SAN DIEGO, April 10, 2012 (GLOBE NEWSWIRE) -- Sagient Research Systems, a leading publisher of independent research for the financial services and institutional investment communities, today announced that Rodman & Renshaw, LLC ranked as the number one most active investment bank and Heights Capital Management, Inc., ranked as the number one most active institutional investor in the U.S. PIPE market during the first quarter of 2012.
Sagient Research also announced that Cooley LLP ranked as the number one most active issuer counsel, Schulte Roth & Zabel, LLP ranked as the number one most active investor counsel, and Ellenoff Grossman & Schole LLP ranked as the number one most active placement agent counsel in the U.S. PIPE market through the first quarter of 2012.
PlacementTracker, a flagship product of Sagient Research Systems, is well recognized as the leading provider of research, data, and analytics covering the PIPE market.
Commenting on the activity in the PIPE market, Robert Kyle, Sagient Research's Chief Executive Officer said, "During the first quarter of 2012, over $8.1 billion was raised in 229 transactions (of this amount, 16 transactions totaling $37 million have been announced but not yet closed as of 4/09/12). This compares with just $4.4 billion raised in only 183 transactions in the fourth quarter of 2011. After an abysmal finish for PIPEs in 2011, the market is bouncing back well in the beginning of 2012 as the performance of small to midcap stocks continues to improve. While pent up cash demands didn't lead to the blockbuster quarter that some had hoped for, both deal volume and average deal size jumped decisively over last quarter (77% and 24% respectively). We congratulate all of the active members of the PIPE community for continued success in 2012. Most of these firms are long-time clients of PlacementTracker, and we are dedicated to providing them with access to data on our ever-changing industry."
PlacementTracker's dynamically updating League Tables are available online at: http://www.placementtracker.com/leaguetables.cfm.
| The 2011 U.S. PIPE Market Investment Banking League Table | ||
| By Number of Transactions (through 4/09/12): | ||
| Placement Agent Name | Transaction Count | Total Amount Placed |
| Rodman & Renshaw, LLC | 15 | $ 311,831,772 |
| Roth Capital Partners, LLC | 14 | $ 449,092,750 |
| Leerink Swann, LLC | 8 | $ 593,393,577 |
| Jefferies & Company, Inc. | 8 | $ 522,787,500 |
| Lazard | 8 | $ 426,202,388 |
| Stifel Nicolaus Weisel | 8 | $ 329,924,504 |
| Cowen and Company, LLC | 7 | $ 541,283,304 |
| JMP Securities LLC | 6 | $ 399,495,005 |
| Piper Jaffray & Co. | 5 | $ 268,853,635 |
| Ladenburg Thalmann & Co., Inc. | 5 | $ 111,652,917 |
| Barclays Capital, Inc. | 4 | $ 920,000,624 |
| Oppenheimer & Co. Inc. | 4 | $ 301,875,000 |
| Canaccord Genuity Inc. (US) | 4 | $ 132,038,750 |
| Aegis Capital Corporation | 4 | $ 70,369,498 |
| Wells Fargo Securities, LLC | 3 | $ 496,675,024 |
| J.P. Morgan Chase & Co. | 3 | $ 187,594,903 |
| Wedbush PacGrow Life Sciences | 3 | $ 151,488,918 |
| William Blair & Company, LLC | 3 | $ 128,519,500 |
| Craig-Hallum Capital Group LLC | 3 | $ 104,888,705 |
| National Securities Corporation | 3 | $ 59,042,419 |
| Credit Suisse Securities (USA) LLC | 2 | $ 2,050,000,003 |
| Goldman, Sachs & Co. | 2 | $ 469,575,599 |
| Collins Stewart Inc. | 2 | $ 133,094,885 |
| Citigroup Global Markets, Inc. | 2 | $ 101,922,503 |
| Sandler O'Neil & Partners, L.P. | 2 | $ 47,300,000 |
|
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 4/09/12. |
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| The 2011 U.S. PIPE Market Investment Banking League Table | ||
| By Total Amount Placed (through 4/09/12): | ||
| Placement Agent Name | Transaction Count | Total Amount Placed |
| Credit Suisse Securities (USA) LLC | 2 | $ 2,050,000,003 |
| Barclays Capital, Inc. | 4 | $ 920,000,624 |
| Leerink Swann, LLC | 8 | $ 593,393,577 |
| Cowen and Company, LLC | 7 | $ 541,283,304 |
| Jefferies & Company, Inc. | 8 | $ 522,787,500 |
| Wells Fargo Securities, LLC | 3 | $ 496,675,024 |
| Goldman, Sachs & Co. | 2 | $ 469,575,599 |
| Roth Capital Partners, LLC | 14 | $ 449,092,750 |
| Lazard | 8 | $ 426,202,388 |
| JMP Securities LLC | 6 | $ 399,495,005 |
| Stifel Nicolaus Weisel | 8 | $ 329,924,504 |
| Oppenheimer & Co. Inc. | 4 | $ 301,875,000 |
| Rodman & Renshaw, LLC | 15 | $ 311,831,772 |
| Piper Jaffray & Co. | 5 | $ 268,853,635 |
| Raymond James & Associates Inc. | 1 | $ 200,000,000 |
| J.P. Morgan Chase & Co. | 3 | $ 187,594,903 |
| Mizuho Securities Co., Limited | 1 | $ 166,175,000 |
| Wedbush PacGrow Life Sciences | 3 | $ 151,488,918 |
| Canaccord Genuity Inc. (US) | 4 | $ 132,038,750 |
| William Blair & Company, LLC | 3 | $ 128,519,500 |
| Collins Stewart Inc. | 2 | $ 133,094,885 |
| Ladenburg Thalmann & Co., Inc. | 5 | $ 111,652,917 |
| Craig-Hallum Capital Group LLC | 3 | $ 104,888,705 |
| Citigroup Global Markets, Inc. | 2 | $ 101,922,503 |
| Morgan Stanley | 1 | $ 90,000,018 |
| 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 4/09/12. | ||
| The 2011 U.S. PIPE Market Institutional Investor League Table | ||
| By Number of Transactions (through 4/09/12): | ||
| Investor Name | Transaction Count | Total Amount Invested |
| Heights Capital Management, Inc. | 9 | $ 38,427,499 |
| Iroquois Capital L.P. | 9 | $ 4,637,001 |
| Downsview Capital, Inc. | 7 | $ 1,544,991 |
| Empery Asset Management LP | 6 | $ 15,482,060 |
| Fidelity Management & Research Corporation | 5 | $ 101,196,825 |
| Deerfield Management | 5 | $ 35,600,000 |
| Hudson Bay Capital Management L.P. | 5 | $ 10,625,000 |
| Frost Group, LLC (The) | 5 | $ 4,500,000 |
| Kingsbrook Partners, LP | 5 | $ 1,362,800 |
| Tang Capital Management, LLC | 4 | $ 22,435,190 |
| Brio Capital Management LLC | 3 | $ 600,000 |
| BDT Capital Partners LLC, Investment Arm | 2 | $ 680,000,037 |
| Total Group (The) | 2 | $ 163,680,000 |
| Baron Capital, Inc. | 2 | $ 85,080,318 |
| Portfolio Services Limited | 2 | $ 46,501,000 |
| Baker Brothers Advisors, LLC | 2 | $ 35,300,000 |
| GE Capital | 2 | $ 20,000,000 |
| Quaker BioVentures, Inc. | 2 | $ 19,999,989 |
| Castle Creek Partners LLC | 2 | $ 18,000,000 |
| Stadium Capital Management, LLC | 2 | $ 18,000,000 |
| Senator Investment Group LP | 2 | $ 16,000,000 |
| UBS O'Connor LLC | 2 | $ 8,749,996 |
| Ayer Capital Partners | 2 | $ 8,000,000 |
| FCMI Financial Corporation | 2 | $ 6,404,000 |
| AWM Investment Management (MGP Advisors, LLC) | 2 | $ 6,150,000 |
|
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 4/09/12. |
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| The 2011 PIPE Market Issuer Counsel League Table | ||
| By Number of Transactions (through 4/09/12): | ||
| Legal Counsel | Transaction Count | Total Amount Advised |
| Cooley LLP | 13 | $ 691,210,824 |
| Sichenzia Ross Friedman Ference, LLP | 7 | $ 25,519,962 |
| Jones Day | 3 | $ 178,305,000 |
| Dorsey & Whitney, LLP | 3 | $ 128,477,000 |
| Wilson Sonsini Goodrich & Rosati | 3 | $ 51,823,210 |
| Morrison & Foerster, LLP | 3 | $ 45,166,844 |
| Morgan, Lewis & Bockius, LLP | 3 | $ 13,575,000 |
| Anslow & Jaclin, LLP | 3 | $ 5,882,500 |
| Skadden, Arps, Slate, Meagher & Flom, LLP | 2 | $ 805,000,055 |
| Ropes & Gray | 2 | $ 110,000,020 |
| Fenwick & West, LLP | 2 | $ 82,476,961 |
| Goodwin Procter, LLP | 2 | $ 54,951,000 |
| Lowenstein Sandler, PC | 2 | $ 52,488,750 |
| Graham & Dunn PC | 2 | $ 47,300,000 |
| Blank Rome LLP | 2 | $ 25,000,001 |
| McDonald Carano Wilson LLP | 2 | $ 25,000,001 |
| DLA Piper | 2 | $ 14,269,000 |
| Blake, Cassels & Graydon LLP | 2 | $ 6,984,362 |
| Greenberg Traurig, LLP | 2 | $ 5,271,497 |
| K&L Gates LLP | 2 | $ 4,700,001 |
| Pryor Cashman Sherman & Flynn, LLP | 2 | $ 2,700,002 |
| McAfee & Taft | 1 | $ 275,000,000 |
| Vinson & Elkins, LLP | 1 | $ 250,000,024 |
| Stradling, Yocca, Carlson & Rauth, PC | 1 | $ 225,000,001 |
| Moss & Barnett | 1 | $ 200,000,000 |
| 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 Pink Sheets. Data is for closed and definitive agreement transactions reported as of 4/09/12. | ||
| The 2011 PIPE Market Investor Counsel League Table | ||
| By Number of Transactions (through 4/09/12): | ||
| Legal Counsel | Transaction Count | Total Amount Advised |
| Schulte Roth & Zabel, LLP | 24 | $ 1,328,434,662 |
| Greenberg Traurig, LLP | 5 | $ 19,090,359 |
| Ellenoff Grossman & Schole LLP | 3 | $ 22,260,000 |
| Munger, Tolles & Olson, LLP | 2 | $ 805,000,055 |
| Skadden, Arps, Slate, Meagher & Flom, LLP | 2 | $ 79,848,903 |
| Sullivan & Cromwell | 2 | $ 47,300,000 |
| Katten Muchin Rosenman, LLP | 2 | $ 33,000,000 |
| Grushko & Mittman, PC | 2 | $ 3,390,000 |
| DLA Piper | 1 | $ 465,000,031 |
| Thompson & Knight, LLP | 1 | $ 275,000,000 |
| Wilson Sonsini Goodrich & Rosati | 1 | $ 163,680,000 |
| Lakatos, Köves and Partners | 1 | $ 100,000,000 |
| Liner Grode Stein LLP | 1 | $ 45,000,000 |
| Vinson & Elkins, LLP | 1 | $ 40,001,000 |
| Buchanan Ingersoll & Rooney, PC | 1 | $ 34,848,903 |
| Davis Graham & Stubbs, LLP | 1 | $ 30,000,000 |
| Goodwin Procter, LLP | 1 | $ 24,999,961 |
| Zang, Bergel & Viñes Abogados | 1 | $ 21,000,000 |
| Patton Boggs, LLP | 1 | $ 20,000,000 |
| Latham & Watkins, LLP | 1 | $ 9,749,100 |
| Borden, Ladner, Gervais, LLP | 1 | $ 7,499,940 |
| Kirkland & Ellis | 1 | $ 5,000,000 |
| McLane, Graf, Raulerson & Middleton | 1 | $ 5,000,000 |
| Lowenstein Sandler, PC | 1 | $ 4,251,497 |
| Ropes & Gray | 1 | $ 1,750,000 |
| 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 4/09/12. | ||
| The 2011 PIPE Market Placement Agent Counsel League Table | ||
| By Number of Transactions (through 4/09/12): | ||
| Legal Counsel | Transaction Count | Total Amount Advised |
| Ellenoff Grossman & Schole LLP | 14 | $ 75,134,269 |
| Goodwin Procter, LLP | 10 | $ 362,060,286 |
| Latham & Watkins, LLP | 9 | $ 620,396,138 |
| Proskauer Rose, LLP | 6 | $ 158,955,503 |
| Lowenstein Sandler, PC | 5 | $ 40,559,001 |
| Sullivan & Cromwell | 2 | $ 136,418,750 |
| Dewey & LeBoeuf LLP | 2 | $ 81,908,750 |
| Andrews Kurth, LLP | 1 | $ 250,000,024 |
| Morrison & Foerster, LLP | 1 | $ 200,000,000 |
| Willkie, Farr & Gallagher | 1 | $ 90,000,018 |
| Gibson, Dunn & Crutcher, LLP | 1 | $ 41,944,500 |
| Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC | 1 | $ 23,699,056 |
| Goodmans, LLP | 1 | $ 17,274,495 |
| Dickinson Wright, PLLC | 1 | $ 17,274,495 |
| Jones Day | 1 | $ 17,250,001 |
| Loeb & Loeb, LLP | 1 | $ 15,925,950 |
| Ropes & Gray | 1 | $ 15,000,150 |
| Littman Krooks, LLP | 1 | $ 13,722,608 |
| Lewis, Rice & Fingersh, L.C. | 1 | $ 12,600,000 |
| Schulte Roth & Zabel, LLP | 1 | $ 11,085,917 |
| Duane Morris, LLP | 1 | $ 9,397,796 |
| Zysman, Aharoni, Gayer & Company Law Offices | 1 | $ 7,475,000 |
| Faegre & Benson, LLP | 1 | $ 5,216,205 |
| Morgan, Lewis & Bockius, LLP | 1 | $ 4,251,497 |
| Golenbock Eiseman Assor Bell & Peskoe | 1 | $ 3,000,001 |
| 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 4/09/12. | ||
About Sagient Research Systems
Sagient Research Systems is a publisher of specialized research and data. We develop, produce, and sell proprietary research products to global enterprises, including investment banks, mutual and hedge funds, pharmaceutical companies, academic institutions, and government agencies. Our business strategy is to continue to leverage our development, technology, and marketing expertise to solidify our position as a leading provider of independent research. In each of 2007, 2008, 2009, and 2010, 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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