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

Williams to consider revised Energy Transfer offer: Reuters

(Reuters) — Williams Companies‘ (WMB.N) board of directors is preparing to meet as early as this week to consider a sale to oil and gas pipeline peer Energy Transfer Equity LP (ETE.N) after the latter revised its offer, according to people familiar with the matter. Energy Transfer has offered to tweak its all-stock offer for Williams, which is currently worth about $34 billion, and pay for around 15 percent of the deal with cash, the people said on Wednesday, cautioning that the exact amount of cash offered is still being negotiated. Williams’ board will meet to decide whether the company will enter final negotiations with Energy Transfer, the people said. If it decides to do so, it will later hold another board meeting to approve the deal, the people added. The deal would rank as one of this year’s largest mergers. The sources asked not to be identified because the negotiations are confidential. Energy Transfer declined to comment, while Williams did not immediately respond to a request for comment. Williams began exploring an outright sale in June after it rejected an acquisition proposal from Energy Transfer. At the time, the bid was worth $48 billion. That offer was contingent upon Williams’ canceling its plans to acquire the portion of its pipeline subsidiary Williams Partners LP (WPZ.N) that it does not already own for $14 billion. Energy Transfer and William’s share prices have dropped since then, alongside plummeting oil prices. Energy Transfer prevailed in the auction for Williams and has been trying to convince Williams to agree to a deal. Under Energy Transfer’s new offer, Tulsa, Oklahoma-based Williams shareholders would be able to elect newly issued Energy Transfer shares, or a combination of those shares and a cash consideration, the people said. Deals in the energy sector, especially oil and gas pipeline and processing companies, are turning to a more traditional corporate structure as advantages associated with a master limited partnership (MLP) wane over time. Energy Transfer would be the latest MLP to propose using a C-corporation as a way to maximize tax advantages, increase cash flows and broaden institutional interest. The sector had previously embraced the MLP structure because the tax burden is passed through to investors who receive fat yields. Because the partnership pays no taxes, it has a lower cost of capital.

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Williams to consider revised Energy Transfer offer: Reuters

Atigeo raises $18.4 mln

Atigeo said Tuesday that it has raised an $18.4 million financing round, including an investment by Ascension Ventures. Bellevue, Washington-based Atigeo is a big data company. PRESS RELEASE BELLEVUE, Wash.–(BUSINESS WIRE)–Atigeo™, a compassionate technology company and developer of the xPatterns® big data analytics platform, today announced it has secured growth financing from Ascension Ventures. Atigeo also announced the appointment of Victor Kats, managing director at Ascension Ventures, to Atigeo’s board of directors. Ascension Ventures’ investment was part of a larger investment round of $18.4 million, which included both new and current investors. “Adding Ascension Ventures further aligns us as we continue building critical healthcare applications that enable enhanced patient care, operational efficiencies and mitigate risks,” said Michael Sandoval, founder and CEO of Atigeo. “We’re also very pleased to welcome Ascension Ventures managing director and healthcare veteran, Victor Kats, to our board of directors and believe his experience will contribute to the success of our healthcare offerings.” “We observed xPatterns’ ability to turn raw data from multiple sources, structured or unstructured, into highly relevant and accurate information that can be used by our limited partners for a variety of clinical, financial and operational use cases,” said Kats. “The total time for this process took days and weeks, not months and years, which is unique and disruptive in the world of healthcare analytics. We view Atigeo as being strategic to the healthcare industry at large.” Atigeo’s xPatterns platform quickly streamlines the most cumbersome steps in data science and analytics, and unlocks insights that decision-makers can use to anticipate and solve the most complex business problems. About Atigeo Atigeo is a compassionate technology company for a wiser planet. The xPatterns™ platform, Atigeo’s flagship big data analytics product, generates knowledge from all available data to deliver previously unforeseen insights, predict outcomes, and mitigate risks. xPatterns revolutionary analysis is localized, responsive, adaptive and automated, which means organizations can quickly deploy a solution, extend existing technology investments, broadly scale and apply learnings in a timely manner to solve the most complex business problems. Atigeo serves customers across healthcare, cyber, defense, energy, and financial services. Additional information is available at atigeo.com or on Twitter and LinkedIn. About Ascension Ventures Ascension Ventures (www.ascensionventures.org), launched in 2001, is a subsidiary of Ascension, the nation’s largest Catholic and non-profit health system. Ascension Ventures’ role is to construct and manage a strategic portfolio of investments that deliver venture-level investment returns, have the potential to transform the healthcare industry and significantly enhance the experience for patients, their families and their caregivers. Ascension Ventures has three venture funds with $550 million in committed capital under management. Its limited partners include Ascension, Catholic Health Initiatives, Decatur Memorial Hospital, Dignity Health, Intermountain Healthcare, Mercy and Trinity Health.

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Atigeo raises $18.4 mln

Phynd Tech raises $1.1 mln

Phynd Technologies Inc. said Wednesday it raised $1.1 million in Series A funding led by by Dallas Venture Partners. Also participating were serial angel investor Tony Morris, as well as Phynd’s existing seed investors. Kearny, Nebraska-based Phynd is an healthcare application service provider. PRESS RELEASE KEARNEY, NE (PRWEB) SEPTEMBER 23, 2015 Phynd Technologies, Inc., a leading healthcare application service provider, announced it has secured $1.1M in Series A equity funding to accelerate the growth of its Unified Provider Management (UPM) Platform. The investment, which was oversubscribed, was led by Dallas Venture Partners, and includes participation from Boston-based serial angel investor Tony Morris, as well as all existing seed investors. This brings total investment in the company to $3.1M. Phynd will use the new funds to expand its support, sales and marketing efforts. Phynd (pronounced “find”) works with hospitals across the country, ranging from community hospitals to large academic multi-facility health systems, to create a single operational provider profile for the enterprise. This in turn improves revenue cycles and clinical communications for the organization, and also lowers the cost of managing provider data across hospital silos. Phynd’s installed customer base includes 74 hospitals, bringing the total number of physicians managed through the Phynd network to more than 240,000 or one-third of all doctors in the U.S. “Our solution has resonated with IT administrators who have to deal with bad provider data, and we have had tremendous lift this year,” said Tom White, CEO of Phynd. “We recently added six new health systems to our platform and have a growing pipeline. These funds will enable us to extend our reach while continuing to provide top notch service to our existing customers.” In conjunction with the financing, Jim Duda, Managing Partner of Dallas Venture Partners, will join the Phynd Board of Directors. “We are excited to be part of the Phynd story,” said Duda. “Phynd is part of a growing network of health IT innovators who are solving large data problems and complementary to other investments we have in this arena. Everyone deals with data integrity, and hospitals are notorious for having data in silos. Phynd is the first solution we’ve seen to offer a true single source of the truth.” About Phynd Technologies, Inc. Launched in 2013, Phynd (http://www.phynd.com) provides a Unified Provider Management (UPM) Platform that enables healthcare organizations to unify, manage, customize, and share essential provider information across their core IT systems to improve clinical outcomes and financial results. The Phynd platform is now used in over 74 hospitals enterprise-wide to speed billing, optimize the revenue cycle, streamline workflow, improve productivity, and enhance care coordination. Phynd is headquartered in Kearney, NE, with executive offices in Dallas, TX, and was created by the co-founder of Vocada. About Dallas Venture Partners Dallas Venture Partners (DVP) is a privately held investment firm with offices in Dallas and Des Moines that provides seed and early stage investment for technology entrepreneurs. DVP promotes collaboration and strives to foster long term relationships with its portfolio companies, as well as with the broader venture community. In addition to Phynd, DVP’s healthcare IT investments include Zest Health and Averify.

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Phynd Tech raises $1.1 mln