Public Equity (AIM)
Epic can receive a specific mandate by companies for IPOs of capital shares on alternative markets such as AIM Italia. In this case Epic acts as arranger and/or lead manager for the placement of shares with investors of our private investment community.
Since March 2019 Epic SIM also acts as Nominated Adviser (Nomad) on AIM Italia. Nomad is a key figure, which in fact acts as a tutor for companies, supervising the due diligence process, and has the responsibility of confirming that the company is suitable for admission to listing. Besides, a Nomad assists companies as long as they are listed on the market and makes sure that companies comply with the rules in terms if transparency and information to the market.
Epic can also be mandated by companies for private equity transactions, which may have different objectives:
- expansion financing o development capital, to sustain development through a capital increase in order to acquire a minority share. The entrepreneur’s soundness is fundamental, as he/she keeps a majority share. A sustainable business plan is also very important. Investors will want to share corporate governance rules, in order to safeguard the stability of company structure and management, to control company information and to establish rules for the private equity investor’s exit, after a given period.
- replacement capital, to sustain changes in the equity capital, e.g. replacing shareholders no more interested in the company. This usually involves minority shares.
- buy out con management buy out o buy in, to sustain generational change or moving from a family ownership to management ownership. Such transaction are often structured to include a debt portion, in order to reduce the equity portion provided by investors and enhance the investment return. It is fundamental for the company to have a good EBITDA to sustain the debt interests.
- turnaround financing, for distressed companies, to sustain a rescue plan of the whole company or subsidiaries. An agreement with creditors is a must-have.
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