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Banking, finance, and taxes

Galiot Capital Sets IPO Terms (GTC)

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By Douglas A. McIntyre Updated Published
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Galiot Capital Corporation has filed with the SEC for its 16,666,666 shares of common stock in an IPO at $15.00 per share.  The company will trade on the New York Stock Exchange under the symbol ‘‘GTC’’.

The underwriting group is rather large.  Deutsche Bank Securities, Credit Suisse, and Morgan Stanley are listed as the lead underwriters.  Co-managers are listed as Banc of America, Keefe Bruyette & Woods, and BNP Paribas.

Galiot is a Maryland corporation will qualify as a REIT and will invest in residential mortgage-backed securities, the principal and interest on which are guaranteed by a U.S. Government agency or a U.S. Government-sponsored entity.  The company is externally managed and advised by Fischer Francis Trees & Watts, Inc., an investment adviser registered with the Securities and Exchange Commission and a wholly-owned subsidiary of Charter Atlantic Corporation, an indirect wholly-owned subsidiary of BNP Paribas.

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Jon C. Ogg
June 19, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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