Our Clients

Transaction and Process Overview

Preparation

• Matthews South advised the company on the best approach to raise capital and helped management every step of the way to ensure successful execution at an accelerated pace

Structuring

• In addition to convertible structuring, we advised the company on whether or not to include a call spread and ultimate structure
• We evaluated merits of including a provisional call with make-whole and tax/accounting implications

Day of Marketing

• We supported the company throughout the marketing process to ensure their goals were achieved
• We designed call spread bid process to optimize pricing and expand bank relationships
• Transaction size was upsized from $125mm to $135mm
• The convert priced at the best end of coupon and higher than the best end of conversion premium marketing range
• Achieved the best coupon on a convert deal by a sub-$1bn market cap company in 10+ years
• We saved the company $2.7mm on the call spread vs. pricing indications received before execution
• The company felt that having us as the “steady hand” had a big impact on success of the execution process