Page 10 - IPO Analysis - Private Equity Exits 2017_Final

Private equity exits via IPO in

2017

Private Equity
IPO Sell Down as a Price Aggregate Total Estimated Private Equity Sponsor Sponsor lock-up
Private Equity Market Cap Size proportion of Change Sponsor + Orderly
Date Company Sector Banks Underwritten Commission / Fee Structure Expenses (incl. Relationship Agreement
Sponsor(s) at IPO (£m) (£M) IPO (%) Since IPO Retained Stake Market Periods
(%) at IPO (%) Commissions) (£m) (Key Terms) (Months from
IPO)
Ramsdens Financial North Edge Capital 26.5 14.5 51.02 117 30.0 Liberum No Placing commissions and fees 1.0 - Transactions conducted 6+6
15.02.17
Holdings PLC Capital not disclosed on arm's length terms
- Terminates if North
Edge's interest in the
issued share capital falls
below 10%
Integumen plc Personal goods Helium Rising Stars 8.25 2.25 No sell down -71.0 10.85 Spark No - Work fee of £62,500 payable to 1.0 N/A 12+12
05.04.17
Fund Advisory, Spark
Turner Pope
- Success fee of £125,000
payable to Spark
- Corporate finance fee of
£35,000 payable to Turner Pope
- Commission of 5% payable to
Turner Pope in respect of new
placees
- Commission of 0.5% payable to
Turner Pope in respect of shares
placed with existing shareholders

Private & Confidential. Not for distribution.
© DWF LLP 2018 10