SAN DIEGO, Jan. 24, 2006 (PRIMEZONE) -- 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 No. 1 investment bank in the PIPE market in 2005 for total number of transactions, and that Banc of America Securities, LLC ranked as the No. 1 investment bank in the PIPE market for total dollars raised. Nite Capital Management, LLC topped the list of most active institutional investors during 2005.
For the fourth quarter of 2005, Roth Capital Partners, LLC ranked as the No. 1 investment bank in the PIPE market for total number of transactions, and Nite Capital Management, LLC topped the list of most active institutional investors.
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 League Tables, Robert F. Kyle, executive vice president of Sagient Research said, "2005 was another banner year in the PIPE market. During 2005, we recorded 1,298 PIPE transactions totaling $19.93 billion in equity and equity-linked capital raised (excluding Structured Equity Lines and Canadian domiciled issuers). The total transaction count nominally exceeded the 2004 total, but the total capital raised amount increased by 27% (to the highest total since 2000). As always, we congratulate all of the active agents and investors in the PIPE market for a tremendous 2005, especially those leaders who topped the League Tables. Many of these firms are long-time clients of PlacementTracker, and we look forward to continuing to provide them with industry leading data, research, and analytics to help keep them on top of this market."
PlacementTracker's dynamically updating League Tables are available online at: http://www.sagientresearch.com/pt/leaguetables.cfm .
The 2005 PIPE Market Investment Banking League Table By Number of Transactions:
Transaction
Placement Agent Name Count Total Amount Raised
-------------------- ------------ -------------------
Rodman & Renshaw, LLC 29 $ 461,073,233.00
Roth Capital Partners, LLC 26 $ 427,737,565.00
SG Cowen & Co., LLC 20 $ 500,421,735.00
H.C. Wainwright & Co., Inc. 15 $ 75,519,014.00
HPC Capital Management Corp. 13 $ 66,168,890.00
Merriman Curhan Ford & Co. 12 $ 201,817,505.00
C.E. Unterberg, Towbin 12 $ 167,537,407.00
Banc of America Securities, LLC 11 $ 901,969,140.00
Stonegate Securities, Inc. 11 $ 91,385,002.00
Lehman Brothers, Inc. 10 $ 559,801,895.00
RBC Capital Markets, Inc. 10 $ 271,517,429.00
Laidlaw & Company Ltd. 10 $ 45,249,659.00
Ascendiant Securities, LLC 10 $ 29,345,515.00
Leerink Swann & Co. 9 $ 379,497,210.00
Piper Jaffray & Co. 9 $ 195,211,918.00
Griffin Securities, Inc. 9 $ 74,556,496.00
The Shemano Group, Inc. 9 $ 50,940,002.00
Midtown Partners & Co., LLC 9 $ 50,867,778.00
Olympus Securities, LLC 8 $ 87,000,538.00
Westminster Securities Corp. 8 $ 82,366,263.00
Duncan Capital LLC 8 $ 39,500,504.00
Jefferies & Co., Inc. 7 $ 202,544,600.00
Needham & Co., Inc. 7 $ 177,381,272.00
Maxim Group LLC 7 $ 44,634,067.00
UBS Investment Bank 6 $ 530,738,999.00
Investment Banking rankings exclude all Equity Line of Credit transactions and all PIPE transactions conducted by Canadian domiciled issuers. 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 as reported as of 1/20/06.
The 2005 PIPE Market Investment Banking League Table By Dollar Amount Raised:
Transaction Total
Placement Agent Name Count Amount Raised
-------------------- ----------- ----------------
Banc of America Securities, LLC 11 $ 901,969,140.00
Goldman, Sachs & Co. 2 $ 628,000,000.00
Lehman Brothers, Inc. 10 $ 559,801,895.00
UBS Investment Bank 6 $ 530,738,999.00
Deutsche Bank Securities, Inc. 4 $ 528,660,034.00
SG Cowen & Co., LLC 20 $ 500,421,735.00
Credit Suisse First Boston Corp. 3 $ 496,852,400.00
Rodman & Renshaw, LLC 29 $ 461,073,233.00
Citigroup Global Markets, Inc. 3 $ 440,612,400.00
Tejas Securities Group, Inc. 3 $ 436,500,000.00
Roth Capital Partners, LLC 26 $ 427,737,565.00
Leerink Swann & Co. 9 $ 379,497,210.00
Friedman, Billings, Ramsey & Co. 3 $ 338,904,720.00
J.P. Morgan Chase & Co. 5 $ 335,387,732.00
RBC Capital Markets, Inc. 10 $ 271,517,429.00
Jefferies & Co., Inc. 7 $ 202,544,600.00
Merriman Curhan Ford & Co. 12 $ 201,817,505.00
Piper Jaffray & Co. 9 $ 195,211,918.00
Needham & Company, Inc. 7 $ 177,381,272.00
Wachovia Securities, Inc. 1 $ 175,000,132.00
A.G. Edwards & Sons, Inc. 6 $ 172,327,069.00
C.E. Unterberg, Towbin 12 $ 167,537,407.00
Hibernia Southcoast Capital 3 $ 163,779,000.00
Cohen & Steers Capital Advisors 4 $ 156,396,750.00
Robert W. Baird & Co. 4 $ 154,800,000.00
Investment Banking rankings exclude all Equity Line of Credit transactions and all PIPE transactions conducted by Canadian domiciled issuers. 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 as reported as of 1/20/06.
The 2005 PIPE Market Institutional Investor League Table By Number of Transactions:
Transaction Total
Investor Name Count Amount Invested
------------- ------------ ----------------
Nite Capital Management, LLC 97 $ 27,837,013.00
Iroquois Capital, L.P. 85 $ 82,593,329.00
Omicron Capital, L.P. 72 $ 81,428,644.00
LH Financial Services Corp. 72 $ 32,897,251.00
Highbridge International, LLC 64 $ 218,462,215.00
Enable Capital Management 59 $ 35,632,730.00
Laurus Family of Funds 53 $ 222,000,000.00
Downsview Capital, Inc. 49 $ 33,764,235.00
NIR Group, LLC 48 $ 97,727,500.00
Whalehaven Fund, Ltd. 42 $ 16,315,265.00
Crestview Capital Partners, LLC 39 $ 78,760,282.00
Cornell Capital Partners, L.P. 38 $ 152,762,672.00
SF Capital Partners, Inc. 37 $ 77,972,253.00
Ramius Capital Group, LLC 34 $ 51,428,579.00
DKR Management Company, Inc. 34 $ 41,898,260.00
Heights Capital Management, Inc. 33 $ 40,823,055.00
Atoll Asset Management, LLC 32 $ 33,960,518.00
Bristol Capital Advisors, LLC 32 $ 19,977,421.00
Cantara (Switzerland) SA 31 $ 12,053,483.00
Gryphon Partners, L.P. 29 $ 45,775,401.00
Bushido Capital Partners, Ltd. 27 $ 16,548,936.00
Double U Master Fund, L.P. 26 $ 22,476,680.00
MGP Advisors, LLC 25 $ 106,432,575.00
SRB Greenway Capital, L.P. 25 $ 24,655,514.00
Titan Capital Management 24 $ 3,904,305.00
Investor rankings exclude all Equity Line of Credit transactions and all PIPE transactions conducted by Canadian domiciled issuers. Investors classified as Corporate Investors and Insurance Companies have been excluded from this ranking. Data is as reported as of 1/20/06.
About Sagient Research Systems
Sagient Research Systems is a publisher of independent research. We develop, produce, and sell proprietary research products to mutual funds, hedge funds, and investment banks. 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 to the financial services and institutional investment communities. For more information, please visit the Sagient Research Systems website at www.sagientresearch.com .