Cowen, Inc.

Cowen, Inc.

Cowen, Inc.

Overview
Date Founded

2009

Headquarters

599 LEXINGTON AVENUE 20TH FLOOR NEW YORK NY 10022

Type of Company

Public

Employees (Worldwide)

1,325

Industries

Investment Banking & Brokerage

Company Description

Cowen and Company offers comprehensive investment banking services, including equity and convertible debt financings, private placements of equity and debt, restricted security sales, mergers and acquisitions advisory services including strategic alliances and joint ventures. In addition, we offer our clients access to world-class research, as well as institutional sales and trading services. Drawing upon the depth of our research and industry knowledge, we specialize in the key areas of growth in our economy. Our industry sector expertise includes Health Care, Technology, Media & Telecommunications, Consumer, and Aerospace & Defense. In addition, we offer extensive and focused after market trading services as a leading market maker in our target sectors. While our principal product is knowledge, meeting the demands of our clients is our first order of business. We are convinced that the fundamental tenets that served us so well in the past century – uncompromising service, time-honored ethics, and a dedication to helping clients capitalize on change – will serve us well in this century.

Contact Data
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Executives & Employees

Chairman & Chief Executive Officer

Managing Partner of Cowen Healthcare Investments

Managing Director & Chief Financial Officer

Chief Operating Officer & Managing Director

Managing Director, General Counsel & Secretary

Managing Director & Chief Information Officer

Managing Director & Head of Marketing & Client Services

Managing Director & Head of Mid-Atlantic Equity Sales, Equity Sales & Trading

Managing Director & Head, Human Resources

Managing Director & Co-Head-Technology, Media & Telecom Banking Team

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Owners & Shareholders
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Philadelphia Financial Management of San Francisco (PFMSF) manages private investment funds that seek to maximize total returns by investing primarily in the financial service industry. The funds' assets predominantly (but not exclusively) are invested in U.S. and Canadian publicly-traded securities of finance companies including: banks, thrifts, brokers, asset managers, insurance, mortgage, specialty finance, REITs, homebuilders, financial technology, and other financial intermediaries. Although their focus is on the financial sector, PFMSF may invest a portion of the funds' assets in other sectors in which they have investment experience, such as the automotive sector. The firm may sell securities short, engage in some short-term trading, and may invest and trade in options, other derivatives and other instruments. They take long positions primarily in undervalued small- to medium-sized companies they believe offer attractive investment opportunities while shorting those with deteriorating fundamentals, questionable accounting practices, or flawed business models. The funds may use leverage and stock options in attempting to hedge positions and enhance returns. The funds may invest in any type of instrument, including private equity, distressed debt or securities of financial service companies. While the funds may invest throughout the world, typically less than 15% of a fund's assets is invested in investments other than U.S. securities, Canadian securities and securities traded on the London Stock Exchange or Euronext.

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Arbiter Partners invest with a long-term horizon, looking 1-3 years out for positions across likely economic, industry, and investment fashion cycles which aims to maximize long-term capital appreciation. They employ bottom-up criteria in considering the risk-return characteristics of specific instruments, although these may take place within a broader industry or cyclical thesis. Their primary funds are opportunistic and invest primarily in equities, fixed income, and derivatives using a variety of long/short strategies. Their investments are global in scope and across the range of instruments, including ETFs, closed end mutual funds, and the occasional private placement.

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Cowen Execution Services LLC provides brokerage services. The company was founded in 2002 and is headquartered in New York, NY.

Recent Transactions
Details Hidden

Monomoy Capital Partners purchases Shaw Development LLC

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Upland Software, Inc. purchases Char Software, Inc. from GreatPoint Ventures, Inc., Launchpad Venture Group LLC, New York Angels, Inc., DataPoint Ventures, TechStars Central LLC, ENIAC Ventures Management LLC/NY, Top Tier Capital Partners LLC, MI Ventures LLC, Laconia Ventures LLC, Progress Ventures, Inc.

Details Hidden

Trimble Navigation Limited purchases Kuebix LLC from Eastward Capital Partners LLC, Pillar Co Management LLC

Transaction Clients
Investment Advisor

Advised on Akerna Corp. purchases Ample Organics, Inc. from Green Acre Capital

Investment Advisor

Advised on Graham Partners, Inc., The Graham Group, Inc. (Pennsylvania) purchase Gatekeeper Systems, Inc. from Hammond, Kennedy, Whitney & Co., Inc.

Investment Advisor

Advised on Great Hill Partners LP purchases Zoom Information, Inc. from Venrock Associates, Flagship Pioneering, Vulcan Ventures, Inc., Commonwealth Capital Ventures, Ascent Venture Management Inc., Lead Dog Ventures LLC

Transaction Advisors
Legal Advisor

Advised onCowen, Inc. purchases LaBranche & Co. Inc.

Legal Advisor

Advised onCowen, Inc. purchases Belré SA from Vitrufin SA

Underwriter

Advised onCowen, Inc. issued USD Common Stock

Legal Advisor

Advised onCowen, Inc. purchases Quarton International AG

Legal Advisor

Advised onCowen, Inc. purchases Quarton International AG

Legal Advisor

Advised onCowen, Inc. purchases Conifer Securities LLC from The Conifer Group LLC

Advisors & Consultants
Advisor

Chairman & Chief Executive Officer, Cowen Group, Inc at Cowen and Company LLC

Legal Advisor

Chair, Emerging Companies Practice at Dorsey & Whitney LLP

Senior Advisor

Limited Partner at Lead Edge Capital Management LLC

Clients

Medicrea International SA engages in the design, development, manufacture and distribution of orthopedic implants dedicated to spinal surgery. The firm provides neurosurgeons and orthopedic surgeons specialized in the spine with new and less-invasive surgical solutions. It operates under the brand names PASSmed System, Osmosys, Impix and Neovix. The company was founded by Denys Sournac and Jean-Philippe Caffiero in 1993 and is headquartered in Rillieux-la-Pape, France.

Key Stats and Financials As of 2019
Market Capitalization
$429M
Total Enterprise Value
$1.96B
Earnings Per Share
$0.57
Revenue
$1.16B
Net Profit
$24.6M
Total Equity
$1.3B
Enterprise Value Sales
1.69x
TEVNet Income
79.77x
Debt TEV
1.11x
Total Debt
$2.19B
EBITDAMargin
6.18%
Enterprise Value EBITDAOperating
25.97x
EBITDA
$71.9M
Non-Profit Donations & Grants
$2,500 - $4,999
2019
$10K - $20K
2018
$1,000 - $50K
2018
Investments
Details Hidden

KemPharm, Inc. is a clinical-stage specialty pharmaceutical company, which engages in the discovery and development of proprietary prodrugs. It focuses in the treatment of serious medical conditions such as attention deficit hyperactivity disorder, pain, and other central nervous system disorders through its platform technology known as Ligand Activated Therapy. The company was founded by Christal M. M. Mickle and Travis C. Mickle on October 30, 2006 and is headquartered in Coralville, IA.

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Livongo Health, Inc. engages in the development and operation of consumer digital health platform. It offers Livongo for Diabetes, Livongo for Hypertension, Livongo for Prediabetes and Weight Management, and Livongo for Behavioral Health by myStrength. The company was founded by Kimon Angelides and Glen E. Tullman on October 16, 2008 and is headquartered in Mountain View, CA.

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G1 Therapeutics, Inc. engages in the development of small molecule therapeutics for the treatment of patients with cancer. Its products pipeline includes trilaciclib, rintodestrant, and lerociclib. The company was founded by Kwok-Kin Wong and Norman E. Sharpless on May 19, 2008 and is headquartered in Research Triangle Park, NC.

Investors
Details Hidden

Founding Partner at ATM USA LLC

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Managing Director at Cowen Healthcare Royalty Management LLC

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Former Vice Chairman & Chief Operating Officer at ConvergEx, Inc.

Suppliers
Agenus Inc. Pharmaceuticals | Lexington, MA

Agenus, Inc. is a clinical-stage immuno-oncology company, which engages in the development and commercialization of technologies to treat cancers and infectious diseases. Its product pipeline includes AGEN1884, AGEN2034, INCAGN1876, INCAGN1949, Prophage, AutoSynVax, PhosphoSynVax, and AS-21 Stimulon. The company was founded by Garo H. Armen and Pramod K. Srivastava in March 1994 and is headquartered in Lexington, MA.

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