PE take home case study help - what is an ABB participation?
Hi All,
Does anyone know what an "ABB participation" is when it comes to purchasing shares in a public company? I just recieved a take home case study where I am asked to assess an investment in a public company. I am asked to consider this investment through different stock purchase options, i.e. through open market purchase, through ABB participation or through a block trade.
I have never come across "ABB participation" before and Google does not provide me any sensible answers at all.
This case study is due within 48 hours so any help would be much appreciated!
Thank you all,
F1_button
This is essentially a hyper-accelerated tendered offering - the only time an ABB makes sense is when the company raising capital either can't obtain debt but needs capital quickly. I.E., a company might be levered to the tilt and suddenly a need to acquire, purchase new facilites, etc. arises - they undergo and ABB and can complete in less than two days. Underwriters I would say usually set a min price so as to share the risk pool.
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