San Diego, April 8, 2014 (GLOBE NEWSWIRE) -- PlacementTracker, the leading source for data and analysis on 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 quarter of 2014
Through the end of the first quarter, a total of $8.1 billion was raised in 263 transactions in the U.S. PIPE market. Of this amount, 4 transactions totaling $92 million have been announced but not yet closed as of 4/02/14. The totals represent a significant increase in first quarter deal volume year over year, with 2014 shaping up to be a year of continued growth.
Highlights Include:
- Roth Capital Partners, LLC ranked as the number one most active investment bank
- LH Financial Services Corporation ranked as the number one most active institutional investor
- Cooley LLP ranked as the number one most active issuer counsel
- Schulte Roth & Zabel, LLP ranked as the number one most active investor counsel
- Ellenoff Grossman & Schole LLP ranked as the number one most active placement agent counsel
The Q1 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 | 17 | $ 637,120,115 |
| Cowen and Company, LLC | 14 | $ 689,938,258 |
| Maxim Group LLC | 14 | $ 374,928,830 |
| H.C. Wainwright & Co., LLC | 12 | $ 335,045,561 |
| Canaccord Genuity Inc. (US) | 9 | $ 287,264,731 |
| Jefferies & Company, Inc. | 8 | $ 671,552,500 |
| Piper Jaffray & Co. | 8 | $ 512,823,023 |
| Ladenburg Thalmann & Co., Inc. | 8 | $ 442,171,696 |
| Needham & Company, LLC | 6 | $ 402,487,000 |
| Oppenheimer & Co. Inc. | 6 | $ 339,602,893 |
| Stifel Nicolaus Weisel | 6 | $ 275,063,531 |
| Craig-Hallum Capital Group LLC | 6 | $ 111,119,313 |
| Northland Securities, Inc. | 6 | $ 20,987,499 |
| Barclays Capital, Inc. | 5 | $ 578,508,750 |
| JMP Securities LLC | 5 | $ 455,586,300 |
| BMO Capital Markets Corp. | 5 | $ 111,973,182 |
| MLV & Co. LLC | 4 | $ 209,156,263 |
| Brean Capital, LLC | 4 | $ 114,736,612 |
| Aegis Capital Corporation | 4 | $ 110,813,000 |
| Chardan Capital Markets | 4 | $ 105,280,246 |
| T.R. Winston & Company, Inc. | 4 | $ 43,968,036 |
| Dawson James Securities, Inc. | 4 | $ 28,950,259 |
| Palladium Capital Advisors, LLC | 4 | $ 9,034,995 |
| William Blair & Company, LLC | 3 | $ 143,056,263 |
| National Securities Corporation | 3 | $ 85,978,250 |
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 4/02/14.
The Q1 2014 U.S. PIPE Market
Investment Banking League Table
By Total Amount Placed:
| Placement Agent Name | Transaction Count | Total Amount Placed |
| Cowen and Company, LLC | 14 | $ 689,938,258 |
| Jefferies & Company, Inc. | 8 | $ 671,552,500 |
| Roth Capital Partners, LLC | 17 | $ 637,120,115 |
| Barclays Capital, Inc. | 5 | $ 578,508,750 |
| Piper Jaffray & Co. | 8 | $ 512,823,023 |
| JMP Securities LLC | 5 | $ 455,586,300 |
| Ladenburg Thalmann & Co., Inc. | 8 | $ 442,171,696 |
| Needham & Company, LLC | 6 | $ 402,487,000 |
| Maxim Group LLC | 14 | $ 374,928,830 |
| Oppenheimer & Co. Inc. | 6 | $ 339,602,893 |
| H.C. Wainwright & Co., LLC | 12 | $ 335,045,561 |
| Canaccord Genuity Inc. (US) | 9 | $ 287,264,731 |
| Stifel Nicolaus Weisel | 6 | $ 275,063,531 |
| DnB NOR Markets | 1 | $ 227,250,000 |
| RS Platou Markets AS | 1 | $ 227,250,000 |
| MLV & Co. LLC | 4 | $ 209,156,263 |
| J.P. Morgan Chase & Co. | 1 | $ 182,400,000 |
| Deutsche Bank Securities, Inc. | 2 | $ 149,958,750 |
| William Blair & Company, LLC | 3 | $ 143,056,263 |
| Lazard | 2 | $ 131,500,000 |
| Wedbush PacGrow Life Sciences | 2 | $ 125,350,000 |
| Brean Capital, LLC | 4 | $ 114,736,612 |
| Leerink Swann, LLC | 2 | $ 113,379,531 |
| BMO Capital Markets Corp. | 5 | $ 111,973,182 |
| Craig-Hallum Capital Group LLC | 6 | $ 111,119,313 |
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 4/02/14.
The Q1 2014 U.S. PIPE Market
Institutional Investor League Table
By Number of Transactions:
| Investor Name | Transaction Count | Total Amount Invested |
| LH Financial Services Corporation | 8 | $ 11,525,497 |
| Hudson Bay Capital Management L.P. | 6 | $ 33,554,000 |
| Sabby Management, LLC | 6 | $ 15,767,849 |
| Empery Asset Management LP | 6 | $ 12,235,539 |
| RA Capital Management, LLC | 4 | $ 10,297,002 |
| Heights Capital Management, Inc. | 4 | $ 4,045,189 |
| Whitebox Advisors, LLC | 3 | $ 29,988,330 |
| Baker Brothers Advisors, LLC | 3 | $ 17,000,006 |
| Downsview Capital, Inc. | 3 | $ 2,765,108 |
| Anson Capital, LP | 3 | $ 2,500,000 |
| Equitec Group, LLC | 3 | $ 699,992 |
| Genzyme Corporation (NASDAQ-GS: GENZ) | 2 | $ 723,036,682 |
| Temasek Holdings | 2 | $ 525,000,010 |
| Sycamore Partners | 2 | $ 150,000,000 |
| Avenue Investments, LP | 2 | $ 34,999,980 |
| OrbiMed Advisors, LLC | 2 | $ 15,000,010 |
| Deerfield Management | 2 | $ 12,499,998 |
| Broadfin Capital, LLC | 2 | $ 6,403,161 |
| Longwood Investment Advisors, Inc. | 2 | $ 5,500,000 |
| NNA of Nevada, Inc. | 2 | $ 4,000,000 |
| Kopple Financial, Inc. | 2 | $ 3,000,000 |
| Alyeska Investment Group, L.P. | 2 | $ 2,000,000 |
| Iroquois Capital L.P. | 2 | $ 1,651,000 |
| Sphera Funds Management Ltd. | 2 | $ 1,000,000 |
| AWM Investment Management (MGP Advisors, LLC) | 2 | $ 807,840 |
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 4/02/14.
The Q1 2014 PIPE Market
Issuer Counsel League Table
By Number of Transactions:
| Legal Counsel | Transaction Count | Total Amount Advised | |
| Cooley LLP | 10 | $ 495,202,543 | |
| Sichenzia Ross Friedman Ference, LLP | 6 | $ 55,037,322 | |
| Ropes & Gray | 5 | $ 167,938,312 | |
| Hogan Lovells | 5 | $ 103,501,988 | |
| Wilmer Cutler Pickering Hale & Dorr, LLP | 4 | $ 671,836,329 | |
| Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC | 4 | $ 140,636,303 | |
| Ellenoff Grossman & Schole LLP | 4 | $ 78,921,679 | |
| Szaferman Lakind Blumstein & Blader, PC | 4 | $ 9,000,500 | |
| Troutman Sanders, LLP | 3 | $ 166,020,375 | |
| Seward & Kissel LLP | 3 | $ 88,106,250 | |
| Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, LLP | 3 | $ 71,993,678 | |
| Morrison & Foerster, LLP | 3 | $ 35,135,008 | |
| K&L Gates LLP | 3 | $ 25,750,000 | |
| Cravath, Swaine & Moore | 2 | $ 263,749,995 | |
| Reeder & Simpson P.C. | 2 | $ 260,249,998 | |
| Weil, Gotshal & Manges, LLP | 2 | $ 150,000,000 | |
| Fulbright & Jaworski, LLP | 2 | $ 59,200,000 | |
| O'Melveny & Myers, LLP | 2 | $ 55,249,997 | |
| Goodwin Procter, LLP | 2 | $ 52,400,006 | |
| Dechert, LLP | 2 | $ 43,749,736 | |
| Lowenstein Sandler, PC | 2 | $ 25,990,375 | |
| Jones Day | 2 | $ 22,150,000 | |
| Robinson Brog Leinwand Greene Genovese & Gluck P.C. | 2 | $ 17,400,000 | |
| Schwell Wimpfheimer & Associates LLP | 2 | $ 16,521,875 | |
| Reed Smith, LLP | 2 | $ 16,131,000 | |
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 4/02/14.
The Q1 2014 PIPE Market
Investor Counsel League Table
By Number of Transactions:
| Legal Counsel | Transaction Count | Total Amount Advised | ||
| Schulte Roth & Zabel, LLP | 16 | $ 878,892,898 | ||
| Ellenoff Grossman & Schole LLP | 6 | $ 12,710,058 | ||
| Greenberg Traurig, LLP | 5 | $ 52,458,510 | ||
| Sichenzia Ross Friedman Ference, LLP | 2 | $ 15,361,278 | ||
| Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC | 2 | $ 9,280,000 | ||
| Skadden, Arps, Slate, Meagher & Flom, LLP | 1 | $ 1,250,976,742 | ||
| Cleary, Gottlieb, Steen & Hamilton | 1 | $ 500,000,010 | ||
| Simpson Thacher Bartlett, LLP | 1 | $ 198,000,000 | ||
| Ropes & Gray | 1 | $ 106,731,567 | ||
| Seward & Kissel LLP | 1 | $ 44,100,000 | ||
| Watson, Farley & Williams LLP | 1 | $ 30,700,000 | ||
| Lowenstein Sandler, PC | 1 | $ 15,000,000 | ||
| Luse Gorman Pomerenk & Schick, PC | 1 | $ 10,000,000 | ||
| Troutman Sanders, LLP | 1 | $ 6,999,990 | ||
| Robinson Brog Leinwand Greene Genovese & Gluck P.C. | 1 | $ 6,550,000 | ||
| David Gonzalez, Esq. | 1 | $ 2,000,000 | ||
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 4/02/14.
The Q1 2014 PIPE Market
Placement Agent Counsel League Table
By Number of Transactions:
| Legal Counsel | Transaction Count | Total Amount Advised |
| Ellenoff Grossman & Schole LLP | 19 | $ 265,801,970 |
| Goodwin Procter, LLP | 13 | $ 631,782,160 |
| Lowenstein Sandler, PC | 7 | $ 150,454,604 |
| Latham & Watkins, LLP | 5 | $ 430,414,930 |
| Faegre Baker Daniels LLP | 5 | $ 20,285,508 |
| Sichenzia Ross Friedman Ference, LLP | 4 | $ 22,500,000 |
| Morrison & Foerster, LLP | 3 | $ 119,855,013 |
| Proskauer Rose, LLP | 3 | $ 108,724,998 |
| Dechert, LLP | 2 | $ 103,356,362 |
| Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC | 2 | $ 72,705,875 |
| Stikeman Elliott LLP | 2 | $ 41,950,000 |
| Blank Rome LLP | 2 | $ 34,076,000 |
| Choate, Hall & Stewart, LLP | 2 | $ 28,221,875 |
| Schiff Hardin & Waite | 2 | $ 17,753,904 |
| Schulte Roth & Zabel, LLP | 2 | $ 9,245,749 |
| Reed Smith, LLP | 2 | $ 8,333,000 |
| Fried, Frank, Harris, Shriver & Jacobson | 1 | $ 227,250,000 |
| Taylor Wessing | 1 | $ 105,300,000 |
| Davis Polk & Wardwell LLP | 1 | $ 103,500,000 |
| Covington & Burling | 1 | $ 85,100,000 |
| Sullivan & Cromwell | 1 | $ 80,000,000 |
| Gornitzky & Co. | 1 | $ 72,450,000 |
| White & Case, LLP | 1 | $ 58,650,000 |
| Meitar Liquornik Geva Leshem Tal, Ramat Gan | 1 | $ 58,650,000 |
| Cooley LLP | 1 | $ 43.125,000 |
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 4/02/14.
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transactions & investors, Perform quick transaction pricing,
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transaction, investor & agent statistics. PlacementTracker's
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at: http://www.placementtracker.com/leaguetables.cfm.
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