Ironridge global brochure 2012

Ironridge Global Partners, LLC.

Ironridge Global Partners, LLC铁锋全球证劵全球合作夥伴有限責任公司

www.ironridgeglobal.com 1

IronrIdGe is a long-only institutional

investor, making direct equity investments in

small cap public companies.

We entered into twenty financing

transactions last year, ranging in size from a

quarter million to $10 million each, for issuers

ranging from exchange-listed companies

on nASdAQ and nYSe Amex to oTC

Bulletin Board and non-reporting Pink Sheets

companies. Most were for preferred or common

stock with no warrants, rights of first refusal or

other restrictive covenants. Ironridge has never

shorted a single share of any company’s stock,

and we remain a common stockholder of every

company we have invested in since inception.

Ironridge’s principals have handled

several hundred billion dollars in public

company financing transactions over more

than two decades. our extensive industry

experience includes: life sciences, energy,

natural resources, consumer products, media

and technology.

our high level of expertise enables

Ironridge to structure flexible financial solutions

appropriate for each individual situation, and to

complete transactions quickly and efficiently.

San Francisco – Los Angeles – new York

Copyright © 2012 Ironridge Global Part-ners, LLC. All rights reserved.

Ironr

idge

Glo

bal P

artn

ers

The Firm铁锋全球证劵

2

铁锋全球证劵是一个多

头长期的机构投资者，直接股权

投资中小盘的上市公司。

去年我们完成了20个投资交

易，每项投资范围大小介于25万

到1000万美元之间，发行人分布

在纳斯达克和纽交所的交易所的

上市公司，及场外交易公告牌和

非报告粉红单的公司不等。大多

数为优先股或没有权证的普通股

票，优先购买权或其他限制性契

约的权利。铁锋全球证劵从来没

有卖空任何一家公司的股票。自

今我们仍然是每一个公司，自投

资以来的共同股东。

铁锋全球证劵的经理们，在上

市公司处理了数千亿美元的投资

交易超过二十年以上。我们丰富

的行业经验包括：生命科学，能

源，自然资源，消费品，媒体和

技术。

我们高层次的专业知识，使

我们能够基于每家公司的独特情

况快速灵活的企划投资方案，快

速，高效地完成交易。


Investment Approach

Ironridge Global Partners, LLC is a

long-only institutional investor that assists

public companies in financing operations and

expansion. By supplying innovative financing

solutions and flexible capital, Ironridge seeks

to unlock the full potential of cash-constrained

businesses. The firm’s core objective is to

propel high growth companies in building faster

growing and more profitable enterprises.

Ironridge brings traditional private

equity financial sophistication to small cap

public companies. The firm does not desire

to influence or control management, will

not restrict use of proceeds and requires no

restrictive covenants. We will never take an

affiliate or control position in companies.

Ironridge exclusively places its trust in current

management with strong vision for accelerated

growth and increased shareholder value.

Ironridge takes a tailored approach to

understanding smaller companies and their

unique financial situation, needs and goals.

The firm has unbridled flexibility to create

innovative and mutually beneficial financial

structures, and develop individual solutions

appropriate to current company and market

conditions.

The firm acts as a passive capital partner

geared to provide the lowest available cost of

capital. Ironridge has developed processes

enabling the firm to quickly structure flexible

financial solutions based upon each company’s

unique situation, perform expedited and

streamlined due diligence, make decisions and

close transactions quickly and efficiently.

Transactions completed with Ironridge

are far superior to traditional registered directs,

PIPeS or equity lines. Ironridge is not a hedge

fund, does not request anti-dilution protection,

or require any restrictive covenants.

铁锋全球证劵全球合

作伙伴有限责任公司是一个只做

多头的机构投资者，协助上市公

司在业务上募资和企业的扩展。

通过提供创新的投资解决方案和

灵活的资本中，铁锋全球证劵寻

求解开现金约束企业全面发展的

Philo

soph

y

我们的投资理念与程序

4

5

我们公司作为一个被动的

资本合作伙伴，向厂商提供最

低成本的资本。铁锋全球证劵

已开发的投资程序，使我们能

根据每家公司的独特情况，快

速建构灵活的金融解决方案；

加速执行和简化尽职调查的过

程，迅速和有效地作出决定，

完成投资交易。

与铁锋全球证劵所完成的交

易是远远优于传统的登记直接

发行、上市公司私募融资或股

本额度。铁锋全球证劵不是对

冲基金，不要求反稀释保护，

或要求任何限制性契约。完成

投資交易。

與铁锋全球证劵所完成的交易

是遠遠優於傳統的登記直接發

行，上市公司私募融資或股本

額度。铁锋全球证劵不是對沖

基金，不要求反稀釋保護，或

要求任何限制性契約。

潜力。铁锋全球证劵的核心目标

是推动高成长型企业，以促成更

快的增长和更有利可图的企业。

铁锋全球证劵将传统私人股

权募资的专业知识，灵活运用在

小盘上市公司。铁锋全球证劵并

不希望影响或控制管理其所投资

的上市公司；不会限制我们所投

资公司的资金使用途径；我们不

会要求立订限制性契约。铁锋全

球证劵绝不会对所投资公司采取

掌控的位置或使其成为我们的附

属机构。铁锋全球证劵完全信任

我们所投资的公司其目前的经营

团队；对其经营发展的远见与快

速成长以增加股东价值采取完全

信任。

铁锋全球证劵根据小盘规

模的上市公司，其独特的财务状

况、需求和目标，量身定制投资

的方案。我们公司拥有无拘束的

灵活性；以独特创新的专业知识

和互利的金融结构，根据目前的

公司和市场条件，提出相适应的

个性化解决方案。

我们的投资理念与程序

The principals of Ironridge have completed billions of dollars in private placements and public offerings of debt and equity securities over more than two decades.


Man

agin

g Di

rect

or

John C. Kirkland

John has handled several hundred billion

dollars in public offerings and private

placements of debt and equity securities for

clients such as Goldman Sachs, Ge Capital,

and Bank of America. As a practicing securities

attorney for over 20 years, he was known

for developing unique and innovative public

company financing structures.

John was most recently partner in charge of

the securities group at Luce Forward, was

previously partner in charge of the securities

practice at the Los Angeles office of Greenberg

Traurig, and began his legal career at

Cadwalader Wickersham & Taft.

John is the author of “Practical Approaches

to Securities Compliance Issues,” SeC

Compliance Best Practices (Thomson reuters

2010 ed.), and various articles on securities

topics. He has been repeatedly listed in Who’s

Who in American Law and Southern California

Super Lawyers, and quoted in publications such

as the Wall Street Journal, Cnn, Los Angeles

Times and new York Times.

John received his BA in Biology-Psychology

from Columbia University, and his Jd from

UCLA School of Law.

direct: 310-935-3900Mobile: [email protected]://www.linkedin.com/in/jkirkland

铁锋全球证劵的董事总经理們已經完成了超過二十

年數十億美元的私募和公開發行的債務及股本證券。

6

柯约翰曾经为高盛集团、波

音金融公司和美国银行等客户，

代理过数十亿美元的公募和私募

债务和股本证券业务。作为从业

20多年的证券法律师，他最擅长

建立独特和创新的公共公司财务

结构。

柯约翰最近之前都还是Luce

Forward Hamilton & Scripps

的合伙人并负责证券组。在這

之前担任Greenberg Traurig (

格林伯格特劳里格有限责任公

司)洛杉矶办公室负责证券业

务的合伙人，并在Cadwalader

Wickersham & Taft (凯威莱德

国际律师事务所)，开始他的律

师生涯。

柯约翰曾经发表了有关证券方

面的多篇文章，包括在汤森路透

2010期刊上发表的“证券交易遵

守法规相关实际应用方法：遵守

美国证券交易委员会相关规定的

最好实践”。他多次在“美国法

律名人堂”

和“南加州

超级律师”

中榜上有

名。华尔街

日报、纽约

时报和洛杉

矶时报也常常引用他的作品。

柯约翰于哥伦比亚大学获得生

物心理学本科学位，并于加州大

学洛杉矶分校法学院获得法学博

士学位。

柯约翰

董事总经理


The principals of Ironridge have completed billions of


Brendan T. O’Neil, CFA

Man

agin

g Di

rect

or

Brendan has extensive experience in

financial and industry analysis, restructurings,

negotiating and structuring direct investments,

derivative strategies and portfolio risk

management.

Brendan served as President and Chief

Investment Officer for Enable Growth Partners

LP from its inception in 2003 until december

2009. enable was one of the largest and most

active funds in its strategy, completing over

500 financing transactions and investing more

than $600 million in life science, technology,

energy, cleantech, and consumer companies.

Brendan has held senior Investment Banking

and Sales positions at enable Capital LLC, The

Shemano Group, Sutro & Company, Morgan

Stanley dean Witter & Co., and Salomon

Smith Barney.

Brendan has earned the Chartered

Financial Analyst designation, and is a member

of the Securities Analysts Association of San

Francisco. He received his BA in Finance and

MS in Financial Analysis from The University

of San Francisco.

direct: 415-658-9545Mobile: [email protected] http://www.linkedin.com/pub/brendan-o-neil-cfa/5/591/81



8

歐陽鵏豋在金融和企业分

析、重组、谈判和构建直接投

资、衍生战略和证券风险管理

上，有着极为丰富的经验。歐

陽鵏豋於2003年Enable Growth

Partners LP成立以來直到2009

年12月期間，擔任其主席和首席

投資官。Enable该公司是世界上

最大的和最活跃的战略基金之

一。该基金总共完成了超過500

多件金融交易和超过6亿美元的

投资，投资领域包括生命科学、

科技、能源、回收再生能源技

术、消费产品公司。

他曾经先后在Enable Capital

LLC、 The Shemano Group、

Sutro & Company、Morgan

Stanley Dean Witter & Co.(

摩根士丹利添惠公司)和Salomon

Smith Barney(所罗门美邦)等公

司，担任首席投资银行和销售职

务。

歐陽鵏豋

从三藩市大

学获得了金

融本科学位

和金融分析

硕士学位，

之后还获得

了注册金融分析师资格，目前还

是“三藩市证券分析师协会”的

成员。

歐陽鵏

董事总经理

歐陽鵏豋

董事总经理



Richard H. KregerM

anag

ing

Dire

ctor

direct (203)571-7237Mobile (845)[email protected]://www.linkedin.com/in/richardh-kreger

rich has significant experience as both a

banker and an investor. His creativity and well

rounded background offer a unique perspective,

invaluable to his work in structuring and

negotiating investments.

rich was most recently Senior Managing

director and Co-head of Investment Banking

at Source Capital Group, where he expanded

their public offering and private placement

practice. He was previously Senior Managing

director, Investment Banking at Maxim Group.

From 2004 to 2008, rich was Senior Vice

President, Investment Banking at Midtown

Partners, where he was a driving force in the

firm becoming the No. 5 most active placement

agent in the country for PIPe transactions, no.

2 for companies with market capitalization

below $100 million, and no. 1 for market caps

below $50 million. rich was an Investment

Banker with HC Wainwright when the firm

was the third most active placement agent in

the country for PIPes. He was the founding

senior managing member of Kreger rohan

Capital Management which managed the Crisis

Value Fund LP which had a cumulative return

of about 50% over the three years.

rich received his BS in Business

Administration with a concentration in Finance

and Marketing from University of Vermont.



10

桂理查不仅是一个富有经验

的银行家，也是一个出色的投资

家。他的创造性和優秀的背景，

使得他拥有独特的视角，为他架

构和谈判投资工作助益良多。

桂理查最近曾经担任 Source

Capital Group资深执行总经理和

投资银行业务的共同主席，帮助

该公司扩展了公募和私募业务。

在这之前，他还担任了Maxim

Group投资银行业务的资深执行

总经理。从2004年到2008年，

他担任Midtown Partners投资银

行业务的资深副总裁，并使得公

司业务突飞猛进，成为全国第五

活跃的公共证券交易代理商、总

市值在1亿美元以下公司的第二

名、总市值在5000万美元以下公

司的第一名。当HC Wainwright

是全国第三活跃的公共证券交

易代理商时，理查担任该公司

的投资银行家。他也是Kreger

Rohan Capital Management的

创始资深管

理成员，该

基金会负责

管理Crisis

Value Fund

LP，并连续

三年带来大

约50%的利润。

桂理查从Vermont大学获得了

商业管理的本科学位，他在就读

该学位期间的专业方向是金融和

市场。

桂理查

董事总经理


LIFE

Pro

gram

our Liability for equity (LIFe) program

allows public companies to satisfy trade

payables, debts and other liabilities in exchange

for unregistered common stock. Ironridge is

the industry leader in this innovative financing

structure, which substantially reduces the

transactional costs and time necessary to

complete a financing.

We will pay a company’s creditors in

cash, in exchange for an assignment of their

accounts, and then agree with the Company

to satisfy its payables for common stock. no

registration statement is required, and there are

no registration rights.

Issuers can use a LIFe exchange to clean

up their balance sheet, by converting short

and long-term debt to equity. This allows

companies to repurpose their resources away

from paying existing obligations and toward

funding future growth.

LIFe transactions are most typically used

to pay off outstanding accounts payable owed to

service providers such as lawyers, accountants,

landlords and investor relations firms, as

well as products suppliers, manufacturers,

equipment dealers and other key vendors. We

can also repay promissory notes, debentures

and outstanding loan balances.

If a company is cash constrained and

managing outgoing cash flow, the LIFE program

can renew and strengthen vendor relationships.

Ironridge takes guidance from the company on

payment terms and priority, and which creditors

are best suited for the program.

In our experience, the program works

equally well for current accounts. Although

companies remain free to negotiate excessive

invoices, Ironridge typically pays creditors 100

cents on the dollar.

In addition to standard and customary

due diligence, the LIFE program has specific

protocols and procedures to ensure full

LIFE

12

compliance with applicable and other laws.

requirements vary depending on the nature

and age of the obligations, the reporting

status of the issuer, affiliate relationships and

insider status. This type of transaction requires

specific expertise to ensure compliance with all

regulatory requirements.

Copyright © 2012 Ironridge Global Partners, LLC. All rights reserved.


債務轉換程序

铁锋全球证劵将债务

转换成股票（LIFE）的程序；

允许上市公司，通过发行未经

注册的普通股股票筹集资金，

用此融资以支付应付账款，债

务及其他负债。铁锋全球证劵是

在此行业中的佼佼领导者，以这

种创新的投资结构，从而大大降

低交易成本和时间以完成投资。

铁锋全球证劵向公司的债权人

直接支付现金，请其转让债务；

并取得公司同意以普通股股票，

满足其应付账款。没有注册声明

是必需的，也没有登记的权利。

发行人可以用债务转换成股

票（LIFE）的程序，清理其资

产负债表内的短期和长期债

务。这使公司能够重新利用他

们的资源，远离支付现有的义

务和对未来的成长提供资金。

债务转换的交易，最常用于支付

公司所欠提供商的服务费用，如

律师、会计师、房东、公关公

司；以及产品的供应商，制造

商，设备商和其他主要供应商的

欠帐还清。我们也可以偿还承兑

票据，债券及未偿还贷款余额。

如果公司的现金短缺而必须管

理现金流量；此债务转换程序

（LIFE），可以恢复并加强与供

应商的关系。铁锋全球证劵依据

公司的指导下，提出最适合方案

的付款条件和债权人优先顺序。

根据我们的经验，该方

案同样适用于经常账户。虽

然公司保持谈判以减低其应

付帐款的自由；铁锋全球证

劵基本上是支付公司的债权

人其所有的全部应收帐款。

除了标准和惯性的尽职调查，

债务转换程序（LIFE）有具体的

协议和程序，以确保完全符合适

铁锋全球证劵将上市公司的债务转换成股票的交易程序LI

FE P

rogr

am

1514

用和其他法律。铁锋全球证劵依

据公司债务的性质和时间长短；

依据发行人，及其相关企业和内

部状态所提出的报告状态而对投

资的要求各有不同。这种类型的

交易需要特定的专业知识，以确

保符合所有监管要求。

版权所有© 2012年铁锋全球证劵

全球合作伙伴有限责任公司。保

留所有权利。

铁锋全球证劵将上市公司的债务转换成股票的交易程序


Trading MarketsIn

vest

men

ts

New York Stock Exchange · London Stock Exchange ·

NASDAQ Stock Market · AIM ·

NYSE Amex · TSX Venture Exchange ·

OTCQX · Toronto Stock Exchange ·

OTC Bulletin Board · Borsa Italiana ·

Pink Sheets · ASX ·

Frankfurt Stock Exchange ·

Ironridge will finance companies trading on virtually any stock exchange or over-the-counter securities market worldwide including, but not limited to:

Ironridge does not invest in private companies, or in companies that are publicly reporting but do

not trade.

·纽约证券交易所 ·伦敦证券交易所

·纳斯达克股票市场 ·AIM

·纽交所 ·TSX创业交易所

·OTCQX ·多伦多证券交易所

·场外交易公告牌 ·意大利证交所

·粉红单 ·澳交所

·法兰克福证券交易所

铁锋全球证劵將投资的公司，其股票證券在任何一個證券交

易所或全球市場的櫃檯市場交易，包括但不限於：

铁锋全球证劵不投资私人公司；或有公开报告，但不交易的上市公司。

16

The Fund 基金

Stoc

k Ex

chan

ge

Ironridge is fully funded and we are not

accepting additional investments. We do not

accept additional capital from outside third

parties. nothing contained on this website or

in our materials constitutes an offer to sell or a

solicitation of an offer to buy securities.

Ironridge is the sole participant in vast

majority of our financing transactions. In

limited circumstances, we may permit co-

investment by strategic investors with deep

industry experience and an established track

record of long-term holding, if we believe they

will add value.

Ironridge is not a hedge fund and we do

not publicly disclose our assets or financial

strategies. Because Ironridge is not dependant

on syndicates or third party financing, we are

uniquely positioned to structure, negotiate and

execute transactions in a timely manner with a

high degree of certainty.

铁锋全球证劵拥有充

分的资金，我们不接受额外的

投资。我们不接受来自外部第三

方额外的资金。在我们的网站或

书面文件中所包含的任何内容，

都不构成要约征求出售或购买证

券。

铁锋全球证劵在众多的投资

交易中是主要的参与者。在有限

度的情况下，我们可能会允许具

有深厚金融行业经验，并建立有

长期持有纪录的战略投资者参与

合作投资；如果我们相信他们会

增加价值。

铁锋全球证劵不是一個對沖基

金，我們不公開我們的資產或財

務戰略。因為铁锋全球证劵是

不依賴於集團或第三方融資，我

們有得天獨厚的優勢，能及時與

果斷底地去結構、談判與執行融

資交易。


“I worked with John and his [Ironridge]

group to provide capital for a micro-cap

company. John is very knowledgable and has

been a strong resource for our company.”

“我曾与柯约翰合作过；他的铁

锋全球证劵集团提供一个微型市值公

司的资本。约翰是非常有见地，一直

是我们公司能力强大的智谋。”

Tim ondrak, VP of Finance

High Plains Gas, Inc.

vvv

“Brendan returns 100% of his phone calls

in a timely fashion. We were very satisfied with

the $2.5 million funding [Ironridge] closed for

a client of ours in 10 days. Excellent job.”

“欧阳鵏豋总是及时回他的所

有电话。我们非常满意铁锋全球证

劵；250万美元的资金，为我们的客

户在10天内完成。好棒。”

Jack Wright, Ph.d., director of

Investment Banking

Galileo Asset Managemen

vvv

“one of my clients worked with richard

and Ironridge Global on a financing. Richard

always delivered what he promised and did

a great job working with my client on the

financing. I will look for other opportunities to

work with Richard on future financings.”

“我的客户之一曾与桂理查和铁

锋全球证劵合作过募资。桂理查始终

做到他所承诺的事情，与我客户的募

资，他们做了很好的工作。我将寻找

其他的机会，与桂理查作未来的募资

工作。”

Jonathan B. Wilson, esq.

Taylor english

vvv

“John and his team at Ironridge were a

pleasure to work with, professional, prompt

and efficient.”

“与柯约翰和他的铁锋全球证劵

团队合作是一件愉快的事情。专业、

及时与高效率工作。”

robert Marese, executive Vice President

MacKenzie Partners, Inc

Reco

mm

enda

tions

Testimonials推荐书

20

Indu

strie

s

并与公司合作无间的人，那就拿

起电话致电欧阳鵏豋。对于所有的募

资要求，我强烈推荐在铁锋全球证劵

的欧阳鵏豋和他的团队。”

Matthew Schissler

Chairman & Ceo

Cord Blood America, Inc.

vvv

“rich is extremely smart and very

creative. I enjoy working with him on many

financing projects.”

“桂理查是个非常聪明，非常有

创意的人。我喜欢在许多的募资项目

与他合作。”

Leonard Parisi, Senior Vice President

Maxim Group LLC

vvv

vvv.

“Brendan o’neil has been a true

investment partner of CBAI for many years.

He has provided investment capital at both the

best of times and most difficult times, with his

eye squarely on the company’s success. He

understands the needs of growth companies

and works both in a business and a personal

manner to achieve greatness alongside the

investment. If you are looking for growth

capital from a person who understands and

works with the company, pick up the phone and

call Brendan. For all financing requirements,

I highly recommend Brendan and his team at

Ironridge.”

“欧阳鵏豋一直投资我们CBAI，

是美国脐带血公司真正多年的合作

伙伴。在我们最好的时间和最困难的

时候，他都同时提供投资资本；他的

眼睛正视公司的成功。他明白成长型

企业的需求，同时；无论是对一个企

业和个人，他的模式实现投资与周边

利益的巨大成就。如果您正在寻找公

司成长所需的资本，需要一个能理解


Industry Sectors产业部门

Aerospace & Defense · Alternative Energy ·

Biopharma · Biotech ·

Cleantech · Communications ·

Consumer Products · Emerging Growth ·

Energy · Healthcare ·

Life Sciences · IT & Software ·

Media & Entertainment · Logistics & Transportation ·

· Natural Resources Oil & Gas ·

· Technology Security ·

Ironridge’s investment philosophy is based on fundamental analysis of individual companies, independent of their industry or sector. Industries in which we have particular expertise or have recently invested include:

2522

Rewa

rd E

rogr

am

·航空航天与国防 ·替代能源

·生物制药 ·生物技术

·清洁能源 ·通讯

·消费类产品 ·并购成长

·能源 ·医疗保健

·生命科学 ·资讯科技及软件业

·媒体和娱乐 ·物流运输

·自然资源 ·石油和天然气

·科技 ·保全

铁锋全球证劵的投资理念基本上，是根据个别公司、独立的

行业或其产业部门的基本面分析。我们有特殊专业知识或最近投资的行

业，包括：


Ironridge welcomes referrals of qualified

investment opportunities from any individual

or entity, including: finders, placement agents,

investment bankers, financial intermediaries,

business brokers, broker dealers, investor

relations firms, accountants, lawyers, and other

professional service providers.

Please contact us for details on the

Ironridge referral program.

铁锋全球证劵欢迎合格的投资

机会，对于成功的投资交易必

有酬庸。任何个人或企业的辗转

介绍；包括：中间人，配售代理

人，投资银行家，金融中介，业

务经纪人，券商，投资者关系公

司，会计师，律师和其他专业服

务提供商。铁锋全球证劵推荐计

划的详细信息，请联系我们。

Referrals介紹人

2724

One Montgomery Tower

1 Montgomery Street Suite 2575

San Francisco, CA 94104-4505

Telephone: 415-658-9550

Fax: 415-658-9535

Chrysler Building

405 Lexington Avenue 26th Floor

New York, NY 10174-2699

Telephone: 212-829-4316

Fax: 917-368-8005

Palisades Village Center

881 Alma Real Drive Suite 305

Los Angeles, CA 90272-3731

Telephone: 310-935-3900

Fax: 310-935-3838

IRONRIDGE GLOBAL PARTNERS, LLC.

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Ironridge Global Partners, LLC.

www.ironridgeglobal.com

San Francisco v Los Angeles v New York

Biotech NAturAL reSourceS coNSumer ProductS

LogiSticS & trANSPortAtioN LiFe ScieNceS techNoLogY

heALthcAre it & SoFtwAre AeroSPAce & deFeNSe

commuNicAtioNS

ArtiFiciAL iNteLLigeNce

cLeANtech

oiL & gAS

SecuritY

mediA & eNtertAiNmeNt

Ironridge global brochure 2012

Economy & Finance

Transcript of Ironridge global brochure 2012