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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.
Company: Chatham Lodging
Symbol: CLDT
Price: Last Trade $22.59
Trade Date: 11/7
Shares: 5 million
Re-Offer Range: Subscription Needed
Underwriter(s) : Barclays
Description: Chatham Lodging Trust is a self-advised, publicly-traded real estate investment trust focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels.
Rating = Neutral
Company: Voyager Therapeutics
Symbol: VYGR
Price: Last Trade $16.54
Trade Date: 11/8
Shares: 4.54 million ($75 million cash raise)
Underwriter(s) : Morgan Stanley, Cowen
Description: Voyager Therapeutics is a clinical-stage gene therapy company focused on developing life-changing treatments for severe neurological diseases.
Rating = Subscription Needed
Company: Cadence BanCorp
Symbol: CADE
Price: Last Trade $25.46
Trade Date: 11/9
Shares: 9.5 million
Underwriter(s) : Goldman Sachs & Co., J.P. Morgan
Co-Manager(s): Baird, Keefe Bruyette & Woods, Raymond James, RBC, Sandler O’Neill, Stephens, PWP Securities
Description: They are a full service commercial bank focused on building long-lasting relationships with our customers.
Rating = Subscription Needed
Company: KNOT Offshore Partners LP
Symbol: KNOP
Price: Last Trade $23.25
Trade Date: 11/7
Shares: 3 million
Re-Offer Range: Subscription Needed
Underwriter(s) : BofA Merrill Lynch
Description: They are a limited partnership formed to own, operate and acquire shuttle tankers under long-term charters, which they define as charters of five years or more.
Rating = Subscription Needed