attractive to most funds that have moved towards more liquid investments. Registered Direct offerings can be very attractive to public companies by allowing them to quickly raise capital, often without significant warrant coverage / derivatives, from a select group of investors. Our platform allows us to lead or co-manage underwritten follow-on offerings and registered direct transactions. We make it a priority to keep close to our small-cap institutional investors, which provides us with a continuous pulse on the capital markets and current investing climate. The past two decades have brought about many new, flexible alternatives for attaining capital. The team at Midtown Partners & Co. believes that issuers and their shareholders benefit most when company management teams work to attain the best funding structure for its unique situation. Whether the company needs a large chunk of capital to fund growth plans in the near future, or if the company simply wants to make sure the company is able to raise capital quickly and efficiently should situations arise, or if issuers are concerned about who owns the stock, it is extremely important for companies to “have all their ducks in a row” so that the company can better execute its growth plan without worrying about cash ongoing concerns. There are many requirements that a public company needs to satisfy in order to become S-3 eligible; Midtown Partners is able to advise your company on the entire process.
12. ATM Offerings & CMPOs 12 An “At-The-Market” (ATM) offering is an offering of securities into an existing trading market for outstanding shares of the same class at other than a fixed price on, or through the facilities of, a national securities exchange, or to or through a market maker otherwise than on an exchange. Therefore, the price at which securities are sold in an at-the-market offering will vary because it is based on the price of the securities in the trading market. There are many advantages of ATM Offerings: Minimal price impact – issuers can quickly raise capital by selling newly-issued shares into the natural trading flow of the market, without having to market and/or announce the offering Flexibility – sales can be effected on an agency or principal basis – terms of each sale are agreed upon between the issuer and the agent, including timing and size, at the issuer’s discretion Low cost – Distribution costs for at-the-market offerings are typically less than for traditional follow-on offerings Minimal management involvement – requires no “roadshows” and involve only limited prospectus preparation and delivery requirements Doesn’t apply to the 20% rule Disadvantages of ATM Offerings: Tend to be substantially smaller than traditional follow-on offerings Price of ATM offering also depends on market pricing; cost of capital fluctuates Not as stealthy as private placements since the securities are still registered offerings Eiger, Ze'- ev D.. Frequently Asked Questions About At-The-Market Offerings. Morrison & Foerster LLP, 2009. A CMPO (Confidentially Marketed Public Offering) is also known as an Unregistered Direct Offering (URDO) – essentially a public share offering that is announced after private investors have already been (confidentially) lined up for the new investment offering. The end result is a positive message sent to the market: you have investor demand and confidence in your stock issuance. The CMPO often increases the investor base, increases float, and generally increases sell-side research coverage Works best in robust markets or when you have just released blockbuster data Thomas, David. "NOTES FROM THE FINANCING PANELS AT BIO CEO 2010". Bio Industry Analysis Blog. April 19, 2010 <http://insidebioia.com/conferences/notes-from-the-financing-panels/>.
13. Strategic Advisory 13 When it comes to helping companies reach milestones in the capital markets, it is never one-size-fits-all. Public companies can benefit from our firm’s diligence in working with each client’s unique situations and opportunities, as well as from our success in helping clients reach their objectives. Experienced guidance through each stage of the offering process and assistance in assessing market potential, preparing offering documents, building placement syndicates, presenting to sophisticated institutions & accredited investors, coordinating effective distribution process, and reaching out to potential partners in the offering process (legal counsel, investor relations for building a shareholder base, strategic consulting, debt management, etc). Midtown has experience advising management of private and public companies relating to their securities and/or acquisition targets. We conduct due diligence and advise clients on all the facets of raising public and private offerings of equity and debt securities and private placements. This includes choosing what type of structure to go out with, to coaching the client about numerous rules and regulations, to advising which exchange would be practical for the company to uplist on, to what size the deal should be, and which investors to choose, as well as providing follow-on support. Midtown Partners created a comprehensive program that addresses the critical corporate finance needs faced by public companies not listed on a senior exchange – shareholder visibility and capital formation. With extensive experience and industry success, the professionals at Midtown Partners understand the needs of emerging growth public companies. Our Capital Advisory Program is designed to leverage our experience in maximizing the efficiency and effectiveness of public company executives in addressing critical corporate finance challenges. Specific Areas of Advisory Timeline & detailed planning for major Exchange Listing Year over Year shareholder growth Selection of public company professionals and vendors
15. Advisory: Path to Liquidity 15 There is generally a correlation between the daily volume of shares traded of a public security and the ability of the issuer to raise equity capital via the capital markets. Many funds in the investment community are shying away from restricted securities in case they need to get out of these positions. $ Liquidity = Volume (total shares traded) * Weighted Average Share Price In general, the number of trades in a day for a security is estimated to fall between 1% - 2%, on average, of the number of shareholders. Therefore, in order to effect a lasting, meaningful increase in a stock’s trading volume, it is important to increase your shareholder base.
17. Biographies 17 John R. ClarkeCEO & Managing Director, Investment Banking380 Lexington Avenue • New York, NY 10168Direct: 212-972-8392Fax: 212-972-8395JClarke@midtownpartners.com Prior to joining Midtown, Mr. Clarke was President and Managing Director of Investment Banking for H.C. Wainwright & Co. During Mr. Clarke’s tenure at Wainwright, the firm became the 3rd and 4th leading U.S. placement agent in number of closed PIPE transactions for the years 2004 and 2005 respectively (source Placementtracker.com). From early 2004, Mr. Clarke served as both the General Securities Principal and the Financial Operations Principal for the firm as well.Prior to H.C.Wainwright, Mr. Clarke held the position of producing Branch Manager for several NYSE member firms. Since entering the securities industry in 1984, Mr. Clarke has worked with over 100 public companies and assisted in raising in excess of $500 Million in directly placed private capital. In addition, Mr. Clarke has advised private companies in going public via IPO’s and reverse merger process. Mr. Clarke holds a bachelor’s degree in Finance from the E. Claiborne Robbins School of Finance at the University of Richmond. William A. RelyeaDirector of Research, Investment Banking380 Lexington Avenue • New York, NY 10168Direct: 212-972-8393Fax: 212-972-8395BRelyea@midtownpartners.com Mr. Relyea joined the firm in 2008. Previously he held the position of Director of Research at H.C. Wainwright & Co. As an analyst he was named to the Institutional Investor Magazine All-American Research Team twelve times, in the area of imaging technology. Mr. Relyea has investment banking experience with public and private companies in a variety of industries including: clean tech and alternate energy, (initiated $117mm IPO), imaging technologies, electronics, medical devices and medical technology His international experience includes heading an electricals group for Jardine Fleming in Tokyo, research on Japanese companies, Korean companies and Israeli companies. He published research in a variety of industry sectors including: imaging technologies, alternate energy and clean tech, electronics and composite materials. Mr. Relyea is a member of the PR Newswire-Disclosure Advisory Board. He received his MBA in finance from Cornell University and has a bachelor’s of science in physics, also from Cornell.
18. Biographies 18 Ari J. FuchsSenior Vice President, Investment Banking380 Lexington Avenue • New York, NY 10168Direct: 212-972-8394Fax: 212-972-8395AFuchs@midtownpartners.com Mr. Fuchs joined Midtown Partners in May, 2008. Mr. Fuchs previously worked as a Senior Associate with H.C. Wainwright & Co.. At H.C. Wainwright, Mr. Fuchs executed over $300 million in public and private financings for middle market companies across a variety of sectors, including technology, healthcare and natural resources. While at H.C. Wainwright, the firm was ranked the 3rd and 4th most active placement agents in 2004 and 2005 respectively. Prior to joining H.C. Wainwright, Mr. Fuchs served as Controller for Yofi Textile Printing, a $10 million textile company. Prior to his position at Yofi Textiles, he was employed by PricewaterhouseCoopers where he analyzed and managed 401(k) plans for Fortune 500 clients. In addition, Mr. Fuchs was employed in the Private Client Groups of UBS PaineWebber and Salomon Smith Barney. Mr. Fuchs graduated with a BS degree in Finance from Yeshiva University in New York City. Mr. Fuchs is fluent in French and Hebrew. Victor P. GreeneSenior Vice President, Investment Banking380 Lexington Avenue • New York, NY 10168Direct: 646-695-9301Fax: 212-972-8395VGreene@midtownpartners.com Prior to joining Midtown Partners, Mr. Greene was Managing Director of National Securities’ Investment Banking Division. Mr. Greene was also Managing Director of vFinance when it merged with National Securities. Mr. Greene has been in the securities industry for over 30 years; first as an institutional equity salesman and then as an investment banker starting with Solomon Brothers, working his way up to the head of the firm’s institutional and banking operations. Mr. Greene has been responsible for IPOs, private placements, PIPEs, bridges, and fairness opinions. His clients are institutions ranging from $3M to $25M, both public and private. Mr. Greene has a B.S. in Economics from the Wharton School at the University of Pennsylvania, as well as a J.D. from its law school.
19. Biographies 19 Prakash MandgiVice President, Investment Banking380 Lexington Avenue • New York, NY 10168Direct: 212-972-8396Fax: 212-972-8395PMandgi@midtownpartners.com Mr. Mandgi has strong interests in medical devices especially cardiac electrophysiology, biological materials, medical imaging and biotechnology. He graduated with a masters of science in biomedical engineering from Case Western Reserve in 1995 and completed his master's thesis in the field of cardiac electrophysiology at the Heart & Vascular Research Center. He also graduated with a bachelor’s degree in biomedical engineering from Bombay University in 1990. Mr. Mandgi modeled the firing sequence for an ultrasound digital scan converter at Bhabha Atomic Research Center (BARC) for his bachelor’s thesis. Graduated with an MBA from the University of Chicago (Finance, Analytical Finance, Accounting) in Dec 2004. Mr. Mandgi obtained the Professional Risk Manager (PRM) designation in 2007 and is a Level III candidate for CFA program. Rory McAdamVice President, Investment Banking380 Lexington Avenue • New York, NY 10168Direct: 212-972-8397Fax: 212-972-8395RMcAdam@midtownpartners.com Mr. McAdam joined the firm in 2007. He has been involved in many areas of the finance industry including syndicate trading, investment advisory and investment banking and has been employed by Oppenheimer, Merrill Lynch and Ryan Beck. Prior to joining Midtown Partners Mr. McAdam was a Managing Director at Magna Securities in charge of their syndicate trading desk and originating transactions. Mr. McAdam received a M.B.A from American International College and a B.A from State University of New York at Geneseo.
20. Biographies 20 Sean GatelyVice President, Investment Banking380 Lexington Avenue • New York, NY 10168Direct: 212-972-8398Fax: 212-972-8395SGately@midtownpartners.com Mr. Gately joined Midtown Partners in December 2009. He previously worked as a Senior Associate with Newbridge Securities. At Newbridge Securities, Mr. Gately focused primarily on Alternative Public Offerings in emerging markets. Prior to his position at Newbridge Securities, Mr. Gately was an Analyst at H.C. Wainwright & Co. Inc. While at H.C. Wainwright, the firm was ranked as one of the most active placement agents in private placements. Mr. Gately participated in transactions to raise over $100 million over a variety of sectors including technology, healthcare, and natural resources. Mr. Gately is a graduate of Providence College in Providence, RI. Patrick ChenAssociate, Investment Banking380 Lexington Avenue • New York, NY 10168Direct: 212-972-8392Fax: 212-972-8395PChen@midtownpartners.com Mr. Chen joined Midtown Partners in June 2008. He graduated Babson College with a BS degree in Finance, with a minor in Economics. Prior to joining the firm, Mr. Chen was employed by Ameriprise Financial where he analyzed mutual funds and aided senior advisors with creating allocations for clients. Mr. Chen is licensed as a Registered Representative and as a Registered Investment Adviser. He is a Level I candidate for the CFA Program. Mr. Chen also volunteers for various organizations, including the Institute for the Development of Earth Awareness (IDEA), a 501(c)(3) non-profit thinktank and educational organization whose mission synthesizes human, animal and environmental issues, and also Dare2B, a non-profit organization to raise awareness about helping those in need in the New York area.