Capital Enhancement for Small and Mid-Cap Companies:The Board's Role
Fort Worth, TX
If you are a privately held company or even a public company with a relatively small market capitalization, the new economic landscape makes fund raising a creative endeavor. You need capital to grow and capital is hard to come by. New opportunities exist, but the benefits and risks are unclear. You have to be flexible in seeking various financing sources, while at the same time remaining vigilant and cautious in the process. The Board has an integral role in this process and has unique duties and responsibilities. In this type of capital raising, good corporate governance must be viewed through a special lens.
Key issues to be discussed:
- What types of financing are available?
- How does a company evaluate each opportunity?
- What obstacles do these companies face in raising capital?
- What background and experience do your Directors need when the company is trying to grow?
- What does a Director “need to know” and “need to do” to adequately fulfill the obligation and duties owed?
- How should the Board lead in the process?
- What oversight must the Board institute?
- How does a Director evaluate the risks versus the rewards of alternatives?
- How does the Board interface with Management in the financing area?
Our panelists will provide unique insight and detail their experience in addressing these and other issues.
Scott Kleberg, Moderator
Managing Member, CA Partners, LLC
J. Bryan King
Principal, Vice President Portfolio Manager/Analyst
Luther King Capital Management
C. Jackson Pfeffer
Director at Air Tractor, Cactus Feeders, Hossley Lighting Associates, Halloman, Vermeer
Managing Partner and Co-Founder
Location and Time
City Club Fort Worth
301 Commerce St
Fort Worth, TX 76102
11:30 AM - 1:30 PM
Sunny VanderbeckSunny Vanderbeck is managing partner and co-founder of Satori Capital, a multi-strategy private investment firm founded upon the principles of conscious capitalism. Sunny has a track record of high achievement in all of his endeavors, including as an entrepreneur, CEO, investor, board member, and military leader. Prior to co-founding Satori Capital, Sunny co-founded and served as Chief Executive Officer of Data Return, a leading provider of managed services and utility computing. As CEO for eleven years, Sunny led the company through all phases of growth and transformation. The company sustained 40% quarter-over-quarter growth and reached $50 million in revenue after only three years. With such rapid growth, an impressive customer base, and an innovative and capital-efficient business model, the company attracted strategic investments from Compaq, Level 3, and Microsoft. After a successful IPO, the company achieved a market capitalization in excess of $3 billion, and Sunny was one of the youngest CEOs ever to lead a NASDAQ company. In recognition of Data Return’s industry leadership, Microsoft named Data Return Global Hosting Partner of the Year, while Sunny received numerous individual honors including being named “Top 25 Technology Executives” and Entrepreneur of the Year finalist by Ernst and Young. In addition, Sunny is a sought-after speaker at financial and sustainability conferences. Prior to co-founding Data Return, Sunny served as a Team Leader at Microsoft, where he focused on supporting Microsoft’s largest clients and partners. Through his experience at Microsoft, Sunny identified a compelling market opportunity that served as the springboard for the launch of Data Return. Prior to joining Microsoft, Sunny served as a Section Leader of the 2nd Ranger Battalion (U.S. Special Operations Command). Through this experience, Sunny learned how to succeed under challenging circumstances while leading others to new levels of performance. Sunny is a member of Young Presidents’ Organization (YPO) where he served as the North American Co-Chair of the organization’s Corporate Social Responsibility Network. In this role, his charter was to develop awareness and support for more sustainable business models among YPO companies. Sunny currently serves alongside Randy Eisenman, also of Satori Capital, as co-chair of the YPO Entrepreneurship and Innovation Network, launched in 2014, to help members accelerate the growth of their businesses.
Bryan KingBryan King is a principal of LKCM and has acted as an investment manager responsible for micro and small-capitalization public and private investments since 1993. In 2000, Mr. King founded and became the managing partner of LKCM Capital Group, the entity responsible for launching and overseeing the alternative investment strategies offered by LKCM. In 2006, he founded and continues to manage LKCM Private Discipline Partnership, a multi-strategy partnership that continues to largely focus on making strategic and collaborative investments in microcap and private companies. In 2011, Mr. King founded LKCM Headwater, a middle market buy-out firm he manages that focuses on control private equity investment activities. Currently, Mr. King and his colleagues, with LKCM PDP, have seeded LKCM Capital Partners, a partnership focused on non-control, structured investments in private companies where they are senior in the capital structure to the controlling equity. Mr. King established in 2003 an LKCM Distribution Holdings oversight advisory board of operating partners and thought leaders to support LKCM Capital Group and its affiliates investment activities in the distribution, packaging, parts and services, and rental focused businesses. Relevant Solutions, Industrial Distribution Group (IDG), Rawson, Golden State Medical Supply are among the businesses where Mr. King has served as chairman of the board of directors and the managing partner while leveraging many of the same advisors. He also has served in various capacities on and alongside of numerous other boards of both public and private companies as well as civic organizations. Mr. King graduated with a Bachelor of Arts in History from Princeton University, received a Ranch Management degree from Texas Christian University, and received a Masters of Business Administration from Harvard Business School.
Jack PfefferJack Pfeffer has a long and varied operations background in both large and small entrepreneurial companies. He has worked very closely with a number of Texas companies that have chosen employee ownership (ESOP’s) as part of their growth and expansion path. Jack served as Vice President, Business Development and as a Corporate Officer for L. M. Ericsson N.A. during that company’s entry into the North American wireless and telecommunications switching markets. He led the leveraged buyout of the Anaconda-Ericsson Inside Wire Division in Texarkana, Arkansas, and became CEO of that new corporation. Prior to Ericsson, Pfeffer served in various capacities including strategic planning, program management, and new venture operations at Xerox Corporation. While with Xerox, Jack served a year on loan to the White House as Deputy Director International Affairs for NASA. Jack began his business career with McDonnell Douglas as part of the production planning and contracts group responsible for the Gemini space missions, the F-4 Phantom SE Asia modifications program, and the F-15 Eagle aircraft contract. Mr. Pfeffer received his Bachelor in Business Administration from Southern Illinois University Edwardsville and his MBA from the Rochester Institute of Technology. He is an active member of the Dallas and Forth Worth National Association of Corporate Directors, the Institute for Excellence in Corporate Governance, the ESOP Association, and the National Center for Employee Ownership.