San Diego, CA, Jan. 12, 2016 (GLOBE NEWSWIRE) —
PlacementTracker Publishes 2015 PIPE Market League Tables
PlacementTracker, the leading source for data and analysis to institutions in the PIPE market, today announced the most active investment banks, investors, and law firms in the U.S. PIPE market during 2015.
During 2015, a total of $50.7 billion was raised in 898 transactions. Of this amount, 9 transactions totaling $773.5 million have been announced but not yet closed as of 01/05/2016. Transaction volume for 2015 was 5% higher than 2014 (856 Deals) and a whopping 74% higher by dollar volume ($29.2 billion). Contributing to the large jump in dollar volume were 9 deals of over a billion dollars, the most we’ve seen in any year since 2008.
We congratulate all of the active members of the PIPE community who have continued their momentum throughout 2015. Most of these firms are long-time clients of PlacementTracker, and we are dedicated to providing them with access to the very best data and analytics available in our industry.
Most Active Participants Include:
H.C. Wainwright & Co., LLC as the most active placement agent
Sabby Management, LLC as the most active institutional investor
Cooley LLP as the most active issuer counsel
Schulte Roth & Zabel, LLP as the most active investor counsel
Ellenoff Grossman & Schole LLP as the most active placement agent counsel
The 2015 U.S. PIPE Market Investment Banking League Table
By Number of Transactions:
Placement Agent Name
Transaction Count
Total Amount Placed
H.C. Wainwright & Co., LLC
55
$
1,007,164,102
Roth Capital Partners, LLC
50
$
960,550,737
Maxim Group LLC
36
$
710,559,296
Cowen and Company, LLC
33
$
1,370,795,141
Jefferies & Company, Inc.
23
$
2,248,091,246
Piper Jaffray & Co.
22
$
961,482,915
Ladenburg Thalmann & Co., Inc.
21
$
353,672,896
Chardan Capital Markets
21
$
227,037,119
Aegis Capital Corporation
17
$
246,888,766
Sandler O’Neill & Partners, L.P.
16
$
396,450,000
Craig-Hallum Capital Group LLC
14
$
187,658,890
Raymond James & Associates Inc.
13
$
472,154,224
Oppenheimer & Co. Inc.
13
$
314,698,412
Northland Securities, Inc.
13
$
134,717,474
Barclays Capital, Inc.
11
$
1,457,285,083
JMP Securities LLC
11
$
867,884,869
Laidlaw & Company (UK) Ltd.
11
$
89,847,208
Stifel Nicolaus Weisel
10
$
675,323,735
William Blair & Company, LLC
9
$
571,464,308
RBC Capital Markets, Inc.
9
$
536,019,320
MLV & Co. LLC
9
$
300,317,464
Janney Montgomery Scott, Inc.
9
$
280,484,632
National Securities Corporation
9
$
145,288,052
Canaccord Genuity Inc. (US)
8
$
215,679,647
FIG Partners, LLC
8
$
122,862,539
Investment Banking rankings exclude all 144-A Offerings, Equity Lines of Credit, At the Market Transactions, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the OTC Markets. On transactions where an investment banking firm has acted solely as Financial Advisor, that transaction has been excluded from that firm’s ranking. Co-agented transactions award full transaction credit to all agents participating (regardless of status of lead agent or co-agent). Data is for closed and definitive agreement transactions reported as of 01/05/2016.
The 2015 U.S. PIPE Market Healthcare Sector Investment Banking League Table
By Number of Transactions:
Placement Agent Name
Transaction Count
Total Amount Placed
H.C. Wainwright & Co., LLC
42
$
909,839,790
Roth Capital Partners, LLC
34
$
808,953,350
Maxim Group LLC
30
$
586,814,116
Cowen and Company, LLC
20
$
1,161,027,038
Piper Jaffray & Co.
20
$
900,213,575
Jefferies & Company, Inc.
17
$
971,766,246
JMP Securities LLC
12
$
880,931,742
Ladenburg Thalmann & Co., Inc.
12
$
246,208,237
Stifel Nicolaus Weisel
10
$
675,323,735
Laidlaw & Company (UK) Ltd.
10
$
83,432,422
MLV & Co. LLC
9
$
315,317,464
Aegis Capital Corporation
9
$
223,041,312
William Blair & Company, LLC
8
$
565,194,968
Oppenheimer & Co. Inc.
8
$
263,191,789
RBC Capital Markets, Inc.
7
$
472,749,980
LifeSci Capital, LLC
7
$
261,442,795
Chardan Capital Markets
7
$
166,122,075
Leerink Swann, LLC
6
$
660,287,577
Janney Montgomery Scott, Inc.
6
$
189,148,128
Raymond James & Associates Inc.
6
$
182,497,774
Wedbush PacGrow Life Sciences
5
$
310,022,411
Needham & Company, LLC
5
$
304,697,307
Brean Capital, LLC
5
$
234,462,506
Noble Financial Capital Markets
5
$
191,215,010
Canaccord Genuity Inc. (US)
5
$
129,579,647
Investment Banking rankings exclude all 144-A Offerings, Equity Lines of Credit, At the Market Transactions, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the OTC Markets. On transactions where an investment banking firm has acted solely as Financial Advisor, that transaction has been excluded from that firm’s ranking. Co-agented transactions award full transaction credit to all agents participating (regardless of status of lead agent or co-agent). Data is for closed and definitive agreement transactions reported as of 01/05/2016.
The 2015 U.S. PIPE Market Institutional Investor League Table
By Number of Transactions:
Investor Name
Transaction Count
Total Amount Invested
Sabby Management, LLC
60
$
94,645,401
Millennium Management, LLC
47
Not Disclosed
Heights Capital Management, Inc.
34
$
43,123,325
Citadel Advisors, LLC
32
$
8,000,000
Bank of New York
32
$
1,788,000
Broadfin Capital, LLC
29
$
48,147,362
Fidelity Management & Research Corporation
24
$
15,099,999
Empery Asset Management LP
22
$
38,985,415
Hudson Bay Capital Management L.P.
19
$
243,085,565
DAFNA Capital Management, LLC
18
$
2,244,958
LH Financial Services Corporation
17
$
17,861,027
Alyeska Investment Group, L.P.
16
Not Disclosed
D.E. Shaw & Co., L.P.
15
Not Disclosed
Deerfield Management
14
$
113,800,009
Perceptive Advisors, LLC
14
$
7,582,974
Anson Capital, LP
13
$
13,876,568
IntraCoastal Capital, LLC
13
$
13,559,625
Franklin Templeton Group
13
$
13,363,000
UBS O’Connor LLC
13
$
7,500,000
Brio Capital Management LLC
13
$
5,025,446
Baker Brothers Advisors, LLC
11
$
66,891,603
RA Capital Management, LLC
11
$
25,056,049
Venbio Select Advisor LLC
11
$
4,649,999
AWM Investment Management (MGP Advisors, LLC)
11
$
249,996
Tenor Capital Management
10
$
22,169,992
Investor rankings exclude all 144-A Offerings, Equity Lines of Credit, At the Market Transactions, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the OTC Markets. Investors classified as Corporate Investors and Insurance Companies have been excluded from this ranking. Data is for closed and definitive agreement transactions reported as of 01/05/2016.
The 2015 PIPE Market Issuer Counsel League Table
By Number of Transactions:
Legal Counsel
Transaction Count
Total Amount Advised
Cooley LLP
20
$
671,523,233
Latham & Watkins, LLP
17
$
1,284,203,848
Sichenzia Ross Friedman Ference, LLP
17
$
219,140,625
Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC
15
$
227,008,949
DLA Piper
14
$
475,933,140
Goodwin Procter, LLP
14
$
270,222,248
Greenberg Traurig, LLP
12
$
183,420,444
K&L Gates LLP
9
$
343,305,631
Morgan, Lewis & Bockius, LLP
9
$
145,017,273
Paul Hastings LLP
9
$
119,710,882
Dorsey & Whitney, LLP
8
$
119,009,250
Manatt, Phelps & Phillips, LLP
7
$
118,251,164
Robinson Brog Leinwand Greene Genovese & Gluck P.C.
7
$
52,076,726
Ellenoff Grossman & Schole LLP
7
$
36,650,311
Vinson & Elkins, LLP
6
$
1,720,284,615
Alston & Bird, LLP
6
$
306,764,288
O’Melveny & Myers, LLP
6
$
211,970,542
Haynes and Boone, LLP
6
$
105,066,472
Norton Rose Fulbright
6
$
90,234,500
Morrison & Foerster, LLP
6
$
80,330,002
Fox Rothschild, LLP
6
$
79,450,628
Reed Smith, LLP
6
$
74,722,421
Wilson Sonsini Goodrich & Rosati
5
$
821,555,000
Wilmer Cutler Pickering Hale & Dorr, LLP
5
$
419,994,989
Troutman Sanders, LLP
5
$
315,299,996
Legal counsel rankings exclude all 144-A Offerings, Equity Lines of Credit, At the Market Transactions, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the OTC Markets. Data is for closed and definitive agreement transactions reported as of 01/05/2016.
The 2015 PIPE Market Investor Counsel League Table
By Number of Transactions:
Legal Counsel
Transaction Count
Total Amount Advised
Schulte Roth & Zabel, LLP
96
$
6,853,780,923
Kelley Drye & Warren LLP
18
$
1,443,599,762
Ellenoff Grossman & Schole LLP
12
$
81,522,671
Skadden, Arps, Slate, Meagher & Flom, LLP
6
$
2,046,000,000
Chapman & Cutler, LLP
6
$
425,000,000
Greenberg Traurig, LLP
6
$
57,112,539
Kirkland & Ellis
5
$
2,260,000,000
Ropes & Gray
5
$
262,495,133
Latham & Watkins, LLP
5
$
45,000,000
Baker Botts, LLP
4
$
5,324,999,978
Cleary, Gottlieb, Steen & Hamilton
4
$
466,449,971
Simpson Thacher Bartlett, LLP
4
$
180,000,000
Wachtell, Lipton, Rosen & Katz
3
$
232,200,000
Akin, Gump, Strauss, Hauer & Feld, LLP
3
$
215,000,000
Katten Muchin Rosenman, LLP
3
$
124,999,674
Paul Hastings LLP
3
$
97,500,000
Fried, Frank, Harris, Shriver & Jacobson
3
$
69,667,959
Haynes and Boone, LLP
3
$
24,489,740
Lowenstein Sandler LLP
3
$
20,635,442
Zhong Lun Law Firm
3
$
20,000,000
Sichenzia Ross Friedman Ference, LLP
3
$
11,335,700
Lucosky Brookman LLP
3
$
11,000,000
Riemer & Braunstein LLP
3
$
8,000,000
Robinson Brog Leinwand Greene Genovese & Gluck P.C.
3
$
6,400,000
Hogan Lovells
2
$
3,779,369,185
Legal counsel rankings exclude all 144-A Offerings, Equity Lines of Credit, At the Market Transactions, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the OTC Markets. Data is for closed and definitive agreement transactions reported as of 01/05/2016.
The 2015 PIPE Market Placement Agent Counsel League Table
By Number of Transactions:
Legal Counsel
Transaction Count
Total Amount Advised
Ellenoff Grossman & Schole LLP
66
$
427,937,492
Goodwin Procter, LLP
26
$
1,063,600,318
Lowenstein Sandler LLP
14
$
193,362,038
Cooley LLP
11
$
492,219,521
Latham & Watkins, LLP
9
$
756,676,794
Covington & Burling
8
$
385,814,688
Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC
8
$
345,172,051
Faegre Baker Daniels LLP
7
$
36,404,982
Proskauer Rose, LLP
6
$
113,904,998
Sichenzia Ross Friedman Ference, LLP
6
$
49,879,338
LeClairRyan, PC
4
$
136,058,997
K&L Gates LLP
4
$
104,343,095
Kelley Drye & Warren LLP
4
$
61,243,539
Graubard
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