News & Events
We are initiating coverage of Canopy Growth Corporation (TSX WEED; NYSE CGC) with a Buy rating and C$100 price target. Our positive view is based on Canopy's exposure to meaningful demand drivers that include 1) Canopy's early leadership in the medical cannabis market in Canada, 2), upcoming legalization of recreational cannabis in Canada, 3) international growth from countries that have legalized cannabis and likely future legalization of cannabis for medical and recreational use in the US and overseas, and 4) meaningful investment from Constellation Brands, which accelerates the ongoing build-out of its international production and distribution operations and domestic retail infrastructure to meet rapidly growing global demand, and which enables M&A opportunities and internal development of new brands and products that use cannabis as an active ingredient.
We are pleased to announce the hiring of Bruce Jackson as a Senior Analyst, covering the Healthcare - Medical Technology sector. Bruce is a seasoned and well-respected professional who joins us from Lake Street Capital Markets, where he was a VP – Sr. Equity Research Analyst for the last 5 years. Prior to Lake Street, Bruce had professional stops at Northland Securities, Morgan Joseph, RBC Capital Markets, and Wachovia Securities dating back to 2002.
Bruce is a graduate of the University of Wisconsin, where he earned a Bachelor of Arts degree, and then continued his education at Cornell University earning his Master’s in Business Administration. Bruce will be working out of Minneapolis and can be reached at (651) 315-2260 and firstname.lastname@example.org.
We are pleased to announce the addition of Adam Tracy to our San Francisco office in Sales Trading. Adam has significant experience, starting his career at Montgomery Securities, where he worked for twelve years. He moved on to Thomas Weisel as a Partner, and then continued on at Stifel Financial as a Managing Director, following its acquisition of Weisel. He is a graduate of Stanford University.
The Benchmark Company, in conjunction with Biofrontera AG (BFRA) (Frankfurt Stock Exchange:B8F) (“Biofrontera” or the “Company”), an international biopharmaceutical company, today announced the closing of a U.S. firm commitment underwritten public offering of American Depositary Shares ("ADSs"), at an offering price of $9.88 per ADS. Each ADS represents two of Biofrontera’s ordinary shares, nominal value €1.00 per share. The Company sold a total of 1,300,483 ADSs, including a full exercise by the underwriters of the over-allotment option to purchase 85,483 ADSs, which option exercise also closed today. The ADSs began trading on The NASDAQ Capital Market under the symbol “BFRA” on February 14, 2018. The Company received gross proceeds of approximately $12.9 million from the ADSs sold in this offering, before deducting underwriting discounts and commissions of approximately $1.0 million and other related expenses.
The Benchmark Company, LLC acted as Lead Managing Underwriter with Dawson James Securities, Inc. and Lake Street Capital Markets acted as co-managers. Dawson James Securities, Inc. acted as the “qualified independent underwriter” as in connection with this offering.
We are pleased to announce that Michael Jacobs has joined Benchmark as Head of Equity Capital Markets in our New York office. Prior to joining Benchmark, Michael was most recently at Axiom Capital. Michael has over 30 years’ experience as an investment banker and was the founder of Capital Growth Financial. He holds an MBA from the Stern School of Business and a BBA from Emory University.Read More
Fawne Jiang joins Benchmark as a Senior Equity Analyst covering Chinese Internet & Media stocks. She is well respected as an Asian Internet analyst where she focuses on local coverage and data points, which is highly valued by our clients. Fawne is accompanied by her associate Long Lin. Fawne and her team greatly expand Benchmark’s strengths in technology and media into a dynamic new area...Read More