Publications
Publications
- June 2010
- HBS Case Collection
Cypress Sharpridge: Raising Capital in a Time of Crisis
By: Lena G. Goldberg and Adam Benjamin Nebesar
Abstract
Cypress Sharpridge, a REIT investing in agency securities, launched its IPO just before the collapse of the subprime mortgage market. The IPO failed. In June 2009, an IPO window seemed to be opening. Should the company try again? CEO Kevin Grant knew that his company's survival depended on differentiating itself from discredited real estate investment strategies and raising permanent capital. But if its IPO failed again, the company might lose any remaining credibility and be forced to fold.
Keywords
Financial Crisis; Capital; Financial Strategy; Initial Public Offering; Investment; Leadership; Crisis Management; Financial Services Industry; Real Estate Industry
Citation
Goldberg, Lena G., and Adam Benjamin Nebesar. "Cypress Sharpridge: Raising Capital in a Time of Crisis." Harvard Business School Case 310-140, June 2010.