03.01.2017 Secondary Announcement

IPOBoutique.Com rates secondary offerings to hit the tape with a ‘BUY’, ‘NEUTRAL’ or ‘AVOID’ rating. Senior Managing Partner Scott Sweet maintains a track record for all secondary’s he’s issued with a ‘BUY’ rating.

Company: AXT, Inc.
Symbol: AXTI
Price: Last trade $7.50
Trade Date: 3/2
Shares: 3.3 million
Re-offer=Subscription Needed
Underwriter(s) Needham & Co.
Rating=Subscription Needed

Company: Ares Management
Symbol: ARES
Price: Last Trade $22.00
Trade Date: 3/2
Shares: 7.5 million
Re-offer=Subscription Needed
Underwriter(s) Wells Fargo Securities, BofA Merrill Lynch, Morgan Stanley, UBS Securities LLC and Goldman Sachs & Co
Co-Manager: Barclays Capital Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Keefe, Bruyette & Woods, Inc., RBC Capital Markets, LLC and SunTrust Robinson Humphrey, MUFG Securities Americas, SMBC Nikko Securities America
Rating=Subscription Needed

Company: Ashford Hospitality Prime
Symbol: AHP
Price: Last Trade $12.90
Trade Date: 3/2
Shares: 5.75 million
Re-offer=Subscription Needed
Underwriter(s) UBS Investment Bank, Morgan Stanley
Co-Manager: Baird, Canaccord Genuity, Credit Agricole CIB, FBR, Janney Montgomery Scott, JMP Securities
Rating=Subscription Needed
Note: 1.15 mm shares of convertible preferred stock

Company: Kratos Defense & Security Solutions
Symbol: KTOS
Price: Last Trade $8.03
Trade Date: 3/2
Shares: 7.5 million
Re-offer=Subscription Needed
Underwriter(s) Canaccord Genuity, B. Riley & Co.
Rating=Subscription Needed