Ariel Imas, Karen Sterling and Braden Ferrari joined the investment banking firm Avalon Group, after having left Spencer Clarke. The group's focus is on raising capital for small publically traded companies and some private companies, consulting and mergers and acquisitions in consumer products and life sciences, Ferrari said in an email.
Ferrari is now co-president of capital markets in investment banking at New York-based Avalon along with Imas. Sterling is a managing director. Avalon has not arranged any PIPE financings of $1 million or more, according to PrivateRaise, DealFlow Media's data service. Spencer Clarke has raised more than $64.3 million in at least 11 PIPEs since 2004.