Founded in 1992 by senior executives with entrepreneurial, line operating, and bulge bracket investment banking experience.
During the month of March 2010, Avalon, as the sole placement agent, raised Frederick's of Hollywood Group Inc. $3mm in common stock and warrants.
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Balance Sheet
A financial statement as of a particular date that includes the company's assets, liabilities and equity.
Bankruptcy
The condition of being unable to pay debts and having filed with a court seeking the reorganization or liquidation of a company.
Basis
See Original Basis or Current Basis.
Basket
Generally amounts that are established in an agreement either to cap claims or set limits below which minor breaches do not lead to claims.
Best Efforts Offering
A securities offering in which the underwriter is only committed to sell as many securities as possible at the price agreed to between the company and the underwriter and is not obligated to purchase securities not sold. (See Mini/Maxi Offering.)
Beta
A measure of volatility of a stock relative to the overall market. A beta of more than one indicates higher risk than the market and a beta of less than one indicates lower risk than the market.
Blank Check Preferred Stock
Shares of preferred stock that are authorized by a company, but not issued, nor have it's specific rights and preferences been fixed. The board of directors can establish the specific rights and preferences of one or more offerings of blank check preferred, without receiving additional stockholder approval, provided the rights and preferences are by agreement or within the limits established in the company's certificate of incorporation. The existence of blank check preferred permits a company to structure, offer, and sell a financing quickly and privately.
Blue Sky Laws
State securities laws with which a company selling securities in that state must comply.
Board of Directors
The individuals whose collective legal responsibility it is to manage the business and operations of a corporation. Most boards of directors provide oversight authority over management who run the day-to-day operations of a company. The certificate of incorporation and bylaws establish the number of directors for each company, either a range (e.g., five to nine, as determined by the stockholders) or a fixed number (often an odd number to avoid voting deadlocks).
Book Value
A company's book value or net worth is its total assets minus intangible assets, debt and other liabilities. A company's book value might be more or less than its Market Value.
Break-even Analysis
An analysis of the sales level at which a project would make zero profit; sales above that level are expected to produce profits.
Business Broker
Professionals who assist in arranging the financing, purchase or sale of a business.
Bylaws
A company's charter document that governs basic corporate activities, internal procedures and certain of the substantive rights relating to the authority of the board of directors, meetings of the board and stockholders, voting rights, the election and duties of officers, indemnification, and other matters.
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