Overview
- This course discusses the various forms of equity capital and the options available to public and private companies. Also covered are syndicate structure, gross spread, details of the IPO process and follow-on offerings.
- What is equity capital
- Types of equity and liquidity preference
- Relative cost of equity vs. other financing alternatives
- Equity options available to public and private companies
- Syndicate structure
- Gross spread (management fee, underwriting fee, selling concession)
- Overallotment option (“greenshoe”)
- Equity capital markets overview
- Origination vs. syndicate
- Private placements overview
- PIPE overview
- IPO considerations, process and modeling
- Why pursue an IPO vs. sale
- Overview of IPO process from pitch to closing including junior banker responsibilities
- IPO modeling, valuation and discounts
- Follow-on execution methodologies
- What is equity capital