NEW YORK, April 20, 2017 /PRNewswire/ -- The Deal (a
business unit of TheStreet, Inc., NASDAQ: TST) issued its
quarterly PIPE league tables today, revealing that 2017's first quarter outperformed last
year's first quarter. Deals were up nearly 75% from the previous
year to 367, while dollars raised were up almost 70% to
$21.3 billion. Data is sourced from
PrivateRaise, a service of The Deal, which tracks PIPEs that raise
at least $1 million.
"The PIPEs market continued to thrive in the first quarter,
trouncing the same period last year and edging out the last quarter
of 2016 as one of the few quarters on record that generated more
than $21 billion in deals,"
said Paul Springer, senior reporter at The Deal. "As the year
unfolds, expect to see more activity among small cap energy
companies and more restructuring of existing deals to reduce
warrant overhang and derivative liabilities that can distort
financial results and scare off new investors."
Some highlights from the report:
- Q1 2017 PIPEs deals were up nearly 75% from the same time last
year
- More than $21 billion raised in
first quarter
- Sabby Management LLC was the top-ranked investor in the first
quarter by number of investments, with 10 deals. Empery Asset
Management LP and IntraCoastal Capital LLC tied for second, with
seven deals. Ares Management LP and Heights Capital Management Inc.
tied for fourth, with five deals.
- H.C. Wainwright & Co. was
the top-ranked placement agent in the first quarter by number of
placements, with 30 deals for the quarter. Roth Capital Partners
LLC and Maxim Group LLC ranked second, with 11. Cowen and Company
LLC ranked fourth, with 10 placements.
- Cooley LLP was the top-ranked issuer legal counsel with 14
placements advised. Vinson & Elkins LLP came in second with
nine. Latham & Watkins LLP, Hogan Lovells, and DLA Piper tied
for third with eight placements advised.
- Ellenoff Grossman & Schole LLP was the top-ranked investor
legal counsel, with nine placements advised. Latham & Watkins
LLP came in second with five. Gibson, Dunn & Crutcher LLP,
Schulte Roth & Zabel LLP,
Lowenstein Sandler LLP, and Grushko & Mittman PC tied for
third, with three placements advised.
- Ellenoff Grossman & Schole LLP was the top-ranked agent
legal counsel with 20 placements
advised. Goodwin Procter LLP and Mintz, Levin, Cohn, Ferris,
Glovsky and Popeo PC tied for second with seven placements advised.
Latham & Watkins LLP came in fourth with six placements
advised.
The full article is available online. For more
information on The Deal's PIPEs Report and PrivateRaise,
visit http://www.thedeal.com/the-deal/the-pipes-report/ and www.privateraise.com.
About The Deal
The Deal (www.thedeal.com)
provides actionable, intraday coverage of mergers, acquisitions and
all other changes in corporate control to institutional investors,
private equity, hedge funds and the firms that serve them. The Deal
is a business unit of TheStreet, Inc. (NASDAQ:
TST, www.t.st), a leading financial news and information
provider. Other business units include TheStreet
(www.thestreet.com), which is celebrating its
20th year of producing unbiased business news and
market analysis; BoardEx (www.boardex.com), the leading
relationship mapping service of corporate directors and officers;
and RateWatch (www.rate-watch.com) which supplies rate and fee data
from banks and credit unions across the U.S.
Contact: Jon Kostakopoulos,
212-321-5561, jon.kostakopoulos at thestreet.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/2017-q1-pipes-market-eclipses-last-years-first-quarter-300442852.html
SOURCE TheStreet, Inc.