Growth issuers and investors have conducted equity private placements at a brisk pace this year, making the first quarter the most active early-year period in three years. The continued life science bull market and IPO run fueled much of the activity in growth equity private placements (EPPs) – offerings of a least $1 million of stock or equity-linked debt that feature fixed purchase, conversion and warrant exercise price terms, and that are sold by companies with market capitalizations from $10 million to $1 billion. However, mixed messages from the Federal Reserve about interest rates and fears about a market correction, particularly in the life science sector where investors have apparently swung to a “risk off” posture, could temper enthusiasm for EPPs in the coming weeks. While EPP deal making remained resilient through the first half of April, four companies postponed IPOs, including two biotech issuers, as broad selloffs hit the market.
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Glori Energy, an energy technology company, and SPAC Infinity Cross Border Acquisition Corp. (INXB) have completed their merger announced on January 8. The merger included a simultaneous private placement led by Infinity Group and Hicks Equity Partners. Commencing April 15, 2014, shares and warrants of Glori will be publicly listed on the Nasdaq Capital Market […]
A U.S. investor who lost millions investing in a China reverse-merger company accused of fraud is about to recover 200% of his original investment through a unique legal strategy playing out in the Delaware Chancery Court. Growth Capital Investor has learned a private equity firm has signed a letter of intent and is currently negotiating […]
The North American Securities Administrators Association (NASAA) commanded a private sit down with SEC Chairwomen Mary Jo White and Commissioner Luis Aguilar on April 9 to discuss federal pre-emption issues the state securities regulators group sees as a problem in the proposed rulemaking on Regulation A+, the expanded securities offering exemption mandated by the JOBS Act. […]
Committed Capital Acquisition Corp. (CCAQU) has completed its IPO, raising $35 million. The SPAC sold an aggregate of 7,000,000 units at a price of $5.00 per unit. Each unit issued consisted of one share of common stock and one warrant to purchase one-half of one share of common stock at an exercise price of $5.00 […]
Liberty Bell Bank (LBBB) announced that it has raised $2,900,000 in a Common Stock transaction. The common stock was sold at $1.00 per share, an approximate 9% premium to the market price ($0.92) of LBBB at deal announcement. The transaction is expected to close by May 12, 2014. This Placement is part of a $5 […]
H.C. Wainwright & Co. (HCW) has hired two senior equity research analysts to cover companies in the technology and emerging growth sectors. Amit Dayal joins HCW as a Managing Director, Senior Technology Analyst, were he will focus on covering companies primarily in the social networking, software security and clean technology industries. Prior to joining HCW, […]
Mark Green has joined Ladenburg Thalmann & Co. as a managing director and head of technology investment banking at the firm, focusing on fundraising, structuring, advisory and M&A for innovative growth companies in the technology sector.