NEW YORK, Aug. 9, 2006 (PRIMEZONE) -- Sichenzia Ross Friedman Ference LLP is once again ranked the number one PIPE issuer law firm year-to-date in 2006, making it No. 1 for the 27th consecutive month. This comes on the heels of the firm's ranking as the most active PIPE issuer law firm in both 2004 and 2005. As of August 1st, the firm has been credited with representing 39 issuers in over $165 million of PIPEs transactions, averaging $4.23 million per transaction. For the same period last year the firm represented 28 issuers in over $96 million of PIPEs transactions, averaging $3.44 million per transaction. The 2006 numbers represent an increase of 16 percent in the number of transactions and of more than 42 percent in the total dollars raised on behalf of their clients.
"We continue to see remarkable growth in PIPEs in part because they are no longer considered a fringe financing mechanism and are attracting larger companies into this financing arena," said Gregory Sichenzia, founding partner of Sichenzia Ross Friedman Ference LLP. "Our firm has capitalized on the trend towards larger PIPE deals by increasing our average deal size by more than 30 percent. Still, even with the larger PIPE deals, our firm remains dedicated to helping micro-cap companies raise the funding they need and we continue to provide clients of all sizes with the high level of service they have come to expect of us."
SRFF's increase in PIPEs transactions is representative of an industry that continues to demonstrate explosive growth. Upwards of $24 billion has been raised through August 1 of this year, double the $12 billion raised at this point in 2005 (according to the PIPEs Report). In fact, this $24 billion is more than was raised in all of 2005.
"I believe that the category will continue to grow as more mainstream companies seek financing through PIPEs," said Sichenzia. "This is not just for small and mid-cap companies anymore. In fact, much of the current growth in the PIPEs industry stems from large cap companies who are increasingly turning to PIPEs for financing."
Sichenzia Ross Friedman Ference LLP (SRFF) provides experienced, professional representation in all matters involving the securities industry, as well as in all general corporate and litigation matters. SRFF's clients range from start-ups to established, listed companies. They include private and public corporations, partnerships, broker-dealers, bank-affiliated broker-dealers, investment advisors, registered personnel, public and corporate customers and investors, partnerships and other entities. SRFF also advises institutional investors on transactions involving complex securities law considerations. The firm's practice includes the representation of clients located in the United States and throughout the world, including Argentina, Austria, Australia, Canada, China, Germany, Hungary, Israel, Korea, Malaysia, Mexico, Switzerland and the United Kingdom. For more information, visit www.srff.com. For interview and media requests, contact Avalanche Strategic Communications at 201-488-0049.
PIPEs Rankings are measured by the number of placements advised according to The PIPEs Report and Privateraise.com. The rankings include only PIPE transactions that have a value of at least $1.0 million. For more information about PIPE rankings, go to www.privateraise.com.