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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Managing Underwriter
The investment banking firm that leads and the underwriting syndicate for a public offering. The managing underwriter is listed on the left side of the prospectus or private placement memorandum.
Market Standoff
See Lock Up.
Market Value
For a public company, it is generally the company's price per share times the number of shares issued and outstanding, or the Enterprise Value minus the company's debt. For a private company see Fair Market Value.
Maturity Date
The date when a financial instrument is due.
Memorandum
An information document prepared by a company and its advisors to present information about its business for the sale of the company's assets or the sale of a portion or all of the company's securities. See Offering Document.
Merger
The combination of two or more companies.
Merger Premium
The portion of a buy-out offer in excess of the Fair Market Value of the target company immediately prior to the offer.
Mezzanine Securities
Generally refers to securities that have the characteristics of both debt and equity securities and have a liquidation preference ahead of common stock. Examples of mezzanine securities include subordinated debt with warrants or various forms of convertible preferred stock. See Preferred Stock.
Middle Market
Companies with sales between approximately $10-$100 million.
Mini/Maxi Offering
A best efforts offering in which a company will raise no more than a maximum amount of funds or number of securities will be sold and the funds from investors will not accepted by the company unless a minimum specified dollar amount or number of securities is sold.
Mortgage Agreement
A contractual loan agreement collateralized by real estate.
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