FINANCING - Illustrative Accomplishments

Angel and Venture Capital Financing
Created the corporate and financial infrastructure of a start-up biotechnology company. Worked with the founder and chief scientist to create a business plan and model in order to raise capital and launch a business based on the founder’s proprietary knowledge and science. Result: Financial statements have been prepared. A private placement memorandum is drafted and $700,000 in convertible preferred equity with angels and venture capitalists is currently being placed. CNM

Private Equity Financing
Directed efforts to refocus the business of a very early stage online, science education company. This required a complete rewrite of the business plan and creation of new financial projections. Worked with the accountants and legal team to revalue the company and begin a new and larger round ($1million to $2million) of private equity financing. Result: Positioned the company for a greater potential for success and presenting financing package to potential investors. CNM

Public Debt Finance Transactions
As CFO for Citibank, MD and the CHOICE business, acted as the lead business contact for the securitization of almost two-thirds of the receivables in December 1992. Worked closely with the investor community, the rating agencies, and Citibank’s sales staff to educate them about the CHOICE portfolio and business. Result: The two-tranche deal included $1 billion of two year and $1 billion of five-year floating rate notes with an A-B subordinate structure. At the time it was the largest, non-sovereign, floating rate debt deal ever done. CNM

Private Equity Financing
As acting CFO for an established online, pre-publishing company servicing the scientific and medical society and pharmaceutical markets, provided the financial leadership and infrastructure for the company and assisted in the completion of a Private Placement Memorandum to raise capital. Result: $5 million Private Placement Memorandum is complete and is being marketed. CNM

Public Debt Finance Transactions
For a $17 billion mid-Atlantic, super-regional bank, assisted in the issuance of a $200 million corporate debt issuance. The deal began as a 30-year bond issue and by the time it was issued in the market, it had become a five year note. The interest rate risk was hedged from the planning stages of the issuance that required a number of basis changes as the maturity of the issue changed from thirty year to ten year to five year. Result: Over the course of the hedging period, saved close to 50 basis points on the yield. CNM

Public Debt Finance Transactions
For a $17 billion mid-Atlantic, super-regional bank, managed the hedge program of several billions of dollars of credit card securitizations over the period of several years. Result: Reduced the issuance cost and managed the overall interest rate exposure of the portfolio through the use of interest rate swaps and caps. CNM

Venture Capital and Vendor Finance
For a $15 million horizontally-integrated telecom services provider located in the upper South, facilitated and assisted with the development of a comprehensive five year business plan incorporating new wireless telecom service offerings, and created a financing plan and execution strategy. Result: Raised $1.5 million of investment capital from a Small Business Investment Company and concurrent lease capital financing for the acquisition of wireless infrastructure equipment. WLM

Equipment Financing
For a $20 million rural telephone cooperative located in the southwest, assisted management and the outside CPA firm with the development of a comprehensive business plan for the initiation of a new wireless telecom subsidiary. Result: Successfully acquired $1.0 million of equipment financing from a cooperative utility sector-focused provider for the new wireless infrastructure equipment. WLM

Venture Capital
For a start-up stage computer-related technology firm in central Florida, as interim CFO facilitated and assisted with creation of a comprehensive five year business plan and financing strategy focused on institutional venture investment sources. Concurrently participated in numerous presentations CNMto high net worth individual investor candidates. Result: Raised modest amounts of capital from individual investors, and received reasonable interest from several institutions which continue to consider the situation. WLM

Venture Capital
For an early stage B to B Internet firm located in northern Florida providing information processing solutions to the financial severices industry, joined the Board of Directors and facilitated and assisted with development of a comprehensive five year business plan and related financing strategy. Result: Managed fund raising effort with institutional venture sources in concert with the CEO, which resulted in identification of and introduction to a strategic investor/joint venture partner who provided $1.0 million of investment capital to a reorganized, merged enterprise. WLM

Venture Capital
For the management team of a Canada located wireless telecom technology business unit spin-off of a Fortune 100 company, assisted in reorganization of the existing business plan and development of a “road show” executive presentation in concert with a financing strategy developed around institutional venture capital providers in the U.S. Result: Assisted with numerous presentations to venture capital professionals around the Country, eventually achieving successful financial support for the spin-off. WLM

Vendor Finance
For a spun-off wireless telecom technology subsidiary located in the northeast of a Fortune 100 company, participated with the management organization as V.P. Financial Services to develop a third party vendor finance capability for the company. Result: Successfully identified and recruited an organization of third party equipment finance and lease capital providers willing to support the customers’ equipment acquisition financing requirements. WLM

Private Equity
For a US$20 million vertically integrated apparel manufacturer located in Tianjin, PRC, managed, facilitated and created a comprehensive five year business plan for both a substantial increase in manufacturing capability and expansion of the company’s retail presence from 3 to 26 of China’s Provinces. Much of the organizational effort was completed with the assistance of interpreters. Result: Successfully maintained the company’s rapid growth rate on a controlled and managed basis, and concurrently successfully introduced the company to the world private equity markets, especially in the Asian sphere. Numerous interested investors have been identified and introduced. A financial partner offering terms and structure acceptable to the company and the Chinese regulatory environment remains pending. WLM

Joint Venture
For a start-up stage transportation vehicle company located in south Florida, facilitated, managed and prepared a comprehensive five year business plan for a unique, new form of gasoline powered vehicular transportation. As CFO, assisted in meetings and negotiations with a Madras, India-based manufacturing firm for an export only contract manufacturing facility, and negotiated with Indian government financing sources relative to its support. Result: Successfully completed a manufacturing arrangement for production of the vehicles in India, and a system for their export and sale in certain third world countries. WLM

Venture Capital, Various
As a venture capital professional with four separate institutional venture investment groups from 1972 through 1997, reviewed in excess of 10 thousand business plans, conducted detailed due diligence on at least 10% of the underlying business situations and investment opportunities, and as principal, invested in approximately 75 individual situations. Result: Through provision of investment capital to deserving situations and often in syndicate, numerous emerging companies achieved successful implementation of their business plans, in the process creating value for their investors. In a number of cases, substantial returns on investment were generated for investors. Countless co-investor relationships were created and remain available as a valuable resource. WLM