William Blair News

MyCase Has Been Acquired by AffiniPay

William Blair acted as the exclusive financial advisor to MyCase, a portfolio company of Apax Partners, in connection with its acquisition by AffiniPay, a portfolio company of TA Associates and the parent company of LawPay.

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William Blair Hosts 42nd Annual Growth Stock Conference

William Blair & Company, the premier global boutique with expertise in investment banking, investment management, and private wealth management, today commenced its 42nd Annual Growth Stock Conference, a four-day event featuring more than 320 public and private companies.

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Economics Weekly: Profits, P/Es, and Inflation

With weaker earnings growth the next potential hurdle for market participants, in this Economics Weekly, we look at both the current earnings picture and what has happened to earnings during past economic downturns, as well as what happens if inflation truly is now structurally higher.

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Quentic Has Agreed to be Acquired by AMCS

William Blair acted as the exclusive financial advisor to Quentic, a portfolio company of One Peak, Morgan Stanley Expansion Capital, and High-Tech Gründerfonds, in connection with its pending sale to AMCS, a portfolio company of Insight, Clearlake, Highland Europe and Ireland Strategic Investment Fund.

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42nd Annual Growth Stock Conference

William Blair & Company, the premier global boutique with expertise in investment banking, investment management, and private wealth management, will host its 42nd Annual Growth Stock Conference June 6-9 in Chicago.

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Results Driven by Trust and Collaboration

William Blair’s strong results in recent years have been directly tied to our people and our unique culture. That culture is built on trust, collaboration, and creating opportunities for our clients and each other.

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DadeSystems Has Been Acquired by Versapay

William Blair acted as the exclusive financial advisor to DadeSystems, a portfolio company of Ten Coves Capital, Wells Fargo Strategic Capital, Fifth Third Capital Partners and Ocean Azul Partners, in connection with its sale to Versapay, a portfolio company of Great Hill Partners.

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Sierra Wireless, Inc.: Initiation of Research Coverage

William Blair initiated research coverage of Sierra Wireless, Inc. (SWIR $16.45), a preferred IoT solutions provider that combines edge devices (e.g., cellular routers/gateways and modules), connectivity services, software, security, and a secure cloud platform to simplify IoT deployments.

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Datwyler Has Agreed to Acquire QSR

William Blair acted as the exclusive financial advisor to Datwyler Holding AG (SWX:DAE) in connection with its pending acquisition of QSR from Q Holding Company, a portfolio company of 3i Group plc.

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Eagle Pharmaceuticals Has Agreed to Acquire Acacia Pharma

William Blair acted as the exclusive financial advisor to Eagle Pharmaceuticals, Inc. (Nasdaq: EGRX) in connection with its pending acquisition of Acacia Pharma Group plc (EURONEXT: ACPH) by way of a scheme of arrangement for €94.7 million ($104 million) in cash and Eagle Pharmaceuticals stock.

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EMPWR Has Acquired Noble Foods

William Blair acted as the exclusive financial advisor to EMPWR, a portfolio company of Waterland Private Equity, in connection with its acquisition of Noble Foods Nutrition, Inc (Noble Foods).

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Economics Weekly: The Food Problem

In this Economics Weekly, we look at the food issue, who is the most vulnerable to the effects of the current conflict, and what impact this might have on inflation in the United States.

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BRC Inc.: Initiation of Research Coverage

William Blair initiated research coverage of BRC Inc. (BRCC $17.43), the parent company of Black Rifle Coffee Company, a rapidly growing omnichannel premium coffee brand across the direct-to-consumer (DTC), wholesale, and retail channels.

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Arcellx, Inc.: Initiation of Research Coverage

William Blair initiated research coverage of Arcellx, Inc. (ACLX $16.97), a clinical-stage company focused on the development and commercialization of first-in-class adaptive immune cell therapies that can be readily activated and reprogrammed.

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Economics Weekly: The M&A Landscape in 2022

Both the structural and near-term cyclical trends in M&A are the topic of this Economics Weekly, with the view that activity is likely to remain robust, though we will not see a repeat of 2021’s level of activity, and risks are tilted to the downside.

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William Blair Announces Beth Satterfield as COO

William Blair, the premier global boutique with expertise in investment banking, investment management, and private wealth management, today announced the expansion of its executive leadership team and named Beth Satterfield to the newly created position of chief operating officer.

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2022 Top Stock Recommendations

Each year, the Equity Research Group's individual sector groups—consumer; financial services and technology; global industrial infrastructure; global services; healthcare; and technology, media, and communications—provide an outlook for the year ahead.

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Lightspeed Systems Has Acquired CatchOn

William Blair acted as the exclusive financial advisor to Lightspeed Systems, a portfolio company of Madison Dearborn Partners, in connection with its acquisition of CatchOn, an affiliate of ENA.

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Pharm-Olam Has Merged with CATO SMS

William Blair acted as the exclusive financial advisor to Pharm-Olam in connection to its merger with CATO SMS, a portfolio company of Water Street Healthcare Partners and JLL Partners.

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Samsara Inc.: Initiation of Research Coverage

William Blair initiated research coverage of Samsara Inc. (IOT $22.99). Samsara helps companies digitize their physical operations through its connected operations cloud, which ingests internet of things (IoT) data and provides actionable insights.

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Bionomics Limited: Initiation of Research Coverage

William Blair initiated research coverage of Bionomics Limited (BNOX $11.52), a clinical-stage biopharma company based in Australia with U.S. operations developing small-molecule ion channel modulators to treat central nervous system disorders.

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Nkarta, Inc.: Initiation of Research Coverage

William Blair initiated research coverage of Nkarta, Inc. (NKTX $14.27), a clinical-stage company focused on the development and commercialization of genetically engineered allogeneic chimeric antigen receptor (CAR) natural killer (NK) cell therapies for the treatment of cancer.

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Cardiff Oncology, Inc.: Initiation of Research Coverage

William Blair initiated research coverage of Cardiff Oncology, Inc. (CRDF $6.43), a clinical-stage biotechnology company that leverages deep insights into synthetic lethality through PLK1 inhibition in cancers. The company is advancing three clinical programs in parallel in colorectal, prostate, and pancreatic cancer.

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P3 Health Partners Inc.: Initiation of Research Coverage

William Blair initiated research coverage of P3 Health Partners Inc. (PIII $6.49), a physician-led and technology-enabled advanced primary care partner, working with independent provider groups to enable their transformation to risk-based payment models.

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William Blair Acted as Lead Advisor to Convergint Technologies

William Blair acted as lead financial advisor to Convergint Technologies, a portfolio company of Ares Management Corporation (NYSE: ARES), in connection with its equity sale from a fund managed by Ares’ Private Equity Group and other existing shareholders to Leonard Green & Partners, L.P. and funds managed by Harvest Partners, LP.

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Sweetgreen, Inc.: Initiation of Research Coverage

William Blair initiated research coverage of Sweetgreen, Inc. (SG $30.46). Sweetgreen is a rapidly growing category leader in healthy fast-casual restaurants, featuring a digitally led customer service model alongside a farm-to-table plant-forward menu.

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Braze, Inc.: Initiation of Research Coverage

William Blair initiated research coverage of Braze, Inc. (BRZE $66.95). Braze is a leading customer engagement platform that deploys a streaming data architecture to orchestrate, personalize, and deliver marketing campaigns to customers.

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Lindblad Expeditions Holdings, Inc.: Initiation of Research Coverage

William Blair initiated research coverage of Lindblad Expeditions Holdings, Inc. (LIND $16.11), which provides expedition cruising and adventure travel experiences. The company’s land- and sea-based itineraries are crafted for travelers seeking premium, immersive, and up-close encounters with wildlife, nature, history, and culture.

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Weave Communications, Inc.: Initiation of Research Coverage

William Blair initiated research coverage of Weave Communications, Inc. (WEAV $16.68), which provides a unified communications and customer engagement platform augmented by industry-vertical-specific functionality designed for small and midsize businesses, or SMBs.

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NerdWallet, Inc.: Initiation of Research Coverage

William Blair initiated research coverage of NerdWallet, Inc. (NRDS $22.59), a personal finance company with a presence in the United States and internationally. NerdWallet offers users personalized insights on a variety of finance-related topics, such as loans, credit cards, refinancing, and more.

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Portillo’s Inc.: Initiation of Research Coverage

William Blair initiated research coverage of Portillo’s Inc. (PTLO $44.83), a growing chain of high-volume, limited-service restaurants serving a menu centered on Chicago favorites such as Italian beef and Chicago-style hot dogs and sausages.

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Empire Today Has Been Acquired by Charlesbank Capital Partners

William Blair acted as the financial advisor to Empire Today, a portfolio company of H.I.G. Capital (H.I.G.), in connection with its pending sale to Charlesbank Capital Partners. Management and an affiliate of H.I.G. are also making significant new investments into the business.

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KKR Has Agreed to Acquire Bettcher Industries

William Blair acted as the exclusive financial advisor to KKR in connection with its pending acquisition of Bettcher Industries, a leading designer and manufacturer of cutting tools, processing systems, and aftermarket solutions for meat processing markets.

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Re-Bath Has Been Acquired by TZP Group

William Blair acted as the exclusive financial advisor to Home Brands Group Inc., the parent holding company of Re-Bath, a portfolio company of Webster Equity Partners and Sorenson Capital, in connection with its sale to TZP Group LLC.

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Gryphon Investors Has Agreed to Acquire Revision Goodier

William Blair acted as exclusive financial advisor to Gryphon Investors in connection with its pending acquisition of Revision Goodier, a clinically proven, highly efficacious skincare brand, and trusted development and manufacturing partner specializing in high-end cosmetic and topical skincare solutions.

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Popcornopolis Has Been Acquired by Grupo Bimbo

William Blair acted as financial advisor to Popcornopolis, LLC, a portfolio company of NexPhase Capital, LP, in connection with its sale to Grupo Bimbo, S.A.B. de C.V. Popcornopolis is a leading manufacturer of premium-quality, ready-to-eat popcorn.

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Science 37 Holdings, Inc.: Initiation of Research Coverage

William Blair initiated research coverage of Science 37 Holdings, Inc. (SNCE $9.01). Founded in 2014, Science 37 pioneered the concept of decentralized clinical trials (DCTs) and has developed a unique operating system that combines its technology platform and specialized provider network to accelerate trial execution.

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BitTitan Has Been Acquired by Idera

William Blair acted as the exclusive financial advisor to BitTitan Inc., a founder owned and led business, in connection with its acquisition by Idera, a portfolio company of TA Associates and Partners Group.

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uniQure N.V.: Initiation of Research Coverage

William Blair initiated research coverage of uniQure N.V. (QURE $29.36). Based in the Netherlands, uniQure N.V. is focused on developing and commercializing adeno-associated virus (AAV) gene therapies for the treatment of severe genetic disorders of the liver and CNS.

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Velo3D, Inc.: Initiation of Research Coverage

William Blair initiated research coverage of Velo3D, Inc. (VLD $8.55). Velo3D produces metal additive manufacturing systems that employ a proprietary printing process to provide engineers with unprecedented design freedom for metal parts.

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William Blair Advises Wayne Farms LLC

William Blair acted as the exclusive financial advisor to Wayne Farms, Continental Grain, and Cargill in connection with the sale of its poultry production facility located in Laurel, Mississippi.

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Economics Weekly: A Top-Down View of Profit Margins

In this Economics Weekly, we examine corporate profits from a top-down perspective, looking at the recent behavior of unit labor costs, price inflation, and output growth as guides to what might happen to margins in the coming quarters.

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Sovos Brands, Inc.: Initiation of Research Coverage

William Blair initiated research coverage of Sovos Brands, Inc. (SOVO $14.18). Sovos is a growing food company that innovates and markets disruptive and differentiated brands, including Rao’s, Noosa, Birch Benders, and Michael Angelo’s. It products are premium and convenient and sold in all major classes of retail trade.

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EngageSmart, Inc.: Initiation of Research Coverage

William Blair initiated research coverage of EngageSmart, Inc. (ESMT $32.07). EngageSmart provides modern customer engagement and integrated payment solutions for businesses in health and wellness, government/utility, financial services, and nonprofit.

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Brilliant Earth Group, Inc.: Initiation of Research Coverage

William Blair initiated research coverage of Brilliant Earth Group, Inc. (BRLT $12.95). Brilliant Earth is a fast-growing, omnichannel retailer of diamond rings and other fine jewelry offering personalized and in-house branded products, with a particular focus on sustainable and ethical sourcing.

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Hemovent Has Been Acquired by MicroPort for €123m

William Blair acted as financial advisor to Hemovent, a company backed by a consortium of institutional investors led by MIG Capital in connection with its sale to MicroPort (SEHK Ticker: 0853) for €123m in total consideration (including future milestone payments).

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ForgeRock Inc.: Initiation of Research Coverage

William Blair initiated research coverage of ForgeRock, Inc. (FORG $33.80), a leading provider of identity access management solutions that help enterprises manage, secure, govern, and streamline their identity infrastructure.

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Dutch Bros Inc.: Initiation of Research Coverage

William Blair initiated research coverage of Dutch Bros Inc. (BROS $25.95), a rapidly growing owner and franchisor of drive-thru locations offering a wide variety of customizable beverages, including espresso-based beverages and its proprietary Blue Rebel energy drinks.

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Alector, Inc.: Initiation of Research Coverage

William Blair initiated research coverage of Alector, Inc. (ALEC $24.26), a clinical-stage biopharma company developing therapies that target neuro-immunology using genetic insights in chronic neurodegenerative disorders.

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Economics Weekly: The Fed, the Dots, and the Taper

In this Economics Weekly, we discuss the market’s reaction to the Fed’s announcements this week, with the view that the market would be correct to focus more on the tapering announcement and pay less attention to the increasingly irrelevant dot plot.

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Courageous Conversations Spotlight Resiliency

Creating a resilient work culture means embracing curiosity, having a broad perspective, and valuing authenticity—initiatives often led by those who defy the status quo, Harvard Professor Francesca Gino said during William Blair’s recent Courageous Conversations event.

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Economics Weekly: Wish Upon a R(ising)-Star

In this Economics Weekly, we discuss this target real equilibrium rate of interest—R* (r-star)—with the view that there are a number of reasons to believe we are near an inflection point, one where this longer-term real neutral rate could be starting to increase.

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N-able, Inc.: Initiation of Research Coverage

William Blair initiated research coverage of N-able, Inc. (NABL $14.22). N-able sells remote monitoring and management (RMM), security and data protection, and business management solutions to managed service providers (MSPs) worldwide.

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Rover, Inc.: Initiation of Research Coverage

William Blair initiated research coverage of Rover, Inc. (ROVR $11.29), an online marketplace for people to request and receive a variety of pet care services, including pet sitting, dog boarding, and dog walking.

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MaxCyte, Inc.: Initiation of Research Coverage

William Blair initiated research coverage of MaxCyte, Inc. (MXCT $14.34), a market-leading provider of enabling technologies for cell engineering. The company’s ExPERT platform is used to advance the discovery, development, and commercialization of next-generation cell therapies.

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MMIT Has Agreed to Merge With Evaluate

William Blair acted as exclusive financial advisor to MMIT, a portfolio company of Welsh, Carson, Anderson & Stowe (WCAS), in connection with its pending merger with Evaluate, a portfolio company of Hg Capital.

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Riskified Ltd.: Initiation of Research Coverage

William Blair initiated research coverage of Riskified Ltd. (RSKD $27.12). Riskified’s fraud-management platform helps some of the world’s largest e-commerce merchants manage their chargebacks. Riskified delivers tangible ROI for merchants by reducing costs and customer friction in addition to improving sales.

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Icosavax, Inc.: Initiation of Research Coverage

William Blair initiated research coverage of Icosavax, Inc. (ICVX $34.09). Icosavax is a clinical-stage biotechnology company that uses its proprietary in silico designed virus-like particle (VLP) platform to develop vaccines for viral respiratory pathogens such as RSV and hMPV. In addition, Icosavax is exploring both booster and Beta-specific COVID-19 vaccine candidates.

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Duolingo, Inc.: Initiation of Research Coverage

William Blair initiated research coverage of Duolingo, Inc. (DUOL $126.16), a subscription language-learning mobile app and website that uses a freemium model. The company also offers an online English proficiency exam and hosts advertisements on its free app and website to monetize the service in addition to the subscription offering.

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Worldwide Express and GlobalTranz have Merged

William Blair acted as a financial advisor to the consortium of CVC Capital Partners (CVC), Providence Equity (Providence), and PSG, in connection with the merger of Worldwide Express, a portfolio company of Ridgemont Equity Partners, and GlobalTranz, a portfolio company of Providence and PSG.

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Holley Inc.: Initiation of Research Coverage

William Blair initiated research coverage of Holley Inc. (HLLY $11.75). Holley is a designer, marketer, and manufacturer of high-performance automotive aftermarket products serving a diverse range of car and truck enthusiasts.

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Stevanato Group S.p.A.: Initiation of Research Coverage

William Blair initiated research coverage of Stevanato Group S.p.A. (STVN $20.62), a leading global provider of drug containment solutions, diagnostic consumables, and drug delivery systems to the pharmaceutical, biotechnology, and life sciences industries.

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Blend Labs, Inc.: Initiation of Research Coverage

William Blair initiated research coverage of Blend Labs, Inc. (BLND $18.45). Blend provides a cloud-based software platform designed to power end-to-end journeys for consumer banking products, including mortgages, consumer loans, and deposit accounts.

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Markforged Holding Corporation: Initiation of Research Coverage

William Blair initiated research coverage of Markforged Holding Corporation (MKFG $10.40), a developer and manufacturer of composite and metal 3D printers, as well as software and consumables. Markforged has established a large fleet of connected 3D printers, supported by proprietary software solutions.

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Sera Prognostics, Inc.: Initiation of Research Coverage

William Blair initiated research coverage of Sera Prognostics, Inc. (SERA $12.85), a women’s health diagnostics company that discovers, develops, and commercializes biomarker tests using a proprietary proteomics and bioinformatics platform. The company’s initial focus is on improving pregnancy outcomes, beginning with preterm birth (PTB).

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Semantix Has Been Acquired by TransPerfect

William Blair acted as the exclusive financial advisor to Semantix, a portfolio company of Segulah Private Equity, in connection with its sale to TransPerfect. The transaction closed on July 30th, 2021.

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Payoneer Global Inc.: Initiation of Research Coverage

William Blair initiated research coverage of Payoneer Global Inc. (PAYO $9.44). Payoneer provides a global, cloud-based payments and commerce-enablement platform to more than 5 million small businesses and many of the world’s largest digital marketplaces.

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William Blair Advises HungerRush

William Blair acted as exclusive financial advisor to HungerRush, LLC, a portfolio company of The CapStreet Group, to refinance its existing indebtedness and to support future growth.

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Xometry, Inc.: Initiation of Research Coverage

William Blair initiated research coverage of Xometry, Inc. (XMTR $75.29). Xometry is a leading marketplace for on-demand manufacturing, connecting customers with manufacturing partners that offer a wide range of services, including CNC machining, 3D printing, injection molding, and sheet metal fabrication.

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ServiceMax and Pathfinder Acquisition Corporation to Merge

William Blair acted as capital markets advisor to ServiceMax, a portfolio company of Silver Lake Partners (Silver Lake), in connection with its pending merger with Pathfinder Acquisition Corporation (NASDAQ: PFDR; Pathfinder), a special purpose acquisition company (SPAC).

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Torrid Holdings Inc.: Initiation of Research Coverage

William Blair initiated research coverage of Torrid Holdings Inc. (CURV $22.73). Torrid is a fast-growing, omnichannel retailer of apparel, intimates, and accessories dedicated to plus-size women, offering mostly exclusive brands and in-house designs with a particular focus on fit.

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CVRx, Inc.: Initiation of Research Coverage

William Blair initiated research coverage of CVRx, Inc. (CVRX $20.33). CVRx is a medical device company focused on the development and commercialization of minimally invasive neuromodulation therapies for heart failure and other cardiovascular diseases.

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Assurant, Inc.: Initiation of Research Coverage

William Blair initiated research coverage of Assurant, Inc. (AIZ $153.96). Assurant is a leading global provider of mobile device solutions, extended service contracts, vehicle protection services, renters insurance, lender-placed insurance products, and other specialty products.

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Economics Weekly: Another Look at the Alternative Economic Data

In this week’s Economics Weekly, we once again showcase a number of the alternative higher-frequency economic data that have emerged over the last year, in an effort to gauge where we are with regard to the reopening economy and to what degree the markets should be concerned about a moderation in the pace of the expansion due to the COVID variants.

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Alpha Teknova, Inc.: Initiation of Research Coverage

William Blair initiated research coverage of Alpha Teknova, Inc. (TKNO $18.06). Teknova sells critical reagents for discovery, research, development, and production of biopharmaceutical products, including drug therapies, novel vaccines, and molecular diagnostics.

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William Blair Announces New President

William Blair, a premier global investment banking, investment management and wealth management firm, today announced that, effective immediately, Brent Gledhill has been elevated to the role of President.

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