Sample Solutions

Each of our solutions results from our work with management to structure and complete the financing best suited to their goals. Each is unique.

 

The sample list of completed financings is intended to reflect our long history and the diversity of our financing solutions.

 

We welcome the opportunity to discuss with you our potential contributions to your company’s progress.

     Microstrategy Incorporated     

        Gastar Exploration, Ltd.        

  Advanced Tissue Sciences, Inc. 

Promethean worked with management to structure a $125 million convertible preferred stock financing solution to fund the company’s rapid growth.

“After reviewing our options, we felt this financing offered us an excellent opportunity to advance our business,” said Mark S. Lynch, chief financial officer of Microstrategy® Incorporated. “It will allow us to continue to grow our business and promote our core brands, Microstrategy® and Strategy.com. As we have added 360 new employees last quarter and over 250 this quarter, we are pleased that by securing this funding we can move forward and execute on our business plan.”

Promethean worked with Gastar’s management to structure a $63 million senior secured note financing, plus equity to fund Gastar’s acquisition of additional leasehold and working interest properties in East Texas and the PowderRiver Basin. The structure also provided Gastar with the ability to call for an additional $20 million.

J. Russell Porter, Gastar’s President and CEO, commented, “The acquisition of the additional interests in Gastar’s Deep Bossier play in East Texas is an important step for Gastar in light of the fact that we will now have operational control over capital decisions involving drilling and leasing activities in the Deep Bossier play. In addition to operational control, the acquisition increases Gastar’s working interest position in the leases to an average of over 90% and thus creates the ability for Gastar to bring in an industry partner if it so elects and to be in control of other strategic decisions involving these assets…Overall the completion of this financing and the acquisition of the interests from Geostar provides a focused operational plan moving forward and an opportunity to create significant value for our shareholders.”

Promethean’s long-term working relationship with Advanced Tissue Sciences produced a variety of financial solutions intended to support different stages of development of Advanced Tissue’s wound healing technology, including the below-referenced $25 million convertible preferred stock issuance and $50 million equity line extension.

 

“This financing was primarily necessary to support clinical trials for Dermagraft(R) in the treatment of diabetic foot ulcers in the U.S. and for additional indications of Dermagraft such as in venous and pressure ulcers,” stated Arthur J. Benvenuto, Chairman and Chief Executive Officer, in addressing the placement of the Preferred Stock. Combined with the $15 million due in January 1999 related to the expansion of our Dermagraft Joint Venture with Smith & Nephew, we believe these financing actions provide us substantial flexibility in meeting the Company’s future financing needs. We are particularly pleased to have negotiated a structure which increases the conversion price of the Preferred Stock if the trading price of our Common Stock increases beyond certain levels.”

Each issuer, financial solution and experience is unique and will vary according to the specific circumstances of a particular financing.

Past performance is not indicative of future performance or success.

 

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