03.06.2017 Secondary Announcement

THIS POST HAS BEEN INTENTIONALLY DELAYED TO 6PM

IPO BOUTIQUE CLIENTS and IPO BOUTIQUE SECONDARY ALERTS CLIENTS received this information to their inbox on a REAL TIME basis.

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Our Buy, Neutral or Avoid ratings of the Secondaries below are intended as a recommendation for those who buy Secondaries on a regular basis.  For example, this is not to be interpreted as a Buy recommendation in the traditional sense of adding to your stock portfolio; this is a short term (usually one day or opening trade) time period. Spot secondaries or block trades due to the very short duration of announcement to trading, may take longer to “work”, and should be judged accordingly. (the key is the pricing for spots and or blocks…even more so than scheduled secondaries)

Company:    John Bean Technologies Corporation
Symbol:     JBT
Price:    Last Trade $87.60
Trade Date:    3/8
Shares:    2 million
Underwriter(s)    BofA Merrill Lynch, J.P. Morgan, Wells Fargo Securities, Baird, BMO Capital Markets and William Blair
Rating = Subscription Needed

Company:    Hannon Armstrong Sustainable Infrastructure Capital – BLOCK
Symbol:     HASI
Price:    Last Trade $19.93
Trade Date:    3/7
Shares:    3 million
Re-offer=Subscription Needed
Underwriter(s)    BofA Merrill Lynch, Deutsche Bank Securities and Morgan Stanley
Co-Manager:    Baird, Oppenheimer & Co.
Rating = Subscription Needed

Company:    First Republic Bank – BLOCK
Symbol:     FRC
Price:    Last Trade $96.97
Trade Date:    3/7
Shares:    3 million
Re-offer=Subscription Needed
Underwriter(s)    BofA Merrill Lynch, J.P. Morgan, Morgan Stanley and UBS Investment Bank
Rating = Subscription Needed

Company:    Patrick Industries
Symbol:     PATK
Price:    Last trade $80.95
Trade Date:    3/9
Shares:    1.35 million
Underwriter(s)    BofA Merrill Lynch, Wells Fargo Securities, Baird, KeyBanc Capital Markets
Co-Manager(s):     CJS Securities, CL King & Associates, Fifth Third Securities
Rating = Subscription Needed

Company:    Asbury Automotive Group, Inc.
Symbol:     ABG
Price:    Last Trade $64.60
Trade Date:    3/7
Shares:    725-thousand
Re-offer=Subscription Needed
Underwriter(s)    Morgan Stanley
Rating = Subscription Needed

Company:    Extended Stay America, Inc.
Symbol:     STAY
Price:    Last Trade $17.27
Trade Date:    3/7
Shares:    25 million
Re-offer=Subscription Needed
Underwriter(s)    Credit Suisse, Barclays
Rating = Subscription Needed