Peter Bennett

Have questions about economic incentives and tax credit programs? Not sure where to start? ThinkForward secured $3M in NYCIDA financial assistance for The VOREA Group + Mega Group Dev. Learn how… Read more about The Metropolitan Building Project: https://lnkd.in/eBDy6945

10

We were disappointed by the release of new finalized regulations by the U.S. Federal Trade Commission (FTC) that will materially increase Hart-Scott-Rodino Act premerger notification requirements. This follows a July 2021 executive order by the Biden/Harris administration that directed federal agencies to increase their regulatory scrutiny of healthcare mergers and acquisitions. The good news is that the final regulations appear to be a bit less onerous than the original FTC proposed regulations in July. The bad news is that these regulations will still represent a new burden on healthcare mergers and acquisitions. This is the first time the FTC has revised its Hart-Scott-Rodino Act premerger notification in nearly 50 years. The new regulations go into effect in January 2025. In our view, the most significant changes to the HSR premerger requirements included much expanded scope for 4(c) and 4(d) documents related to market shares, competition, competitors, or markets of any overlapping product or service. Companies must also provide details about acquisitions that have occurred within the last five years so that the FTC can assess “roll-ups,” e.g., serial acquisitions that some private equity investors and companies do. Altogether, the FTC estimates that companies will now need to spend 105 hours per response in order comply with the premerger notifications (vs 68 hours currently). This suggests upwards of a 50% increase in premerger notification for the average acquiror. We might see a lot of earlier than normal HSR filings (after LOI as opposed to after signing definitive agreements) in December this year as folks try to avoid the expanded requirements for deals that will roll into the New Year. Read the Final Rule: https://lnkd.in/eXFvc9Fw

21

3 Comments

Small caps are grabbing headlines, yet remain near a 20-year low vs large peers: https://lnkd.in/d8VmGXti Watch our team's 5-minute take on whether the rotation can continue. This information is proprietary and cannot be reproduced or distributed. Certain information may be received from sources Voya Investment Management ("Voya IM") considers reliable; Voya IM does not represent that such information is accurate or complete. Certain statements contained herein may constitute "projections," "forecasts" and other "forward-looking statements" which do not reflect actual results are based primarily upon applying retroactively a hypothetical set of assumptions to certain historical financial data. Actual results, performance or events may different materially from those in such statements. Any opinions, projections, forecasts and forward-looking statements presented herein are valid only as of the date of this document and are subject to change. Nothing contained herein should be construed as (i) an offer to buy any security or (ii) a recommendation as to the advisability of investing in, purchasing or selling any security. Voya IM assumes no obligation to update any forward-looking information. Past performance is no guarantee of future results.

1

77 WABC Radio: #1 Station in New York (and based on that data arguably the #1 in the U.S.) owned and operated by Red Apple Group. Below is a full-page announcement in New York Post highlighting the recent bipartisan Congressional committee decisively voting to safeguard the presence of AM radio in all automobiles across the United States. This commendable action upholds the vital role that AM radio plays in providing reliable news, public safety information, and community engagement—particularly during emergencies. This crucial decision comes despite efforts from automakers like General Motors to remove AM from future models. AM radio remains a vital resource for news, information, and community engagement, and this decision ensures that it continues to serve millions of listeners—both now and in the future. Founded in New York in 1968 by Chair/CEO John Catsimatidis, Red Apple Group is one of the largest private companies in North America and has leading operating businesses and interests in consumer, energy and refining, investments and insurance, infrastructure, logistics, media and sports, real estate, retail, and technology. With evergreen capital "we think and invest in decades, not quarters." DM or email with opportunities. #WABC770 #AMRadio #Media #NYC #RedAppleGroup #Broadcasting #Congress #BipartisanSupport #AutomotiveIndustry #GeneralMotors #Ford #BMW #Tesla #MercedesBenz #Toyota #Honda #Volkswagen #PublicService #Legislation #USCongress #Senate #HouseOfRepresentatives #johncatsimatidis

20

Spartan Capital Securities, LLC is excited to welcome Lipella Pharmaceuticals (Nasdaq: LIPO) as a presenting company at the Spartan Capital Investor Conference 2024, taking place on November 4th at The Pierre Hotel in New York City.   Lipella Pharmaceuticals (Nasdaq: LIPO) is a Pittsburgh-based clinical-stage biotechnology company focused on developing treatments for serious diseases with significant unmet needs. The company has a broad portfolio of three promising IND-approved assets and operates an in-house manufacturing facility. Lipella’s proprietary drug delivery platform utilizes liposomal formulations of tacrolimus, enabling localized treatment with minimal systemic exposure. The company is advancing two lead assets in Phase 2 clinical trials: LP-10, targeting hemorrhagic cystitis, and LP-310, an oral rinse for Oral Lichen Planus. Both programs leverage the 505(b)(2) regulatory pathway to expedite development and reduce costs. With pivotal clinical milestones expected over the next 18 months, Lipella is well-positioned for potential partnerships and licensing agreements. Lipella Pharmaceuticals Inc. is led by a highly skilled team that includes Jonathan Kaufman, Michael Chancellor, Dan Cohen, and B. Christopher Kim. Conference attendees will have the unique opportunity to engage directly with Lipella Pharmaceuticals Inc. executives, gaining valuable insights into the company’s biotechnology strategies.   To secure your place at this premier event, visit: https://lnkd.in/enQCABXZ   #SpartanCapital #B2iDigital #InvestorConference #CapitalMarkets #InstitutionalInvestors #SpartanCapitalInvestorConference2024 #LipellaPharmaceuticals #LIPO #biotechnologyinvestment

5

Why don’t we have a #law requiring ALL elected and appointed public officials to hold their invested assets in blind trusts? As an #advisor who’s managed assets in blind trusts, I can attest that the #investor maintains control over the mandates (examples: #risk tolerance, #income targets, etc.) without needing to see the underlying positions or request specific #trades. The investor continues to receive reports and access to the #performance and composition, with the underlying positions removed. The simple tweak would restore #trust and efficiently address much-needed reform across the #political spectrum. https://lnkd.in/eCPphSvb #money #wealth #investor #investing #investments #estateplanning #politics #wealthmanagement #investmentplanning #rich #law #election #trustplanning #financialadvisor #stocks #fixedincome #stockmarket #coors #budweiser #cnbc CNBC Budweiser Brewing Company APAC Molson Coors Beverage Company

18

Crown Partners tracked $3.2 billion in asset-based financings during July. Our ABF Report documents the continued growth in monthly volume in our market after the slow Q1. Some highlights from July are CIT providing a larger line and SOFR +2.25% acquisition financing to Crown Crafts, Inc., Wingspire Capital agenting Phillips Pet Food & Supplies' refinancing, and Truist agenting a financing solution to start up whiskey manufacturer Whiskey House of Kentucky. If you would like this report delivered to your inbox each month, please email [email protected] to subscribe. #abl #assetbasedlending #nonbanklender #debtadvisory #capitalmarkets #middlemarket #debt #banking #bankingindustry #liquidity #investmentbanking #privateequity #directlending

60

1 Comment

Dividend recapitalizations and stock buybacks continue to be an attractive option for private equity sponsors and other strategics as they seek strategies to satisfy LP and investor pressure for the return of capital. Our teams at Stout have observed an uptick in these deals in 2024, particularly as the M&A environment remains muted and borrowers continue to optimize their capital structure in an improving credit environment with the prospect of upcoming Fed rate cuts. A solvency opinion from an expert like Stout can assist corporate directors in carrying out their fiduciary duties and follow best practice in corporate governance. We bring deep technical experience, industry expertise, and independent and objective advice to every one of our fairness and solvency opinions engagements. #transactionopinions #solvencyopinions #fairnessopinions #stout

7

Dividend recapitalizations continue to be an attractive option for sponsors looking to return capital back to limited partners. We are seeing increasing requests for solvency opinions on dividend recaps as lenders become more comfortable with cash coming out of performing businesses.

1

Seale & Associates, Inc. is excited to announce the release of our August 2024 edition of the U.S. Mergers and Acquisitions (M&A) Report. This comprehensive guide provides detailed insights into the transactions conducted by American companies during August. In August, the U.S. M&A market experienced a notable shift, with 1,106 transactions announced across the country a 0.3% increase compared to the same period last year. Meanwhile, 129 transactions were completed abroad, marking a 5.1% decline year-over-year. This report features major players such as ITT Inc., Flowserve Corporation, Revance, and Apax, highlighting the ongoing opportunities in the market. To receive this exclusive monthly report or any of our industry analyses, subscribe here: https://lnkd.in/gExMnuBz. Stay ahead with our in-depth analysis and market insights. #MergersAndAcquisitions #BusinessReports #MarketTrends #USMarket #FinanceInsights #IndustryAnalysis #SealeAndAssociates #FinancialReports #CorporateTransactions #USCompanies

12

Seale & Associates, Inc. is excited to announce the release of our August 2024 edition of the U.S. Mergers and Acquisitions (M&A) Report. This comprehensive guide provides detailed insights into the transactions conducted by American companies during August. In August, the U.S. M&A market experienced a notable shift, with 1,106 transactions announced across the country a 0.3% increase compared to the same period last year. Meanwhile, 129 transactions were completed abroad, marking a 5.1% decline year-over-year. This report features major players such as ITT Inc., Flowserve Corporation, Revance, and Apax, highlighting the ongoing opportunities in the market. To receive this exclusive monthly report or any of our industry analyses, subscribe here: https://lnkd.in/gExMnuBz. Stay ahead with our in-depth analysis and market insights. #MergersAndAcquisitions #BusinessReports #MarketTrends #USMarket #FinanceInsights #IndustryAnalysis #SealeAndAssociates #FinancialReports #CorporateTransactions #USCompanies

8

CEPAs: The recent Fed rate cuts are reshaping the M&A landscape. Have you discussed with your clients how this could impact their long-term strategies? Many business owners may not fully appreciate the implications of this economic shift. At REAG, we specialize in translating these complex macroeconomic changes into clear, actionable plans tailored to each client's unique circumstances. Let's connect to ensure your clients are positioned to capitalize on these new market dynamics. Let's start the conversation together: https://lnkd.in/e6yVTpb4 #growthstage #REAG #mergers #business #acquisitions #lowermiddlemarket #investmentbank

21

3 Comments

In a year of elections and heightened geopolitical risks, changing interest rates and oil prices, Kroll's analysis of various economic sources reveals that the U.S. economy has continued to perform stronger than expected, although a slowdown is anticipated in 2025, as labor markets cool down and pandemic-related excess savings are used up. Kroll's recommended USA ERP is currently at 5.0% and risk-free rate is approximately 3-3.5%. Hence, the S&P 500 with a beta of 1.0 implies an expected S&P 500 (the "market") return of approximately 8-9%. This infographic data (click link below) is very insightful based on geography and early GDP projections for 2025. Precise financial analysis and independent data analytics - powered by Kroll since 1932. 📊 Check out our latest infographic for some of the financial market and economic indicators used to support our #costofcapital recommendations: http://ms.spr.ly/6043mQvyN Duff & Phelps (Rebranded as Kroll) has published its recommended U.S. ERP and corresponding risk-free rate since 2008.

22

Despite a 25% drop in M&A volume, deal values rose 5% in H1 2024. What's driving this paradox? • Higher interest rates reshaping the landscape • Patient capital becoming a key advantage • Strategic partnerships unlocking hidden value At REAG, we're seeing founders and CEPAs leverage these trends to position for success. https://lnkd.in/gERy8C_t #growthstage #REAG #mergers #business #acquisitions #lowermiddlemarket #investmentbank

11