PlacementTracker Publishes Most Active PIPE Investors in First Half of 2013

San Diego, CA, July 10, 2013 (GLOBE NEWSWIRE) -- Roth Capital Partners, LLC ranked as the number one most active investment bank and Sabby Management, LLC ranked as the number one most active institutional investor in the U.S. PIPE market during the first half of 2013. Cowen and Company, LLC once again ranked as the most active investment bank in the busiest segment of the market, the healthcare sector.

Sagient Research also announced the most active counsels in the U.S. PIPE market during the first half of 2013. Cooley LLP ranked as the number one most active issuer counsel, Schulte Roth & Zabel, LLP ranked as the number one most active investor counsel, and Ellenoff Grossman & Schole LLP ranked as the number one most active placement agent counsel.

Commenting on the activity in the PIPE market, Robert Kyle, Sagient Research's Chief Executive Officer said, "A total of $12.1 billion was raised in 383 transactions in the U.S. PIPE market during the first half of this year, of this amount, 6 transactions totaling $311 million have been announced but not yet closed as of 7/08/13."

The First Half 2013 U.S. PIPE Market Investment Banking League Table

By Number of Transactions:

Placement Agent Name Transaction Count Total Amount Placed
Roth Capital Partners, LLC 22 $ 319,983,809
Dawson James Securities, Inc. 16 $ 83,923,010
Ladenburg Thalmann & Co., Inc. 15 $ 418,656,542
Cowen and Company, LLC 12 $ 745,645,318
Jefferies & Company, Inc. 11 $ 1,007,280,823
Canaccord Genuity Inc. (US) 9 $ 446,785,229
William Blair & Company, LLC 9 $ 210,132,024
Lazard 9 $ 191,644,990
Craig-Hallum Capital Group LLC 9 $ 155,187,889
Aegis Capital Corporation 8 $ 45,864,345
Robert W. Baird & Co. 7 $ 357,164,890
Needham & Company, LLC 7 $ 274,915,378
Stifel Nicolaus Weisel 7 $ 226,418,066
RS Platou Markets AS 6 $ 925,490,551
Leerink Swann, LLC 6 $ 561,597,575
Brean Capital, LLC 6 $ 99,635,796
JMP Securities LLC 5 $ 1,060,979,990
Wedbush PacGrow Life Sciences 5 $ 145,213,848
National Securities Corporation 5 $ 76,852,870
Maxim Group LLC 5 $ 52,329,296
H.C. Wainwright & Co., LLC 5 $ 36,255,252
GVC Capital LLC 5 $ 26,627,506
Evercore Partners Inc. 4 $ 800,037,220
DVB Capital Markets 4 $ 460,453,351
Global Hunter Securities, LLC 4 $ 421,453,351

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 7/08/13.

The First Half 2013 U.S. Healthcare PIPE Market Investment Banking League Table

By Number of Transactions:

Placement Agent Name Transaction Count Total Amount Placed
Cowen and Company, LLC 11 $ 701,669,318
Ladenburg Thalmann & Co., Inc. 11 $ 395,068,877
Dawson James Securities, Inc. 11 $ 64,604,006
Jefferies & Company, Inc. 9 $ 962,391,764
Canaccord Genuity Inc. (US) 7 $ 359,282,354
Roth Capital Partners, LLC 7 $ 184,630,058
Leerink Swann, LLC 6 $ 561,597,575
William Blair & Company, LLC 6 $ 125,492,028
Stifel Nicolaus Weisel 5 $ 179,253,066
Wedbush PacGrow Life Sciences 5 $ 145,213,848
Robert W. Baird & Co. 4 $ 194,668,390
Lazard 4 $ 79,449,999
Craig-Hallum Capital Group LLC 4 $ 32,381,500
Aegis Capital Corporation 4 $ 27,958,750
Needham & Company, LLC 3 $ 195,317,566
JMP Securities LLC 3 $ 160,980,002
SunTrust Robinson Humphrey, Inc. 3 $ 160,444,566
Brean Capital, LLC 3 $ 55,579,296
H.C. Wainwright & Co., LLC 3 $ 31,835,252
Burrill & Company 3 $ 21,289,988
J.P. Morgan Chase & Co. 2 $ 406,064,264
Cantor Fitzgerald & Company 2 $ 69,540,000
Piper Jaffray & Co. 2 $ 60,972,813
Chardan Capital Markets 2 $ 53,149,999
Oppenheimer & Co. Inc. 2 $ 51,099,920

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 7/08/13.

The First Half 2013 U.S. PIPE Market Investment Banking League Table

By Total Amount Placed:

Placement Agent Name Transaction Count Total Amount Placed
Jefferies & Company, Inc. 9 $ 962,391,764
Cowen and Company, LLC 11 $ 701,669,318
Leerink Swann, LLC 6 $ 561,597,575
J.P. Morgan Chase & Co. 2 $ 406,064,264
Ladenburg Thalmann & Co., Inc. 11 $ 395,068,877
Canaccord Genuity Inc. (US) 7 $ 359,282,354
BMO Capital Markets Corp. 1 $ 323,201,903
RBC Capital Markets, Inc. 1 $ 323,201,903
UBS Securities LLC 1 $ 323,201,903
Needham & Company, LLC 3 $ 195,317,566
Robert W. Baird & Co. 4 $ 194,668,390
Roth Capital Partners, LLC 7 $ 184,630,058
Stifel Nicolaus Weisel 5 $ 179,253,066
JMP Securities LLC 3 $ 160,980,002
SunTrust Robinson Humphrey, Inc. 3 $ 160,444,566
Wedbush PacGrow Life Sciences 5 $ 145,213,848
William Blair & Company, LLC 6 $ 125,492,028
Lazard 4 $ 79,449,999
Cantor Fitzgerald & Company 2 $ 69,540,000
Mizuho Securities Co., Limited 1 $ 67,925,000
Dawson James Securities, Inc. 11 $ 64,604,006
Piper Jaffray & Co. 2 $ 60,972,813
Barclays Capital, Inc. 1 $ 57,917,566
Brean Capital, LLC 3 $ 55,579,296
Chardan Capital Markets 2 $ 53,149,999

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 7/08/13.

The First Half 2013 U.S. PIPE Market Institutional Investor League Table

By Number of Transactions:

Investor Name Transaction Count Total Amount Invested
Sabby Management, LLC 21 $ 28,612,000
Millennium Management, LLC 20 $ 7,550,000
Heights Capital Management, Inc. 12 $ 12,444,000
Fidelity Management & Research Corporation 12 $ 5,018,976
AWM Investment Management (MGP Advisors, LLC) 11 $ 14,040,000
UBS O'Connor LLC 10 Not Disclosed
Deerfield Management 9 $ 36,499,995
Hudson Bay Capital Management L.P. 9 $ 17,243,654
RA Capital Management, LLC 9 $ 10,799,989
Pine River Capital Management, LLC 7 $ 15,075,000
Empery Asset Management LP 7 $ 8,189,291
LH Financial Services Corporation 7 $ 5,900,003
Wellington Management Company LLP 7 $ 2,537,343
Citadel Advisors, LLC 7 $ 10,000
Morgan Stanley 7 Not Disclosed
Perkins Capital Management, Inc. 7 Not Disclosed
Hercules Tech. Growth Capital, Inc. (NASDAQ: HTGC) 6 $ 80,000,000
William Blair & Company, LLC 6 $ 7,234,500
Downsview Capital, Inc. 6 $ 4,007,983
DAFNA Capital Management, LLC 6 $ 399,996
Broadfin Capital, LLC 6 Not Disclosed
Socius Capital Group, LLC 5 $ 29,000,149
Baker Brothers Advisors, LLC 5 $ 24,912,500
Adage Capital Partners GP, LLC 5 $ 10,499,997
Wolverine Asset Management 5 $ 9,485,476

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 7/08/13.

The First Half 2013 U.S. PIPE Market Issuer Counsel League Table

By Number of Transactions:

Legal Counsel Transaction Count Total Amount Advised
Cooley LLP 12 $ 308,959,312
Ropes & Gray 8 $ 162,801,835
Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC 7 $ 382,580,805
O'Melveny & Myers, LLP 7 $ 87,485,256
Greenberg Traurig, LLP 7 $ 37,616,250
DLA Piper 6 $ 249,579,479
Morgan, Lewis & Bockius, LLP 6 $ 83,667,238
Dorsey & Whitney, LLP 6 $ 50,219,002
Goodwin Procter, LLP 5 $ 178,927,149
Ellenoff Grossman & Schole LLP 5 $ 24,977,791
Seward & Kissel LLP 4 $ 506,132,141
K&L Gates LLP 4 $ 92,540,500
Baker, Donelson, Bearman, Caldwell & Berkowitz, PC 4 $ 87,592,021
Wyrick Robbins Yates & Ponton, LLP 4 $ 81,517,566
Troutman Sanders, LLP 4 $ 81,192,496
Sichenzia Ross Friedman Ference, LLP 4 $ 56,415,402
Duane Morris, LLP 4 $ 30,568,331
Anslow & Jaclin, LLP 4 $ 13,630,066
Proskauer Rose, LLP 3 $ 939,999,988
Jones Day 3 $ 414,527,000
Skadden, Arps, Slate, Meagher & Flom, LLP 3 $ 285,235,500
Reeder & Simpson P.C. 3 $ 130,096,196
Latham & Watkins, LLP 3 $ 113,980,995
Fulbright & Jaworski, LLP 3 $ 111,340,000
Morrison & Foerster, LLP 3 $ 50,662,046

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 7/08/13.

The First Half 2013 U.S. PIPE Market Investor Counsel League Table

By Number of Transactions:

Legal Counsel Transaction Count Total Amount Advised
Schulte Roth & Zabel, LLP 22 $ 1,213,656,387
Greenberg Traurig, LLP 8 $ 47,650,005
Vinson & Elkins, LLP 5 $ 184,903,933
Lowenstein Sandler, PC 5 $ 18,890,361
Ellenoff Grossman & Schole LLP 4 $ 14,233,336
Peter J. Weisman, PC 4 $ 12,925,000
Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC 3 $ 46,000,472
Proskauer Rose, LLP 2 $ 406,412,015
Willkie, Farr & Gallagher 2 $ 213,242,400
DLA Piper 2 $ 45,000,005
Wachtell, Lipton, Rosen & Katz 2 $ 45,000,005
Matthew M. Guest, Esq. 2 $ 45,000,005
Olshan Frome Wolosky LLP 2 $ 32,104,500
Katten Muchin Rosenman, LLP 2 $ 30,500,000
Gallant Y.T. Ho & Company 2 $ 24,510,000
O'Melveny & Myers, LLP 2 $ 20,995,500
Grushko & Mittman, PC 2 $ 5,040,000
Latham & Watkins, LLP 1 $ 364,999,970
Clifford Chance US, LLP 1 $ 209,440,000
Ropes & Gray 1 $ 135,000,000
Skadden, Arps, Slate, Meagher & Flom, LLP 1 $ 77,114,000
Andrews Kurth LLP 1 $ 59,260,000
Kirkland & Ellis 1 $ 50,000,000
Osborne Clarke S.L.P. 1 $ 41,412,045
Baker Botts, LLP 1 $ 35,000,023

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 7/08/13.

The First Half 2013 U.S. PIPE Market Placement Agent Counsel League Table

By Number of Transactions:

Legal Counsel Transaction Count Total Amount Advised
Ellenoff Grossman & Schole LLP 22 $ 123,551,504
Goodwin Procter, LLP 16 $ 252,439,775
Proskauer Rose, LLP 9 $ 471,638,915
Lowenstein Sandler, PC 5 $ 55,730,800
Latham & Watkins, LLP 4 $ 162,853,387
Cooley LLP 4 $ 137,308,335
Sichenzia Ross Friedman Ference, LLP 4 $ 20,400,000
Covington & Burling 3 $ 203,227,361
Faegre Baker Daniels LLP 3 $ 59,192,566
Morgan, Lewis & Bockius, LLP 3 $ 42,657,341
LeClairRyan, PC 3 $ 39,257,996
Morrison & Foerster, LLP 3 $ 25,500,010
Pryor Cashman Sherman & Flynn, LLP 3 $ 22,766,501
McGuireWoods, LLP 2 $ 899,999,988
Choate, Hall & Stewart, LLP 2 $ 117,961,250
Fried, Frank, Harris, Shriver & Jacobson 2 $ 110,001,255
Dechert, LLP 2 $ 89,917,566
DLA Piper 2 $ 83,647,500
Ropes & Gray 2 $ 72,466,811
Patton Boggs, LLP 2 $ 45,000,005
Loeb & Loeb, LLP 2 $ 44,399,999
K&L Gates LLP 2 $ 40,400,000
Reed Smith, LLP 2 $ 22,508,750
Davis Polk & Wardwell 1 $ 230,040,000
Godfrey & Kahn, SC 1 $ 55,840,000

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 7/08/13.

PlacementTracker, a flagship product of Sagient Research Systems, is well recognized as the leading provider of research, data, and analytics covering the PIPE market. 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.

CONTACT: Mike Kotecki (858) 200-2370

Source: Sagient Research Systems