PlacementTracker Publishes 2013 PIPE Market League Tables

PlacementTracker, the leading platform for data and analytics serving institutions in the PIPE market, today announced the most active investment banks, institutional investors, and law firms in the U.S. PIPE market during 2013.

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| Source: Sagient Research Systems

San Diego, Jan. 8, 2014 (GLOBE NEWSWIRE) -- In 2013, a total of $23.5 billion was raised in 854 transactions in the U.S. PIPE market. Of this amount, 5 transactions totaling $60 million have been announced but not yet closed as of 1/06/13. Commenting on the activity in the PIPE market, Robert Kyle, Sagient Research's Chief Executive Officer said, "The market for PIPEs in 2013 got off to a slow start, but a strong third quarter and an even better fourth quarter helped to push deal volume ahead of 2012 totals, making it the first year of deal volume growth since 2010."

Highlights Include:

The 2013 U.S. PIPE Market Investment Banking League Table
By Number of Transactions:

Placement Agent Name                                                     Transaction Count                Total Amount Placed
Roth Capital Partners, LLC 54       $         1,142,487,919
Cowen and Company, LLC 28       $         1,456,176,077
Ladenburg Thalmann & Co., Inc. 26       $            623,863,688
Craig-Hallum Capital Group LLC 23       $            462,173,277
Maxim Group LLC 20       $            306,174,176
Dawson James Securities, Inc. 20       $              97,484,820
Piper Jaffray & Co. 19       $            997,648,633
Canaccord Genuity Inc. (US) 19        $            929,781,134
Stifel Nicolaus Weisel 19       $            839,637,997
Jefferies & Company, Inc. 18       $         1,325,062,261
Lazard 18       $            685,404,063
Aegis Capital Corporation 17       $            176,293,953
JMP Securities, LLC 16       $         1,723,383,893
H.C. Wainwright & Co., LLC 16       $            135,089,920
William Blair & Company, LLC 14       $            411,524,743
Needham & Company, LLC 13       $            460,382,884
Robert W. Baird & Co. 11       $            693,609,890
Oppenheimer & Co. Inc. 10       $            361,943,338
Brean Capital, LLC 10       $            242,140,796
National Securities Corporation 10       $            158,477,702
Chardan Capital Markets 10       $            116,531,902
RS Platou Markets AS 9       $         1,303,990,576
Northland Securities, Inc. 9       $            143,552,666
Barclays Capital, Inc. 8       $            732,300,665
Leerink Swann, LLC 8       $            685,422,580

Investment Banking rankings exclude all 144-A Offerings,  Equity Lines of Credit, At the Market Transactions, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the Pink Sheets.  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 for closed and definitive agreement transactions reported as of 1/08/14.

The 2013 U.S. PIPE Market Investment Banking League Table
By Total Amount Placed:

Placement Agent Name                                                     Transaction Count                Total Amount Placed
Goldman Sachs (Asia) LLC    1       $         3,099,692,239
JMP Securities LLC    16       $         1,723,383,893
BMO Capital Markets Corp.   3       $         1,546,071,903
Cowen and Company, LLC   28       $         1,456,176,077
Jefferies & Company, Inc.    18       $         1,325,062,261
RS Platou Markets AS    9       $         1,303,990,576
Roth Capital Partners, LLC   54       $         1,142,487,919
Deutsche Bank AG, Singapore Branch    1       $         1,000,000,000
Piper Jaffray & Co.    19       $            997,648,633
Canaccord Genuity Inc. (US)    19       $            929,781,134
RCS Capital    2       $            899,999,988
Stifel Nicolaus Weisel    19       $            839,637,997
Clarkson Capital Markets    4       $            815,037,197
Evercore Partners Inc.    4       $            800,037,220
DnB NOR Markets    3       $            765,037,197
Barclays Capital, Inc.     8       $            732,300,665
Robert W. Baird & Co.     11       $            693,609,890
Leerink Swann, LLC    8       $            685,422,580
Lazard    18       $            685,404,063
J.P. Morgan Chase & Co.    4       $            663,567,139
Global Hunter Securities, LLC    5       $            639,953,351
Ladenburg Thalmann & Co., Inc.    26       $            623,863,688
UBS Securities LLC    3       $            615,276,903
RBC Capital Markets, Inc.    3       $            603,574,778
SEB Enskilda AS    2       $            534,997,197

Investment Banking rankings exclude all 144-A Offerings,  Equity Lines of Credit, At the Market Transactions, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the Pink Sheets.  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 for closed and definitive agreement transactions reported as of 1/08/14.

The 2013 U.S. PIPE Market Institutional Investor League Table
By Number of Transactions:

Investor Name                                                                      Transaction Count             Total Amount Invested
Millennium Management, LLC 48                $          7,550,000
Sabby Management, LLC 41                $        44,487,000
Empery Asset Management LP 32 $        62,778,068
Fidelity Management & Research Corporation 31                $        18,618,976
Deerfield Management 28                $      312,970,247
Heights Capital Management, Inc. 27                $        37,451,100
D.E. Shaw & Co., L.P. 23                             Not Disclosed
Perceptive Advisors, LLC 22                $          7,610,000
UBS O'Connor LLC 22                             Not Disclosed
AWM Investment Management (MGP Advisors, LLC) 21                $        23,640,003
Broadfin Capital, LLC 21                $          8,500,198
DAFNA Capital Management, LLC 21                $          4,250,451
Wellington Management Company LLP 20                $          6,137,343
Baker Brothers Advisors, LLC 19                $        61,395,503
Citadel Advisors, LLC 19                $                10,000
Hudson Bay Capital Management L.P. 18                $        21,748,615
Perkins Capital Management, Inc. 18                $                50,000
RA Capital Management, LLC 17                $        43,159,990
LH Financial Services Corporation 17                $        12,843,139
Brio Capital Management LLC 17                $          5,024,681
Bank of New York 17                             Not Disclosed
Downsview Capital, Inc. 15                $          6,109,274
Jane Street Capital, LLC 14                             Not Disclosed
Morgan Stanley 13                             Not Disclosed
Crede Capital Group, LLC (Socius Capital) 12                         $       84,313,111

Investor rankings exclude all 144-A Offerings, Equity Lines of Credit, At the Market Transactions, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the Pink Sheets.  Investors classified as Corporate Investors and Insurance Companies have been excluded from this ranking.  Data is for closed and definitive agreement transactions reported as of 1/08/14.

The 2013 PIPE Market Issuer Counsel League Table
By Number of Transactions:

Legal Counsel                                                                       Transaction Count            Total Amount Advised
Ropes & Gray 21                 $       488,091,301
Cooley LLP 20            $       901,739,793
Greenberg Traurig, LLP 14            $       111,691,069
Sichenzia Ross Friedman Ference, LLP 13            $         99,045,091
Skadden, Arps, Slate, Meagher & Flom, LLP 12            $    1,715,716,099
Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC 11            $       473,767,733
Dorsey & Whitney, LLP 11            $       108,444,846
Morgan, Lewis & Bockius, LLP 10            $       226,795,611
DLA Piper 9            $       322,316,979
Ellenoff Grossman & Schole LLP 9            $         61,702,741
Goodwin Procter, LLP 8            $       243,799,211
Morrison & Foerster, LLP 8            $       173,402,901
K&L Gates LLP 8            $       144,883,220
O'Melveny & Myers, LLP 8            $       102,485,256
Graubard Miller 8            $         61,366,727
Wilmer Cutler Pickering Hale & Dorr, LLP 7            $       683,002,798
Troutman Sanders, LLP 7            $       132,486,222
Latham & Watkins, LLP 6            $    1,155,980,991
Seward & Kissel LLP 6            $    1,027,646,378
Thompson & Hine, LLP 6            $       213,001,255
Wyrick Robbins Yates & Ponton, LLP 6            $       123,542,564
Fenwick & West, LLP 6            $         54,629,999
Willkie, Farr & Gallagher 6            $         14,188,144
Proskauer Rose, LLP 5            $   1,421,287,856
Baker, Donelson, Bearman, Caldwell & Berkowitz 5 $         92,592,021

Legal counsel rankings exclude all 144-A Offerings, Equity Lines of Credit, At the Market Transactions, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the Pink Sheets.  Data is for closed and definitive agreement transactions reported as of 1/08/14.

The 2013 PIPE Market Investor Counsel League Table
By Number of Transactions:

Legal Counsel                                                                       Transaction Count              Total Amount Advised
Schulte Roth & Zabel, LLP 37            $       1,836,349,806
Greenberg Traurig, LLP 15            $          127,452,412
Ellenoff Grossman & Schole LLP 13            $            34,113,337
Lowenstein Sandler, PC 9            $            83,861,061
Vinson & Elkins, LLP 6            $          217,403,968
Grushko & Mittman, PC 6            $            25,305,170
Katten Muchin Rosenman, LLP 5            $          234,076,000
Peter J. Weisman, PC 5            $            18,225,000
Ropes & Gray 4            $          263,780,716
Seward & Kissel LLP 4            $            52,425,503
Simpson Thacher Bartlett, LLP 3            $       1,218,000,000
Willkie, Farr & Gallagher 3            $          248,242,399
Akin, Gump, Strauss, Hauer & Feld, LLP 3            $            71,409,672
Kirkland & Ellis 3            $            66,000,000
Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC 3            $            46,000,472
Morgan, Lewis & Bockius, LLP 3            $            38,290,600
Proskauer Rose, LLP 2            $          406,412,015
Davis Polk & Wardwell 2            $          100,000,000
DLA Piper 2            $            45,000,005
Matthew M. Guest, Esq. 2            $            45,000,005
Wachtell, Lipton, Rosen & Katz 2            $            45,000,005
Cooley LLP 2            $            37,000,000
Olshan Frome Wolosky LLP 2            $            32,104,500
Gallant Y.T. Ho & Company 2            $            24,510,000
O'Melveny & Myers, LLP 2                   $            20,995,500

Legal counsel rankings exclude all 144-A Offerings, Equity Lines of Credit, At the Market Transactions, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the Pink Sheets.  Data is for closed and definitive agreement transactions reported as of 1/08/14.

The 2013 PIPE Market Placement Agent Counsel League Table
By Number of Transactions:

Legal Counsel                                                                       Transaction Count              Total Amount Advised
Ellenoff Grossman & Schole LLP 47                   $          331,597,380
Goodwin Procter, LLP 33                   $       1,025,804,352
Proskauer Rose, LLP 16                   $          792,835,964
Lowenstein Sandler, PC 13                   $          172,349,188
Morrison & Foerster, LLP 7                   $          161,475,011
Latham & Watkins, LLP 6                   $          290,128,385
Reed Smith, LLP 6                   $          125,933,750
Covington & Burling 5                   $          323,602,366
Cooley LLP 5                   $          148,808,337
DLA Piper 5           $          147,234,500
LeClairRyan, PC 5                   $            96,803,596
Faegre Baker Daniels LLP 5                   $            92,494,416
Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC 5                   $            88,477,498
Sichenzia Ross Friedman Ference, LLP 5                   $            22,400,000
Fried, Frank, Harris, Shriver & Jacobson 4                   $          270,001,280
Dechert, LLP 4                   $          168,145,528
K&L Gates LLP 4                   $            63,199,725
Loeb & Loeb, LLP 4                   $            53,462,497
Pryor Cashman Sherman & Flynn, LLP 4                   $            41,392,476
Choate, Hall & Stewart, LLP 3                   $          133,026,250
Stikeman Elliott LLP 3                   $            58,190,000
Morgan, Lewis & Bockius, LLP 3                   $            45,671,581
SorinRand LLP 3                   $            12,269,583
McGuireWoods, LLP 2                   $          899,999,988
Pillsbury Winthrop, LLP 2                   $          105,652,188

Legal counsel rankings exclude all 144-A Offerings, Equity Lines of Credit, At the Market Transactions, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the Pink Sheets.  Data is for closed and definitive agreement transactions reported as of 1/08/14.

About PlacementTracker
PlacementTracker
, a flagship product of Sagient Research Systems, is well recognized as the leading provider of research, data, and analytics covering the PIPE market. PlacementTracker's dynamically updating League Tables are available online at: http://www.placementtracker.com/leaguetables.cfm. To better understand how BioMedTracker can complement your PlacementTracker subscription to fully understand the competitive landscape for issuers you invest in or advise, please click here.

About Sagient Research Systems
Sagient Research Systems is a publisher of specialized research and data. They develop and sell proprietary research products to global enterprises, including investment banks, mutual and hedge funds, pharmaceutical companies, academic institutions, and government agencies.  In each of 2007, 2008, 2009, 2010, and 2012 Sagient Research was named to the Inc. 5000 list of fastest growing companies.  

For more information, please visit the Sagient Research Systems website at www.sagientresearch.com.

Mike Kotecki
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