Available Percent Auctions - Week of 11/19/21
We are excited about this week's offering from Edge Capital. Check out our Dutch Auction page for a more thorough overview of the program and the process behind it.
The Unsecured Notes are intended to be offered and sold only to U.S. persons. The deal page is intended for distribution to, and for use by, persons in the U.S. only, and is not intended for distribution to or use by any person in any other jurisdiction.
Available Retail Auctions:
- EDG SMB Financing Sr. 2021-11 (10.50% - 11.50% APY)
Please note: The last day we will accept indications is Monday, November 22nd, at 9:00AM ET.
Here's How it Works
For each offering during the auction period (generally 2-4 days), investors can indicate what amount they would like to invest for each of the specified APYs.
Percent will aggregate these non-binding indications of interest for each APY to estimate how much demand exists at each APY interval for each offering.
At the end of the auction period, Percent will announce the offering as usual, except at the APY with expected sufficient demand to satisfy the target amount to be issued.
If the contemplated transaction is a rollover offering (following a maturity or a call), existing investors will have priority allocations.
If the transaction is not fully subscribed by existing investors or if the transaction is a new offering, only investors that participated during the auction period that provided indications at or below the announced APY will be notified of the offering launch and given priority allocations, as applicable.
Investors that do not provide an indication during the auction period will be able to participate and place an order during the deal syndication if the transaction was not fully subscribed by existing investors and/or investors who participated in the auction.
To keep it simple, let’s say 10 investors have answered the survey with the following indications:
In this example, for a minimum note size of $500,000 the note will require an expected 13.00% APY (and Investor 6’s indication would not be considered). If the minimum note size was $300,000, then the required APY for the note will be 12.00% (and Investor 6 and 10’s indications would not be considered). Alternatively, should the intended note size be $700,000, then the note will require an expected return of 14.00% APY (and all investors would be considered).
Please INDICATE YOUR INTEREST BELOW for:
EDG1 2021-11 is intended to roll from EDG1 2021-10, and because this is a rollover offering, investors in the current note will get first priority at the market-clearing APY determined by this auction.
Offering Size: $1.00M | Duration: 9 months
Rank: Senior | Minimum Investment: $500