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JonesTrading Institutional Services LLC (“JonesTrading”) today announced that its Investment Banking Group acted as sole book-running manager for Seven Oak’s Acquisition Corp’s (Nasdaq: SVOKU) December 2020 $225 million IPO raise. Seven Oaks Acquisition now commands an estimated market value of $250 million. National Securities Corporation, a wholly owned subsidiary of National Holdings Corporation (Nasdaq CM: NHLD), served as lead manager for the offering. Academy Securities, Loop Capital Markets and Tigress Financial Partners acted as co-managers.
Seven Oaks Acquisition Corp., led by Chairman and CEO Gary Matthews, is a special purpose acquisition company formed for the purpose of entering into a business combination with one or more businesses. While the Company may pursue a business combination in any industry, the Company focuses on companies with strong Environmental, Social and Governance (ESG) practices or the ability to materially improve such practices.
CEO and Chairman Gary Matthews previously served as CEO of IES Holdings (Nasdaq: IESC) and was a Managing Director at Morgan Stanley Capital Partners. He is joined by CFO Andrew Pearson, who founded Soundview Advisors in 2019 after spending more than two-decades with General Atlantic.
Alan Hill, CEO of JonesTrading, said: “Our Investment Bank Group has served our institutional clients and corporations since 2007. Its alternative financing strategies can be customized to fit any corporate strategy. Through its full suite of banking products, our corporate customers raise capital in a more efficient, flexible, and economical way. The Seven Oaks IPO, where we acted as sole book runner, is a confirmation that our model provides an efficient mechanism for managers to meet the mandates of their offerings.”
Said Gary Matthews, Chairman and CEO of Seven Oaks Corp: “Working with Jones and their Investment Banking Team has been an absolute pleasure. Their commitment to the IPO was unparalleled and their execution was first class. They supported us from the first organizational meeting all the way through the IPO, exactly as they promised.” He continued: “The depth and breadth of JonesTrading’s relationships is first rate, based on trust and integrity. I look forward to following the growth of the Investment Bank.”
Said Moe Cohen, Managing Director and Head of Investment Banking of JonesTrading: “Our Group provides clients with a bespoke approach to their investment banking needs. We tailor our offering to each client, ensuring that the capital raise matches their intent and their strategy is understood and met. This philosophy is consistent with JonesTrading’s approach to all of our securities businesses.”
