While we have the ability to process trades in various types of stock, our focus is to provide opportunities in illiquid situations. In the current market, it is common for a traditional lender to end up owning the common equity of a company through a debt for equity exchange, often through the bankruptcy process. The post-reorganization equity may be closely held by a small group of former lenders of the company. We provide a means to exit these positions and secure a cash recovery for the new equity holders.
In addition, our institutional sales and trading group is able to assist the investment banking and restructuring group in the placement of PIPE, registered directs and other equity transactions, giving us an advantage over many of our competitors.