During the challenges of the COVID-19 pandemic, Darrow Associates has played a key role in supporting its clients’ ongoing strategic growth objectives and investor relations initiatives, including capital formation, merger and acquisition transactions, and in the institutionalization and broadening of shareholder bases.
AYRO, Inc. (NASDAQ: AYRO) closed $5.5 million registered direct offering (June 19, 2020). Palladium Capital Advisors, LLC acted as financial advisor.
Avinger, Inc. (NASDAQ: AVGR) closed $5.4 million underwritten public offering of common stock (June 26, 2020). Avinger announced exercise and closing of underwriter’s over-allotment offering for gross proceeds of $3.6 million (May 6, 2020). Aegis Capital Corp. acted as sole bookrunner for the offerings.
GigCapital3, Inc. (NYSE: GIK.U) announced closing of $200,000,000 initial public offering (May 18, 2020). Nomura Securities International, Inc. and Oppenheimer & Co. Inc. acted as the joint lead book-running managers for the offering, and Odeon Capital Group LLC acted as co-manager for the offering.
Kaleyra, Inc. (NYSE American: KLR) announced pricing of public offering of common stock for $35 million in gross proceeds before the close of the over-allotment option (June 24, 2020). Oppenheimer & Co. Inc. and Nomura Securities International, Inc. acted as joint book-running managers for the Offering. National Securities Corporation acted as lead manager for the Offering.
MTBC, Inc. (NASDAQ: MTBC) completed its offering of non-convertible preferred stock with $20.7 million in gross proceeds (April 27, 2020). B. Riley FBR, Inc., Ladenburg Thalmann and National Securities Corporation acted as bookrunning managers for the offering. Boenning & Scattergood, Chapin Davis, The Benchmark Company, Wedbush Securities and Dougherty & Company LLC, acted as co-managers for the offering.
QuickLogic Corporation (NASDAQ: QUIK) announced pricing of $8.75 million public offering of common stock before the close of the over-allotment option (June 18, 2020). Oppenheimer & Co. Inc. acted as the sole underwriter for the offering.
Sonim Technologies (NASDAQ: SONM) announced the closing of a $27.6 million public offering, including full exercise of underwriters’ overallotment option (June 9, 2020). Oppenheimer & Co. Inc. and Lake Street Capital Markets LLC acted as joint book-running managers for the offering.
Mergers & Acquisitions
AYRO, Inc. (NASDAQ: AYRO): DropCar and AYRO stockholders approved the merger of the two companies; AYRO, Inc. common shares commence trading on NASDAQ under the ticker symbol “AYRO” on May 29, 2020 (May 28, 2020).
MTBC, Inc. (NASDAQ: MTBC) acquires Meridian Medical Management, a former GE Healthcare IT company (June 17, 2020).
Equity Research Coverage Initiation
Ducommun Incorporated (NYSE: DCO) coverage initiated by RBC Capital Markets. Kaleyra, Inc. (NYSE American: KLR) coverage initiated by Oppenheimer & Co. Lakeland Industries (NASDAQ: LAKE) coverage initiated by The Benchmark Company.
Genasys Inc. (NASDAQ: GNSS) was added to the Russell 3000 ® Index. Lakeland Industries (NASDAQ: LAKE) was added to the Russell 3000 ® Index. LightPath Technologies (NASDAQ: LPTH) was added to the Russell Microcap ® Index. QuickLogic Corporation (NASDAQ: QUIK) was added to the Russell Microcap ® Index.
Darrow Associates, Inc., a leading national investor relations (IR) consulting firm, today announced the introduction of its Virtual Investor Marketing Event broadcast platform, an innovative and unique approach for investment community outreach using the latest in online technologies. The platform was developed and is being implemented in partnership with Issuer Direct Corporation (NYSE American: ISDR).
The Darrow Associates virtual event platform allows targeted investors to participate in a webcast presentation with integrated slideshow along with a Q&A session. Coordinated and hosted by Darrow Associates consultants, each event will focus on a single client for a one-to-many experience. In addition, each event will feature a special guest speaker to provide insightful commentary and interaction specific to the client or topic in focus. Guest speakers will be selected for their prominence on Wall Street and for experience in the industry of the participating client.
The singular client focus for each event and the special guest speaker specific to the presenting company are what sets this platform apart from other investor oriented virtual events. To drive participation from the global investment community and adhering to best practices in corporate governance, virtual events will be widely marketed across multiple platforms by Darrow Associates, its partners and clients.
“We are excited to launch our unique virtual investor marketing concept that raises the bar in servicing management teams of small companies looking to increase their presence throughout the investment community,” said Jordan Darrow, President of Darrow Associates. “At a time when the COVID-19 pandemic is disrupting how public companies interact with the investment community as well as presenting challenges for their financial performance and business prospects, our virtual investor marketing events provide a creative, cost-effective and highly productive tool in our IR toolbox.”
“Darrow Associates continues to innovate in bringing best-in-class services and consultation to its clients,” said Issuer Direct President and CEO Brian Balbirnie. “We have worked alongside Darrow Associates for many years for press release distribution and other services, and we appreciate their well-earned brand as a leading investor relations agency with a commitment to the highest standards of client representation. We are pleased they have chosen Issuer Direct’s technology solution as the foundation for their new Virtual Investor Marketing Event platform.”
Since its founding in 2005 in New York, Darrow Associates has added to its client base while expanding with locations in Silicon Valley (2013) and Austin, TX (2016). The firm maintains an exclusively senior-level professional staff and has grown as one of the largest and most trusted IR consulting firms for middle market public companies.
About Issuer Direct Corporation
Issuer Direct® is an industry-leading communications and compliance company focusing on the needs of corporate issuers. Issuer Direct’s principal platform, Platform id.™, empowers users by thoughtfully integrating the most relevant tools, technologies, and services, thus eliminating the complexity associated with producing and distributing financial and business communications. Headquartered in Raleigh, NC, Issuer Direct serves thousands of public and private companies globally. For more information, please visit issuerdirect.com, connect with us on LinkedIn or follow us on Twitter.
About Darrow Associates
Darrow Associates is an investor relations and financial communications firm with offices in New York, Austin, and Silicon Valley. The Darrow Associates team of professionals brings nearly 225 years of combined investor relations and Wall Street experience across a range of market sectors and market-caps to its client base. Darrow Associates’ professionals have significant experience in partnering with public and pre-IPO companies in the technology, media and telecommunications (TMT), business services, alternative energy, clean technology, healthcare, financial services, industrial, and aerospace and defense industries.