Growth Capitalist (https://growthcapitalist.com/category/premium-articles/markets/page/27/)
Macro-market developments affecting capital formation by pre-IPO private and public emerging growth companies
BLOX, Inc. (BLXX) announced that it has raised $1,000,000 in a Units (Common Stock + Warrants) transaction. The common stock was sold at $0.05 per share, an approximate 67% discount to the market price ($0.15) of BLXX at deal announcement. A series of 20,000,000 60-Month Warrants with an exercise price of $0.05 per share (66.67% discount) was issued to the investors in this transaction. The transaction closed on March 05, 2014. via PlacementTracker.
Pretium Resources Inc. (PVG) announced that it has raised $14,225,187 in a Common Stock - Flow Through transaction. The common stock was sold at $7.28 per share, an approximate 5% premium to the market price ($6.92) of PVG at deal announcement. BMO Capital Markets Corp. acted as Lead Agent on the transaction. The transaction closed on March 06, 2014.
Plug Power, Inc. (PLUG) announced that it has raised $22,400,006 in a Registered Direct transaction. The common stock was sold at $5.74 per share, an approximate 15% discount to the market price ($6.75) of PLUG at deal announcement. Cowen and Company, LLC acted as Underwriter on the transaction. Underwriter counsel was Lowenstein Sandler, PC and issuer counsel was Goodwin Procter, LLP. Note this Placement is subject to customary closing conditions and is expected to close by 03/11/2014.
Emerging growth companies raised $663.6 million in 18 confidentially-marketed public offerings (CMPOs) in February, making it the most actively used registered private placement structure for the month, and the most active month for CMPOs in over 18 months. Biotech issuers fueled the deal activity, raising 62% of the capital and launching half of the CMPO deals closed last month. February’s CMPO activity was at the highest levels in the past 24 months in terms of total deals and capital raised. The month’s deal pace was well ahead of 2013’s monthly average of 10 deals raising $359 million. It was the best month for CMPOs since October 2012, when 13 deals were closed raising $520 million.
