Our Clients

Complete Process and Execution Management

• We helped the company evaluate alternatives, structure the transaction, and draft the documentation prior to any involvement from the banks
• Helped formulate syndicate strategy to achieve company’s objectives around execution success, acknowledgement of value delivered, and transaction costs

Trusted Advisor

• Matthews South also advised on Vocera’s $143.75mm issuance in 2018

Debt Buyback

• The company used ~$100mm of cash and ~$60mm of shares to crystalize the dilution on its outstanding in-the-money notes

Day of Marketing

• Matthews South advised the company throughout the day of execution to help ensure that the security was priced optimally
• Our call spread auction achieved efficient pricing terms, and resulted in an effective pre-tax interest rate below 2% and zero dilution until the stock price appreciates above 75%
  • The capped call process saved the company ~$2.5mm versus initial expectations
• The stock traded slightly up on the day of offering, indicating investor enthusiasm and support for the buyback

Additional Deals for Vocera:

• May 2018: $144mm Convertible + Capped Call