In addition, to common equity raises, the Firm advises on and prepares extraordinary types of  equity transactions, including Trust Preferred Stock and Asset Backed Securities. Trust Preferred Stock is a preferred stock issued by a special purpose trust subsidiary backed by subordinated debt of the corporate parent. Asset Backed Securities are securities collateralized by specific types of assets, such as credit card loans. EMTH has, over the years, worked with Wall Street to bring these issues to market as another financing tool for our clients. In addition to public equity offerings, EMTH structures and closes major debt financing transactions for its clients under Rule 144A with Qualified Institutional Buyers for fast entry into the debt markets. EMTH works with its clients in any market environment to structure, negotiate, draft, file and close unique forms of financing tools. EMTH was one of the first law firms in the late 1980’s to utilize subscription rights offerings to recapitalize a number of our financial institution clients when no other strategy appeared viable. These recapitalizations meant the difference between survival and an FDIC takeover for some entities.