NEW YORK, Jan. 30, 2014 /PRNewswire/ -- Cantor Fitzgerald, a leading financial services firm, today announced that Cantor ranked No. 1 in at-the-market offerings (ATM) in 2013, with over 40 ATM offerings totaling more than $3 billion in notional value. According to data provided by Dealogic, Cantor executed more ATM offerings than any other broker-dealer in 2013 and more than any broker-dealer since 2001, reinforcing strong performance in the Equity Capital Markets and Investment Banking divisions.
"Our capital markets team's ATM product has been a consistent leader in the marketplace over the last 12 years, demonstrating the ability of Cantor's distribution model to access liquidity and raise capital for their corporate clients in every cycle of the market. While many bulge bracket firms have downgraded their suite of offerings, we remain committed to delivering value and service to our clients and building on the success of our at-the-market business," said Shawn P. Matthews, Chief Executive Officer of Cantor Fitzgerald & Co.
At-the-Market offerings (ATMs) allow public companies to issue primary shares from time-to-time into the market at the current market price. ATMs address many of the inefficiencies in the traditional issuance model, including negative price impact, discounted purchases, and large underwriting spreads.
"The ATM will become a necessity as it allows issuers to better match sources and uses of funds and increase both balance sheet and capital markets flexibility," said Jeffrey Lumby, Head of Equity Capital Markets and Co-Head of Investment Banking at Cantor Fitzgerald & Co. "With a track record spanning more than a decade and a senior-level, ATM-dedicated team, we are in a unique position to provide Issuers with superior execution and insight into the market."
"Given our position as a top trading firm and with the benefit of our broad distribution platform, we are able to provide our ATM clients with an unparalleled access to liquidity," said Joshua Feldman, Managing Director in Equity Capital Markets. "I look forward to an even more successful 2014 as public companies look to raise capital more efficiently and cost-effectively across all sectors."
Companies in numerous industries have implemented ATM programs with Cantor Fitzgerald & Co., including Real Estate, Financial Services, Biotechnology, Energy, Mining, and Transportation. Companies have implemented ATM programs for both common and preferred stock.
About Cantor Fitzgerald
Cantor Fitzgerald, a leading global financial services group at the forefront of financial and technological innovation has been a proven and resilient leader for over 65 years. Cantor is a preeminent capital markets investment bank serving more than 7,000+ institutional clients around the world, recognized for its strengths in equity and fixed income capital markets, investment banking services, prime brokerage, and commercial real estate financing and its global distribution platform. Cantor Fitzgerald & Co. is one of 21 primary dealers authorized to trade U.S. government securities with The Federal Reserve Bank of New York. Cantor Fitzgerald's 1,600 employees serve clients through over 30 locations, including major financial centers around the world in the Americas, Europe, Asia/Pacific, and the Middle East. For more information please visit www.cantor.com.
SOURCE Cantor Fitzgerald