What is an at-the-market offering, or ATM? How does it work? How is it beneficial?
Those are the types of questions that Brinson Patrick Securities had heard many times before the investment bank began working with Russo Partners.
While at-the-market (ATM) financing vehicles are an important and efficient way to raise capital over time for a publically traded company, there was not broad awareness of this alternative method of financing in the healthcare business community.
After a detailed analysis of the company and the situation, Russo Partners’ recommended that Brinson Patrick publicize data that quantify the amount of funding raised by life science companies through ATMs on a quarterly basis in the form of a news release. In fact, this data was already collected by Brinson Patrick for internal use, so the exercise proved to be an efficient re-appropriation of already available resources.
Armed with the first quarter news release, Russo Partners reached out to specific media targets at financial publications covering this space. Russo Partners succeeded in securing multiple high-profile opportunities for the company, and, through this process, was able to build awareness of ATMs among members of the media and the healthcare community at large.
On Monday, Brinson Patrick distributed its second news release on the amount of capital raised by life sciences companies through the use of ATM offerings during the second quarter, with the intent to replicate the past media success.
Below are links to the second quarter news release, as well as examples of key coverage we were able to generate with the first quarter news release: