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.

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VC-backed Mirna Therapeutics debuts IPO

Cargill’s Black River Asset Management to split into three separate firms: Reuters

(Reuters) — Cargill Inc said on Monday that it will spin off Black River Asset Management LLC and split the hedge fund arm into three separate employee-owned firms. Black River is expected to split into firms to focus on different business streams – fixed income relative value fund, an emerging markets credit fund and a private equity group, Cargill’s spokeswoman Lori Johnson said in an email. The Wall Street Journal reported that two commodities funds focused on agriculture and energy would be moved from within Black River to a business within Cargill. Cargill, which is one of the world’s largest privately held corporations and a top commodity trader, expects to complete these transitions within the next several months. Black River’s board of directors and its senior management team have been conducting a strategic review of the hedge fund’s structure and various firm offerings. The management has just completed the full review, Johnson said. Cargill spokeswoman did not disclose the terms of the deal. The Financial Times earlier first reported that Cargill is winding down Black River Asset Management, the hedge fund arm it started in 2003. (on.ft.com/1MVOCQp) (Reporting by Aurindom Mukherjee and Sneha Banerjee in Bengaluru; Editing by Cynthia Osterman)

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Cargill’s Black River Asset Management to split into three separate firms: Reuters

Alibaba, Ant Financial invest in Paytm

Alibaba Group Holding Ltd. and Ant Financial Services Group have invested in Paytm. Financial terms weren’t announced. Paytm, of New Delhi NCR, is a mobile payment & commerce platform in India. Ant Financial previously invested in Paytm in February. Citi provided financial advice to Paytm. PRESS RELEASE September 29, 2015 02:00 AM Eastern Daylight Time HANGZHOU, China & NEW DELHI–(BUSINESS WIRE)–Alibaba Group Holding Limited (NYSE:BABA), Ant Financial Services Group and One97 Communications, the parent company of Paytm, India’s largest mobile payment & commerce platform, announced today an agreement under which Alibaba and Ant Financial have agreed to make a strategic investment in Paytm. Ant Financial made its initial investment in Paytm in February 2015 while Alibaba will become a new investor in Paytm after the completion of the transaction. The fresh capital infusion will allow Paytm to achieve scale and develop its vibrant mobile commerce and payment ecosystem in India and invest in marketing, technology and talent. Investing in Paytm will enhance the ability of Alibaba and Ant Financial to tap opportunities in India’s fast-growing mobile e-commerce marketplace and digital finance industry. Ant Financial has been developing synergies with Paytm since its initial investment in February of this year. Ant Financial’s further investment in Paytm with this transaction demonstrates the company’s confidence in India’s digital payment sector. Ant Financial and Paytm will continue to capitalize on opportunities in mobile wallet to offer Indian consumers comprehensive products and services and to tap the significant potential of the India mobile payment market. This transaction further demonstrates the commitment of Alibaba, the largest online and mobile commerce company in the world in terms of gross merchandise volume, to continue to internationalize its e-commerce business. Eric Jing, President of Ant Financial Services Group said, “Ant Financial has worked seamlessly with Paytm in the past few months and our technical teams have developed significant improvements on the user experience for Indian consumers. Ant Financial and Paytm will collaborate to capture mobile payment opportunities in India. We believe that Paytm, as a leader in this field, is best equipped to build a mobile payment ecosystem in the country.” Daniel Zhang, Chief Executive Officer of Alibaba Group said, “India is an important emerging market with strong e-commerce potential, and we look forward to partnering with Paytm to deliver innovative products and services to consumers. Supporting the success of local homegrown entrepreneurial companies has long been an important part of Alibaba Group’s globalization strategy. This investment will further expand Alibaba Group’s global footprint to India’s thriving mobile commerce market.” Vijay Shekhar Sharma, Founder and Chief Executive Officer of Paytm said, “Paytm is building India’s most dominant mobile payment and commerce ecosystem. With the Alibaba and Ant Financial partnerships, we look to bring half a billion Indians to the mainstream economy and help millions of small businesses leverage this large m-commerce opportunity. This investment by Alibaba and Ant Financial is a reaffirmation of their belief and commitment to the long term Paytm opportunity.” Citi acted as exclusive financial advisor to Paytm on this transaction. Paytm’s business has grown rapidly and robustly since Ant Financial initially invested in Paytm in February 2015. Ant Financial has also been offering strategic and technical support to the company. Paytm has recently crossed 100 million Paytm Wallet users who carry out over 75 million transactions every month. With this major achievement, Paytm has inched closer towards its larger vision of bringing half a billion Indians to the mainstream economy. About Alibaba Group Alibaba Group’s mission is to make it easy to do business anywhere. The company is the largest online and mobile commerce company in the world in terms of gross merchandise volume. Founded in 1999, the company provides the fundamental technology infrastructure and marketing reach to help businesses leverage the power of the Internet to establish an online presence and conduct commerce with hundreds of millions of consumers and other businesses. Alibaba Group’s major businesses include: • Taobao Marketplace (www.taobao.com), China’s largest online shopping destination • Tmall.com (www.tmall.com), China’s largest third-party platform for brands and retailers • Juhuasuan (www.juhuasuan.com), China’s most popular online group buying marketplace • Alitrip (www.alitrip.com), a leading online travel booking platform • AliExpress (www.aliexpress.com), a global online marketplace for consumers to buy directly from China • Alibaba.com (www.alibaba.com), China’s largest global online wholesale platform for small businesses • 1688.com (www.1688.com), a leading online wholesale marketplace in China • Aliyun (www.aliyun.com), a provider of cloud computing services to businesses and entrepreneurs About Ant Financial Services Group Ant Financial Services Group is focused on serving small and micro enterprises as well as consumers. With the vision “to turn trust into wealth,” Ant Financial is dedicated to building an open ecosystem of Internet thinking and technologies while working with other financial institutions to support the future financial needs of society. Businesses operated by Ant Financial Services Group include Alipay, Ant Fortune, Yu’e Bao, Zhao Cai Bao, Ant Micro Loan, Sesame Credit and MYbank. For more information on Ant Financial, please visit our website at www.antgroup.com; or follow us on Twitter @AntFinancial About Paytm Paytm is India’s largest mobile payment & commerce platform. With current user base of more than 100 million, Paytm is on mission to bring half a billion Indians to the mainstream economy using mobile payment, commerce and soon to be launched payment banking services. The consumer brand of India’s leading mobile internet company One97 Communications, Paytm is head-quartered in New Delhi NCR. The company’s investors include Ant Financial (Alipay), SAIF Partners, Sapphire Venture and Silicon Valley Bank.

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Alibaba, Ant Financial invest in Paytm

BlackRock, THL Credit invest more into A10 Capital

BlackRock and THL Credit have made a follow-on investment in A10 Capital. Financial terms weren’t announced. A10 Capital, of Boise, Idaho, is a middle-market commercial real estate lender. PRESS RELEASE BOISE, IDAHO (PRWEB) SEPTEMBER 24, 2015 A10 Capital, the nation’s leading middle-market commercial real estate lender, announced today it has received a significant follow-on investment from BlackRock and THL Credit to fuel the future growth of its loan origination platform and on-balance sheet loan portfolio. “We consider this additional investment by BlackRock to be a validation of our business model and leadership position in the industry,” said A10 CEO Jerry Dunn. “Being associated with the BlackRock family will enable A10 to continue to bring innovative solutions to our clients and fresh ideas on how middle-market commercial real estate can be financed.” BlackRock is the world’s largest investment firm, with over $4.72 trillion under management. Funds managed by BlackRock along with THL Credit, a $5.6 billion alternative credit investment manager, made an undisclosed investment in A10 Capital’s platform in support of its fast-growing loan portfolio. A10 will use this second round of funding to further enhance its industry-leading commercial mortgage products and to expand its sales and marketing activities. “We continue to view A10 Capital as a very impressive platform in the commercial real estate lending arena,” said Ron Redmond, managing director at BlackRock. “Their full-service platform is powered by an exceptional team and the use of sophisticated technology. We are very excited to continue to be part of their success and growth.” About A10 Capital Commercial real estate investors rely on A10 Capital as their one-stop balance sheet lender for middle-market commercial mortgages. Our broad menu of bridge, perm, bridge-to-perm, and note purchase loans cover the entire life cycle of commercial properties across the United States. Our full-service lending platform, which incorporates focused origination, speedy underwriting, in-house legal, and servicing for the life of the loan, has made A10 Capital the most active lender in the middle-market commercial mortgage space. With loans ranging from $1 million to more than $20 million per property, A10 has funded nearly 26 million square feet of commercial properties. An innovator in the industry with a scalable funding model, A10 is backed by four significant institutions: $4.7 trillion asset management firm BlackRock, the $19 billion global private equity firm H.I.G. Capital, a Fortune 500 insurance company, and the credit affiliate of Thomas H. Lee Partners. We are based in Boise, ID and Dallas, TX and have regional offices in Annapolis, MD; Darien, CT; Indianapolis, IN; Kansas City, KS; Nashville, TN; Newport Beach, CA; Orlando, FL; Philadelphia, PA; and Princeton, NJ. For more information, please visit us at http://www.a10capital.com. About BlackRock BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At June 30, 2015, BlackRock’s AUM was $4.721 trillion. BlackRock helps clients meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares® (exchange-traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. Headquartered in New York City, as of June 30, 2015, the firm had approximately 12,400 employees in more than 30 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit BlackRock’s website at http://www.blackrock.com. About THL Credit THL Credit is an alternative credit investment manager for both direct lending and broadly syndicated investments through public and private vehicles, collateralized loan obligations, separately managed accounts and commingled funds THL Credit and its subsidiary maintain a variety of advisory or sub-advisory relationships across its investment platform, including THL Credit, Inc., a publicly traded business development company and THL Credit Senior Loan Fund, a non-diversified, closed-end management investment company. THL Credit has investment teams in Boston, Chicago, Houston, Los Angeles and New York. In addition, THL Credit is the credit affiliate of Thomas H. Lee Partners, one of the largest buyout firms in the U.S. For additional information, please visit THL Credit’s website at http://www.thlcredit.com.

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BlackRock, THL Credit invest more into A10 Capital

Graycliff Partners backs Founders Equity’s investment in Stone Source

Graycliff Partners said Wednesday it provides a loan to support Founders Equity’s recapitalization of Stone Source. Financial terms weren’t announced. New York City-based Stone Source sells stone and decorative products to consumers and contractors via the architect and design channel for commercial and high-end residential use. PRESS RELEASE NEW YORK–(BUSINESS WIRE)–Graycliff Partners, an independent investment firm focusing on middle market private equity and mezzanine investments, today announced it has provided subordinated debt financing to Stone Source, a supplier of natural stone and other decorative surface products including porcelain and glass tile, engineered stone and reclaimed wood. Graycliff’s investment in Stone Source supported a recapitalization of the business by Founders Equity. Headquartered in New York City, Stone Source sells stone and decorative products to consumers and contractors via the architect and design channel for commercial and high-end residential use. The company has a nationwide presence, with operations in New York, New Jersey, Massachusetts, Illinois, Washington, DC, Texas and California. “Stone Source’s reputation for excellence, expansive product line and long-term customer relationships have positioned the company as a premier operator in the Architecture and Design market,” said Steve Hindmarch, Managing Director, Graycliff Partners. “Graycliff Partners is excited to work with Stone Source’s management to support the company’s continued success.” About Graycliff Partners LP Graycliff Partners is an independent investment firm focusing on middle market private equity and mezzanine investments in the United States and Latin America. Graycliff Partners LP is an SEC-registered investment advisor under the US Investment Advisors Act of 1940, as amended. Since 1991, the Graycliff Partners team, previously operating as HSBC Capital, has invested over $1 billion and completed over 80 transactions. With offices in New York and São Paulo, Graycliff Partners seeks to partner with companies led by strong, entrepreneurial management teams, providing capital for acquisitions, management buyouts, dividend recapitalizations, growth and expansion. For more information about Graycliff Partners visit www.graycliffpartners.com.

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Graycliff Partners backs Founders Equity’s investment in Stone Source