PlacementTracker Publishes 2015 PIPE Market League Tables
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 Miller | 4 | $ | 18,365,447 | |
| DLA Piper | 3 | $ | 88,638,414 | |
| Gibson, Dunn & Crutcher, LLP | 3 | $ | 74,247,306 | |
| Nelson Mullins Riley & Scarborough, LLP | 3 | $ | 55,412,500 | |
| Reed Smith, LLP | 3 | $ | 48,165,250 | |
| Duane Morris, LLP | 3 | $ | 12,894,348 | |
| Dechert, LLP | 2 | $ | 133,408,625 | |
| Morgan, Lewis & Bockius, LLP | 2 | $ | 84,999,997 | |
| Choate, Hall & Stewart, LLP | 2 | $ | 55,820,900 | |
| Torys, LLP | 2 | $ | 37,374,997 | |
| Holland & Knight, LLP | 2 | $ | 36,600,000 | |
| Loeb & Loeb, LLP | 2 | $ | 35,467,750 | |
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.
About PlacementTracker
PlacementTracker, a product of Sagient Research Systems, is well recognized as the leading provider of research, data, and analytics covering the PIPE market. PlacementTracker's dynamically updated 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.
Company Contact: Greg Hill 212-907-5884 ###
