Brinson Patrick Reports $9 Billion Raised by U.S. Companies Through At-The-Market (ATM) Offerings in 2012
- Year-Over-Year Increase is 13 Percent vs. $8.1 Billion Raised in 2011 –
NEW YORK, April 29, 2013 – Brinson Patrick Securities Corporation, a boutique investment bank specializing in at-the-market (ATM) offerings, reported today that U.S. companies raised roughly $9.1 billion through ATMs in 2012, compared to $8.1 billion in 2011, a 13 percent year-over-year increase.
In the fourth quarter of 2012, U.S. companies raised $1.6 billion through ATMs, compared to $1.5 billion in the fourth quarter of 2011, a 7 percent increase. Companies whose ATMs were active in the fourth quarter included: Kinder Morgan EnergyPartners, LP. (NYSE: KMP), Houston, TX; DCT Industrial Trust, Inc. (NYSE: DCT), Denver, CO; CubeSmart (NYSE: CUBE), Wayne, PA; Enterprise Products Partners, LP. (NYSE: EPD), Houston, TX.
“2012 demonstrated that more public companies utilized ATM offerings to strategically raise capital compared to 2011,” said Todd Wyche, CEO of Brinson Patrick. “Companies continued to find opportunities to raise capital at attractive prices with the U.S. equity markets having a strong year. The great benefit of an ATM offering is that a company can choose to only raise capital during its most advantageous times of the year.”
An ATM provides an efficient means of raising equity capital over time by enabling a publicly traded company to tap into the existing secondary market for its shares on an as-needed basis. With an ATM, an exchange-listed company incrementally sells newly issued shares into the trading market through a designated broker-dealer at prevailing market prices, rather than via a traditional underwritten offering of a fixed number of shares at a fixed price all at once. ATMs are also generally less expensive and less complicated to execute than traditional equity offerings and do not require a lot of executive time.
About Brinson Patrick Securities Corporation
Brinson Patrick Securities Corporation is a boutique investment bank that employs its DOCS® (Dynamic Offering of Common Stock) at-the-market (ATM) financing facility to raise the capital for clients as they need it. The DOCS® ATM is a low-profile equity offering appropriate for publicly traded companies across multiple industries and market capitalizations. It has been successfully utilized by companies in the energy, life sciences, technology, real estate, financial services and hospitality industries with market capitalizations that range from $50 million to over $1 billion.
For more information about ATMs and the firm, visit http://www.brinsonpatrick.com. To access Todd Wyche’s biography and a Brinson Patrick fact sheet click here.
Brinson Patrick is a FINRA member broker-dealer.