IFR US ECM PRICINGS
Armour Residential REIT (US, mortgage REIT) ─ $302.5m Block. 18.5m shares (Primary)at $16.35 versus $16.35-$16.80 marketing and $16.80 last sale. GS.
CCC Intelligent Solutions (US, software) ─ $296.7m Block. 30m shares (Secondary) at $9.89 versus $9.89-$9.97 marketing and $9.97 last sale. GS. Advent International is the selling shareholder.
Coinbase (US, crypto exchange) ─ $1.3bn 4y cvt priced at 0%, up 52.5% versus 0% fixed and 50%-55% marketing. JPM, CITI. Upsized from $1bn. Capped call to $595.98 a 100% premium. Concurrent upsized $1.3bn 7y CB.
Coinbase (US, crypto exchange) ─ $1.3bn 7y cvt priced at 0%, up 32.5% versus 0% fixed and 30%-35% marketing. JPM, CITI. Upsized from $1bn. Capped call to $595.98 a 100% premium. Concurrent upsized $1.3bn 4y CB.
Pitney Bowes (US, office equipment) ─ $200m 5y cvt priced at 1.25%, up 27.5% versus 1.25%-1.75% and 25%-30% marketing. BOFA, GS, TRST. Concurrent $61.9m share repurchase (downsized from up to $75m). Capped call to $22.36 a 100% premium. Wall cross.
Ramaco Resources (US, coal mining) ─ $200m ABB. 10.7m shares (Primary) at $18.75 versus $18.50-$19.50 marketing and $23.14 last sale. MS, GS. Upsized from $150m. Yorktown Partners is contributing secondary shares for the greenshoe.