A New York-based stock brokerage recently opened an investment- banking office in Golden that will raise capital for small public companies and assist private firms aiming to go public.
Aspenwood Capital will serve as the investment-banking division of New York-based Green Drake Corp., the company announced Tuesday.
The office is headed by three Colorado bankers: Steve Ossello, 41, of Wheat Ridge; H. Reed Madison, 45, of Denver; and Christopher Wrolstad, 42, of Golden.
The office opened late last week and is located at 2081 Youngfield St., Ossello said.
The three principals were most recently at Keating Investments, a Denver firm that specializes in private financing and reverse mergers. A reverse merger is the acquisition of a public company by a private firm.
The boutique bank will cater to a handful of industries, including health care, technology, biotechnology, consumer products and business services.
It plans to raise capital for its clients mostly through the sale of convertible securities, which are bonds or preferred stock that a holder can exchange for common stock. The bank also will make private investments in public equities, a financing structure known as PIPEs.
Aspenwood will tap for financing another Green Drake subsidiary, New York-based Restricted Stock Partners, a network of 200 institutional and high-net-worth investors with more than $75 billion in assets.
The bank will advise companies nationwide as well as assist international firms planning initial public offerings in the U.S.
The office will employ 10 people by year’s end, Ossello said.
Staff writer Will Shanley can be reached at 303-820-1260 or wshanley@denverpost.com.
