Secondaries Announced 5.16.2017

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

If having real-time alerts for secondary offerings would be an advantage to you, inquire about a subscription today!

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: Financial Institutions, Inc.
Symbol: FISI
Price: Last Trade $32.50
Trade Date 5/17
Shares: 1.23 million
Underwriter(s) Sandler O’ Neill
Co-Manager(s): Hovde Group, Piper Jaffray
Rating = Subscription Needed

Company: Formula One Group (Liberty Media Corp.)
Symbol: FWONK
Price: Last Trade $33.31
Trade Date 5/19
Shares: 35.27 million ($1.175bn raise)
Underwriter(s) Goldman Sachs, J.P. Morgan, Morgan Stanley, BofA Merrill Lynch, Barclays, Credit Suisse
Rating = Subscription Needed

Company: Alcentra Capital Corporation
Symbol: ABDC
Price: Last trade $14.03
Trade Date: 5/17
Re-offer Range: Subscription Needed
Shares: 2.9 million
Underwriter(s) Raymond James
Rating =Subscription Needed