2013-01-15 15:03:17 -
Merriman Capital Partners with AX Trading to Launch DirectAX for Issuers and
Sponsors
Public Companies & PE/VC Firms Can Now Leverage The AX Auction
(Stamford, CT: January 15, 2013) AX Trading announced the launch of "DirectAX,"
a unique offering that allows investment banks working on behalf of issuing
companies and Private Equity/Venture Capital firms to leverage The AX auction to
sell blocks of stock directly to leading institutional investors.
Merriman Capital, Inc., a wholly owned subsidiary of Merriman Holdings, Inc.
(OTCQX: MERR), a San Francisco-based, boutique investment bank and brokerage
firm has partnered with The AX to take DirectAX to its clients. Over the last
ten years, Merriman has closed over $9 billion in financing transactions for
small and micro cap companies.
Using DirectAX, Merriman Capital is able to securely and efficiently sell
registered shares on behalf of their corporate, PE and VC clients directly to a
broad group of institutional investors via The AX auction. AX also intends to
add the ability to conduct corporate buybacks via the AX auction as well.
This partnership makes The AX Trading Network available to issuing companies
that have an outstanding shelf offering and to private equity and venture
capital firms that own registered, unrestricted shares of public companies. The
AX auction process helps ensure that the selling sponsor receives the best price
for their shares and presents a level playing field for all institutional
clients who purchase shares in the auction.
"The AX Trading Network is all about connecting equity market participants in a
secure environment," said AX Trading CEO Kevin Callahan. "DirectAX extends our
network to the corporate community, allowing companies to efficiently raise
capital from leading institutional investors and allowing PE/VC firms to
monetize their public holdings."
"In today's increasingly complex and illiquid marketplace, companies and
sponsors are looking for simple solutions that allow them to efficiently raise
capital for their firms or their limited partners," said Jon Merriman, CEO of
Merriman Capital. "We look forward to leveraging this new liquidity solution for
our clients."
About Merriman Capital
Merriman Capital, Inc. is an advisory-focused registered investment bank that
provides equity and options execution services, market making, and
differentiated research for high growth companies. The firm also offers capital
raising, advisory, and M&A services. Merriman Capital, Inc. is a wholly owned
subsidiary of Merriman Holdings, Inc. (OTCQX: MERR) and is the leading
investment banking firm for OTCQX companies. For more information, please go to
www.merrimanco.com/.
Merriman Capital, Inc. is a registered broker-dealer and member of The Financial
Industry Regulatory Authority (FINRA)
www.finra.org/ and the Securities
Investor Protection Corporation (SIPC)
www.sipc.org/.
About AX Trading LLC
The AX Trading Network ("The AX") is the new Electronic Trading Network
("ETN")
where institutional traders can connect and trade in a whole new way. The AX
addresses the long-standing "prisoner's dilemma" of stock trading which is
that
large buyers and sellers do not want to reveal their trading intentions to one
another. The AX uses an electronic, trader-initiated call auction to bring
buyers and sellers together in a completely protected environment. AX Trading,
LLC was founded in 2010 and is based in Stamford, CT. www.axtrading.com
Note to Investors
This press release contains certain forward-looking statements based on our
current expectations, forecasts and assumptions that involve risks and
uncertainties. This release does not constitute an offer to sell or a
solicitation of offers to buy any securities of the Company. Forward-looking
statements in this release are based on information available to us as of the
date hereof. Our actual results may differ materially from those stated or
implied in such forward-looking statements, due to risks and uncertainties
associated with our business, which include the risk factors disclosed in our
Form 10-K/A filed on April 30, 2012 and the Form 10-Q filed on November
14, 2012. Forward-looking statements include statements regarding our
expectations, beliefs, intentions or strategies regarding the future and can be
identified by forward-looking words such as "anticipate," "believe,"
"could,"
"estimate," "expect," "intend," "may,"
"should," and "would" or similar words.
We assume no obligation to update the information included in this press
release, whether as a result of new information, future events or otherwise. The
Form 10-K/A filed on April 30, 2012 and the Form 10-Q filed on November
14, 2012, together with this press release and the financial information
contained herein, are available on our website, www.merrimanco.com. Please click
on "Investor Relations."
# # #
At Merriman:
Ken Werner
Senior Managing Director, Head of Trading
Merriman Capital, Inc.
(415) 248-5610
Will Febbo
Chief Operating Officer
Merriman Capital, Inc.
(415) 248-5603
Howard Bernstein
Chief Compliance Officer
Merriman Capital, Inc
(415) 262-1377
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Merriman Holdings Inc. via Thomson Reuters ONE
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