IFR International - 21.07.2018

(Martin Jones) #1

CARBONITE BRINGS BACKUP
FINANCING PLAN


-OREûTHANûSEVENûYEARSûAFTERûITSû)0/ ûDATAû
BACKUPûSOFTWAREûPROVIDERûCARBONITE
RETURNEDûWITHûITSûlRSTûREGISTEREDûFOLLOW
ONû
STOCKûSALEûLASTûWEEK ûRAISINGû53MûTOû
CUTûDEBTûTAKENûONûTOûPAYûFORûAûKEYû
ACQUISITIONûEARLIERûTHISûYEAR
!FTERûTWOûDAYSûOFûMARKETING ûBarclays,
Jefferies, RBC Capital Markets and StifelûUPSIZEDû
THEûOFFERINGûTOûMû#ARBONITEûSHARESûFROMû
MûATûLAUNCHûANDûPRICEDûTHEûDEALûATû
53 ûAûûlLE
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 ûSHARESûTOûMOREûTHANûHALVEûHISûSTAKEû
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PREMIUM
!FTERûHITTINGûLOWSûAROUNDûTHEû53û
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MARKETSûWILLINGNESSûTOûATTACHûBIGû
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BASEDûSOFTWAREû
COMPANIES ûOPENEDûUPû#ARBONITESû
FUNDINGûOPTIONS
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ESSENTIALLYûFUNDINGûITSû53Mû-ARCHû
PURCHASEûOFûONLINEûBACKUPûSERVICEû-OZYû
FROMû$ELLû4ECHNOLOGIES
The decision at that time to draw down
ONûAû53MûCREDITûFACILITYûPROVIDEDûBYû
3ILICONû6ALLEYû"ANK û#ITIZENSû"ANK û(3"# û
"ARCLAYSûANDû7ELLSû&ARGOûANDûWAITûFORûAû
BETTERûTIMEûTOûRAISEûEQUITYûPROVEDûAûGOODû
ONEû3INCEûTHEN ûTHEûSTOCKûHASûJUMPEDûFROMû
AROUNDûTHEû53ûLEVEL
4HEûOFFERINGûWILLûLEAVEû#ARBONITEûDEBT
FREE ûASSUMINGûTHEû#"SûAREûULTIMATELYû
CONVERTEDûINTOûEQUITY
#ARBONITEûSHARESûFELLûûTOû53ûINû
4HURSDAYSûAFTERMARKETûASûINVESTORSû
DIGESTEDûTHEûUPSIZINGûAFTERûTHEûSTOCKSû
STUNNINGûRALLYûINûRECENTûYEARS


EVOLUS INJECTS EQUITY

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ITSûBIOSIMILARûVERSIONûOFû"OTOXûTOûMARKETû
ANDûWASûLOOKINGûTOûRAISEûNEWûFUNDINGûTHISû
WEEK
Cowen and MizuhoûLAUNCHEDûMARKETINGûONû
MûSHARESûAFTERûTHEûCLOSEûONû-ONDAYûVERSUSû
Aû53ûREFERENCEûPRICE ûWITHûPRIMARYû
and secondary sellers contributing an equal
NUMBERûOFûSHARES


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BYûSELLINGûMûSHARES ûWHILEûFORMERûPARENTû
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MûSHARES
%VOLUSûTRADEDûHEAVILYûONû4HURSDAYûTOûAû
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4HERAPEUTICS
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FUNDINGûFORûAûNEWûTYPEûOFûPAINûDRUGûTHATû
MAYûPROVEûTOûBEûSAFERûTHANûTRADITIONALûOPIOIDû
DRUGS
Jefferies, Bank of America Merrill Lynch, Piper
Jaffray and StifeLûPRICEDûMûSHARESûATû
53ûONû7EDNESDAY ûAûûALLûINû
DISCOUNT
#ARASûDRUGSûSELECTIVELYûTARGETûRECEPTORSû
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RELATEDûSIDEûEFFECTSûINCLUDINGûEUPHORIA û
which leads to addiction and abuse, and
NAUSEA
#ARAûANNOUNCEDûPOSITIVEûTOPûLINEûRESULTSû
FROMûAû0HASEû)))))ûTRIALûOFûONEûOFûITSûDRUGSûINû
PATIENTSûUNDERGOINGûABDOMINALûSURGERIESû
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COMPLETEûTHEû0HASEû)))ûTRIAL

LAST PRE-HOLIDAY IPOs QUEUE UP

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)0/SûINûTHEûPASTûWEEK ûPUTTINGûTHEMûONû
TRACKûTOûPOTENTIALLYûGOûPUBLICûBEFOREûTHEû
MID
!UGUSTûSUMMERûBREAK
2EGIONALûAIRLINEûMESA AIRûISûLOOKINGûTOû
RAISEû53MûFROMûAû.ASDAQû)0/ûTOûBEûLEDû
by Raymond James and Bank of America Merrill
Lynch
4HEûAIRLINEûlRSTûlLEDûCONlDENTIALLYûONû
-AYûûBEFOREûMAKINGûITSûPUBLICûlLINGûONû
*ULYûû4HISûPOSITIONSûTHEûCOMPANYûTOû
LAUNCHûTHEûDEALûASûEARLYûASûTHEûWEEKû
BEGINNINGû*ULYûûANDûDEBUTûINûEARLYû
!UGUST
-ESAûALREADYûHASûAûGOODûSPREADûOFû
STRATEGICûANDûINSTITUTIONALûINVESTORS û
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#ITIGROUPûANDû-ARBLEGATEû!SSETû
-ANAGEMENT
)TSûSHAREHOLDERûBASEûREmECTSûTHEûPROCESSû
THATûSAWûTHEûCOMPANYûEMERGEûFROMû
#HAPTERûûBANKRUPTCYûINû ûAûRESULTûOFû
HIGHERûFUELûPRICESûMAKINGûITSû
SEATû#2*

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SCIENCES ûTHEûDEVELOPERûOFûAûDRUGûFORû
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2AMASWAMYSû2OIVANTû3CIENCESûEMPIRE ûISû
READYINGûAû53Mû)0/ûLEDûBYûJP Morgan,
Jefferies and Cowen
5ROVANTûHASûANûEXCLUSIVEûLICENCEûFROMû
-ERCKûTOûCOMMERCIALISEûAûORALûUROLOGICû
DRUGûCALLEDûVIBEGRONûOUTSIDEû*APANûANDû
CERTAINûOTHERû!SIANûTERRITORIES
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ANDû$ATAVANT
PACIFIC CITY FINANCIAL ûANû,!
HEADQUARTEREDûCOMMERCIALûBANKûWITHû
TOTALûASSETSûOFû53BN ûlLEDûFORûAû
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+OREAN
!MERICANûCOMMUNITIES û
PREVIOUSLYûlLEDûCONlDENTIALLYûONû!PRILû
Keefe Bruyette & Woods, Raymond James
and Sandler O’Neill + Partners are listed as
JOINTûBOOKRUNNERS
&OUNDEDûINû ûTHEûBANKûHASûûFULL
SERVICEûBRANCHES ûûOFûWHICHûAREûINû
#ALIFORNIAûANDûONEûEACHûINû.EWû9ORKûANDû
.EWû*ERSEY
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GROWTH
RA MEDICAL SYSTEMS ûWHICHûDEVELOPSû
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FORûANû53Mû.93%û)0/
Piper Jaffray and Cantor Fitzgerald are
JOINTûBOOKRUNNERS
2AûlRSTûlLEDûCONlDENTIALLYûONû-AYû

EQUITIES AMERICAS
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