Secondaries Announced 11.7.17

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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

Company: Allegheny Technologies Incorporated
Symbol: ATI
Price: Last Trade $25.47
Trade Date: 11/8
Shares: 17 million
Re-Offer Range: Subscription Needed
Underwriter(s) : Goldman Sachs
Description: ATI is a global manufacturer of technically advanced specialty materials and complex components. With revenue of $3.4 billion for the twelve month period ending September 30, 2017, our largest market is aerospace & defense, particularly jet engines.
Rating = Subscription Needed
SEC Link:

Company: Redhill Biopharma
Symbol: RDHL
Price: Last Trade $7.50
Trade Date: 11/8
Shares: 2.7 million ($15 million cash raise)
Re-Offer Range: Subscription Needed
Underwriter(s) : Cantor Fitzgerald, Nomura
Co-Manager(s): SMBC Nikko Securities
Description: They are a specialty biopharmaceutical company, primarily focused on the development and commercialization of late clinical-stage, proprietary, orally-administered, small molecule drugs for the treatment of gastrointestinal and inflammatory diseases and cancer.
Rating = Subscription Needed

Company: Orion Engineered Carbons SA
Symbol: OEC
Price: Last Trade $24.25
Trade Date: 11/8
Shares: 10 million
Re-Offer Range: Subscription Needed
Underwriter(s) : Morgan Stanley
Description: Orion is a worldwide supplier of Carbon Black. We produce a broad range of Carbon Blacks that include high-performance Specialty Gas Blacks, Furnace Blacks, Lamp Blacks, Thermal Blacks and other Carbon Blacks that tint, colorize and enhance the performance of polymers, plastics, paints and coatings, inks and toners, textile fibers, adhesives and sealants, tires, and mechanical rubber goods such as automotive belts and hoses.
Rating = Subscription Needed

Company: AAC Holdings, Inc. – Block
Symbol: AAC
Price: Last Trade $11.07
Trade Date: 11/8
Shares: 0.7 million
Re-Offer Range: Subscription Needed
Underwriter(s) : Subscription Needed
Description: AAC Holdings, Inc. provides inpatient substance abuse treatment services for individuals with drug and alcohol addiction in the United States. Its therapy services include motivational interviewing, cognitive behavioral therapy, rational emotive behavior therapy, dialectical behavioral therapy, solution-focused therapy, eye movement desensitization and reprocessing, and systematic family intervention services.
Rating = Subscription Needed

Company: Solaris Oilfield Infrastructure
Symbol: SOI
Price: Last Trade $17.87
Trade Date: 11/10
Shares: 7 million
Underwriter(s) : Credit Suisse, Goldman Sachs
Description: They are an independent provider of supply chain management and logistics solutions designed to drive efficiencies and reduce costs for the oil and natural gas industry.
Rating = Subscription Needed

Company: American Axle & Manufacturing Holdings, Inc.
Symbol: AXL
Price: Last Trade $17.91
Trade Date: 11/8
Shares: 15 million
Re-Offer Range: Subscription Needed
Underwriter(s) : Deutsche Bank
Description: AAM is a premier, global leader in design, engineering, validation and manufacturing of driveline, metal forming, powertrain, and casting technologies for automotive, commercial and industrial markets.
Rating = Subscription Needed

Company: OneMain Holdings, Inc. – Block
Symbol: OMF
Price: Last Trade $27.81
Trade Date: 11/8
Shares: 10 million
Re-Offer Range: Subscription Needed
Underwriter(s) : Morgan Stanley
Description: OneMain Holdings, Inc. is a leading consumer finance company providing loan products to customers through its nationwide branch network and the internet.
Rating = Subscription Needed