Secondaries Announced 5.18.17

IPO BOUTIQUE CLIENTS and IPO BOUTIQUE SECONDARY ALERTS CLIENTS received ALL this information to their inbox on a REAL TIME basis.

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Our Buy, Neutral or Avoid ratings of the Secondaries below are intended as a recommendation for those who buy Secondaries on a regular basis. For example, this is not to be interpreted as a Buy recommendation in the traditional sense of adding to your stock portfolio; this is a short term (usually one day or opening trade) time period. Spot secondaries or block trades due to the very short duration of announcement to trading, may take longer to “work”, and should be judged accordingly. (the key is the pricing for spots and or blocks…even more so than scheduled secondaries)

Company: Shopify, Inc.
Symbol: SHOP
Price: Last Trade $87.25
Trade Date 5/19
Shares: 5.5 million
Underwriter(s) Morgan Stanley, Credit Suisse
Co-Manager CIBC World Markets
Rating = Subscription Needed

Company: Identiv Inc
Symbol: INVE
Price: Last Trade $5.03
Shares: TBD
Underwriter(s) Northland Capital Markets
Rating = IPO Boutique Does not Cover Northland Capital deals

Company: Goldman Sachs BDC, Inc.
Symbol: GSBD
Price: Last Trade $23.08
Trade Date 5/19
Re-offer Range: Subscription Needed Shares: 3.25 million
Underwriter(s) BofA Merrill Lynch, Morgan Stanley, Wells Fargo Securities, Goldman Sachs & Co., Citigroup, Credit Suisse
Co-Manager: Raymond James
Rating = Subscription Needed

Company: Halozyme Therapeutics, Inc.
Symbol: HALO
Price: Last Trade $14.16
Trade Date: 5/19
Re-offer Range: Subscription Needed
Shares: 7.06 million
Underwriter(s) Wells Fargo Securities, Deutsche Bank Securities
Rating = Subscription Needed

Company: RSP Permian
Symbol: RSPP
Price: Last Trade $40.69
Trade Date: 5/19
Re-offer Range: Subscription Needed
Shares: 15 million
Underwriter(s) BofA Merrill Lynch
Rating = Subscription Needed