Page 8 - Private Equity Exits via Initial Public Offerings 2016

Date Company Sector Private equity Market IPO Sell down Price Aggregate Banks Under- Commission /fee Total Private eq- Private equity
sponsor(s) cap size as a propor- change sponsor written structure estimated uity sponsor sponsor lock-up
at IPO (£m) tion of IPO since retained expenses relationship + orderly market
(£m) (%) IPO (%) stake at (including agreement periods (months
IPO (%) commissions (key terms) from IPO)
(£m)
20 SDX Oil and Gas Ingalls & 14.4 7.6 No sell 108.3 14.5 Cantor No 5% payable 0.7 N/A N/A
May Energy Inc. Producer Snyder down Fitzgerald, to Cantor
2016 FirstEnergy Fitzgerald and
Capital FirstEnergy
Capital plus
undisclosed
corporate
finance fee pay-
able to Cantor
Fitzgerald
26 Joules Retail LDC (Lloyds) 140 79.3 48 33.1 7.1 Rothschild, Yes Undisclosed 5.2 N/A 6+0
May Group plc Peel Hunt,
2016 Liberum
Capital

9 Mereo Pharma, Woodford 142.2 9.1 No sell 21.0 66.3 RBC No 4% plus up to 2.3 N/A 6+0
June Biopharma Biotech and funds, down Capital, 1%
216 Group plc Healthcare Invesco Asset Cantor discretionary
Management Fitzgerald, Corporate
Evercore finance fee of
£250,000
10 Accrol Personal, North Edge 93 59.6 15.2 37.0 15.0 Zeus No Undisclosed 3.8 Terminates 12+6
June Group household Capital commission when share-
2016 Holdings and leisure plus 10 year holding falls
plc goods warrant over below 10%
3% of the of the voting
enlarged issued rights
share capital

Private equity exits via Initial Public Offerings (IPOs)