The PIPEs Report Sees Second Largest Year for Small-Cap Equity Financing Capital Since 2001
"The fourth quarter ended the second-biggest dollar year ever for PIPE investing, as the space became increasingly popular to a wider range of companies doing bigger deals," said
Some highlights from the report:
- PIPE offerings had their second-biggest year in terms of dollars raised—$89.97 billion, a 14.8% increase from 2014.
- Deal flow in PIPE transactions in 2015 rose 2.5% compared to 2014, according to PrivateRaise, a service of The Deal.
- The amount of dollars invested in PIPE transactions in the fourth quarter was down 19% when compared to the same period in 2014.
- Despite the technology sector accounting for about one third of the total cash raised in the fourth quarter, healthcare was the most active sector by number of placements, with 40% of the total number of deals in the quarter.
Empery Asset Management LPwas the top-ranked investor in the fourth quarter by number of investments, with 13 deals. Sabby Management LLCranked second, with 11 deals. Heights Capital Management Inc.ranked third, with 8 deals. H.C. Wainwright & Co.was the top-ranked placement agent in the fourth quarter by number of placements, with 15 deals for the quarter. Roth Capital Partners LLCranked second, with 9 deals. Ladenburg Thalmann & Co. ranked third, with 8 deals.
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