NEW YORK, Feb. 16, 2006 (PRIMEZONE) -- The end of 2005 marks the end of a banner year for Sichenzia Ross Friedman Ference LLP (SRFF). SRFF maintained their nineteen-month stronghold as the #1 issuer placement advisor in the PIPEs industry, closing the year with 60 deals completed, more than double that of any other firm in the country. SRFF's 2005 performance represents a 35% increase over the number of deals completed in the previous year. SRFF filed 89 new registration statements during 2005, with a total of 289 registrations having been filed including amendments. Richard Friedman, managing partner, stated, "With the amount of filings we do with the SEC, we are able to stay on top of new and emerging issues affecting registrations. As a result, we are able to keep our clients updated and informed about these issues as they are changing."
In 2005, the PIPEs market experienced the highest level of investment to date. Year-end data reveals that micro-cap issuers dominated this market, with SRFF emerging as the clear frontrunner as an advisor to these issuers. As the dollar amount of SRFF's average deal size grew, SRFF increased its total dollars placed by 66% in 2005, totaling $235 million for the year and making it one of the top 20 firms in terms of total dollars raised in the transactions on which it advised.
Friedman notes, "During the second half of 2005, we saw a lot more reverse mergers with PIPEs as a result of the new 8-K rules. The new SEC rules have legitimized the reverse merger process in the eyes of a lot of investors. This has opened them up to the concept of investing in new and emerging companies, as well as currently public companies." An effect of the new rules is that "better and more qualified companies are doing reverse mergers."
This year, SRFF has also increased the number of investor placements it advised and is currently ranked 14th on the PIPEs scorecard in this market.
During 2005, SRFF not only surpassed its competitors in the PIPEs market, but also added six attorneys to their staff and expanded their New York office to accommodate this continuing growth. Friedman attributes this continued growth to "investors having a greater appetite for these types of financing transactions, as well as having more money available to them to invest than ever before. Clients come to us because we've proven, time and time again, that we provide them with the attention and results that they need to achieve their objectives, coupled with innovative and flexible fee arrangements, including fixed project rates. The results speak for themselves, and with what we see for 2006," Mr. Friedman adds, "we don't see business slowing down."
About Sichenzia Ross Friedman Ference LLP
Sichenzia Ross Friedman Ference LLP provides experienced professional representation in all matters involving the securities industry, as well as general corporate and litigation matters. Our 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. We also advise institutional investors on transactions involving complex securities law considerations. Our areas of expertise include corporate and commercial transactions, securities litigation, and arbitration, administrative practice before regulatory agencies, mergers and acquisitions and broker-dealer regulation. For additional information about Sichenzia Ross Friedman Ference's nationally ranked PIPEs practice, go to www.srff.com.