Global ECM Weekly Monitor Nov 17, 2017 – Alnylam Pharmaceuticals, Norwegian Cruise Line Holdings, Gardner Denver Holdings China Equity Capital Markets Healthcare Industrials USA by Sara - November 19, 20170 Our previous Global ECM Weekly Monitors can be found here. Alnylam Pharmaceuticals, Inc. (NasdaqGS:ALNY) Announcement Date: November 13, 2017 Gross Offering Amount: USD $700 million Price per share: $125 Lead Banks: Goldman Sachs, JP Morgan, Barclays, Barclays Nature of the issue: Follow-on Equity Offering; General Corporate Purposes Security Issued: Common Stock Overallotment: $105 million Alnylam issued 5.6 million shares of common stock at $125 per share on November 13, 2017. This represents a 3% discount from the last reported trade. The company’s stock was trading at a high of $139.98 at the end of the prior week and closed at $127.51 on November 17, 2017. Alnylam Pharmaceuticals discovers, develops, and commercializes novel therapeutics based on RNA interference (RNAi). The company has yet to make a profit as they have not received regulatory approval to market or sell any products. However, Alnylam does have various drugs in early and late stage development. Its drug pipeline provides innovative medicine focused on three areas of RNAi therapeutics including genetic medicines, cardio-metabolic diseases, and hepatic infectious diseases. If approved, these drugs could treat rare diseases and combat viral infections including hepatitis B and D. Alnylam will use the proceeds for general corporate purposes including clinical trial costs, R&D, and expected commercial expansion. The company may also repay $150 million in term loans, potential M&A, working capital requirements, and capital expenditures. The underwriters have a 30-day option period to purchase an additional 840,000 shares. Norwegian Cruise Line Holdings Ltd. (NasdaqGS:NCLH) Announcement Date: November 15, 2017 Expected Offer Date: November 16, 2017 Gross Offering Amount: USD $543.5 million Price per share: $54.35 Lead Banks: Morgan Stanley Nature of the issue: Follow-on Equity Offering Security Issued: Ordinary Shares Overallotment: Not Disclosed On November 16, 2017, shareholders Apollo and Star NCLC sold off 10 million ordinary shares of Norwegian Cruise Line Holdings (NCLH) at $54.35 through an underwritten secondary offering. The shares will be delivered to purchasers on November 20, 2017. The shares sold at a discount of 1.3%. NCLH’s share price was $55.23 at the end of the week prior and closed at $54.84 on November 217, 2017. No dilution was seen as the total amount of shares outstanding remained the same after the sale. NCLH is a cruise operator based in Miami, Florida. The company operates a fleet of 25 ships branded under Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises with over 500 destinations worldwide. NCLH will not receive any proceeds from the sale. The company’s profits have been declining since 2015, which was a concern for major shareholders such as Apollo and Star NCLC. Apollo is an alternative investment manager with $242 billion of assets under management. Star NCLC is a subsidiary of Genting HK, a leading global leisure, entertainment and hospitality company based in Hong Kong. Gardner Denver Holdings, Inc. (NYSE:GDI) Announcement Date: November 13, 2017 Expected Offer Date: November 15, 2017 Gross Offering Amount: USD $599.5 million Price per share: $27.25 Lead Banks: Goldman Sachs, Citi, KKR, Piper Jaffray, Credit Suisse, Deutsche Bank, Houlihan Lokey, JP Morgan, Robert W. Baird, Morgan Stanley, Stifel, Nicolaus & Company, William Blair & Company Nature of the issue: Follow-on Equity Offering Security Issued: Common Stock Overallotment: $89.93 million KKR sold 22 million shares of Gardner Denver Holdings at $27.25 through an underwritten secondary offering on November 15, 2017. The investment fund also granted underwriters a 30-day option to purchase an additional 3.3 million shares. The shares sold at a 1% discount. Gardner Denver was trading at $28.76 per share at the end of the prior week and closed at $30.05 on November 217, 2017. Gardner Denver is a global provider of mission-critical flow control and compression equipment and parts. They provide products and services to end-markets within industrial, energy and medical industries in over 175 countries. The company hopes to accelerate growth as there is an increasing need for efficiency and technology in industrials, growing health needs globally, and a growing need for energy & infrastructure. Gardner Denver will not receive any proceeds from the sale. Related Reading for Equity Capital Markets Equity Capital Markets Topics Dividend Policy Dividend Reinvestment Plans (DRIP) Block Trades Related Product Groups for ECM Equity Research Investment Banking Debt Capital Markets – another financing group Sales & Trading – for equity derivatives to pair with equity issues; equity sales Corporate Banking Wealth Management/Investment Advisors Buy Side/Asset Management Share on Facebook Share Share on TwitterTweet Share on LinkedIn Share Print Print