Record Use of At-the-Market (ATM) Offerings Continues in 2013 with $161
Million Raised by U.S. Life Sciences Companies in First Quarter, Reports
- Quarter-Over-Quarter Increase is 25 Percent vs. $129 Million Raised by Life
Sciences Companies in the Fourth Quarter of 2012 -
NEW YORK, May 28, 2013
NEW YORK, May 28, 2013 /PRNewswire/ --Brinson Patrick Securities Corporation,
a boutique investment bank specializing in at-the-market (ATM) offerings,
reported today that U.S. life sciences companies raised $161 million through
ATMs in the first quarter of 2013, compared to $112 million in the first
quarter of 2012.
(Logo: http://photos.prnewswire.com/prnh/20130429/NY02685LOGO )
The $161 million raised is a new record for quarterly ATM usage by U.S. life
sciences companies. The proceeds raised are 25% more than the previous record
of $129 million, which was raised in the fourth quarter of 2012. Life sciences
companies whose ATMs were active in the first quarter included: Delcath
Systems, Inc. (NASDAQ: DCTH), New York, NY; Avanir Pharmaceuticals, Inc.
(NASDAQ: AVNR), Aliso Viejo, CA; Raptor Pharmaceuticals, Inc. (NASDAQ: RPTP),
Novato, CA; Coronado Biosciences, Inc. (NASDAQ: CNDO), Burlington, MA.
"We are continuing to see new records in ATM usage for life sciences
companies," said Todd Wyche, CEO of Brinson Patrick. "This is the third
consecutive quarter where the proceeds raised set a record high for the
An ATM provides an efficient means of raising equity capital over time by
enabling a publicly traded company to tap into the existing secondary market
for its shares on an as-needed basis. With an ATM, an exchange-listed company
incrementally sells newly issued shares into the trading market through a
designated broker-dealer at prevailing market prices, rather than via a
traditional underwritten offering of a fixed number of shares at a fixed price
all at once. ATMs are also generally less expensive and less complicated to
execute than traditional equity offerings and do not require a lot of
About Brinson Patrick Securities Corporation
Brinson Patrick Securities Corporation is a boutique investment bank that
employs its DOCS® (Dynamic Offering of Common Stock) at-the-market (ATM)
financing facility to raise the capital for clients as they need it. The DOCS®
ATM is a low-profile equity offering appropriate for publicly traded companies
across multiple industries and market capitalizations. It has been
successfully utilized by companies in the energy, life sciences, technology,
real estate, financial services and hospitality industries with market
capitalizations that range from $50 million to over $1 billion.
For more information about ATMs and the firm, visit
http://www.brinsonpatrick.com. To access Todd Wyche's biography and a Brinson
Patrick fact sheet click here.
Brinson Patrick is a FINRA member broker-dealer.
SOURCE Brinson Patrick Securities Corporation
Contact: Tim Studley, Brinson Patrick, (212) 453-0923,
Press spacebar to pause and continue. Press esc to stop.