SAN DIEGO, Oct. 26, 2004 (PRIMEZONE) -- Sagient Research Systems (OTCBB:SRYS), a leading publisher of independent research for the financial services and institutional investment communities, today announced that Roth Capital Partners, LLC ranked as the No. 1 investment bank in the PIPE market in the third quarter of 2004 for total number of transactions and that UBS Investment Bank ranked as the No. 1 investment bank in the PIPE market in the third quarter of 2004 for total dollars raised. Laurus Funds topped the list of most active institutional investors during the third quarter of 2004.
PlacementTracker, a flagship product of Sagient Research Systems, is well recognized as the leading provider of research, data, and analytics covering the PIPE market.
Commenting on the League Tables, Robert F. Kyle, executive vice president of Sagient Research said, "A slowing in PIPE market activity that started in the second quarter continued in the third quarter of 2004. We believe that the weakness and low liquidity in the general market were the main catalysts for the decreased activity. In addition, pending regulatory action and uncertainty surrounding the upcoming presidential election may have contributed to the slowdown. In response to these conditions, we also took note of a slight up-tick in the issuance of Structured PIPEs (PIPEs that involve some degree of contractual price protection). Overall, we expect that 2004 will finish strong in the PIPE market and propel us to near-record levels for completed transactions. As always, we congratulate all of the active agents and investors in the PIPE market for their third quarter performance, especially those leaders who topped the League Tables. Many of these firms are long-time clients of PlacementTracker, and we look forward to continuing to provide them with industry leading data, research, and analytics to help keep them on top of this market."
PlacementTracker's dynamically updating League Tables are now available online at: http://www.sagientresearch.com/pt/leaguetables.cfm.
The Q3 2004 PIPE Market Investment Banking League Table
By Dollar Amount Raised:
Placement Agent Name Transaction Count Total Amount Raised
UBS Investment Bank 1 $92,016,994
CIBC World Markets 2 $84,371,988
Lazard Freres & Co.,
LLC. 2 $73,344,985
Banc of America
Securities, LLC. 3 $53,345,000
Roth Capital
Partners, LLC. 7 $52,485,481
SG Cowen & Co., LLC. 2 $41,491,419
Aton Securities, Inc. 2 $40,837,360
The Kriegsman Group 1 $40,000,000
The Shemano Group, Inc. 4 $36,500,000
Tejas Securities Group,
Inc. 1 $31,500,000
Rodman & Renshaw, LLC. 3 $30,750,000
ThinkEquity Partners 1 $27,507,970
Burnham Hill Partners 3 $26,139,042
C.E. Unterberg, Towbin 2 $21,679,870
Carnegie ASA 1 $21,654,960
Enskilda Securities ASA 1 $21,654,960
Fearnley Fonds ASA 1 $21,654,960
Credifinance Securities
Limited 1 $18,337,360
Cohen & Steers Capital
Advisors 1 $17,750,000
Harris Nesbitt Corp. 1 $16,749,999
Morgan Keegan & Company,
Inc. 2 $16,383,903
HPC Capital Management
Corporation 3 $15,300,000
RBC Capital Markets,
Inc. 1 $15,082,999
Lane Capital Markets,
LLC. 1 $15,000,000
Pritchard Capital
Partners, LLC. 2 $14,640,000
Investment Banking rankings exclude all Equity Line of Credit
transactions and all PIPE transactions conducted by Canadian
domiciled issuers. 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 as reported as of
10/26/04.
The Q3 2004 PIPE Market Investment Banking League Table
By Number of Transactions:
Placement Agent Name Transaction Count Total Amount Raised
Roth Capital Partners,LLC. 7 $52,485,481
The Shemano Group,Inc. 4 $36,500,000
Ascendiant Securities,LLC. 4 $14,200,000
H. C. Wainwright & Co.,Inc. 4 $ 5,985,000
Banc of America Securities,
LLC. 3 $53,345,000
Rodman & Renshaw,LLC. 3 $30,750,000
Burnham Hill Partners 3 $26,139,042
HPC Capital Management
Corporation 3 $15,300,000
JPC CapitalPartners,Inc. 3 $11,850,000
Jesup & Lamont
Securities Corporation 3 $11,777,650
Sands Brothers & Co.,Ltd. 3 $ 7,339,900
Casimir Capital L.P. 3 $ 6,694,550
Duncan Capital,LLC. 3 $ 4,492,375
CIBC World Markets 2 $84,371,988
Lazard Freres & Co.,LLC. 2 $73,344,985
SG Cowen & Co.,LLC. 2 $41,491,419
Aton Securities,Inc. 2 $40,837,360
C.E. Unterberg, Towbin 2 $21,679,870
Morgan Keegan & Company,
Inc. 2 $16,383,903
Pritchard Capital
Partners,LLC. 2 $14,640,000
William Blair & Company
,LLC. 2 $14,305,050
Burnham Securities 2 $ 9,000,000
Olympus Securities,LLC. 2 $ 5,880,000
J.P. Turner & Co. 2 $ 4,650,001
C.K. Cooper & Co.,Inc. 2 $ 4,080,000
Investment Banking rankings exclude all Equity Line of Credit transactions
and all PIPE transactions conducted by Canadian domiciled issuers. 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 as reported as of 10/26/04.
The Q3 2004 PIPE Market Institutional Investor League Table
By Number of Transactions:
Investor Name Transaction Count Total Amount Invested
Laurus Funds 18 $70,750,000
Highbridge International,
LLC 13 $28,471,657
Vertical Ventures
Investments,LLC 12 $ 7,074,985
Ramius Capital Group,LLC 10 $16,539,774
DKR Management Company,
Inc 10 $ 8,449,965
Kingsport Capital
Partners,LLC 9 $13,250,000
Bristol Capital
Advisors,LLC 9 $ 6,733,875
LH Financial Services
Corporation 8 $ 3,699,999
Omicron Capital,LP 8 $ 8,829,988
SRG Capital,LLC 8 $ 1,744,999
Millennium Management,
LLC 7 $28,600,001
Canaccord Capital
Corporation 7 $ 3,899,750
GreenLight(Switzerland)
SA 7 $ 2,586,000
The Mercator Group 6 $17,150,000
NIR Group,LLC 6 $ 8,125,000
BayStar Capital,LP 6 $ 7,549,985
Heights Capital
Management,Inc 5 $ 5,312,100
GSSF Master Fund, LP. 5 $ 2,600,002
Andrew Carter Capital, Inc 5 $ 649,999
Pequot Capital
Management,Inc 4 $21,850,725
Staro Asset Management,
LLC 4 $ 9,999,400
Balyasny Asset
Management,LP 4 $ 7,160,023
Bluegrass Growth Fund
Partners 4 $ 3,149,728
Ram Capital Resources,
LLC 4 $ 1,303,976
Downsview Capital,Inc 4 $ 1,299,999
Investor rankings exclude all Equity Line of Credit transactions and
all PIPE transactions conducted by Canadian domiciled issuers.
Investors classified as Corporate Investors and Insurance Companies
have been excluded from this ranking. Data is as reported as of
10/26/04.
About Sagient Research Systems
Sagient Research Systems is a publisher of independent research. We develop, produce, and sell proprietary research products to mutual funds, hedge funds, and investment banks. Our business strategy is to continue to leverage our development, technology, and marketing expertise to solidify our position as a leading provider of independent research to the financial services and institutional investment communities. For more information, please visit the Sagient Research Systems website at www.sagientresearch.com.
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