Simpson Thacher Represents Underwriters in $128 Million IPO of Eagle Growth and Income Opportunities Fund
07.13.15
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Simpson Thacher represented the underwriters, led by Raymond James & Associates, Inc. and Stifel, Nicolaus & Company, Incorporated, in connection with the initial public offering of Eagle Growth and Income Opportunities Fund (the "Fund"). The offering raised approximately $128 million, which would increase to approximately $147 million assuming full exercise of the overallotment option.
The Fund is a recently organized, non-diversified, closed-end management investment company which trades on the New York Stock Exchange under the symbol "EGIF." The Fund’s investment objective is to provide total return through a combination of current income and capital appreciation. The Fund seeks to achieve its investment objective by investing at least 80% of its managed assets in dividend or other income paying equity securities and debt securities, excluding securities that distribute a return of capital, original issue discount bonds and payment-in-kind debt instruments. Four Wood Capital Advisors LLC is the Fund’s investment adviser. Eagle Asset Management, Inc. serves as the subadviser responsible for the management of the Fund's portfolio of equity and debt securities, and Recon Capital Partners, LLC serves as the subadviser responsible for the management of the Fund's options writing strategy.
The Simpson Thacher team for the transaction included Sarah Cogan, Rafael Vasquez, Sonya Ho and Alejandro Mila Valle (Capital Markets); Jonathan Cantor and Devin Heckman (Tax); Joyce Xu, Chava Schwebel and Chuan Liu (Derivatives); and Jennie Getsin (Blue Sky and FINRA). Summer associate Natalie Marcoux also provided valuable assistance.