1.1 million share offering announced at 8:10 AM and fully circled within 15 minutes. Prior to market opening at 9:30 AM, order book was significantly oversubscribed. Dillon generated significant demand to support the stock throughout a heavy trading day. Pioneer stock closed at $23.50, down only $0.25 (1.0%) on the day the company’s share base increased by over 10%. After we committed $22.7 million to fund Pioneer’s stock offering, our team of 32 institutional sales professionals generated orders for several million Pioneer shares in approximately one hour
About Pioneer Companies, Inc
Pioneer manufactures chlorine, caustic soda, bleach, hydrochloric acid and related products used in a variety of applications, including water treatment, plastics, pulp and paper, detergents, agricultural chemicals, pharmaceuticals and medical disinfectants.Pioneer owns and operates four chlor-alkali plants and several downstream manufacturing facilities throughout North America
About M.M. Dillon & Co.
M.M. Dillon & Co. (formerly CRT Investment Banking LLC) is an employee owned partnership where industry and product specialists collaborate closely to provide creative, idea-driven advice and solutions to its institutional and corporate clients. M.M. Dillon offers public and private financing, M&A advisory and restructuring advisory services. M.M. Dillon’s team of experienced professionals provides execution capabilities for companies across a range of industry sectors. The firm’s senior banking professionals have a minimum of 20 years of experience with major Wall Street firms.