Secondaries Announced 4.24.17

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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. 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: TrueCar, Inc.
Symbol: TRUE
Price: Last Trade $15.26
Trade Date 4/27
Shares: 8.5 million
Underwriter(s) Goldman Sachs & Co., J.P. Morgan, RBC Capital Market, JMP Securities
Co-Manager(s) B Riley and Co., Craig Hallum Capital, Stephens Inc., Loop Capital
Rating = Subscription Needed

Company: ContraVir Pharmaceuticals, Inc.
Symbol: CTRV
Price: Last Trade $1.18
Re-offer: Subscription Needed
Trade Date 4/25
Shares: 12 million
Underwriter(s) Canaccord Genuity
Rating = Subscription Needed
**Warrants to be issued separately**

Company: Karyopharm Therapeutics Inc.
Symbol: KPTI
Price: Last Trade $11.31
Re-offer: Subscription Needed
Trade Date 4/25
Shares: 3.53 million ($40 million raise)
Underwriter(s) Cantor Fitzgerald
Rating = Subscription Needed

Company: SiteOne Landscape Supply
Symbol: SITE
Price: Last Trade $48.55
Trade Date 4/26
Shares: 8.5 million
Underwriter(s) Deutsche Bank Securities, Goldman Sachs & Co., UBS Investment
Co-Manager(s): Baird, Barclays, RBC, SunTrust Robinson, William Blair, ING, HSBC, Natixis, SMBC Nikko, Mischler Financial Group
Rating = Subscription Needed

Company: Ichor Holdings
Symbol: ICHR
Price: Last Trade $18.93
Trade Date 4/28
Shares: 4.5 million
Underwriter(s) Deutsche Bank, Stifel
Co-Manager(s) RBC Capital Markets, Cowen and Company, Needham & Company
Rating = Subscription Needed

Company: Marrone Bio Innovations, Inc
Symbol: MBII
Price: Last Trade $1.75
Underwriter(s) National Securities Corporation
Rating = Subscription Needed