What is an Equity Capital Markets ECM Deals Committee Memo?
An Equity Capital Markets (ECM) Memo is generated internally at an investment bank to approve a potential transaction (IPO, follow-on offering, etc.). The ECM Memo is prepared by the investment banking team and sent to the ECM team.
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Equity Capital Markets – ECM Memo Example
Date: [insert date of memo]
To: [insert names of members of ECM Deals Committee]
Re: ECM Deals Committee Meeting – [insert name of issuer/details of offering] Meeting [insert date, time and location of meeting and conference call details] Details:
Situational Overview:
Why are we meeting?
What proposed resolutions do we want achieve?
Proposed Issue:
Is this a Prospectus Offering or a Private Placement?
Is this an IPO or a follow-on offering?
Is it a treasury offering or a secondary offering?
Size of issue and type of security (Long Form/Short Form eligible)
Geographic distribution objectives
Retail and Institutional distribution objectives
Syndicate structuring objectives
Use of Proceeds:
Rationale for the issue and how proceeds will be used.
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