Venture Briefing: July 12, 2017 Venture Briefing: July 12, 2017

Venture Briefing: July 12, 2017

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June M&A Deal Value Declined to Lowest Quarterly Total Since 2013
Merger and acquisition (M&A) deal value in the U.S., in the three months to the end of June, slipped to its lowest quarterly total since 2013 as a lack of clarity over President Donald Trump's hoped-for corporate reforms hit buyer appetites. The slowdown in U.S. deals in the first half of the year saw the region notch up 2,446 announcements at a total value of $602.6 billion versus 2,677 announcements at a total value of $588.5 billion a year ago, according to data by Mergermarket.
(Source: CNBC, 2017-07-04) Read the full article
SEC Allows All Companies to Keep Some IPO Filings Private
In an attempt to revitalize the public capital markets, the nation's top regulator of stocks is turning to stealth mode. The Securities and Exchange Commission, in Walter J. Clayton's first major policy move as chairman, is expanding a program that will allow all private companies to keep some details of their finances and business strategies under wraps early in the process of an initial public offering.
(Source: The New York Times, 2017-06-30) Read the full article
Lower Valuations Have Some Questioning Strong IPO Market
The market for initial public offerings was brisk in the second quarter, with 52 new stock issues raising $11 billion. IPOs have been outperforming the Standard & Poor's 500 in post-issue trading, with Renaissance's IPO index up 20 percent so far this year, compared with 8.5 percent for the market. But some recent deals haven't gone well.
(Source: Barron's, 2017-07-08) Read the full article
Disillusioned Investors Withholding Votes for Corporate Directors
Big investors are losing patience with unresponsive corporate directors, and they're showing it with their votes. Shareholders have withheld 20 percent or more of their votes for 102 directors at S&P 500 companies so far this year, the most in seven years, according to ISS Corporate Solutions, a consulting firm specializing in corporate governance.
(Source: Bloomberg, 2017-07-03) Read the full article
Small Business Loan Approvals at Banks, Alternative Lenders Down
Loan approval rates at big banks, small banks, alternative lenders, and credit unions declined, the latest Biz2Credit Small Business Lending Index has revealed. The newly published report reveals approval rates at big banks fell two-tenths of a percent from April's 24.3 percent figure, a post-recession high, to 24.1 percent in May.
(Source: Small Business Trends, 2017-06-28) Read the full article
Bias Questions Leading to Less V.C. Funding for Women, Study Says
Women account for about 40 percent of founders of U.S. companies but get only two percent of the nation's venture capital investments. It's long been proffered that women tend to start "lifestyle businesses" with lower growth paths and thus seek less money. But an academic study, to be presented in August at the annual Academy of Management conference, suggests the funding disparity also lies in questions entrepreneurs are asked by potential investors.
(Source: The Kansas City Star, 2017-07-06) Read the full article
NVCA Chides Trump for Delaying International Entrepreneur Rule
Venture capital's national association has come out swinging against the Trump administration's decision to delay the International Entrepreneur Rule. A product of the final days of President Obama's administration, the rule was designed to let talented immigrant entrepreneurs stay in the U.S. to build their companies.
(Source: Tech Crunch, 2017-07-10) Read the full article
Second Quarter Saw Number of Biotech IPOs Double
The IPO market for drugmakers looked optimistic at the onset of 2017, but turned pretty drab by the end of the first quarter. Now, however, the rollercoaster has click-clicked up and out of that valley, toward a new peak, as more than a dozen medicines developers went public between April 1 and June 30.
(Source: BioPharma Dive, 2017-07-07) Read the full article
Tech Entrepreneurs Look Outside U.S. as Visa Struggle Worsens
With so much uncertainty about immigration and travel, Silicon Valley insiders say some foreign entrepreneurs are looking elsewhere. A study also showed that the proportion of immigrant founders in Silicon Valley declined since 2005 and warned that this should "raise questions about the United States' future ability to remain economically competitive in the international market."
(Source: Forbes.com, 2017-07-02) Read the full article
 
 
 
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Connect With Our Dealmakers at Opus Connect's New York City Chapter Event
Thomas Kesoglou Christopher Bordoni Chase Stuart

Ice Miller is proud to co-host the New York City Chapter of Opus Connect on Thursday, July 27, 2017 from 12:00-2:00 p.m. This month's topic will be: "Bridging the Price Gap in M&A Transactions: Suggestions and Insights for PE Buyers and their Portfolio Companies". We would be delighted for you to join us. Register here.

 

Ice Miller and Inside Indiana Business Internet of Things Podcast

Ice Miller's Internet of Things (IoT) Industry Group and Inside Indiana Business have developed an IoT podcast focused on the latest technology and innovation at the Crossroads of America. Check out Episode 1: Talking IoT With ClearObject CEO John McDonald here!

 

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Services Group

Ice Miller has been one of the most active law firms in the private equity industry over the last decade, representing both entrepreneurs building great companies and the private equity firms and individuals that invest in them.  We have extensive experience with all types of funds (formations and operations); mezzanine and senior secured financing; leveraged buyouts, roll-ups, build-ups, and consolidations; divestitures and exits; and complex litigation on behalf of investors and privately financed companies.  In addition, over the past 10 years, Ice Miller has represented hundreds of emerging growth businesses in various industries on such matters as entity formation, capitalization, capital raising, alternative financing, intellectual property rights and protection, growth and exit strategies, corporate governance, tax matters, and many other legal issues that are critical to the growth and success of an emerging company.

Read the complete profile of the Business Group.

Anthony Aaron
Fitz Angrand
James Banister
Richard Barnhart
Samuel Beavers
Christopher Bordoni
Edward Braum
Elizabeth Brier
Adam Calisoff
Kristine Camron
Timothy Capen
Joshua Christie
Ryanne Bush Dent
Jack Dillon
Dustin DuBois
Stephen Edwards
Michael P. Farrell
Jenny Frasier
Harry Gonso
Eric Goodman
Jon Groff
Stephen Hackman
David Hight
Paul Huddle
Steven Humke

Michelle Jensen
Michael Jordan
Josef Keglewitsch
Tom Kesoglou
Dean Leffelman
Kristen Maiorino
Christopher McCleary
Chris Michael
Laurie Miller
Michael Millikan
Robert Ouellette
Thomas Pampush
Megan Ryther
Audrey Schricker
Matthew Servies
Brent Showalter
Scott Snively
Dale Stackhouse
Emily Storm-Smith
Chase Stuart
John Thornburgh
Richard Thrapp
Kristina Tridico
Nancy Valentine

 

 
     
This publication is intended for general information purposes only and does not and is not intended to constitute legal advice.  The reader must consult with legal counsel to determine how laws or decisions discussed herein apply to the reader's specific circumstances.
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