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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Bill Barrett, a US E&P in the Denver-Julesberg Basin, was scrutinised for its planned merger with Natural Gas Partners’ Fifth Creek Energy. The merger and related financing promise massive dilution to shareholders combined with the potential for continued cashflow outspend to grow production.
Fast-growing used car retailer Carvana, known for its vending-machine distribution centres, has as many detractors as supporters.
Fast-growing used car retailer Carvana raised US$100m through the private sale of convertible preferred securities on Monday, a deal that allowed the listed company to avert public scrutiny.