MacroShares Housing IPO Size Doubled and Auction Dates Set
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MADISON, N.J., April 20, 2009 (GLOBE NEWSWIRE) -- The highly anticipated Initial
Public Offering of MacroShares Major Metro Housing Up and MacroShares Major
Metro Housing Down is scheduled to run from 1 pm April 28th through 1 pm May 5th
(Eastern Daylight Time). The initial offerings of both UMM and DMM will occur
simultaneously via an electronic auction process managed by WR Hambrecht + Co.
MacroMarkets' subsidiary, Macro Housing Depositor, doubled the number of shares
being offered during the IPO to 20 million shares of UMM and 20 Million shares
of DMM for a total offering size of $1 Billion. The increased offering amount is
a result of the high level of interest voiced by the investor community.
On May 11th, the securities will be listed for trading on NYSE Arca once the IPO
is completed.
Sam Masucci, President and CEO of MacroMarkets, commented, "U.S. residential
real estate is the largest unsecuritized asset class in the world. MacroShares
Major Metro Housing will open up this large and important asset class to the
global investor community."
"Our current financial crisis is due to a failure to manage housing risk," cites
renowned economist and MacroMarkets' co-founder, Robert Shiller. "MacroShare
Housing products will begin to fill this massive void. MacroShares Major Metro
Housing Up and Down are market-based solutions to this unprecedented financial
crisis."
MacroShares Major Metro Housing will provide investors with much needed access
to the housing asset class, allowing for investment in either the upward or
downward movement of home prices. The securities are designed to track the
change in U.S. Home Prices as measured by the closely-followed S&P/Case-Shiller
Composite-10 Home Price Index. The paired securities will have a five and a half
year term and will feature a 3x (300%) leverage factor.
The Major Metro Housing trusts will be fully-collateralized by short-term United
States Treasury Bills, overnight repurchase agreements secured by Treasury
securities, and cash. UMM and DMM were designed to offer U.S. housing exposure
with exchange traded liquidity but without issuer and counterparty credit risk.
The trusts generate quarterly distributions for MacroShares' investors when
interest income exceeds trust expenses.
Individual investors wishing to participate in the IPO can do so by contacting
by WR Hambrecht + Co (1-800-OPEN IPO) or their broker-dealer. Broker-dealers
wishing to participate can do so by contacting MacroMarkets prior to the
auction.
Specific information about the auction and the securities can be found by
contacting MacroMarkets at 888-9HOUSE5 (888-946-8735) or by visiting
www.MacroMarkets.com.
A registration statement relating to these securities has been filed with the
Securities and Exchange Commission but has not yet become effective. Securities
may not be sold or offers to buy be accepted prior to the time that the
registration statement becomes effective. You may obtain a written prospectus by
visiting EDGAR on the SEC website at www.sec.gov. Alternatively, MacroShares
Housing Depositor, LLC, will arrange to send you the prospectus if you request
by calling toll-free 888-9House5.
MacroShares Housing Depositor, LLC is a Delaware limited liability company and
is acting as the depositor for the MacroShares Metro Market Housing Up and Down
trusts. Before you invest, you should read the prospectus in the registration
statement and other documents the issuer has filed with the SEC for more
complete information about the issuer and this offering.
MacroMarkets LLC is the Administrative Agent and its subsidiary, MacroFinancial,
LLC, is the marketing agent for the MacroShares Trusts. MacroFinancial is
registered with the SEC as a broker-dealer and is a member of the Financial
Industry Regulatory Authority.
Important Risks
This Information does not represent an offer to sell securities of the
MacroShares Trusts and it is not soliciting an offer to buy securities of these
Trusts. There can be no assurance that the Trusts will achieve their investment
objectives. An investment in the MacroShares Trusts involves significant risks,
including the risk of loss of substantially all of your investment. There is no
guarantee as to the amount of any quarterly distribution or the amount of the
final distribution to shareholders. You should review the risk factors in the
prospectus prior to investing in a MacroShares Trust.
Fluctuations in the underlying value of a MacroShares Trust and other factors
may affect the market price of your MacroShares investment. An investment in a
MacroShares Trust will not resemble a direct investment in the asset being
tracked. The price of the asset being tracked by a MacroShares Trust may be
volatile. It may be difficult to predict whether in the long-term the price of
the asset being tracked will reflect a generally upward or downward trend. There
are risks associated with investing in a product linked to a benchmark. A
substitute price may be used as the reference price of the benchmark asset.
MacroMarkets LLC and their respective affiliates do not provide tax advice.
Investors are urged to consult their tax advisor to fully understand the tax
implications associated with and investment in any MacroShares Trust.
Additional Information about MacroShares can be found at www.macroshares.com
About MacroMarkets
MacroMarkets is an innovative financial products company on a mission to add
liquidity to valuable economic interests and important asset classes throughout
the world. MacroShares Housing Depositor, LLC is a Delaware limited liability
company and is acting as the depositor for the MacroShares Major Metro Housing
Up and Down trusts.
About WR Hambrecht + Co
WR Hambrecht + Co (www.wrhambrecht.com) is a disruptive financial services firm
using technology and auction processes to provide open and fair access to the
capital markets for issuers and investors. The firm's impartial auctions, which
allow the market to determine pricing and allocation, are dramatically changing
the financial services landscape. WR Hambrecht + Co is headquartered in San
Francisco with offices in Boston, New York, and Philadelphia.
Standard & Poor's does not sponsor, endorse, sell or promote any S&P index-based
investment product.
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CONTACT: MacroMarkets LLC
Press Inquiries:
Diane Masucci
973-889-1973 x 103
General Inquires:
888-9House5
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