NEW YORK, July 20, 2017 /PRNewswire/ -- The Deal (a
business unit of TheStreet, Inc., NASDAQ: TST) issued its
quarterly PIPE League Tables today, revealing that the second
quarter of 2017 saw 339 deals, raising $19.14 billion. The quarter was down from the
comparable period last year, when the same number of deals yielded
almost $24 billion after a rebound in
oil prices sent energy companies roaring back into the market. Data
is sourced from PrivateRaise, a service of The Deal, which tracks
PIPEs that raise at least $1 million.
Although the $19 billion raised in
the recent quarter did not quite reach the previous quarter's
number, the period's political uncertainty stimulated structuring
of at-the-market deals, which allow companies to set up quick
equity financing to manage unforeseen events.
"Few quarters have topped the $19
billion mark since PrivateRaise began tracking this data in
2001," said Paul Springer, senior reporter at The Deal. "The
PIPEs market continues to serve the needs of small cap companies
like biotechs that face a long road to profitability."
Some highlights from the report:
- Heights Capital Management, Inc. and Empery Asset Management LP
tied for the top-ranked investor in the second quarter by
number of investments, with five deals each. Perceptive
Advisors, LLC, TPG Capital, and Sabby Management, LLC tied for
third, with four deals each.
- H.C. Wainwright &
Co. was the top-ranked placement agent in the second
quarter by number of placements, with 22 deals for the
quarter. Canaccord Genuity Group Inc. and Maxim
Group LLC tied for second, with 10 each.
- Latham & Watkins LLP was the top-ranked issuer legal
counsel with 11 placements advised. Cooley LLP came in second with
10. Goodwin Procter LLP came in third with eight placements
advised.
- Kirkland & Ellis LLP was the top-ranked investor legal
counsel, with eight placements advised. Kelley Drye &
Warren LLP came in second with five. Ellenoff Grossman &
Schole LLP ranked third, with four placements advised.
- Ellenoff Grossman & Schole LLP was the top-ranked
agent legal counsel with 14 placements advised. Covington
& Burling LLP ranked second with seven placements
advised. Latham & Watkins LLP came in third 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), an unbiased source of
business news and market analysis for investors; BoardEx
(www.boardex.com), a 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
View original content with
multimedia:http://www.prnewswire.com/news-releases/q2-pipe-market-slows-slightly-hovering-at-the-20b-mark-as-heights-capital-latham--watkins-kirkland--ellis-lead-way-300491497.html
SOURCE TheStreet, Inc.