William Blair & Company

Janux Therapeutics Announces Pricing of $296.5 Million Underwritten Public Offering of Common Stock and Pre-Funded Warrants

Retrieved on: 
Thursday, February 29, 2024

The aggregate gross proceeds to Janux from the offering, before deducting underwriting discounts and commissions and other estimated offering expenses and excluding the exercise of any pre-funded warrants, are expected to be approximately $296.5 million.

Key Points: 
  • The aggregate gross proceeds to Janux from the offering, before deducting underwriting discounts and commissions and other estimated offering expenses and excluding the exercise of any pre-funded warrants, are expected to be approximately $296.5 million.
  • In addition, Janux has granted the underwriters a 30-day option to purchase up to an additional 956,450 shares of its common stock.
  • All of the shares to be sold in the offering are to be sold by Janux.
  • The offering is expected to close on or about March 4, 2024, subject to customary closing conditions.

Janux Therapeutics Announces Proposed Public Offering of Common Stock

Retrieved on: 
Tuesday, February 27, 2024

Janux Therapeutics, Inc. (Nasdaq: JANX) (Janux), a clinical-stage biopharmaceutical company developing a broad pipeline of novel immunotherapies by applying its proprietary technology to its Tumor Activated T Cell Engager (TRACTr) and Tumor Activated Immunomodulator (TRACIr) platforms, today announced that it has commenced an underwritten public offering of $175.0 million of shares of its common stock.

Key Points: 
  • Janux Therapeutics, Inc. (Nasdaq: JANX) (Janux), a clinical-stage biopharmaceutical company developing a broad pipeline of novel immunotherapies by applying its proprietary technology to its Tumor Activated T Cell Engager (TRACTr) and Tumor Activated Immunomodulator (TRACIr) platforms, today announced that it has commenced an underwritten public offering of $175.0 million of shares of its common stock.
  • In addition, Janux expects to grant the underwriters a 30-day option to purchase up to an additional $26.25 million of shares of its common stock at the public offering price, less the underwriting discounts and commissions.
  • All of the shares to be sold in the offering are to be sold by Janux.
  • The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.

Prime Pensions Announces Strategic Investment from Lightyear Capital for Next Phase of Growth

Retrieved on: 
Monday, February 26, 2024

Prime Pensions, LLC (“Prime Pensions” or the “Company”), one of the fastest-growing independent providers of retirement plan compliance and administration services, announced today that Lightyear Capital LLC (“Lightyear”) has made a strategic investment in the Company.

Key Points: 
  • Prime Pensions, LLC (“Prime Pensions” or the “Company”), one of the fastest-growing independent providers of retirement plan compliance and administration services, announced today that Lightyear Capital LLC (“Lightyear”) has made a strategic investment in the Company.
  • Since its founding in 2012, Prime Pensions has experienced strong growth through a combination of organic initiatives and acquisitions.
  • “We are excited to welcome Prime Pensions to our portfolio,” said Mark Vassallo, Managing Partner at Lightyear.
  • “Our investment in Prime Pensions reflects the intersection of two long-term Lightyear investment themes: the growing need for independent retirement advice and increasing reliance on compliance solutions.

LPL Financial to Acquire Atria Wealth Solutions

Retrieved on: 
Tuesday, February 13, 2024

SAN DIEGO, Feb. 13, 2024 (GLOBE NEWSWIRE) -- LPL Financial Holdings Inc. (NASDAQ: LPLA) (together with its subsidiaries, including LPL Financial LLC, “LPL Financial” or “LPL”) today announced that the firm has entered into a definitive purchase agreement to acquire Atria Wealth Solutions, Inc., (“Atria”), a wealth management solutions holding company headquartered in New York.

Key Points: 
  • SAN DIEGO, Feb. 13, 2024 (GLOBE NEWSWIRE) -- LPL Financial Holdings Inc. (NASDAQ: LPLA) (together with its subsidiaries, including LPL Financial LLC, “LPL Financial” or “LPL”) today announced that the firm has entered into a definitive purchase agreement to acquire Atria Wealth Solutions, Inc., (“Atria”), a wealth management solutions holding company headquartered in New York.
  • “Atria has built a great community of advisors and institutions, led by their client-centered culture,” said Dan Arnold, LPL Financial president and chief executive officer.
  • The broker-dealers include two with a focus on supporting banks and credit unions — CUSO Financial Services and Sorrento Pacific Financial – and five that support independent financial professionals — Cadaret Grant, NEXT Financial Group, SCF Securities, Western International Securities and Grove Point Financial.
  • In particular, LPL Financial can provide no assurance that the assets reported as serviced by financial advisors affiliated with Atria (“Atria Advisors”) will translate into assets serviced by LPL Financial, that Atria Advisors will transition registration to LPL Financial, that institutions served by Atria or Atria Advisors (“Atria Institutions”) will join LPL or that the benefits that are expected to accrue to LPL Financial, Atria and their respective advisors and stockholders as a result of the transaction described herein will materialize.

Alto Neuroscience Announces Closing of Upsized Initial Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additional Shares

Retrieved on: 
Tuesday, February 6, 2024

Alto Neuroscience, Inc. (“Alto”) (NYSE: ANRO) today announced the closing of its previously announced upsized initial public offering of 9,246,000 shares of common stock, which includes the exercise in full by the underwriters of their option to purchase 1,206,000 additional shares, at a public offering price of $16.00 per share.

Key Points: 
  • Alto Neuroscience, Inc. (“Alto”) (NYSE: ANRO) today announced the closing of its previously announced upsized initial public offering of 9,246,000 shares of common stock, which includes the exercise in full by the underwriters of their option to purchase 1,206,000 additional shares, at a public offering price of $16.00 per share.
  • The aggregate gross proceeds to Alto from the offering were approximately $147.9 million before deducting underwriting discounts and commissions and other offering expenses payable by Alto.
  • All of the shares of common stock were offered by Alto.
  • Alto’s common stock is listed on the New York Stock Exchange under the ticker symbol “ANRO.”
    Jefferies, TD Cowen, Stifel and William Blair acted as joint book-running managers for the offering.

Baker Tilly Secures Strategic Investment Led by Hellman & Friedman

Retrieved on: 
Monday, February 5, 2024

Leading advisory CPA firm Baker Tilly US, LLP (“Baker Tilly”) today announces a strategic investment from private equity firms Hellman & Friedman (“H&F”) and Valeas Capital Partners (“Valeas”).

Key Points: 
  • Leading advisory CPA firm Baker Tilly US, LLP (“Baker Tilly”) today announces a strategic investment from private equity firms Hellman & Friedman (“H&F”) and Valeas Capital Partners (“Valeas”).
  • The investment, estimated to close in early June 2024, recognizes Baker Tilly’s outstanding track record of value creation and marks the largest private equity investment in the US CPA sector to date.
  • Baker Tilly US, LLP will operate as a separate legal entity pursuant to regulatory and independence requirements.
  • Following the restructuring, both firms will remain partnerships, with all partners holding equity alongside H&F and Valeas in Baker Tilly Advisory Group, LP.

Compass Diversified Completes Partnership with Leading “Better-for-You” Feminine Care Brand The Honey Pot Company

Retrieved on: 
Thursday, February 1, 2024

WESTPORT, Conn., Feb. 01, 2024 (GLOBE NEWSWIRE) -- Compass Diversified (NYSE: CODI) (“CODI” or the “Company”), an owner of leading middle market businesses, today announced the completion of the Company’s previously announced partnership with The Honey Pot Company, LLC (“The Honey Pot Co.”), pursuant to an agreement entered into on January 14, 2024.

Key Points: 
  • WESTPORT, Conn., Feb. 01, 2024 (GLOBE NEWSWIRE) -- Compass Diversified (NYSE: CODI) (“CODI” or the “Company”), an owner of leading middle market businesses, today announced the completion of the Company’s previously announced partnership with The Honey Pot Company, LLC (“The Honey Pot Co.”), pursuant to an agreement entered into on January 14, 2024.
  • Today, The Honey Pot Co. provides a complete feminine care system – powered by plant-derived ingredients and clinically tested formulas – with a diverse set of products across the feminine hygiene, menstrual, consumer health and sexual wellness categories.
  • The Honey Pot Co.’s co-founders and management team invested alongside CODI and will retain a significant minority stake in the business.
  • “We are excited to have completed our partnership with The Honey Pot Co. and look forward to working with Beatrice and her talented team,” said Elias Sabo, CEO of Compass Diversified.

Alto Neuroscience Announces Pricing of Upsized Initial Public Offering

Retrieved on: 
Friday, February 2, 2024

Alto Neuroscience, Inc. (“Alto”) (NYSE: ANRO) today announced the pricing of its upsized initial public offering of 8,040,000 shares of common stock at a public offering price of $16.00 per share.

Key Points: 
  • Alto Neuroscience, Inc. (“Alto”) (NYSE: ANRO) today announced the pricing of its upsized initial public offering of 8,040,000 shares of common stock at a public offering price of $16.00 per share.
  • The aggregate gross proceeds to Alto from the offering are expected to be approximately $128.6 million before deducting underwriting discounts and commissions and other offering expenses payable by Alto.
  • In addition, Alto has granted the underwriters a 30-day option to purchase up to an additional 1,206,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions.
  • Jefferies, TD Cowen, Stifel and William Blair are acting as joint book-running managers for the offering.

H.I.G. Capital Announces the Sale of Cardinal Logistics

Retrieved on: 
Thursday, February 1, 2024

Capital (“H.I.G.”), a leading global alternative investment firm with $60 billion of capital under management, is pleased to announce the sale of its portfolio company, Cardinal Logistics (“Cardinal” or the “Company”), to Ryder System, Inc. (“Ryder”) (NYSE: R).

Key Points: 
  • Capital (“H.I.G.”), a leading global alternative investment firm with $60 billion of capital under management, is pleased to announce the sale of its portfolio company, Cardinal Logistics (“Cardinal” or the “Company”), to Ryder System, Inc. (“Ryder”) (NYSE: R).
  • Founded in 1997 and headquartered in Concord, NC, Cardinal provides fully outsourced transportation and logistics solutions to customers across diverse end markets.
  • Cardinal enhances operating efficiencies and delivers exceptional service to its customer base.
  • Tom Hostetler, Cardinal’s CEO, said, “We appreciate H.I.G.’s value-added partnership and investment in Cardinal.

Science 37 to be Acquired by eMed, Expanding Access to Patients and Accelerating Enrollment

Retrieved on: 
Monday, January 29, 2024

The transaction, which has been unanimously approved by Science 37 Board of Directors, is valued at an equity value of approximately $38 million and will be structured as an all-cash tender offer to acquire all outstanding shares of Science 37.

Key Points: 
  • The transaction, which has been unanimously approved by Science 37 Board of Directors, is valued at an equity value of approximately $38 million and will be structured as an all-cash tender offer to acquire all outstanding shares of Science 37.
  • “After an extensive review of opportunities available to Science 37, we believe that eMed provides the greatest value to our stockholders, customers, patients, and employees” said David Coman, Chief Executive Officer at Science 37.
  • Upon completion of the transaction, Science 37 will become a privately held company and shares of Science 37 common stock will no longer be listed on any public market.
  • is serving as exclusive financial advisor to Science 37, and Thompson Hine LLP is serving as legal advisor.