VC-backed Mirna Therapeutics debuts IPO
Austin, Texas-based Mirna Therapeutics Inc, a biopharmaceutical company focused on developing cancer-treating drugs, has raised almost $44 million for its IPO after pricing its 6.25 million shares at $7 per share. The stock began trading Thursday on the NASDAQ under the ticker symbol “MIRN.” Citigroup and Leerink Partners are the lead underwriters. Mirna’s backers included Sofinnova Ventures, New Enterprise Associates, Pfizer Ventures, Osage University Partners and Correlation Ventures. PRESS RELEASE AUSTIN, Texas–(BUSINESS WIRE)–Mirna Therapeutics, Inc., a clinical-stage biopharmaceutical company developing a broad pipeline of microRNA-based oncology therapeutics, today announced the pricing of its initial public offering of 6,250,000 shares of common stock at a public offering price of $7.00 per share. The shares are expected to begin trading on The NASDAQ Global Market under the ticker symbol “MIRN” on October 1, 2015. In addition, Mirna has granted the underwriters a 30-day option to purchase up to an additional 937,500 shares of common stock at the initial public offering price to cover over-allotments, if any. The offering is expected to close on October 6, 2015 subject to customary closing conditions. Citigroup and Leerink Partners are acting as joint book-running managers for the proposed offering. Oppenheimer & Co. and Cantor Fitzgerald & Co. are acting as co-managers. A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on September 30, 2015. The offering is being made only by means of a prospectus forming part of the effective registration statement. A copy of the final prospectus relating to these securities will be filed with the SEC and may be obtained, when available, from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at prospectus@citi.com or by phone at (800) 831-9146 or from Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by email at syndicate@leerink.com or by phone at (800) 808-7525. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Mirna Therapeutics, Inc. Mirna is a clinical-stage biopharmaceutical company developing a broad pipeline of microRNA-based oncology therapeutics and is the first to establish clinical proof-of-concept for a microRNA replacement therapy for cancer. Mirna’s lead product candidate, MRX34, a mimic of naturally occurring microRNA-34 (miR-34), is currently being studied in a Phase 1 clinical trial in patients with primary liver cancer, advanced solid tumors and hematological malignancies. miR-34 is one of the most widely published microRNAs and is considered a key regulator of multiple oncogenes across key oncogenic pathways, with the capacity to regulate more than 30 different oncogenes and repress the immune checkpoint signaling molecule PD-L1. The potential capacity to simultaneously affect multiple pathways and processes that are critical to cancer cell viability may make mimics of tumor suppressor microRNAs potent anti-cancer agents and less susceptible to drug resistance. Mirna plans to develop MRX34 as a monotherapy and in combination with other therapeutic modalities, such as targeted therapies and immuno-oncology agents. The company was founded in 2007 and is located in Austin, Texas. For more information, visit www.mirnarx.com.
Neiman Marcus leaves IPO bankers hanging: Reuters
(Reuters) — Investment bankers put on their best business attire to pitch luxury department store operator Neiman Marcus Group Inc for underwriter roles in an initial public offering. Yet more than a month after their beauty parade, banks are still in the dark. At stake for bankers are not just tens of millions of dollars in underwriting fees, but assignments in what was expected to be one of this year’s biggest and most high-profile IPOs in the United States. “For a marquee name such as Neiman Marcus, it is not just the fees you generated, but the ability to leverage that name. Everybody knows the name Neiman Marcus, whether you shop there or not,” said Timothy Golomb, executive director at Dresner Corporate Services, an investor relations and IPO advisory firm. Neiman Marcus’ delay in handing out roles finds IPO bankers already on the edge, with many of their deals having frozen due to the stock market turmoil that started last month. Among other high-profile IPOs that are waiting in wings are Spanish language broadcaster Univision Holdings Inc and payments processor First Data Corp. While Neiman Marcus has not provided a reason for the holdup to banks, carrying out underwriter interviews without following up with appointments is rare in investmentbanking, according to people familiar with the matter who requested anonymity to discuss the matter. “It’s like getting engaged without getting married,” one banking source said. Neiman Marcus, which also operates under the Bergdorf Goodman and MyTheresa brands, registered with the U.S. Securities and Exchange Commission on Aug. 4 for an IPO, close to two years after private equity firm Ares Management LLC (ARES.N) and Canada Pension Plan Investment Board acquired it for $6 billion. Earlier this month, Neiman Marcus reported that its adjusted earnings before interest, tax, depreciation and amortization were $710.6 million in the 12 months to Aug. 1, slightly up from $698.4 million the year prior.
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Neiman Marcus leaves IPO bankers hanging: Reuters
Teridion announces funding
San Francisco-based Teridion announced it has raised a $15 million Series B round of financing led by JVP, Magma and Singtel Innov8. The company, which provides cloud-based networking services, has now raised $20 million in total funding. Jeff Karras, managing director at Singtel Innov8, has joined the board.
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Teridion announces funding
Energy Transfer to buy rival pipeline company Williams Cos: Reuters
(Reuters) — Pipeline company Energy Transfer Equity LP (ETE.N) said it would buy Williams Cos Inc (WMB.N) in a cash-and-stock deal valued at about $37.7 billion, including debt. Energy Transfer’s offer of $43.50 per share represents a premium of 4.6 percent to Williams’ close on Friday. Williams stockholders electing to receive stock will get 1.8716 Energy Transfer shares for each Williams share held.
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Energy Transfer to buy rival pipeline company Williams Cos: Reuters
Cotton Creek Capital exits Graco
Cotton Creek Capital has sold Graco Supply & Integrated Services, a provider of chemical products and supply chain services. No financial terms wre disclosed. As a result of the transaction, Graco’s management team will continue to lead the company. PRESS RELEASE DALLAS, TX–(Marketwired – Sep 24, 2015) – Cotton Creek Capital is pleased to announce the sale of its portfolio company, Graco Supply & Integrated Services. The transaction represents the culmination of a partnership between Cotton Creek Capital and company management in the execution of a growth and expansion strategy in the aerospace chemicals distribution market. During its ownership by Cotton Creek Capital, Graco was transformed from an established regional distributor to a leading national provider of chemical products and supply chain services, serving a broad array of OEM, Tier 1 and Tier 2 commercial aviation, general aviation and military customers. Cotton Creek Capital assisted in the company’s development of strategic partnerships, vendor initiatives, and sales processes, including investment in value-added capabilities and capacity, including two new facilities and significant enhancements at existing facilities. As a result, revenue increased approximately 50% and EBITDA increased approximately 150% over Cotton Creek Capital’s investment period. Following the sale, Graco will continue to be led by its existing management team. About Graco Supply & Integrated Services Founded in 1959, Graco is a leading value-added distributor of chemicals, specialty materials, consumables and related services to the aerospace and defense industries. The company’s extensive product line card consists of paints, sealants, adhesives, surface treatments, composite materials and other shop consumables used in the manufacture and maintenance, repair and overhaul of commercial and military aircraft. The company also provides value-added services including custom repackaging, temperature-sensitive material handling, tinting and supply chain management capabilities. For more information on Graco please visit www.gracosupply.com. About Cotton Creek Capital Cotton Creek Capital is a Texas-based private equity firm focused on investing in and growing established lower middle market companies in manufacturing, value-added distribution, industrial, specialty chemical, business services, healthcare services and consumer staples. The firm invests in companies with enterprise values between $15 million and $200 million in transactions ranging from buyouts, recapitalizations, buy-and-builds to corporate divestitures. Cotton Creek Capital has offices in Dallas, Fort Worth, and Austin and is affiliated with Brownlie & Braden, LLC, a provider of financial advisory services to high net worth families for over 20 years. For further information, visit Cotton Creek’s website at www.cottoncreekcapital.com.
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Cotton Creek Capital exits Graco
Lone Star raises offer for UK property firm Quintain: Reuters
U.S. private equity firm Lone Star raised its offer for Quintain Estate and Development Plc (QED.L) to 745 million pounds ($1.13 billion) on Friday, sending the British property firm’s shares up about 7 percent. Lone Star’s revised offer comes a day after The Times reported that activist shareholder Elliott Capital Advisers had taken control of a 12.9 percent holding in Quintain and felt the original offer undervalued the company. The new offer represents a 10 pence per share increase over Lone Star’s original offer and a premium of about 31.8 percent to Quintain’s closing price on the day before the first offer was made. Lone Star had in July made a 700-million-pound offer to buy Quintain, hoping to gain access to one of London’s few remaining large-scale development opportunities. (Reporting by Esha Vaish in Bengaluru; Editing by Anupama Dwivedi)
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Lone Star raises offer for UK property firm Quintain: Reuters
