NEW YORK, Oct. 13, 2016 /PRNewswire/ -- The Deal (a
business unit of TheStreet, Inc. (NASDAQ: TST)) issued its
quarterly PIPEs Report today showing a 38% increase in dollar
volume over the same quarter last year in the
private-investment-in-public-equity financing market. Data is
sourced from PrivateRaise, a service of The Deal, which tracks
PIPEs that raise at least $1 million.
"PIPE financings accounted for more than $20 billion raised for the second straight
quarter," said Paul Springer, senior reporter at The Deal.
"These offerings continue to generate capital in October, however
political and economic uncertainties could lead to volatility
that slows dealmaking as the fourth quarter comes to a close.
Much of the increase in dollar value derived from a substantial
increase in at-the-market or ATM offerings, which companies
establish to smooth the capital raising process at a later
date."
Some highlights from the report:
- Some 325 third-quarter PIPE deals represented a nearly 30%
increase over the deal flow from the comparable period in
2015.
- The quarter fell shy of the second-quarter's 346 deals and
$24.27 billion in capital.
- The $23 billion plus quarter was
one of four quarters since 2008 that exceeded $20 billion.
- Sabby Management LLC was the top-ranked investor in the
first quarter by number of investments, with 11 deals. Heights
Capital Management Inc. ranked second, with nine deals. Empery
Asset Management LP ranked third, with seven deals.
- H.C. Wainwright &
Co. was the top-ranked placement agent in the first quarter by
number of placements, with 20 deals for the quarter. Maxim
Group LLC ranked second, with 12. Roth Capital Partners
LLC ranked third, with 10. Cowen and Company LLC and
Piper Jaffray and Company ranked
fourth, with nine deals.
The full report is available online. For more information
on The 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), a relationship mapping
service of corporate directors and officers; and RateWatch
(www.ratewatch.com), which supplies rate and fee data from banks
and credit unions across the U.S.
Contact: Jon Kostakopoulos,
TheStreet, Inc., 212-321-5561, Jon
Kostakopoulos at thestreet.com
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SOURCE TheStreet, Inc.