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NEW YORK, July 12, 2017 /PRNewswire/ -- PlacementTracker, the leading source for data and analysis to institutions in the PIPE market, today announced the most active investment banks, investors, and law firms in the U.S. PIPE market during the first half of 2017.

 

A total of $15 billion was raised in 457 transactions through the first half of 2017. Of this amount, 7 transactions totaling $25 million have been announced but not yet closed as of 07/10/2017.  Deal volume is down 2.8% (469 deals in H1 2016) but dollar volume decreased  a massive 44% ($27B in H1 2016). 

 

We congratulate all of the active members of the PIPE community, many of whom are long-time clients of PlacementTracker.  We are dedicated to providing them with access to the very best data and analytics available in our industry.

Most Active Participants Include:

 

The First Half of 2017 U.S. PIPE Market

Investment Banking League Table by Number of Transactions:

 

Placement Agent Name

Transaction Count

Total Amount Placed

H.C. Wainwright & Co., LLC

42

$836,517,787

Roth Capital Partners, LLC

21

$365,011,548

Maxim Group LLC

21

$213,904,436

Sandler O'Neill & Partners, L.P.

15

$833,178,269

Jefferies & Company, Inc.

15

$819,820,652

Cantor Fitzgerald & Company

14

$1,032,263,921

Raymond James & Associates Inc.

14

$693,670,038

Aegis Capital Corporation

14

$191,035,915

Canaccord Genuity Inc. (US)

11

$474,958,124

Ladenburg Thalmann & Co., Inc.

11

$246,248,512

Cowen and Company, LLC

10

$439,350,578

Chardan Capital Markets

10

$108,018,869

Keefe, Bruyette & Woods, Inc.

9

$493,475,660

Needham & Company, LLC

8

$239,314,328

Oppenheimer & Co. Inc.

8

$204,980,168

J.P. Morgan Chase & Co.

7

$1,401,804,940

Piper Jaffray & Co.

7

$456,993,423

JMP Securities LLC

7

$426,078,637

Craig-Hallum Capital Group LLC

7

$124,633,825

Laidlaw & Company (UK) Ltd.

7

$44,265,958

B. Riley & Co.

6

$158,255,222

Joseph Gunnar & Company, LLC

6

$116,622,075

Stephens Inc.

5

$403,650,684

Dawson James Securities, Inc.

5

$25,087,293

Barclays Capital, Inc.

4

$1,029,500,600

 

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 OTC.  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 07/10/17.

 

 

The First Half of 2017 U.S. PIPE Market

Institutional Investor League Table by Number of Transactions:

 

 

 

Investor Name

 

 

Transaction Count

Total Amount Invested

Heights Capital Management, Inc.

9

$20,926,757

Sabby Management, LLC

9

$20,170,533

Hudson Bay Capital Management L.P.

9

$12,106,367

IntraCoastal Capital, LLC

7

$3,010,149

Empery Asset Management LP

6

$7,558,982

AWM Investment Management (MGP Advisors, LLC)

5

$6,696,183

Anson Capital, LP

5

$2,953,130

Lincoln Park Capital

5

$1,871,923

Elliott Management Corporation

4

$540,500,000

Baker Brothers Advisors, LLC

4

$39,034,020

Perceptive Advisors, LLC

4

$16,060,810

Armistice Capital Master Fund Limited

4

$14,217,449

Kingsbrook Partners, LP

4

$989,913

Iroquois Capital L.P.

4

$929,810

Blackrock, Inc.

3

$427,099,355

Ares Management L.P. (NYSE: ARES)

3

$195,010,000

Froley Revy Investment Company, Inc.

3

$50,000,000

Alyeska Investment Group, L.P.

3

$14,707,570

Kalani Investments Limited

3

$13,700,000

Cormorant Asset Management, LLC

3

$13,049,993

Adage Capital Partners GP, LLC

3

$10,893,994

Broadfin Capital, LLC

3

$7,221,980

Highland Capital Management, L.P.

3

$5,593,011

Wellington Management Company LLP

3

$1,756,015

Porter Capital Management Company

3

$1,677,405

 

 

 

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 OTC.  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 07/10/17.

 

 

The First Half of 2017 U.S. PIPE Market

Issuer Counsel League Table by Number of Transactions:

 

Legal Counsel

Transaction Count

Total Amount Advised

Cooley LLP

14

$606,171,936

Latham & Watkins, LLP

12

$1,025,844,656

Sichenzia Ross Ference Kesner LLP

12

$57,633,330

Goodwin Procter, LLP

10

$473,762,283

Fenwick & West, LLP

9

$256,715,602

Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC

7

$251,968,154

Sidley Austin LLP

6

$707,745,938

Greenberg Traurig, LLP

6

$546,008,004

DLA Piper

6

$228,749,997

Wilson Sonsini Goodrich & Rosati

6

$220,712,498

Seward & Kissel LLP

6

$141,275,003

Wilmer Cutler Pickering Hale & Dorr, LLP

6

$124,999,979

Hogan Lovells

6

$120,159,980

Morgan, Lewis & Bockius, LLP

6

$92,494,001

Paul Hastings LLP

5

$179,798,293

Sheppard, Mullin, Richter & Hampton, LLP

5

$155,900,014

Dechert, LLP

5

$92,911,285

Alston & Bird, LLP

4

$313,752,064

Troutman Sanders, LLP

4

$84,273,108

K&L Gates LLP

4

$46,949,409

Vinson & Elkins, LLP

3

$214,999,978

Lowenstein Sandler LLP

3

$61,214,709

Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP

3

$56,154,998

Davis Polk & Wardwell LLP

3

$50,739,993

Morrison & Foerster, LLP

3

$39,144,055

 

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 OTC.  Data is for closed and definitive agreement transactions reported as of 07/10/17.

 

 

The First Half of 2017 U.S. PIPE Market

Investor Counsel League Table by Number of Transactions:

 

Legal Counsel

 

Transaction Count

Total Amount Advised

 

Schulte Roth & Zabel, LLP

33

$1,075,580,070

 

Kelley Drye & Warren LLP

19

$733,451,787

 

Debevoise & Plimpton, LLP

4

$540,500,000

 

Kirkland & Ellis

4

$490,000,000

 

Ellenoff Grossman & Schole LLP

4

$22,064,000

 

Skadden, Arps, Slate, Meagher & Flom, LLP

3

$283,748,000

 

King & Wood, LLP

2

$273,100,000

 

Greenberg Traurig, LLP

2

$125,000,000

 

Sullivan & Cromwell

2

$94,700,000

 

White & Case, LLP

2

$49,549,998

 

Gibson, Dunn & Crutcher, LLP

2

$24,998,090

 

Peter J. Weisman, PC

2

$9,714,915

 

Sichenzia Ross Ference Kesner LLP

2

$2,242,000

 

Andrews Kurth Kenyon, LLP

1

$300,000,000

 

Jones Day

1

$172,500,000

 

Simpson Thacher Bartlett, LLP

1

$172,500,000

 

Paul, Weiss, Rifkind, Wharton & Garrison

1

$150,000,000

 

Davis Polk & Wardwell

1

$108,000,000

 

Fried, Frank, Harris, Shriver & Jacobson

1

$95,000,000

 

Ropes & Gray

1

$70,000,000

 

Foley Hoag, LLP

1

$31,500,002

 

Shearman & Sterling LLP

1

$30,000,000

 

Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC

1

$7,700,000

 

Kilpatrick Townsend & Stockton LLP

1

$7,400,000

 

Akin, Gump, Strauss, Hauer & Feld, LLP

1

$5,070,780

 

 

 

 

 

 

 

 

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 OTC.  Data is for closed and definitive agreement transactions reported as of 07/10/17.

 

 

The First Half of 2017 U.S. PIPE Market

Placement Agent Counsel League Table by Number of Transactions:

 

 

Legal Counsel

Transaction Count

Total Amount Advised

Ellenoff Grossman & Schole LLP

28

$193,725,961

Cooley LLP

13

$702,437,504

Covington & Burling

11

$657,600,670

Goodwin Procter, LLP

10

$421,196,852

Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC

9

$146,266,177

Latham & Watkins, LLP

8

$453,708,215

Sichenzia Ross Ference Kesner LLP

6

$36,844,146

Sheppard, Mullin, Richter & Hampton, LLP

5

$24,401,000

Proskauer Rose, LLP

4

$100,345,001

Pillsbury, Winthrop, Shaw & Pittman, LLP

3

$97,999,998

Dechert, LLP

3

$54,785,642

Stikeman Elliott LLP

2

$199,100,004

Davis Polk & Wardwell LLP

2

$110,380,625

Alston & Bird, LLP

2

$77,925,008

DLA Piper

2

$50,003,498

Duane Morris, LLP

2

$21,500,001

Loeb & Loeb, LLP

2

$18,430,022

Schiff Hardin, LLP

2

$14,470,001

Zysman Aharoni Gayer and Sullivan & Worcester LLP

2

$7,112,500

Carmel, Milazzo & DiChiara LLP

2

$2,359,240

Skadden, Arps, Slate, Meagher & Flom, LLP

1

$160,000,305

Sullivan & Cromwell

1

$86,293,125

Luse Gorman, PC

1

$86,293,125

Vinson & Elkins, LLP

1

$69,000,000

Bennett Jones, LLP

1

$69,000,000

 

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 OTC.  Data is for closed and definitive agreement transactions reported as of 07/10/17.

 

The First Half of 2017 U.S. ATM Market

Sales Agent by Number of Transactions:

 

Sales Agent

Transaction Count

Commitment Amount

Cantor Fitzgerald & Company

28

$2,776,955,000

Bank of America Merrill Lynch

23

$8,596,151,030

FBR Capital Markets

22

$1,762,140,000

Jefferies & Company, Inc.

20

$6,509,761,030

Wells Fargo Securities, LLC

19

$7,375,000,000

RBC Capital Markets, Inc.

19

$6,460,860,000

Raymond James & Associates Inc.

18

$3,333,720,280

J.P. Morgan Chase & Co.

14

$6,590,600,000

Citigroup Global Markets, Inc.

14

$3,650,219,250

Morgan Stanley

12

$6,040,600,000

Robert W. Baird & Co.

12

$2,127,519,250

Cowen and Company, LLC

12

$600,000,000

SunTrust Robinson Humphrey, Inc.

11

$3,040,000,000

Goldman, Sachs & Co.

10

$4,452,300,000

Deutsche Bank Securities, Inc.

10

$3,250,000,000

BMO Capital Markets Corp.

9

$2,800,000,000

Credit Suisse Securities (USA) LLC

9

$2,615,600,000

JMP Securities LLC

9

$1,002,143,000

Mitsubishi UFJ Securities (USA), Inc.

8

$3,175,000,000

Barclays Capital, Inc.

8

$3,133,560,000

KeyBanc Capital Markets

8

$2,350,000,000

Ladenburg Thalmann & Co., Inc.

8

$1,097,983,000

H.C. Wainwright & Co., LLC

8

$394,944,000

JonesTrading Institutional Services LLC

8

$368,511,700

BB&T Capital Markets

7

$2,257,300,000

 

Sales Agent rankings includes At the Market transactions only.  Data is for closed and definitive agreement transactions reported as of 07/10/2017.

 

The First Half of 2017 U.S. ATM Market

Sales Agent by Commitment Amount:

 

Sales Agent

Transaction Count

Commitment Amount

Bank of America Merrill Lynch

23

$8,596,151,030

Wells Fargo Securities, LLC

19

$7,375,000,000

J.P. Morgan Chase & Co.

14

$6,590,600,000

Jefferies & Company, Inc.

20

$6,509,761,030

RBC Capital Markets, Inc.

19

$6,460,860,000

Morgan Stanley

12

$6,040,600,000

Goldman, Sachs & Co.

10

$4,452,300,000

Citigroup Global Markets, Inc.

14

$3,650,219,250

Raymond James & Associates Inc.

18

$3,333,720,280

Deutsche Bank Securities, Inc.

10

$3,250,000,000

Mitsubishi UFJ Securities (USA), Inc.

8

$3,175,000,000

Barclays Capital, Inc.

8

$3,133,560,000

SunTrust Robinson Humphrey, Inc.

11

$3,040,000,000

BMO Capital Markets Corp.

9

$2,800,000,000

Cantor Fitzgerald & Company

28

$2,776,955,000

Credit Suisse Securities (USA) LLC

9

$2,615,600,000

Mizuho Securities Co., Limited

5

$2,575,000,000

TD Securities (USA) Inc.

4

$2,575,000,000

KeyBanc Capital Markets

8

$2,350,000,000

BB&T Capital Markets

7

$2,257,300,000

Capital One Securities

7

$2,150,000,000

Robert W. Baird & Co.

12

$2,127,519,250

Stifel Nicolaus Weisel

7

$2,025,000,000

Fifth Third Bank

4

$1,800,000,000

FBR Capital Markets

22

$1,762,140,000

 

Sales Agent rankings includes At the Market transactions only.  Data is for closed and definitive agreement transactions reported as of 07/10/2017.

Complimentary July Issue of PlacementTracker Journal

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With PlacementTracker Journal, you can monitor deal flow, see league tables, and gain unique prospective and insights of the U.S. Equities Market, as it pertains to private placement financings. PlacementTracker Journal also provides tailored broad market commentary and expert analysis of individual deals.

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Please contact our team for further information, or to discuss purchasing the PlacementTracker Journal

 

About PlacementTracker

PlacementTracker, part of the Business Intelligence Division of Informa PLC, is well recognized as the leading provider of research, data, and analytics covering the PIPE market and other capital raising methods. PlacementTracker's dynamically updated League Tables are available online at: http://www.placementtracker.com/leaguetables.cfm.

 

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For more information, please visit the Financial Intelligence website.

Company Contact:

Suzanne Chaves
(617) 722-4622
suzanne.chaves@informa.com
www.PlacementTracker.com

 

About Informa Financial Intelligence

Informa Financial Intelligence, a subsidiary of Informa plc, is a leading provider of critical decision-making solutions and custom services to financial institutions. From the big picture to the smallest detail, Informa Financial Intelligence’s leading-edge financial information and decision-making products provide specialized industry research, intelligence, and insight.

 

 

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