Full Service Equities Research
We provide a full service offering of research, including company specific equities research consisting of research initiation reports, quarterly updates and ad hoc commentary to material news flow. Our reports include recommendations and price targets based on fundamental research and thorough valuations.
In addition to company specific research, TMT Analytics publishes periodical sector specials covering trends in the TMT space relevant to the companies under coverage, further contributing to investors' understanding of these companies.
Furthermore, TMT Analytics can contribute to your existing IR strategy through investor meetings and presentations across Australia, the United States, Asia, the UK and Europe.
Flexible capital raising through an ATM
Emerging companies in the TMT space typically have ongoing capital requirements during their first few years of being listed on a stock exchange.
However, the stock market can be a fickle mistress
Share prices may move adversely just prior to, or during a traditional, lengthy, capital raising process and underwriting agreements are expensive, while deal sweeteners, such as options for incoming investors, are not in the best interest of existing shareholders.
At-The-Market (ATMs) are tools for a secondary on-market sale of stock by listed companies, widely used in the United States. The issuing companies control all parameters, including minimum price, timing and volume, which allows them to raise capital on an as-needed basis.
Controlled Placement Agreements (CPAs) are the Australian equivalent of ATMs and can be switched on and off at any time, allowing companies to take advantage of increased liquidity and a rising share price, for instance in case of a major announcement.
Key benefits of a CPA
CPAs have several major advantages over traditional capital raisings, including the flexibility to turn them on and off as required, which typically results in superior outcomes for the company, i.e. higher prices at which capital is raised, limiting dilution for existing shareholders.
Given the typical trading patterns of TMT stocks, i.e. volatile share prices with high volumes, CPAs are ideal capital raising tools for this group of companies.
TMT Analytics can arrange a CPA for your company.