Corey Ribotsky (NIR Group)

Honoring the Memory of Onyx and Breezy: The Shefts Support Animal Welfare Organizations

 

Mark and Wanda Shefts began the Onyx and Breezy Foundation in 2004 with the goal of helping animals in need through several modalities. The foundation is named in honor and memory of the Shefts two Labrador Retrievers, Onyx who died in September, 2004, at the age of 13; and Breezy, born February 1997 and died in October, 2004, at the age of seven, from cancer.

The NIR Group, Corey Ribotsky managing partner, helps support Onyx and Breezy, where no donation is too small. Uniquely among foundations, this organization utilizes all its resources to support its mission. 100% of donations go towards helping animals, while administrative costs and fund raising expenses are paid for by the Foundation from donations of the Shefts family and other corporate sponsors and individuals.

Onyx and Breezy Helps Animals in Need

 The Onyx and Breezy Foundation is unique among animal welfare organizations. The stated mission of the foundation is “To provide financial support to credible organizations and individuals that benefit the welfare of animals.”

Corey Ribotsky of the NIR Group is a partner in this worthwhile endeavor, which gives financial support to the following activities:

1.    Medical facilities are provided with financial assistance to acquire equipment.

2.    Medical research is funded.

3.    In situations of hardship the foundation will provide medical treatment to animals in need.

4.    Providing funding for other organizations that assist animals and their welfare.

5.    Many other ways which improve and benefit the life of animals

Ribotsky: GM Bailout Deal a PIPE Transaction without a Doubt

 In an article published in June, 2009 on the on-line news magazine Reuters Hedgeworld, Corey Ribotsky of the NIR Group argues forcefully that the recent bailout or the failing mega company General Motors is just a PIPE deal by another name.

But what is a PIPE deal? Let’s take a brief look at this unique form of financing which is becoming more and more popular as the usual sources of capital get scarcer in our distressed economy.

The acronym PIPE stands for private investment in public equity.  PIPE financing can be a good choice for small to medium-sized publicly traded companies that need to raise capital but want to avoid the expense and regulatory issues which are necessary for making a secondary offering.

The private investment company buys the stock of the publicly traded company at a discount.

PIPEs come in two flavors, traditional and structured. Traditionally a PIPE allowed the private investor to purchase stock in the publicly traded company. This type of equity financing is the direct kind.

The structured PIPE is a bit more complex, and involves the publicly traded company issuing convertible debt. This type of PIPE is less risky for the private investor and does not reduce by dilution the value of the publicly-traded company’s stock, or outstanding shares immediately.