Credit Suisse Investment Banking Pitch Book
Osprey annotated historical stock price performance
($ per share)
Osprey stock price
$20.00
$16.00
11/4/2014: Announces strategic
relationship and investment with GSO and
Franklin Square consisting of $300mm of
$18.00 sub notes and 12mm warrants exercisable at
$12.62
$14.00
$12.00
$10.00
$8.00
$6.00
$4.00
$2.00
12/4/2014: Closes
$200mm initial GSO
investment (1)
Current
10/3/17
$11.88
10/3/14
3/24/2015: Board
authorizes
repurchase of 1mm
common shares
4/15/2015: Fitch
assigns BB- long-term
rating to Osprey with
stable outlook
One-month
$11.26
5/8/15
Three-months
$10.95
4/17/2015: Prices
$300mm of 7.25%
senior notes
11/9/2015: Prices
$80mm of 7.25%
senior notes
10/7/2015: Completes
acquisition of Boston-based
alternative asset manager
Feingold O'Keeffe Capital
(acquisition adds $2.3bn to
Osprey's AUM); Board authorizes
new $5mm share repurchase plan
12/15/15
Average
Six-months
$10.55
2/11/2016: Board
authorizes expansion
of share buyback
One-year
$10.06
11/8/2016: Capital Z Partners
and Corsair Capital Partners
make pro rata distribution to
limited partners with effect of
reducing ownership in Osprey
from -20% to -10%,
respectively
3/31/2016: Sterling National
Bank acquires Osprey's ABL
subsidiary for $112mm in
cash, at -6% premium of
gross loans receivables
7/21/16
Stock price
PRELIMINARY | SUBJECT TO FURTHER REVIEW & REVISION
Three-year
$10.06
2/14/2017: Declares
first quarterly dividend
of $0.02 per common
share
12/1/2016: Radius Bank
acquires Osprey's equipment
finance business for $140mm
in cash, representing -5%
premium to net investment in
receivables
Source: Public filings and FactSet as of 10/3/17.
During 03 2015, 04 2015 and 01 2016, Osprey drew an additional, $50mm, $25mm and $25mm, respectively. The commitment is fully drawn.
2/24/17
52-week intraday
High
$11.99
7/7/2017: Announces
acquisition of Fifth
Street CLO
Management LLC for
$16mm
12/9/2016: Board
authorizes $30mm
share buyback
program
Low
$8.03
y$11.88 (10/3/17)
10/3/17
Confidential
11
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