MLV Leads ATM Transactions Market in 2012

NEW YORK, Sept. 27, 2012 /PRNewswire/ -- MLV & Co., the boutique investment bank, completed 16 successful at-the-market (ATM) transactions in the first half of 2012, more than any other investment bank. MLV has underwritten almost 20% of the 95 ATM transactions filed through August 31, 2012.

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The annual total of ATM filings has increased steadily since 2006.  Each year, greater numbers of corporate boards and senior managers come to appreciate the ATM transaction's efficiency and flexibility.  With ATM issuance:    

• Companies can raise capital opportunistically, in times of need or strength, with a long-term strategy, rather than submit to a big, one-time, event-driven deal;
• Companies have the ability to sell shares whenever they choose, at the current market price;
• Companies can decide to take advantage of even very short windows of opportunity to issue shares, such as part of a trading day – or not, for any reason;
• Financial goals can be achieved without unnecessarily diluting shareholders, and at a lower cost of capital versus traditional approaches to corporate finance.

"With its leadership in ATM and yield products, MLV provides corporate boards and management teams an alternative, more efficient and strategic approach to raising capital," said Patrice McNicoll, Chief Executive Officer of MLV & Co. 

The average market cap of an ATM issuer this year was approximately $2.9 billion, with the median market cap being approximately $650 million.  "As the financial markets swooned this past May, ATMs' share of the follow-on market spiked to 38% of all follow-on equity offerings in that month.  This proves that ATM is the only tool that works in a down market," commented Dean Colucci, President of MLV & Co.

MLV underwrote 20% of the ATM deals in May. Looking at the overall follow-on equity market in 2012, there have been 479 Follow-On transactions, with ATM comprising 18% of all shelf takedowns this year.

About ATMs

ATMs are a type of shelf-based (S-3) offering which provides a public issuer the ability to sell publicly traded shares at the prevailing market price at the time and amount of its choosing. Issuers have control over the timing and size of transactions and can modify parameters as desired.

About MLV & Co.

MLV is a boutique investment bank and institutional broker-dealer focused on providing independent financial advice and unique capital markets expertise to corporate and institutional clients in capital intensive industries such as healthcare, energy, natural resources, and real estate. With a focus on raising money efficiently for clients, MLV has been the market leader in At-the-Market transactions for both common and preferred equity for the past three years.  

Prior to forming MLV & Co., MLV principals had originated approximately 40 ATM transactions and raised over $6 billion in equity capital through at-the-market issuance. Since MLV's inception in January 2010 through June 30 2012, MLV has been the lead underwriter on 65 ATMs totaling nearly $2 billion, surpassing every other investment bank during this period. 

MLV believes that this success is due to:

• its ease of implementation
• the alignment of its interests with those of the issuer and
• the quality of its trading execution

MLV is a member of FINRA and the SIPC.

Company Contact:
Randy Billhardt
(212) 542-5882

Press Contact:
Steve DiMattia
(646) 695-2881

SOURCE MLV & Co.

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