PlacementTracker Publishes First Half 2017 PIPE Market League Tables
NEW YORK, July 12, 2017 /PRNewswire/ -- 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 the first half of 2017.
A total of $15 billion was raised in 457 transactions through the first half of 2017. Of this amount, 7 transactions totaling $25 million have been announced but not yet closed as of 07/10/2017. Deal volume is down 2.8% (469 deals in H1 2016) but dollar volume decreased a massive 44% ($27B in H1 2016).
We congratulate all of the active members of the PIPE community, many of whom are long-time clients of PlacementTracker. 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
- Heights Capital Management, Sabby Management, LLC, and Hudson Bay Capital Management as the most active institutional investors
- Cooley LP 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
- Cantor Fitzgerald & Company as most active sales agent
The First Half of 2017 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 |
42 |
$836,517,787 |
| Roth Capital Partners, LLC |
21 |
$365,011,548 |
| Maxim Group LLC |
21 |
$213,904,436 |
| Sandler O'Neill & Partners, L.P. |
15 |
$833,178,269 |
| Jefferies & Company, Inc. |
15 |
$819,820,652 |
| Cantor Fitzgerald & Company |
14 |
$1,032,263,921 |
| Raymond James & Associates Inc. |
14 |
$693,670,038 |
| Aegis Capital Corporation |
14 |
$191,035,915 |
| Canaccord Genuity Inc. (US) |
11 |
$474,958,124 |
| Ladenburg Thalmann & Co., Inc. |
11 |
$246,248,512 |
| Cowen and Company, LLC |
10 |
$439,350,578 |
| Chardan Capital Markets |
10 |
$108,018,869 |
| Keefe, Bruyette & Woods, Inc. |
9 |
$493,475,660 |
| Needham & Company, LLC |
8 |
$239,314,328 |
| Oppenheimer & Co. Inc. |
8 |
$204,980,168 |
| J.P. Morgan Chase & Co. |
7 |
$1,401,804,940 |
| Piper Jaffray & Co. |
7 |
$456,993,423 |
| JMP Securities LLC |
7 |
$426,078,637 |
| Craig-Hallum Capital Group LLC |
7 |
$124,633,825 |
| Laidlaw & Company (UK) Ltd. |
7 |
$44,265,958 |
| B. Riley & Co. |
6 |
$158,255,222 |
| Joseph Gunnar & Company, LLC |
6 |
$116,622,075 |
| Stephens Inc. |
5 |
$403,650,684 |
| Dawson James Securities, Inc. |
5 |
$25,087,293 |
| Barclays Capital, Inc. |
4 |
$1,029,500,600 |
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. 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 07/10/17.
The First Half of 2017 U.S. PIPE Market
Institutional Investor League Table by Number of Transactions:
| Investor Name |
Transaction Count |
Total Amount Invested |
| Heights Capital Management, Inc. |
9 |
$20,926,757 |
| Sabby Management, LLC |
9 |
$20,170,533 |
| Hudson Bay Capital Management L.P. |
9 |
$12,106,367 |
| IntraCoastal Capital, LLC |
7 |
$3,010,149 |
| Empery Asset Management LP |
6 |
$7,558,982 |
| AWM Investment Management (MGP Advisors, LLC) |
5 |
$6,696,183 |
| Anson Capital, LP |
5 |
$2,953,130 |
| Lincoln Park Capital |
5 |
$1,871,923 |
| Elliott Management Corporation |
4 |
$540,500,000 |
| Baker Brothers Advisors, LLC |
4 |
$39,034,020 |
| Perceptive Advisors, LLC |
4 |
$16,060,810 |
| Armistice Capital Master Fund Limited |
4 |
$14,217,449 |
| Kingsbrook Partners, LP |
4 |
$989,913 |
| Iroquois Capital L.P. |
4 |
$929,810 |
| Blackrock, Inc. |
3 |
$427,099,355 |
| Ares Management L.P. (NYSE: ARES) |
3 |
$195,010,000 |
| Froley Revy Investment Company, Inc. |
3 |
$50,000,000 |
| Alyeska Investment Group, L.P. |
3 |
$14,707,570 |
| Kalani Investments Limited |
3 |
$13,700,000 |
| Cormorant Asset Management, LLC |
3 |
$13,049,993 |
| Adage Capital Partners GP, LLC |
3 |
$10,893,994 |
| Broadfin Capital, LLC |
3 |
$7,221,980 |
| Highland Capital Management, L.P. |
3 |
$5,593,011 |
| Wellington Management Company LLP |
3 |
$1,756,015 |
| Porter Capital Management Company |
3 |
$1,677,405 |
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. 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 07/10/17.
The First Half of 2017 U.S. PIPE Market
Issuer Counsel League Table by Number of Transactions:
| Legal Counsel |
Transaction Count |
Total Amount Advised |
|
| Cooley LLP |
14 |
$606,171,936 |
|
| Latham & Watkins, LLP |
12 |
$1,025,844,656 |
|
| Sichenzia Ross Ference Kesner LLP |
12 |
$57,633,330 |
|
| Goodwin Procter, LLP |
10 |
$473,762,283 |
|
| Fenwick & West, LLP |
9 |
$256,715,602 |
|
| Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC |
7 |
$251,968,154 |
|
| Sidley Austin LLP |
6 |
$707,745,938 |
|
| Greenberg Traurig, LLP |
6 |
$546,008,004 |
|
| DLA Piper |
6 |
$228,749,997 |
|
| Wilson Sonsini Goodrich & Rosati |
6 |
$220,712,498 |
|
| Seward & Kissel LLP |
6 |
$141,275,003 |
|
| Wilmer Cutler Pickering Hale & Dorr, LLP |
6 |
$124,999,979 |
|
| Hogan Lovells |
6 |
$120,159,980 |
|
| Morgan, Lewis & Bockius, LLP |
6 |
$92,494,001 |
|
| Paul Hastings LLP |
5 |
$179,798,293 |
|
| Sheppard, Mullin, Richter & Hampton, LLP |
5 |
$155,900,014 |
|
| Dechert, LLP |
5 |
$92,911,285 |
|
| Alston & Bird, LLP |
4 |
$313,752,064 |
|
| Troutman Sanders, LLP |
4 |
$84,273,108 |
|
| K&L Gates LLP |
4 |
$46,949,409 |
|
| Vinson & Elkins, LLP |
3 |
$214,999,978 |
|
| Lowenstein Sandler LLP |
3 |
$61,214,709 |
|
| Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP |
3 |
$56,154,998 |
|
| Davis Polk & Wardwell LLP |
3 |
$50,739,993 |
|
| Morrison & Foerster, LLP |
3 |
$39,144,055 |
|
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. Data is for closed and definitive agreement transactions reported as of 07/10/17.
The First Half of 2017 U.S. PIPE Market
Investor Counsel League Table by Number of Transactions:
| Legal Counsel |
Transaction Count |
Total Amount Advised |
|||||
| Schulte Roth & Zabel, LLP |
33 |
$1,075,580,070 |
|||||
| Kelley Drye & Warren LLP |
19 |
$733,451,787 |
|||||
| Debevoise & Plimpton, LLP |
4 |
$540,500,000 |
|||||
| Kirkland & Ellis |
4 |
$490,000,000 |
|||||
| Ellenoff Grossman & Schole LLP |
4 |
$22,064,000 |
|||||
| Skadden, Arps, Slate, Meagher & Flom, LLP |
3 |
$283,748,000 |
|||||
| King & Wood, LLP |
2 |
$273,100,000 |
|||||
| Greenberg Traurig, LLP |
2 |
$125,000,000 |
|||||
| Sullivan & Cromwell |
2 |
$94,700,000 |
|||||
| White & Case, LLP |
2 |
$49,549,998 |
|||||
| Gibson, Dunn & Crutcher, LLP |
2 |
$24,998,090 |
|||||
| Peter J. Weisman, PC |
2 |
$9,714,915 |
|||||
| Sichenzia Ross Ference Kesner LLP |
2 |
$2,242,000 |
|||||
| Andrews Kurth Kenyon, LLP |
1 |
$300,000,000 |
|||||
| Jones Day |
1 |
$172,500,000 |
|||||
| Simpson Thacher Bartlett, LLP |
1 |
$172,500,000 |
|||||
| Paul, Weiss, Rifkind, Wharton & Garrison |
1 |
$150,000,000 |
|||||
| Davis Polk & Wardwell |
1 |
$108,000,000 |
|||||
| Fried, Frank, Harris, Shriver & Jacobson |
1 |
$95,000,000 |
|||||
| Ropes & Gray |
1 |
$70,000,000 |
|||||
| Foley Hoag, LLP |
1 |
$31,500,002 |
|||||
| Shearman & Sterling LLP |
1 |
$30,000,000 |
|||||
| Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC |
1 |
$7,700,000 |
|||||
| Kilpatrick Townsend & Stockton LLP |
1 |
$7,400,000 |
|||||
| Akin, Gump, Strauss, Hauer & Feld, LLP |
1 |
$5,070,780 |
|||||
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. Data is for closed and definitive agreement transactions reported as of 07/10/17.
The First Half of 2017 U.S. PIPE Market
Placement Agent Counsel League Table by Number of Transactions:
| Legal Counsel |
Transaction Count |
Total Amount Advised |
| Ellenoff Grossman & Schole LLP |
28 |
$193,725,961 |
| Cooley LLP |
13 |
$702,437,504 |
| Covington & Burling |
11 |
$657,600,670 |
| Goodwin Procter, LLP |
10 |
$421,196,852 |
| Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC |
9 |
$146,266,177 |
| Latham & Watkins, LLP |
8 |
$453,708,215 |
| Sichenzia Ross Ference Kesner LLP |
6 |
$36,844,146 |
| Sheppard, Mullin, Richter & Hampton, LLP |
5 |
$24,401,000 |
| Proskauer Rose, LLP |
4 |
$100,345,001 |
| Pillsbury, Winthrop, Shaw & Pittman, LLP |
3 |
$97,999,998 |
| Dechert, LLP |
3 |
$54,785,642 |
| Stikeman Elliott LLP |
2 |
$199,100,004 |
| Davis Polk & Wardwell LLP |
2 |
$110,380,625 |
| Alston & Bird, LLP |
2 |
$77,925,008 |
| DLA Piper |
2 |
$50,003,498 |
| Duane Morris, LLP |
2 |
$21,500,001 |
| Loeb & Loeb, LLP |
2 |
$18,430,022 |
| Schiff Hardin, LLP |
2 |
$14,470,001 |
| Zysman Aharoni Gayer and Sullivan & Worcester LLP |
2 |
$7,112,500 |
| Carmel, Milazzo & DiChiara LLP |
2 |
$2,359,240 |
| Skadden, Arps, Slate, Meagher & Flom, LLP |
1 |
$160,000,305 |
| Sullivan & Cromwell |
1 |
$86,293,125 |
| Luse Gorman, PC |
1 |
$86,293,125 |
| Vinson & Elkins, LLP |
1 |
$69,000,000 |
| Bennett Jones, LLP |
1 |
$69,000,000 |
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 OTC. Data is for closed and definitive agreement transactions reported as of 07/10/17.
The First Half of 2017 U.S. ATM Market
Sales Agent by Number of Transactions:
| Sales Agent |
Transaction Count |
Commitment Amount |
| Cantor Fitzgerald & Company |
28 |
$2,776,955,000 |
| Bank of America Merrill Lynch |
23 |
$8,596,151,030 |
| FBR Capital Markets |
22 |
$1,762,140,000 |
| Jefferies & Company, Inc. |
20 |
$6,509,761,030 |
| Wells Fargo Securities, LLC |
19 |
$7,375,000,000 |
| RBC Capital Markets, Inc. |
19 |
$6,460,860,000 |
| Raymond James & Associates Inc. |
18 |
$3,333,720,280 |
| J.P. Morgan Chase & Co. |
14 |
$6,590,600,000 |
| Citigroup Global Markets, Inc. |
14 |
$3,650,219,250 |
| Morgan Stanley |
12 |
$6,040,600,000 |
| Robert W. Baird & Co. |
12 |
$2,127,519,250 |
| Cowen and Company, LLC |
12 |
$600,000,000 |
| SunTrust Robinson Humphrey, Inc. |
11 |
$3,040,000,000 |
| Goldman, Sachs & Co. |
10 |
$4,452,300,000 |
| Deutsche Bank Securities, Inc. |
10 |
$3,250,000,000 |
| BMO Capital Markets Corp. |
9 |
$2,800,000,000 |
| Credit Suisse Securities (USA) LLC |
9 |
$2,615,600,000 |
| JMP Securities LLC |
9 |
$1,002,143,000 |
| Mitsubishi UFJ Securities (USA), Inc. |
8 |
$3,175,000,000 |
| Barclays Capital, Inc. |
8 |
$3,133,560,000 |
| KeyBanc Capital Markets |
8 |
$2,350,000,000 |
| Ladenburg Thalmann & Co., Inc. |
8 |
$1,097,983,000 |
| H.C. Wainwright & Co., LLC |
8 |
$394,944,000 |
| JonesTrading Institutional Services LLC |
8 |
$368,511,700 |
| BB&T Capital Markets |
7 |
$2,257,300,000 |
Sales Agent rankings includes At the Market transactions only. Data is for closed and definitive agreement transactions reported as of 07/10/2017.
The First Half of 2017 U.S. ATM Market
Sales Agent by Commitment Amount:
| Sales Agent |
Transaction Count |
Commitment Amount |
| Bank of America Merrill Lynch |
23 |
$8,596,151,030 |
| Wells Fargo Securities, LLC |
19 |
$7,375,000,000 |
| J.P. Morgan Chase & Co. |
14 |
$6,590,600,000 |
| Jefferies & Company, Inc. |
20 |
$6,509,761,030 |
| RBC Capital Markets, Inc. |
19 |
$6,460,860,000 |
| Morgan Stanley |
12 |
$6,040,600,000 |
| Goldman, Sachs & Co. |
10 |
$4,452,300,000 |
| Citigroup Global Markets, Inc. |
14 |
$3,650,219,250 |
| Raymond James & Associates Inc. |
18 |
$3,333,720,280 |
| Deutsche Bank Securities, Inc. |
10 |
$3,250,000,000 |
| Mitsubishi UFJ Securities (USA), Inc. |
8 |
$3,175,000,000 |
| Barclays Capital, Inc. |
8 |
$3,133,560,000 |
| SunTrust Robinson Humphrey, Inc. |
11 |
$3,040,000,000 |
| BMO Capital Markets Corp. |
9 |
$2,800,000,000 |
| Cantor Fitzgerald & Company |
28 |
$2,776,955,000 |
| Credit Suisse Securities (USA) LLC |
9 |
$2,615,600,000 |
| Mizuho Securities Co., Limited |
5 |
$2,575,000,000 |
| TD Securities (USA) Inc. |
4 |
$2,575,000,000 |
| KeyBanc Capital Markets |
8 |
$2,350,000,000 |
| BB&T Capital Markets |
7 |
$2,257,300,000 |
| Capital One Securities |
7 |
$2,150,000,000 |
| Robert W. Baird & Co. |
12 |
$2,127,519,250 |
| Stifel Nicolaus Weisel |
7 |
$2,025,000,000 |
| Fifth Third Bank |
4 |
$1,800,000,000 |
| FBR Capital Markets |
22 |
$1,762,140,000 |
Sales Agent rankings includes At the Market transactions only. Data is for closed and definitive agreement transactions reported as of 07/10/2017.
Complimentary July Issue of PlacementTracker Journal
Imagine having deep insight into the Private Investment in Public Equity (PIPE) market and private placement activity segments of the capital markets on a monthly basis.
With PlacementTracker Journal, you can monitor deal flow, see league tables, and gain unique prospective and insights of the U.S. Equities Market, as it pertains to private placement financings. PlacementTracker Journal also provides tailored broad market commentary and expert analysis of individual deals.
PlacementTracker invites you to download a free copy of their monthly newsletter, PlacementTracker Journal.
If you have already registered, proceed to the download page and log-in to access the most recent issue. If you have not previously registered, simply:
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Please contact our team for further information, or to discuss purchasing the PlacementTracker Journal.
About PlacementTracker
PlacementTracker, part of the Business Intelligence Division of Informa PLC, is well recognized as the leading provider of research, data, and analytics covering the PIPE market and other capital raising methods. PlacementTracker's dynamically updated League Tables are available online at: http://www.placementtracker.com/leaguetables.cfm.
About Informa Financial Intelligence
Financial Intelligence, part of the Business Intelligence Division of Informa plc, is a leading provider of critical decision-making solutions and custom services to financial institutions. From the big picture to the smallest detail, Informa Financial Intelligence's leading-edge financial information and decision-making products provide specialized industry research, intelligence, and insight. For more information, please visit https://financialintelligence.informa.com.
Company Contact:
Suzanne Chaves
(617) 722-4622
[email protected]
www.PlacementTracker.com
SOURCE PlacementTracker
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