Investment Banking

We harvest the deep expertise of our senior bankers and product specialists to deliver corporate clients impactful strategic advice and flawlessly executed equity and debt financings aimed at helping them outperform.

Cowen is focused on key sectors of the US economy.  Our corporate clients are having a profound impact on the global economy, and we are proud to lead manage their capital raising efforts and advise them on company-defining M&A transactions.

We help our clients achieve their goals by consistently delivering for them.  We bring clients the best of our professionals’ collective experience, providing holistic capital markets and strategic advice, thought leadership and connectivity to our industry relationships.

Advisory Services

Balance Sheet Advisory

Our balance sheet advisory professionals advise stressed and distressed companies with respect to managing liquidity, understanding working capital alternatives and projections and considering capital structure alternatives.  Our team is highly experienced in both Chapter 11 proceedings and out-of-court restructurings.

When acting for individual creditors or committees (official and ad hoc), the balance sheet advisory team is focused on maximizing recoveries for its clients.  Understanding the valuation of a distressed company – both assets and enterprise value – allows us to help constituencies develop negotiating positions and potential restructuring alternatives.

Cowen’s advisory professionals deliver impactful advice and tailored solutions that address our clients’ challenges and opportunities.

Mergers and Acquisitions

Our M&A professionals have demonstrated expertise in sales and divestitures, strategic partnerships, mergers & acquisitions, fairness opinions / valuations, cross border transactions, takeover defense and shareholder activist situations.  We are equally active with private and public companies in key sectors of the US economy.

We leverage our expertise in capital markets to bring clients a tailored solution that facilitates its company-defining M&A transaction.

Latest Transactions

  • Cowen is pleased to announce that Draper Oakwood Technology Acquisition, Inc. and Reebonz Limited (Reebonz), a leading online luxury marketplace and platform in the Asia Pacific region based in Singapore, announced today that they have entered into a definitive business combination agreement pursuant to which DOTA and Reebonz will become subsidiaries of a newly created Cayman Islands exempted company, DOTA Holdings Limited (RBZ).
  • Infrastructure and Energy Alternatives, Inc. (IEA) (NASDAQ: IEA) has signed an agreement to acquire Saiia Construction Company and American Civil Constructors (collectively The ACC Companies), a portfolio company of Insight Equity, in a transaction valued at $145.0 million.
  • Constellation Alpha Capital Corp. (NASDAQ: CNAC) (Constellation), a blank check company focused on consolidating the healthcare services sector in India, has executed a definitive agreement to acquire Medall Healthcare Private Limited (Medall), Indias largest integrated pathology and radiology company.



Michael Wildish
Head of Mergers & Acquisitions
D 646 562 1141 

Equity Capital Markets

Our equity capital markets team is experienced in the successful execution of all types of private and public equity offerings including:

  • IPO
  • Follow-on
  • SPACs
  • Confidentially Marketed Public Offering (CMPO)
  • Registered Direct (RD)
  • PIPE
  • Private Placement
  • At-the-Market Offering (ATM)
  • Convertible Bond
  • Other hybrid solutions


Our team has outstanding institutional relationships and proven experience in efficiently managing and positioning stories with the investment community.  We are in daily communication with institutional investors worldwide, providing us with a live pulse on the market.

Our leading equities market share within key sectors of the US economy enables us to have a deep perspective on core investment themes.  In other words, we know what it takes to help our clients achieve their goals.

Latest Transactions

  • Cision Ltd. (NYSE: CISN) is a leading global provider of PR software, media distribution, media intelligence and related professional services. Public relations and communications professionals use its products and services to help manage, execute and measure their strategic PR and communications programs.
  • bluebird is a biotechnology company committed to developing potentially transformative gene therapies for severe genetic diseases and cancer
  • Natera is a diagnostics company that has non-invasive tests to evaluate risk, and thereby enable early-detection of prenatal and oncology conditions.



Grant Miller
Head of Equity Capital Markets
D 646 562 1164

Debt Capital Markets

Our debt capital markets team is experienced in every type of debt including:

  • Revolver
  • ABL facilities
  • Secured loan
  • Unsecured debt
  • Mezzanine debt
  • High yield debt
  • Other customized debt solutions


We operate primarily in the private markets and our transactions span the entire capital structure.

Cowen specializes in “solutions financing”, where a customized product is required to address a unique need (e.g. corporate structure issues, dividend recap desires, atypical collateral for a bond, non-call period to support investment horizon, etc.).

Latest Transactions

  • Tilray intends to use the net proceeds for working capital, future acquisitions and general corporate purposes, and to repay the existing mortgage related to their facility in Nanaimo, British Columbia.
  • Hi-Crush Partners is a pure play, low-cost, domestic producer and supplier of premium monocrystalline sand, a specialized mineral that is used as a proppant to enhance the recovery rates of hydrocarbons from oil and natural gas wells.
  • Therapeutics MD operates as women's healthcare product company. Its portfolio of hormone therapy drugs include candidates for the treatment of moderate to severe vasomotor symptoms due to menopause and for the treatment of moderate to severe syspareunia.



Craig E. Zaph
Head of Debt Capital Markets
D 646 562 1188


The accomplishments of our investment banking team are possible because of the range of our professionals’ experience and the depth of our client relationships. Our senior professionals have decades of experience on Wall Street at bulge and growth-focused firms.