Press Releases
ThinkEquity LLC Announces the Successful $64,000,000 Registered Direct Offering for Opsware, Inc.
San Francisco, CA - December 20, 2004 — We are pleased to share with you the announcement of this important recent transaction and a general update on the continued momentum building at ThinkEquity LLC.
The Situation: Opsware solicited 3 investment banks to make a proposal to sell 10 million shares of Opsware (OPSW) at the best price possible within 24 hours of being selected.
The Result: ThinkEquity won the mandate and over the next day created excess demand enabling us to price the transaction with a 0% discount to the closing price (right at market).
Highlights: Stock was sold to a variety of the leading growth stock investors in the world, many of which became new OPSW holders.
§ OPSW closed up 8.4% on the first day of trading after the deal, as many of these investors added to their initial allocations in the open market.
Thesis: ThinkEquity strongly believes that the equity capital markets continue to become more favorable and that there is an increasing demand from growth investors for "fresh blood" in the form of IPOs and other equity offerings for public companies. Companies that seek to play offense have a opportunity to execute effective financing transactions that will enable them to achieve their strategic objectives. We seek to have a dialog with these "stars of tomorrow", much like we did with Opsware.