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PlacementTracker Publishes Third Quarter 2014 PIPE Market League Tables

San Diego, Oct. 8, 2014 (GLOBE NEWSWIRE) -- 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 through the third quarter of 2014.

Most active investment banks by total amount placed in Q3 2014.


Through the end of Q3, a total of $24 billion was raised in 674 transactions in the U.S. PIPE market. Of this amount, 7 transactions totaling $1.1 billion have been announced but not yet closed as of 10/03/14.

With deal volume and dollars raised continuing to outpace 2013, the market is also seeing some interesting changes. The trend towards registered offerings that participants have seen over the past five years seems to have reversed course to some extent, with the majority of growth coming from traditional unregistered deals.

Most Active Participants Include:

The Q3 2014 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 40 $ 822,757,159
Roth Capital Partners, LLC 35 $ 917,519,095
Cowen and Company, LLC 27 $ 1,059,739,158
Maxim Group LLC 24 $ 500,553,176
Craig-Hallum Capital Group LLC 20 $ 344,943,832
Canaccord Genuity Inc. (US) 18 $ 744,602,682
Chardan Capital Markets 14 $ 208,567,713
Northland Securities, Inc. 13 $ 120,081,929
Stifel Nicolaus Weisel 12 $ 445,569,237
Jefferies & Company, Inc. 11 $ 853,332,207
Barclays Capital, Inc. 10 $ 1,079,119,500
JMP Securities LLC 10 $ 736,168,507
Piper Jaffray & Co. 10 $ 656,749,261
Ladenburg Thalmann & Co., Inc. 10 $ 528,331,696
Oppenheimer & Co. Inc. 10 $ 466,440,393
Aegis Capital Corporation 10 $ 177,385,688
Laidlaw & Company (UK) Ltd. 10 $ 93,058,902
Needham & Company, LLC 9 $ 533,111,330
National Securities Corporation 8 $ 116,067,220
Dawson James Securities, Inc. 8 $ 80,029,543
RBC Capital Markets, Inc. 7 $ 637,867,685
Brean Capital, LLC 7 $ 207,126,569
Palladium Capital Advisors, LLC 7 $ 28,534,691
William Blair & Company, LLC 6 $ 201,756,291
Leerink Swann, LLC 5 $ 353,501,738

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 Pink Sheets. 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 10/03/14.

The Q3 2014 U.S. PIPE Market
Investment Banking League Table
By Total Amount Placed:

Placement Agent Name Transaction Count Total Amount Placed
Bank of America Merrill Lynch 2 $ 3,545,012,502
Morgan Stanley & Co. International plc 1 $ 3,441,512,502
Citigroup Global Markets Limited 1 $ 3,441,512,502
Goldman Sachs International 1 $ 3,441,512,502
HSBC Bank plc 1 $ 3,441,512,502
UBS Limited 1 $ 3,441,512,502
Mediobanca-Banca di Credito Finanziario S.p.A 1 $ 3,441,512,502
Morgan Stanley 3 $ 1,245,000,000
Barclays Capital, Inc. 10 $ 1,079,119,500
Cowen and Company, LLC 27 $ 1,059,739,158
Deutsche Bank AG, Singapore Branch 1 $ 1,000,000,000
Roth Capital Partners, LLC 35 $ 917,519,095
Jefferies & Company, Inc. 11 $ 853,332,207
H.C. Wainwright & Co., LLC 40 $ 822,757,159
Canaccord Genuity Inc. (US) 18 $ 744,602,682
JMP Securities LLC 10 $ 736,168,507
Piper Jaffray & Co. 10 $ 656,749,261
RBC Capital Markets, Inc. 7 $ 637,867,685
J.P. Morgan Chase & Co. 4 $ 556,997,435
Needham & Company, LLC 9 $ 533,111,330
Ladenburg Thalmann & Co., Inc. 10 $ 528,331,696
RS Platou Markets AS 3 $ 527,250,006
Maxim Group LLC 24 $ 500,553,176
Oppenheimer & Co. Inc. 10 $ 466,440,393
Deutsche Bank Securities, Inc. 3 $ 450,158,750

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 Pink Sheets. 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 10/03/14.

The Q3 2014 U.S. PIPE Market
Institutional Investor League Table
By Number of Transactions:

Investor Name Transaction Count Total Amount Invested
Millennium Management, LLC 39 $ 1,000,000
Citadel Advisors, LLC 36 Not Disclosed
Sabby Management, LLC 35 $ 68,478,940
Bank of New York 27 Not Disclosed
Perceptive Advisors, LLC 20 $ 12,256,118
Fidelity Management & Research Corporation 19 Not Disclosed
Group One Trading, L.P. 19 Not Disclosed
Heights Capital Management, Inc. 18 $ 23,956,589
Broadfin Capital, LLC 18 $ 17,155,189
Downsview Capital, Inc. 18 $ 13,786,972
Hudson Bay Capital Management L.P. 16 $ 64,095,400
Empery Asset Management LP 16 $ 28,334,782
D.E. Shaw & Co., L.P. 16 Not Disclosed
UBS O'Connor LLC 15 $ 1,500,000
Deerfield Management 14 $ 163,499,998
Equitec Group, LLC 14 $ 3,162,335
Wellington Management Company LLP 12 $ 74,450,566
LH Financial Services Corporation 12 $ 15,064,894
AWM Investment Management (MGP Advisors, LLC) 12 $ 4,607,840
Brio Capital Management LLC 12 $ 3,793,751
DAFNA Capital Management, LLC 11 $ 6,466,910
Alyeska Investment Group, L.P. 11 $ 2,000,000
S.A.C. Capital Advisors, LLC 11 Not Disclosed
Baker Brothers Advisors, LLC 10 $ 17,000,006
Whitebox Advisors, LLC 9 $ 57,438,329

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 Pink Sheets. 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 10/03/14.

The Q3 2014 PIPE Market
Issuer Counsel League Table
By Number of Transactions:

Legal Counsel Transaction Count Total Amount Advised
Sichenzia Ross Friedman Ference, LLP 23 $ 141,689,779
Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC 15 $ 246,686,915
Cooley LLP 14 $ 590,074,045
DLA Piper 11 $ 257,189,453
Goodwin Procter, LLP 8 $ 219,178,767
Latham & Watkins, LLP 7 $ 1,320,127,708
Skadden, Arps, Slate, Meagher & Flom, LLP 7 $ 521,121,919
Seward & Kissel LLP 7 $ 212,701,249
Greenberg Traurig, LLP 7 $ 58,828,838
Wilmer Cutler Pickering Hale & Dorr, LLP 6 $ 680,836,357
Ropes & Gray 6 $ 187,938,312
Morrison & Foerster, LLP 6 $ 136,635,009
Ellenoff Grossman & Schole LLP 6 $ 83,921,679
Weintraub Tobin Chediak Coleman Grodin 6 $ 41,331,412
Dorsey & Whitney, LLP 6 $ 31,130,250
Davis Graham & Stubbs, LLP 6 $ 29,491,759
Paul Hastings LLP 5 $ 83,799,990
Lowenstein Sandler, PC 5 $ 65,001,875
Robinson Brog Leinwand Greene Genovese & Gluck P.C. 5 $ 63,102,653
Nason Yeager Gerson White & Lioce, P.A. 5 $ 12,154,965
Loeb & Loeb, LLP 5 $ 11,629,197
Szaferman Lakind Blumstein & Blader, PC 5 $ 10,850,500
Cravath, Swaine & Moore 4 $ 563,750,001
Reeder & Simpson P.C. 4 $ 445,250,004
Troutman Sanders, LLP 4 $ 194,020,375

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 Pink Sheets. Data is for closed and definitive agreement transactions reported as of 10/03/14.

The Q3 2014 PIPE Market
Investor Counsel League Table
By Number of Transactions:

Legal Counsel Transaction Count Total Amount Advised
Schulte Roth & Zabel, LLP 55 $ 2,135,878,282
Greenberg Traurig, LLP 14 $ 237,074,952
Ellenoff Grossman & Schole LLP 9 $ 20,124,918
Sichenzia Ross Friedman Ference, LLP 5 $ 35,717,917
Ropes & Gray 4 $ 147,731,564
Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC 4 $ 24,280,000
Brown Rudnick LLP 3 $ 61,900,000
Lowenstein Sandler, PC 3 $ 60,682,740
Grushko & Mittman, PC 3 $ 5,500,000
Skadden, Arps, Slate, Meagher & Flom, LLP 2 $ 2,038,473,602
Simpson Thacher Bartlett, LLP 2 $ 1,198,000,000
Latham & Watkins, LLP 2 $ 416,249,997
Akin, Gump, Strauss, Hauer & Feld, LLP 2 $ 319,999,944
Norton Rose Fulbright 2 $ 32,302,396
Winston & Strawn 2 $ 26,250,000
Goodwin Procter, LLP 2 $ 10,000,000
Hansen Black Anderson Ashcraft PLLC 2 $ 2,500,000
O'Melveny & Myers, LLP 1 $ 700,000,000
Torys, LLP 1 $ 700,000,000
Weil, Gotshal & Manges, LLP 1 $ 700,000,000
Sullivan & Worcester, LLP 1 $ 682,000,000
Cleary, Gottlieb, Steen & Hamilton 1 $ 500,000,010
Debevoise & Plimpton, LLP 1 $ 500,000,000
Holland & Hart, LLP 1 $ 119,291,349
Vinson & Elkins, LLP 1 $ 98,000,000

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 Pink Sheets. Data is for closed and definitive agreement transactions reported as of 10/03/14.

The Q3 2014 PIPE Market
Placement Agent Counsel League Table
By Number of Transactions:

Legal Counsel Transaction Count Total Amount Advised
Ellenoff Grossman & Schole LLP 45 $ 518,712,490
Goodwin Procter, LLP 25 $ 883,184,816
Lowenstein Sandler, PC 12 $ 207,531,154
Proskauer Rose, LLP 9 $ 287,328,126
Latham & Watkins, LLP 8 $ 728,622,680
Stikeman Elliott LLP 7 $ 151,171,305
Sichenzia Ross Friedman Ference, LLP 7 $ 54,593,601
Choate, Hall & Stewart, LLP 6 $ 74,758,375
Faegre Baker Daniels LLP 6 $ 26,800,608
Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC 4 $ 120,610,875
Blank Rome LLP 4 $ 71,538,838
Fried, Frank, Harris, Shriver & Jacobson 3 $ 415,750,006
Pillsbury, Winthrop, Shaw & Pittman, LLP 3 $ 376,628,705
Covington & Burling 3 $ 195,847,207
Morrison & Foerster, LLP 3 $ 119,855,013
Reed Smith, LLP 3 $ 33,349,250
Schiff Hardin, LLP 3 $ 23,579,521
Dechert, LLP 2 $ 103,356,362
Skadden, Arps, Slate, Meagher & Flom, LLP 2 $ 60,030,000
Nixon Peabody, LLP 2 $ 49,287,000
Faegre & Benson, LLP 2 $ 20,107,875
Loeb & Loeb, LLP 2 $ 18,413,500
Schiff Hardin & Waite 2 $ 17,753,904
Duane Morris, LLP 2 $ 14,888,720
K&L Gates LLP 1 $ 14,676,558

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 Pink Sheets. Data is for closed and definitive agreement transactions reported as of 10/03/14.

About PlacementTracker
PlacementTracker, a flagship product of Sagient Research Systems, is well recognized as the leading provider of research, data and analytics on the PIPE market (Private Investment in Public Equity). With data on every private placement since January 1, 1995, PlacementTracker's web-based platform provides subscribers with an easy to use, comprehensive means to: evaluate PIPE transactions & investors, perform quick transaction pricing, identify potential issuers and investors, and compile comparable transaction, investor & agent statistics. PlacementTracker's dynamically updating League Tables are available online at: http://www.placementtracker.com/leaguetables.cfm.

About Sagient Research Systems
Sagient Research Systems is a publisher of specialized research and data. They develop and sell proprietary research products to global enterprises, including investment banks, mutual and hedge funds, pharmaceutical companies, academic institutions, and government agencies. In each of 2007, 2008, 2009, 2010, and 2012 Sagient Research was named to the Inc. 5000 list of fastest growing companies.

For more information, please visit the Sagient Research Systems website at www.sagientresearch.com.

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CONTACT: Mike Kotecki 858-200-2370

Source: Sagient Research Systems