Jefferies

Actionable Ideas for Companies and Sponsors

144A Equity Private Placements Provide Access to Sizeable Institutional Capital

144A equity private placements are sales of unregistered stock to institutional investors, where the issuer agrees to complete an IPO or listing within 12-24 months after the private placement. The 144A structure provides issuers with the ability to access the institutional equity market in size – typically $200 million to $1+ billion – without the SEC review and delay. For private equity sponsors and private company business owners, 144A offerings provide institutional equity capital to facilitate portfolio acquisitions, add-on acquisitions, organic growth prior to becoming a public company or as an exit alternative to a corporate sale.

Jefferies recently hired Ken Slosser to run our 144A business within Equity Capital Markets. Ken previously ran investment banking at FBR, which specialized in 144A, and during Ken’s 21 year tenure at FBR, FBR was the dominant market leader in 144A offerings, executing 90+ 144A bookrun offerings raising $20+ billion in proceeds.