Year In Review Letters

December 2024

Dear Clients and Prospective Clients,

This past year was successful on several fronts. Barkers Point was fortunate to have completed five capital raises in 2024, including several in some of the most exciting and emerging sectors of the energy and AI infrastructure landscapes. Thank you to my clients for the trust you have placed with my firm and thank you to the investor community for your willingness to provide risk capital. Capital formation is key to driving innovation and progress.

Barkers Point is now entering its 5th year in business. The core mission remains advising and assisting clients in navigating the U.S. capital markets. A typical client is often raising its first institutional-type capital and generally developing core infrastructure, advancing an emerging technology or utilizing technology to offer improved and enhanced services. The firm is often working with companies at the intersection of technology and infrastructure.

Almost always, my clients own a substantial portion of their business and therefore whom they trust with their business is one of the most important decisions they ever make. I don’t take this responsibility lightly. In exchange, I offer transparent, honest advice based on years of experience. I am also wise enough to know what I don’t know and keen to learn every day. I am pleased to share this year that three clients have asked my firm to undertake repeat offerings, which to me is the ultimate compliment.

Below are the major highlights of 2024:

Accomplishments

  • $155 mm equity financing for Nscale (Arkon) – to finance AI Datacenter
  • Interim $19 mm Financing for Nscale (Arkon) – to finance AI Datacenter
  • Daroga Power / SER Capital Partners – Carbon Capture Joint Venture Formation ($100mm+ corporate and project financing to finance carbon capture projects)
  • Capital raising for Arkhouse activist campaign, a real estate activist firm

New Mandates Initiated

  • Growth capital raise for a U.S. based residential solar business with a differentiated
    business model
  • Private equity capital raise for an Israel based energy tech firm utilizing advanced
    technology to innovate the fluid measurement business
  • Capital raising for a company that recycles low value food waste to produce high quality
    animal feed
  • Several mandates for companies using AI tools and businesses serving the datacenter
    market

Proprietary and Confidential
12/21/24

Outlook for 2025
The markets roared in 2024, and we are seeing early signs of an IPO window opening. Interest
rates are low, energy prices have moderated, and high inflation appears tamed (albeit not as low
as the Fed might like). These factors all suggest strong tailwinds for 2025. Yet most markets are
at or near historical highs and valuations are stretched, so it is possible all the good news is
factored in. In addition, uncertain geopolitical events around the world as well as the upcoming
transition in U.S. administrations can change the market trajectory quickly. My bet is we are in
for a year with substantially more volatility.

In the infrastructure business, the most discussed topic is robust demand for power (unlike
anything we have seen in decades) driven by AI datacenters and increasing electrification. This
will necessitate more construction of energy and data infrastructure and lead to significant need
for capital. Barkers Point is pleased to be an active player in the convergence of these trends.

In closing, wishing everyone a healthy, prosperous and peaceful new year. Please don’t hesitate
to reach out if Barkers Point Capital Advisors can be of assistance to help navigate your next
capital raising.

Best,

Barry Kupferberg
bk@barkerspointcap.com
+1-917-416-3746

To view a PDF copy of this letter, click here.

January 2024

Dear Clients and Prospective Clients,

As I reflect on 2023 and think about the future, I truly have much to be thankful for and this note is meant to show my appreciation. The past year produced immense sadness and severe challenges for many, and my hope is we see better days ahead.

Barkers Point Capital Advisors was founded with a mission to advise and assist domestic and international clients navigate the U.S. capital markets. Often, the firm is focused on helping businesses finance emerging and innovative technologies.

I want to thank my clients for helping to make 2023 a successful and rewarding year. Most clients are entrepreneurs that own their business and so success is very personal. I sincerely appreciate the trust you place in my firm and strive every day to keep that trust by providing valuable insight and service. I also treasure the friendships that have been created and fostered.

Barkers Point was fortunate this past year to have been involved in and closed transactions in some of the most innovative sectors of the economy:

  • Completed more than $135 mm of debt and equity financings for a renewable datacenter infrastructure business (AI and Bitcoin hosting).
  • Raised significant capital for a real estate activist firm targeting a public company.
  • Executed a term sheet for development and project capital (closing expected in Q1) on behalf of a renewable energy developer client.
  • Continued activity on behalf of sustainable aviation companies (drones and cargo aircraft).
  • Commenced several new mandates for companies providing critical software for agriculture, water, and other infrastructure related businesses.
  • Expanded activity in non-energy sectors including biotechnology, retail and real estate.

The new year is starting off with a significant backlog of business activity and exciting new mandates. I look forward to new successes in helping clients achieve their goals.

Below are some examples of Barkers Point clients in the press:

Please don’t hesitate to reach out to to see if Barkers Point can be helpful with your business and capital needs.

I pride myself on providing transparent and honest advice and can assure you that Barkers Point will work very hard for you. Wishing you all the best for a healthy and prosperous 2024!

Sincerely yours,

Barry Kupferberg, Managing Partner

To view a PDF copy of this letter, click here.