NEW YORK – July 13, 2021 – ICR, a leading strategic communications and advisory firm, announced today that its broker-dealer affiliate, ICR Capital, has hired Syed Raj Imteaz as Managing Director and Head of Convertible and Equity Derivatives Advisory. Mr. Imteaz will focus on capital markets advisory efforts related to convertible securities and equity derivatives and will report to Lee Stettner and Steve Parish, Co-Heads of ICR Capital.
ICR Capital provides corporate management teams and financial sponsors with the independent objective advice and expertise they need to execute a wide range of financial transactions, including IPOs, follow-on offerings, block trades and alternative capital raising transactions. The addition of Mr. Imteaz further strengthens the ICR Capital franchise, particularly as it relates to its convertible and equity derivatives expertise.
“We are seeing a secular tailwind in the market where issuers from all sectors are starting to appreciate the value of convertible securities,” said Mr. Imteaz. “It’s an exciting time to join ICR and expand the convertible and equity derivatives effort here. Many of our clients can benefit from convertible financings, and our mission is to give them unbiased, holistic advice and help them execute best-in-class deals easily and efficiently.”
The convertible market has been extremely busy recently – last year, convertible issuance size in the U.S. was more than $110 billion, and this year, approximately $60 billion of convertibles have already come to the market. These issuance levels are up more than 100% vs. historical averages, and we expect issuance activity to continue to be high going forward.
“We are excited to welcome Raj to ICR Capital,” said Mr. Stettner and Mr. Parish. “With Raj joining the team, ICR Capital is uniquely positioned to offer our clients the full range of equity and equity linked advisory services.”
The resurgence of the convertible market has been driven by a number of factors. Convertibles were the best performing major asset class, by far, last year which has brought in additional investors to the market and driven up demand for securities. At the same time, last year’s accounting changes have made the treatment of convertibles simpler and easier for issuers. Companies can today issue convertibles at zero or near zero coupons off of attractive equity valuations, and with capped calls, there may be no dilution until stock goes up by 100% or more.
Mr. Imteaz has more than 15 years of capital markets experience, most recently as Head of Technology Origination at Matthews South. Prior to that, he was a Managing Director at Barclays, leading the investment bank’s advisory and execution efforts of convertible securities, call spreads/capped calls, equity derivatives, and share repurchases across Technology, Cleantech, Natural Resources, and Real Estate Sectors. Mr. Imteaz received a bachelor’s degree from the University of Texas at Austin.
Established in 1998, ICR partners with its clients to execute strategic communications and advisory programs that achieve business goals, build awareness and credibility, and enhance long-term enterprise value. The firm’s highly-differentiated service model, which pairs capital markets veterans with senior communications professionals, brings deep sector knowledge and relationships to more than 750 clients in approximately 20 industries. ICR’s healthcare practice operates under the Westwicke brand (www.westwicke.com). Today, ICR is one of the largest and most experienced independent communications and advisory firms in North America, maintaining offices in New York, Norwalk, Boston, Baltimore, San Francisco and Beijing. Learn more at www.icrinc.com. Follow us on Twitter at @ICRPR.
About ICR Capital
ICR Capital, member FINRA/SIPC, a registered broker-dealer affiliate of ICR, provides transaction advisory services related to IPO execution as well as follow-on and convertible notes offerings, equity and debt capital raises and block trades. The firm provides independent advice on all aspects of the transaction process to help clients make better informed decisions. ICR Capital’s advisory expertise in combination with ICR’s industry leading communications capabilities helps clients achieve their transaction objectives, while establishing a foundation to maximize long-term equity value. Learn more at www. icrcapital.com.
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