Hoth Therapeutics Announces Pricing of Public Offering

Wealth manager Ken Mathieson is the managing director of Laidlaw Asset Management, LLC in New York. With over 30 years of experience in the financial services industry, Ken Mathieson oversees Laidlaw’s wealth management and investment banking operations. He was recently involved in Laidlaw’s book-running management of Hoth Therapeutics’ public offering.

Hoth Therapeutics, a clinical-stage biopharmaceutical, is working on new therapies to help people with dermatological disorders. The company has several therapies in its pipeline that could improve the lives of people with atopic dermatitis, psoriasis, chronic wounds, and acne.

On March 2020, Hoth announced the pricing of its public offer of 1,449,275 shares of common stock for $3.45 a share. The company expected to raise $5 million from the public offering. The balance, after deducting underwriting discount and offering expenses, would be used to develop therapies against the Corona virus and to support internal operations like administration and marketing.

Hoth had previously filed a shelf registration statement on Form S-3 with the SEC which was declared effective on March 11. It followed up by filing preliminary and accompanying prospectuses with the federal agency on March 23. Both are available on the SEC’s website.

Besides Laidlaw, other companies involved in the public offering are The Benchmark Company LLC, the qualified independent underwriter, and Roth Capital Partners, Hoth’s financial advisor.

Choosing Between a Private Foundation and Donor Advised Fund

Ken Mathieson is a respected presence in the New York financial services sphere who currently holds responsibilities as founding partner of Laidlaw Asset Management, LLC. Working with family, corporate, and institutional investors, Ken Mathieson has extensive knowledge of multi-generational strategies that preserve and sustain wealth.

For those looking to leave behind a lasting legacy, two central strategies are a donor advised fund (DAFs) or a private foundation. Providing a sense of prestige and purpose, foundations provide donors with complete control over which qualified charities are given grants. They also offer control over board member and trustee succession over the lifetime of the organization. 

By their nature, foundations are complex with extensive paperwork, as well as the involvement of upfront and annual maintenance fees. In addition, they must annually pay between one to two percent of net investment income to satisfy the excise tax and distribute five percent of their total assets. 

In contrast, DAFs can be set up immediately with no upfront costs involved, and they offer superior tax benefits when it comes to deducting charitable donations. With no excise tax placed on investment gains, they also offer more privacy than foundations, as they can’t be looked up in public databases. 

An overarching advantage of both vehicles is that they enable control over tax deduction timing and when charities distribute funds. This can be strategic move during years of unusually high income.

Laidlaw Asset Management Welcomes Senior Advisors to NY Team

Wealth manager Ken Mathieson is the managing director of Laidlaw Asset Management, a registered investment advisor affiliated with Laidlaw & Co (UK) Ltd. Based in New York City, Ken Mathieson leverages his experience in wealth management and recruiting to spearhead the expansion of the company. 

Since the start of 2019, Laidlaw Asset Management has been growing its talent pool by recruiting top advisors with more than $560 million in assets under management. Here are some of the new hires:

– Patrick Ceccacci. Previously an assistant vice president at Merrill Lynch, Mr. Ceccacci helped a broad range of clients grow their finances. He joins Laidlaw Asset Management as a partner and investment advisor. 

– John Busco. Previously with Morgan Stanley, Mr. Busco built a successful practice around intergenerational wealth transfer and financial planning. He joins Laidlaw Asset Management as a partner and wealth manager. 

– Mark Cassidy. Previously with Merrill Lynch, Mr. Cassidy built his practice around goal-based financial planning. Constrained by the lack of diverse investment opportunities at his old firm, he joined Laidlaw Asset Management as a partner and wealth manager. He can now offer his clients a broader mix of local and international investment opportunities. 

– Mel Lewis. Previously an advisor at Morgan Stanley, Mr. Lewis joined Laidlaw Asset Management as a wealth management advisor.