WEEKLY MARKET OVERVIEW

Total debt and equity financings in the United States decreased this reporting period by 55% to $917 million, compared to last week's $2.020 billion. Below you will find a break down for this reporting period of significant financings in the United States, Canada, and internationally:

EQUITY INVESTMENTS

Total equity capital raised by U.S. companies this week was $482 million. Below are straightforward graphs so that you can quickly see how the equity investments were distributed by Geography, Industry and Stage of Development:

GEOGRAPHY

California based companies raised 49% of the total $482 million in equity raised in the United States this past week. Ligand Pharmaceuticals is a San Diego based NASDAQ company traded under ticker symbol LGND. The company discovers, develops and markets new drugs that address critical unmet medical needs of patients in the areas of cancer, skin diseases, men's and women's hormone-related diseases, osteoporosis, metabolic disorders, and cardiovascular and inflammatory diseases. The company completed a private placement of 3.48 million shares of its common stock to selected institutional and accredited investors, including current shareholders, with gross proceeds of approximately $47 million.

Note: States that received equity funding less than $19 million was included with the OTHER category.

INDUSTRY

Software companies received 36% of the total $482 million in equity raised in the United States this period. TrenStar a Englewood, CO based later stage privately held company. TrenStar offers mobile asset management solutions to companies invested in high-value containers that carry raw materials, work-in-progress and finished goods through the supply chain. The company has raised $34 million in a first institutional round of financing, with funding coming from Carlyle Venture Partners and Trencor Limited.

Note: Industries that received equity funding of $10 million or less were included with the OTHER category.

STAGE OF DEVELOPMENT

Early stage privately held companies raised 37% of the equity this period. TrenStar was founded in 2000 and raised $34 million in a first institutional round of financing, with funding coming from Carlyle Venture Partners and Trencor Limited.

VENTURE CAPITAL

Venture capitalists in the United States invested 19% fewer dollars this past week compared to the week before and funded 28 Companies for a total of $280 million. The average venture capital deal size this week was approximately $10 million. Below you will find the Year to Date Venture Capital investment activity in the United States:

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