Our Clients

Wall Cross to Overnight Execution

• The company used wall cross process to pre-sound the offering and proposed terms to select outright and hedged investors
• The book was fully subscribed at the time of public announcement
• This allowed the company to receive attractive pricing and execute on an overnight basis, eliminating the company’s stock price risk

Investor Receptivity

• Despite raising ~33% of its market cap in the convertible, investors responded positively with the stock down less than a percent on the day of public announcement

Capital Structure Advice

• Matthews South worked with the company and its board to determine the optimal strategy to refinance its upcoming $51 million convertible maturity
• Once the convertible option was selected, Matthews South helped evaluate the various structural and marketing alternatives, including privately negotiated exchanges with existing investors