NEW YORK, Sept. 17, 2013 /PRNewswire/ -- Brinson Patrick , a division of Meyers Associates LP, reported today that U.S. life sciences companies raised $108 million through ATMs in the second quarter of 2013, compared to $50 million in the second quarter of 2012. A total of $285 million was raised by life sciences companies in the first half of 2013, which is a record high for ATM usage in the first half of a year.
Companies whose ATMs were active in the second quarter included: Coronado Biosciences, Inc. (NASDAQ: CNDO), Burlington, MA; Pacific Biosciences of California, Inc. (NASDAQ: PACB), Menlo Park, CA; Peregrine Pharmaceuticals, Inc. (NASDAQ: PPHM), Tustin, CA; Raptor Pharmaceuticals, Inc. (NASDAQ: RPTP), Novato, CA.
"The biotech and pharmaceutical industries continue to raise record amounts of capital with ATM offerings," said Todd Wyche, President of Brinson Patrick. "An increasing number of companies are realizing the benefits of having an ATM in their financial toolkits."
An ATM provides an efficient means of raising equity capital over time by enabling a publicly traded company to tap into the existing secondary market for its shares on an as-needed basis. With an ATM, an exchange-listed company incrementally sells newly issued shares into the trading market through a designated broker-dealer at prevailing market prices, rather than via a traditional underwritten offering of a fixed number of shares at a fixed price all at once. ATMs are also generally less expensive and less complicated to execute than traditional equity offerings and do not require a lot of executive time.About Brinson Patrick Brinson Patrick Securities Corporation recently announced that its professionals have entered into agreements with the boutique investment banking firm Meyers Associates, L.P. to create a newly formed group to be known as " Brinson Patrick, a division of Meyers Associates, LP." The new division will offer a broad array of corporate finance services, including ATM offerings. For more information, please read the press release by clicking here. Brinson Patrick draws on a 17-year track record of employing the DOCS® (Dynamic Offering of Common Stock) at-the-market (ATM) financing facility to raise the capital for clients as they need it. The DOCS® ATM is a low-profile equity offering appropriate for publicly traded companies across multiple industries and market capitalizations. It has been successfully utilized by companies in the energy, life sciences, technology, real estate, financial services and hospitality industries with market capitalizations that range from $50 million to over $1 billion. SOURCE Brinson Patrick
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV