PlacementTracker Publishes First Half 2014 PIPE Market League Tables

Most Active Investment Banks, Institutional Investors, Issuer Counsels, Investor Counsels, and Placement Agent Counsels in the U.S. PIPE Market during the First Half of 2014.

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| Source: Sagient Research Systems

San Diego, July 9, 2014 (GLOBE NEWSWIRE) -- PlacementTracker, the leading source for data and analysis to institutions in the PIPE market, today announced the most active investment banks, institutional investors, issuer counsels, investor counsels, and placement agent counsels in the U.S. PIPE market during the first half of 2014.

Through the end of the first half of the year, a total of $19.2 billion was raised in 490 transactions in the U.S. PIPE market. Of this amount, 8 transactions totaling $1.2 billion have been announced but not yet closed as of 7/03/14.

Deal volume and dollars raised are up dramatically compared with the first half of 2013, continuing a trend of a growing market over the last several years. If the current pace continues through the second half of the year, 2014 is shaping up to be the PIPE market's busiest year since 2010.

Most Active Participants Include:

The First Half 2014 U.S. PIPE Market
Investment Banking League Table
By Number of Transactions:

Placement Agent Name                                                                Transaction Count Total Amount Placed
Roth Capital Partners, LLC 28              $         803,289,353
H.C. Wainwright & Co., LLC 23              $         456,769,482
Maxim Group LLC 20              $         456,444,083
Cowen and Company, LLC 18              $         851,815,133
Craig-Hallum Capital Group LLC 18              $         300,743,832
Canaccord Genuity Inc. (US) 15              $         671,683,981
Stifel Nicolaus Weisel 10              $         393,702,812
Jefferies & Company, Inc. 9              $         748,815,957
Piper Jaffray & Co. 9              $         541,605,511
Needham & Company, LLC 9              $         533,111,330
Ladenburg Thalmann & Co., Inc. 9              $         515,831,696
Aegis Capital Corporation 9              $         176,385,688
Chardan Capital Markets 9              $         135,420,213
Northland Securities, Inc. 9              $           88,251,829
Barclays Capital, Inc. 8              $         986,250,750
Oppenheimer & Co. Inc. 8              $         414,940,393
Laidlaw & Company (UK) Ltd. 8              $           80,868,454
JMP Securities LLC 7              $         584,324,757
Brean Capital, LLC 7              $         207,126,569
National Securities Corporation 6              $         113,113,500
RBC Capital Markets, Inc. 5              $         577,837,685
MLV & Co. LLC 5              $         221,681,263
BMO Capital Markets Corp. 5              $         130,948,182
T.R. Winston & Company, Inc. 5              $           51,468,036
Dawson James Securities, Inc. 5              $           40,179,543

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 07/03/14.

The First Half 2014 U.S. PIPE Market
Investment Banking League Table
By Total Amount Placed:

Placement Agent Name                                                                Transaction Count         Total Amount Placed
Bank of America Merrill Lynch    2              $      3,545,012,502
Morgan Stanley & Co. International plc   1              $      3,441,512,502
Citigroup Global Markets Limited    1              $      3,441,512,502
Goldman Sachs International    1  $      3,441,512,502
HSBC Bank plc    1  $      3,441,512,502
UBS Limited    1  $      3,441,512,502
Mediobanca-Banca di Credito Finanziario S.p.A    1  $      3,441,512,502
Deutsche Bank AG, Singapore Branch    1  $      1,000,000,000
Barclays Capital, Inc.     8  $         986,250,750
Cowen and Company, LLC    18  $         851,815,133
Roth Capital Partners, LLC    28  $         803,289,353
Jefferies & Company, Inc.    9  $         748,815,957
Canaccord Genuity Inc. (US)    15  $         671,683,981
JMP Securities LLC    7  $         584,324,757
RBC Capital Markets, Inc.    5  $         577,837,685
J.P. Morgan Chase & Co.    4  $         556,997,435
Piper Jaffray & Co.    9  $         541,605,511
Needham & Company, LLC    9  $         533,111,330
Ladenburg Thalmann & Co., Inc.   9  $         515,831,696
H.C. Wainwright & Co., LLC    23  $         456,769,482
Maxim Group LLC    20  $         456,444,083
Deutsche Bank Securities, Inc.    3  $         450,158,750
Oppenheimer & Co. Inc.    8  $         414,940,393
Stifel Nicolaus Weisel    10  $         393,702,812
HSBC Securities, Inc.   3  $         347,237,435

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 07/03/14.

The First Half 2014 U.S. PIPE Market
Institutional Investor League Table
By Number of Transactions:

Investor Name                                                                                 Transaction Count Total Amount Invested
Millennium Management, LLC 30 $           1,000,000
Citadel Advisors, LLC 26 Not Disclosed
Sabby Management, LLC 23 $         38,523,470
Group One Trading, L.P. 18         Not Disclosed
Perceptive Advisors, LLC 15         Not Disclosed
Bank of New York 14         Not Disclosed
Hudson Bay Capital Management L.P. 13 $         60,214,150
Heights Capital Management, Inc. 13 $         22,629,589
Fidelity Management & Research Corporation 13 Not Disclosed
Empery Asset Management LP 12 $         25,046,037
Broadfin Capital, LLC 12                  $           6,403,161
Deerfield Management 11 $         38,499,998
LH Financial Services Corporation 11 $         13,735,497
S.A.C. Capital Advisors, LLC 11 Not Disclosed
DAFNA Capital Management, LLC 10 $          6,466,910
UBS O'Connor LLC 10 Not Disclosed
Wellington Management Company LLP 9 $        67,244,066
Downsview Capital, Inc. 9 $        11,230,673
D.E. Shaw & Co., L.P. 9 Not Disclosed
Baker Brothers Advisors, LLC  8 $        17,000,006
Wexford Capital LLC 8 $          1,000,000
Adage Capital Partners GP, LLC 8 Not Disclosed
Jennison Associates LLC 8 Not Disclosed
Orbimed Advisors, LLC 7                   $       15,000,010
RA Capital Management, LLC 7 $       10,297,002

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 07/03/14.

The First Half 2014 PIPE Market
Issuer Counsel League Table
By Number of Transactions:

Legal Counsel                                                                                  Transaction Count        Total Amount Advised
Sichenzia Ross Friedman Ference, LLP 17        $           124,549,439
Cooley LLP 14        $           590,074,045
Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC 12        $           217,886,915
Skadden, Arps, Slate, Meagher & Flom, LLP 7        $           521,121,919
Seward & Kissel LLP 6        $           120,701,250
Latham & Watkins, LLP 5        $        1,212,258,958
Ropes & Gray 5        $           167,938,312
Morrison & Foerster, LLP 5        $           102,635,009
Ellenoff Grossman & Schole LLP 5        $             79,921,679
Greenberg Traurig, LLP 5        $             37,792,838
Szaferman Lakind Blumstein & Blader, PC 5        $             10,850,500
Wilmer Cutler Pickering Hale & Dorr, LLP 4        $           656,836,329
Troutman Sanders, LLP 4        $           194,020,375
Hogan Lovells 4        $             60,376,988
DLA Piper 4        $             55,728,452
Robinson Brog Leinwand Greene Genovese & Gluck P.C. 4        $             43,452,653
Weintraub Tobin Chediak Coleman Grodin 4        $             29,956,165
K&L Gates LLP 4        $             27,843,600
Dorsey & Whitney, LLP 4        $             19,125,000
TroyGould PC 3        $           183,545,240
Holland & Hart, LLP 3        $           178,000,000
Vinson & Elkins, LLP 3        $           101,042,000
Dechert, LLP 3        $             83,749,736
Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, LLP 3        $             79,793,678
Goodwin Procter, LLP 3 $             57,400,006

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 07/03/14.

The First Half 2014 PIPE Market
Investor Counsel League Table
By Number of Transactions:

Legal Counsel                                                                                  Transaction Count        Total Amount Advised
Schulte Roth & Zabel, LLP                                                 39          $      1,652,481,705
Greenberg Traurig, LLP 11             $         138,408,509
Ellenoff Grossman & Schole LLP 7             $           14,639,918
Sichenzia Ross Friedman Ference, LLP 4             $           33,401,278
Ropes & Gray 3             $         142,731,567
Brown Rudnick LLP 3  $           61,900,000
Lowenstein Sandler, PC 3  $           60,482,740
Grushko & Mittman, PC 3  $             5,500,000
Simpson Thacher Bartlett, LLP 2  $      1,198,000,000
Akin, Gump, Strauss, Hauer & Feld, LLP 2  $         319,999,944
Goodwin Procter, LLP 2  $           10,000,000
Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC 2  $             9,280,000
Skadden, Arps, Slate, Meagher & Flom, LLP 1  $      1,356,473,602
Cleary, Gottlieb, Steen & Hamilton 1  $         500,000,010
Latham & Watkins, LLP 1  $         399,999,997
Vinson & Elkins, LLP 1  $           98,000,000
Kirkland & Ellis 1  $           90,000,000
Seward & Kissel LLP 1  $           44,100,000
Watson, Farley & Williams LLP 1  $           30,700,000
Norton Rose Fulbright 1  $           22,000,000
PremierCounsel, LLP 1  $           20,000,000
Covington & Burling 1  $           16,524,998
Luse Gorman Pomerenk & Schick, PC 1  $           10,000,000
Pryor Cashman Sherman & Flynn, LLP 1  $             7,000,000
Troutman Sanders, LLP 1  $             6,999,990

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 07/03/14.

The First Half 2014 PIPE Market
Placement Agent Counsel League Table
By Number of Transactions:

Legal Counsel                                                                                  Transaction Count        Total Amount Advised
Ellenoff Grossman & Schole LLP                                               36            $         443,009,717
Goodwin Procter, LLP 20            $         791,512,069
Lowenstein Sandler, PC 9            $         184,212,854
Proskauer Rose, LLP 7            $         240,828,098
Sichenzia Ross Friedman Ference, LLP 7            $           54,593,601
Latham & Watkins, LLP 6            $         639,775,180
Choate, Hall & Stewart, LLP 6            $           74,758,375
Faegre Baker Daniels LLP 5            $           20,285,508
Blank Rome LLP 4            $           71,538,838
Stikeman Elliott LLP 4            $           64,450,000
Morrison & Foerster, LLP 3            $         119,855,013
Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC 3            $           83,235,875
Reed Smith, LLP 3            $           33,349,250
Pillsbury, Winthrop, Shaw & Pittman, LLP 2            $         346,628,705
Fried, Frank, Harris, Shriver & Jacobson 2            $         265,750,000
Covington & Burling 2            $         147,978,457
Dechert, LLP 2            $         103,356,362
Nixon Peabody, LLP 2            $           49,287,000
Faegre & Benson, LLP 2            $           20,107,875
Schiff Hardin, LLP 2            $           18,929,521
Schiff Hardin & Waite 2            $           17,753,904
Schulte Roth & Zabel, LLP 2            $             9,245,749
Taylor Wessing 1            $         105,300,000
Davis Polk & Wardwell LLP 1            $         103,500,000
Kirkland & Ellis 1            $           80,500,000

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 07/03/14.

About PlacementTracker 
PlacementTracker is well recognized as the leading provider of research, data, and analytics covering the PIPE market (Private Investment in Public Equity). With data on every private placement since January 1, 1995, PlacementTracker's web-based platform provides subscribers with an easy to use, comprehensive means to: Evaluate PIPE transactions & investors, perform quick transaction pricing, identify potential issuers and investors, and compile comparable transaction, investor & agent statistics. PlacementTracker's dynamically updating League Tables are available online at: http://www.placementtracker.com/leaguetables.cfm.

About Sagient Research Systems
PlacementTracker is a flagship product of Sagient Research Systems, a publisher of specialized research and data. Sagient Research develops and sells 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.

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Mike Kotecki
858-200-2370