Equity Commitments & PIPEs
Committed capital facilities — including PIPEs and structured equity lines — that give issuers reliable access to capital on agreed terms, sourced from long-term capital partners.
The Structure, Explained
Equity commitment facilities provide issuers with committed capital on pre-agreed terms. Rather than raising equity opportunistically, an issuer secures a committed facility from a capital partner and draws against it when the timing and price are right.
Two common forms are PIPEs (Private Investment in Public Equity) — a negotiated private placement of equity with a committed investor — and structured equity lines, under which an issuer can sell shares into the market over time to a committed buyer under agreed pricing mechanics.
We originate these facilities by connecting issuers with committed capital partners, structuring the pricing and draw mechanics, and coordinating documentation across the issuer’s and investors’ jurisdictions.
Committed, Not Best-Efforts
A committed facility gives the issuer certainty of capital — the partner is contractually bound to fund draws under agreed terms, removing market-timing risk from a capital raise.
Pre-Agreed Mechanics
Draw pricing — fixed price, discount to market, or volume-weighted formulas — is negotiated up front, so the issuer knows the cost of capital before drawing.
Draw When Needed
Structured equity lines let an issuer draw capital incrementally over time, matching funding to need and market conditions rather than raising in a single, concentrated placement.
Faster Than a Public Raise
A PIPE can be executed more quickly than a public follow-on, making it well suited to issuers needing capital on a compressed timeline.
Long-Term Partners
We connect issuers with capital partners seeking ongoing, relationship-based allocation — not one-off transactional investors — supporting repeat access over time.
Cross-Jurisdiction Documentation
Where the issuer and investors sit in different jurisdictions, we coordinate the placement documentation, disclosure, and settlement across both.
Coordinated Across Jurisdictions
- 01PIPE and structured equity line transactions carry specific disclosure and regulatory requirements in the issuer’s listing jurisdiction; we coordinate these with issuer counsel before launch.
- 02Pricing, draw windows, and any volume caps are negotiated to balance issuer dilution against investor return, reflecting the issuer’s share liquidity and volatility profile.
- 03For cross-border placements, the placement documentation, investor eligibility, and settlement mechanics must align across the issuer’s and investors’ jurisdictions.
- 04Issuers should obtain independent legal and financial advice on the structure’s dilution impact, accounting treatment, and disclosure obligations.
Share-Backed Financing
Liquidity against listed equity without a forced sale, retaining ownership and upside.
ExploreVPFS Transactions
Monetise a concentrated share position with downside protection through a variable prepaid forward.
ExploreRepurchase Agreements
Short-term, collateralised funding against eligible securities across currencies.
ExploreDiscuss This Structure
If this instrument fits your opportunity, share it with us. Our teams will coordinate the structure across the relevant jurisdictions.
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