2/27/15


Cerberus Mortgage Capital, a mortgage REIT investing in Agency and non-Agency RMBS, withdrew its plans for an initial public offering on Friday. Mortgage REITs have faced some resistance this year. Sutherland Asset Management ([SLD]) postponed its IPO in January and Great Ajax ([AJX]) trades below its offer price. Equity REIT's InfraREIT ([HIFR]; +17%) and Easterly Government Properties ([DEA]; +10%) have fared better. The New York, NY-based company was formed in 2013 and planned to list on the NYSE. Cerberus Mortgage Capital initially filed confidentially on November 23, 2012. Citi,...more


Keywords: CERB.RC, AJX, REIT

2/25/15


Kornit Digital, which sells digital printing equipment and inks for the printed textile industry, filed on Wednesday with the SEC to raise up to $115 million in an initial public offering. The Rosh Ha’Ayin, Israel-based company, which was founded in 2002 and booked $66 million in sales for the 12 months ended December 31, 2014, plans to list on the NASDAQ under the symbol [KRNT]. Kornit Digital initially filed confidentially on December 10, 2014. Barclays and Citi are the joint bookrunners on the deal. No pricing terms were disclosed....more


Keywords: KRNT

2/24/15


Tallgrass Energy GP LP, which holds GP and LP interests in midstream natural gas LP Tallgrass Energy, filed on Tuesday with the SEC to raise up to $863 million in an initial public offering. Tallgrass Energy's filing arrives less than two weeks after EQT GP Holdings LP ([EQGP]), another IPO candidate with a gas pipeline MLP's incentive distribution rights, filed to raise $300 million. The Leawood, KS-based company, which was formed in 2015 and booked $372 million in historical sales for the 12 months ended December 31, 2014, plans to list on the NYSE under the symbol [TEGP]. Citi ...more


Keywords: TEGP, TEP, WGP

2/23/15


Atlantic Alliance Partnership, a blank check company focused on the media, internet and consumer sectors in the UK and Europe, filed and set terms for its IPO on Monday. The London, United Kingdom-based company plans to raise $75 million by offering 7.5 million shares at a price of $10. At the proposed price, Atlantic Alliance Partnership (AAP) would command a fully diluted market value of $97 million. Unlike most blank check companies, AAP is not offering warrants in its offering. Jonathan Goodwin is Chairman and CEO. Goodwin is the founder and CEO of Lepe Partners, a London-...more


Keywords: AAPC

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As stated in the Prospectus, the total annual operating expenses for the Fund was 3.48%. The Adviser has contractually agreed to keep net expenses from exceeding 2.50% of the Fund’s average daily net assets for at least a year from the date of the Prospectus and for an indefinite period thereafter subject to annual re-approval of the agreement by the Board of Trustees. An investor cannot invest directly in an index. Index returns do not represent Fund returns. The Index does not charge management fees or brokerage expenses, nor does the Index lend securities, and no revenues from securities lending were added to the performance shown.

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