Identifying the Performance Trends of US Equity Follow-on Offerings from Filing through Pricing and Beyond

Corporations with US publicly traded equities raised $20.1 billion across 133 equity follow-on offerings during Q1 2023, which is a 52% increase in total proceeds raised compared to Q1 2022. Identifying the optimal market conditions is paramount to deciding when to bring a follow-on issue to market, which can be further facilitated with advanced analytics and workflow tools that improve the efficiency of the syndication process. Equally important is an investor’s willingness to participate in the offering, which requires the ability to analyze historical equity price and financial performance augmented with securities lending data to get a full picture of shifts in market sentiment and performance from an issuers’ past offerings.

1) Identify the market conditions and security factors that commonly surround well-performing follow-on offerings
2) Leveraging equity capital markets data, analytics, and workflow solutions to facilitate the issuance process
3) Analyze stock borrowing trends between the filing and pricing of an offering, as well as borrowing behavior near the lock-out expiration date
4) Highlight recent trends in follow-on issuers’ equity price and financial performance post-pricing