Stephen Lacey is US Editor for International Financing Review, helping to oversee editorial content across the region. He has particular expertise in coverage of the equity capital markets – IPOs, follow-on stock sales, and equity-linked securities – spanning the entire corporate life cycle, from venture and private equity to entry and maturation in the public markets.
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The business of growing cannabis on an industrial scale is being led by Canadians, after the federal government last month moved ahead with measures to legalise recreational consumption of the drug across the country from October.
The US convertible bond market has taken on an element of wash, rinse and repeat, with Palo Alto Networks the latest tech company to take the dip with an opportunistic US$1.5bn five-year CB, the largest CB this year.
Spero Therapeutics, a pre-clinical biotech, went back to the drawing board to rework the terms but still managed to raise US$75m from a marketed follow-on offering.