Drew Singer
New York
News Team Lead, Deputy at Bloomberg Law. Opinions are my own.
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Articles by Drew Singer
Credit Risk Transfers: What Every Asset Manager Should Ask Before Investing
D Dechert More Dechert is the law firm that helps business leaders lead. For more than 150 years, we have advised clients on critical issues – from high-stakes litigation to first-in-market transaction structures and complex regulatory matters. Our lawyers in commercial centers worldwide are immersed in the key sectors we serve – financial services, private capital, real estate, life sciences and technology. Dechert delivers unwavering partnership so our clients can achieve unprecedented results.
Credit Risk Transfers: What Every Asset Manager Should Ask Before Investing
Credit risk transfer (CRT) transactions (also known as significant risk transfer (SRT) transactions outside the United States) are structures that market participants in the U.S., U.K., the E.U. and (increasingly) Asia use both as a form of credit risk management as well as a form of investment. For banks, government-sponsored enterprises (GSEs), regulated institutions, and other lenders, CRTs optimize regulatory capital usage, manage concentration limits and offload credit risk.
PIPEs Emerge as Clever Fundraising Tool in Dire Looking Markets
Private investments in public equity are growing in popularity as rocky markets force boardrooms to get increasingly creative in order to raise the cash they need. A year of volatile markets has limited the ability of US-listed firms to do traditional follow-on offerings, opening the door to so-called PIPEs as an alternative. The latest include a $200 million raise by Legend Biotech Corp., a $250 million sale by Enviva Inc. and a $10 million deal by Stronghold Digital Mining Inc.
Secrecy, Confidentiality Are Key to Getting Stock Deals Done Now
Bankers are increasingly using confidential talks with investors to ensure that their US initial and secondary public offerings are successful as market conditions become more challenging. At first glance, the practice seems unfair to the traders who are left out of the secret conversations. But dealmakers say the strategy is legal, when done properly, and crucial for getting deals completed in an economy that’s on the brink of a recession.
Singapore construction firm’s swings stand out among tiny IPOs in US
(April 6): In a lacklustre start to the year for equity capital markets, the initial surge in a small supplier of construction equipment from Singapore is striking. Multi Ways Holdings Ltd soared in its first day as a public company on the NYSE American exchange on Monday (April 3), making it one of the top performing stocks to debut amid the dearth of deals so far in 2023.
Semelhança entre os bancos Republic First e First Republic confunde investidores
Últimascotações Bloomberg — A brasileira Zenvia (ZENV), uma plataforma de comunicação, fez sua oferta inicial de ações (IPO, na sigla em inglês) na Nasdaq em 2021, no mesmo dia que a quase homônima Zevia (ZVIA), produtora de bebidas da Califórnia, estreou na Bolsa de Valores de Nova York. E ambas tiveram seus papeis afetados com traders confusos. Agora, outro caso homônimo, com o First Republic, está causando a venda de papéis do Republic First.
Bank with a similar name to troubled First Republic is livid that its shares have tumbled too and insists there are...
Republic First is a regional bank focused on commercial and retail customers. First Republic, meanwhile, specializes in private banking for the wealthy.
Mark Wahlberg named chief brand officer of fitness firm F45
Fitness firm F45 Training had its best trading session of the year after giving a bigger role to early backer Mark Wahlberg. The company announced Thursday the actor and singer will become F45’s chief brand officer effective immediately. Shares surged as much as 24% on the news in their biggest jump since Sept. 30. Wahlberg, who’s portrayed boxer ‘Irish’ Micky Ward in “The Fighter” and extortionist gym instructor Daniel Lugo in “Pain & Gain,” has been on the company’s board since 2019.
Stock Sales Suffer Worst First Quarter Since 2009 on Rates, SVB
US equity capital markets are having the slowest start to a year since 2009, and dealmakers fear a rebound is nowhere near. Initial public offerings and secondary stock offerings bore the brunt of first-quarter recession concerns stemming from the Federal Reserve’s aggressive rate-hike cycle and the flight to safety over fears about the banking system after the collapse of Silicon Valley Bank. This comes on the heels of a historic slowdown in 2022.
Alibaba’s breakup shows global tech firms how to unlock value
A plan to split Alibaba Group Holding into six units sent the company’s stock soaring Tuesday while introducing a potential model for global tech giants facing mounting breakup pressures. Alibaba’s American depositary receipts climbed as much as 15% on Tuesday, its best performance since June, after the company announced a plan to separate its $255 billion empire into divisions that will raise funds individually and eventually explore initial public offerings.
Alibaba Breakup Shows Global Tech Giants a Way to Unlock Value
A plan to split Alibaba Group Holding Ltd. into six units sent the company’s stock soaring Tuesday while introducing a potential model for global tech giants facing mounting breakup pressures. Alibaba’s American depositary receipts climbed as much as 15% on Tuesday, its best performance since June, after the company announced a planto separate its $255 billion empire into divisions that will raise funds individually and eventually explore initial public offerings.
Retail Investors Are Helping Small IPOs Defy This Market Turmoil
(Bloomberg) -- Retail investors are piling into stock offerings, fueling a jump in new listings by micro-cap companies in the face of a banking crisis that is sidelining bigger deals. This month, 80% of the US deal flow is from initial public offerings that raised less than $50 million, according to data compiled by Bloomberg that excludes SPACs. And those offerings are attracting small investors, not the big institutional buyers.
Propala ponuda akcija SVB primer koji pokazuje koliko vredi tajnost
Finansije 20. mart 2023, 21:43 Kolaps Silicon Valley Banka (SVB) i haos na tržištu koji je usledio mogli su da budu ublaženi da je njena poslednja ponuda akcija vredna 1,3 milijarde dolara pregovarana u većoj tajnosti, kažu stručnjaci. U stvari, Steve Maletzky, šef odeljenja za tržišta vlasničkog kapitala u kompaniji William Blair & Co., smatra da je posao propao jer je SVB javno predstavio rizik za deponente i investitore najavljujući potrebu za kapitalom.
Stock Sales Are Vanishing as Credit Suisse Fuels Contagion Fears
Equity fundraising slammed to a halt in the wake of Silicon Valley Bank’s collapse, and now the turmoil at Credit Suisse Group AGis dashing hopes for a recovery anytime soon as investors flee anything that smells like risk. Just one stock offering by a US-listed company has priced since Friday, according to data compiled by Bloomberg that excludes deals worth less than $10 million. And there have been no offerings brought by selling stockholders in that span.
El colapso del SVB afecta el acceso al crédito para empresas pequeñas
Las recientes OPI se enfrentan a un nuevo escrutinio por parte de inversionistas preocupados por el colapso de SVB Financial Group, que era el banco líder para startups. “Todos están luchando por encontrar un nuevo banco”, dijo Erik Gordon, profesor de la Escuela de Negocios Ross de la Universidad de Michigan.
SVB collapse subjects more susceptabilities amongst current US IPOs
Current IPOs are dealing with fresh analysis from capitalists worried concerning the collapse of SVB Financial Group, which was a leading financial institution for start-ups. “They’re all clambering to discover a brand-new lending institution,” claimed Erik Gordon, teacher at the University of Michigan’s Ross School of Business.
Schwab Can’t Catch a Break as SVB, Block Trade Weigh on Shares
March 10, 2023 (Bloomberg) - The worst two-day stretch since 2016 for Charles Schwab Corp. looks like a case of bad timing for the buyers behind a large block trade in the brokerage. Schwab is down 17% since a person familiar with the matter said JPMorgan was managing a block trade worth about $650 million on Thursday before the market opened.
IPOs Speed Up Their Timelines as Bankers Start to See Go Signals
February 1, 2023 (Bloomberg) - Bankers are pushing to accelerate plans for US IPOs as the market kicks off the year with a series of encouraging signs. Evidence is mounting that the Federal Reserve is successfully combating inflation. Growth stocks are outperforming, while secondary offerings are posting stronger returns. And, the Cboe Volatility Index, a closely watched measure of risk tolerance, touched its lowest level in a year in January and closed Tuesday below the critical 20 handle.
Investors Are Missing Key Earnings Data After 2022 IPO Collapse Original
Last year’s historic slowdown in initial public offerings is leaving a void of earnings data in its wake, hindering investors who want more clarityon the health of the economy and corporate balance sheets. Before the IPO market effectively shuttered in 2022, with proceeds shrinking 93% from 2021 to its lightest year in three decades, new listings were concentrated in technology and consumer-facing goods businesses.
Lionel Messi’s Clothing Line MGO Swings Again on High-Volume Wave
Recentquotes Bloomberg — MGO Global Inc. (MGOL), the manager of a clothing and lifestyle brand for football star Lionel Messi, is encountering another high-volume wave of price swings in the first day since its volatile debut. Shares briefly fell below the $5.00 initial public offering price on Tuesday after jumping to $7.10 during premarket trading. More than 12 million shares traded as of 11:20 a.m. in New York.
La línea de ropa de Messi dio un salto de 232% pero luego cayó en su debut en el mercado
MGO Global Inc., que maneja la marca de ropa y estilo de vida del astro del fútbol Lionel Messi, se triplicó con creces en su debut en el mercado estadounidense el viernes, antes de borrar por completo el alza. La acción cayó por debajo del precio de oferta de US$5,00 horas después de haber llegado a cotizar a US$16,61 —un aumento del 232%— en la primera sesión tras la oferta pública inicial de US$7,5 millones de la empresa.
Lionel Messi’s MGO Clothing Line Soars 232% in Trading Debut
MGO Global Inc., which manages the clothing and lifestyle brand for football star Lionel Messi, more than tripled in its US market debut on Friday before erasing the runup entirely. Shares fell below the $5.00 offering price hours after trading as high as $16.61 — a 232% jump — in the first session after the firm’s $7.5 million initial public offering. The stock was halted for volatility multiple times, including shortly after opening at $8.60 — a 72% surge in its first trade.
Brutal Year Smashes Share Sales in IPOs and Follow-On Issues
Initial public offerings in the US nose-dived from an all-time high, and even a late pickup in follow-on offerings couldn’t erase their worst showing in almost three decades. As 2022 fizzles to a close, 214 companies have priced IPOs to raise a combined $21.8 billion, not including secondary shares sold by investors in those listings, according to data compiled by Bloomberg. That compared with almost $335 billion in primary shares sold in 1,091 IPOs on US exchanges last year.
Follow-On Raises Pick Up in Q4 While IPO Crash Continues to End
Follow-On Raises Pick Up in Q4 While IPO Crash Continues to End (Bloomberg) -- Initial public offerings in the US nose-dived from an all-time high, and even a late pickup in follow-on offerings couldn’t erase their worst showing in almost three decades. As 2022 fizzles to a close, 214 companies have priced IPOs to raise a combined $21.8 billion, not including secondary shares sold by investors in those listings, according to data compiled by Bloomberg.
Retomada de IPOs nos EUA está nas mãos de Powell no ano que vem
Ler o artigo completo (Bloomberg) -- A atividade de abertura de capital nos EUA despencou para uma mínima histórica este ano, e uma retomada vai depender de mais clareza sobre a trajetória de juros. As ofertas públicas iniciais de ações em Nova York levantaram apenas US$ 24 bilhões em recursos até agora em 2022, o menor volume desde 1990, segundo dados compilados pela Bloomberg.
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