Jefferies offers expertise in direct placements, private equity, private placements, IPOs, follow-on offerings, corporate stock buybacks, and convertible securities. We provide new issue underwriting and distribution to corporate clients through strong relationships with institutional investors. With a deep understanding of these markets and structures, we assist clients in accessing public and private capital across industries and the liquidity spectrum in virtually all market conditions. We are unique in our distribution and trading capabilities on the national securities exchanges and in third-market transactions. Our objective is to support the growth and future initiatives of our clients. Jefferies is ranked among the top 3 firms on Wall Street in the performance of lead-managed equity underwritings 1.