NEW YORK, July 14, 2016 /PRNewswire/ -- The PIPEs Report, a service of The Deal (a business unit of TheStreet Inc. (NASDAQ: TST)), that covers the private-investment-in-public-equity financing market, has issued a quarterly report showing the PIPE market doubled the amount raised from Q1, after recovering from the volatile quarter. Data is sourced from PrivateRaise, a service of The Deal that tracks PIPEs that raise at least $1 million.
"Despite some powerful macroeconomic headwinds, the PIPE market staged a recovery from a slow first quarter as transaction volume increased more than 50% quarter over quarter and dollar volume doubled," said Paul Springer, senior reporter at The Deal. "Brexit fears impacting some financial markets are having no effect on the PIPE space in the third quarter, as numerous healthcare deals and a pickup in smaller energy company financings create robust deal flow."
Some highlights from the report:
There were 345 transactions in the second quarter representing efforts to raise $25.98 billion, a sum representing an increase of over 100% beyond the first quarter's deals.
Some 345 second-quarter PIPE deals represented a 56% increase over the first quarter and a 12.75% increase over the second quarter of 2015.
The biggest jump in second-quarter transactions was in offerings from issuers with a market cap under $50 million, which accounted for 156 deals, more than a 50% increase from the previous quarter.
Sabby Management LLC was the top-ranked investor in the second quarter by number of investments, with 12 deals. IntraCoastal Capital LLC ranked second, with seven deals. Empery Asset Management LP ranked third, with six deals.
H.C. Wainwright & Co. was the top-ranked placement agent in the second quarter by number of placements, with 29 deals for the quarter. Roth Capital Partners LLC ranked second, with fourteen. Cowen and Company LLC ranked third, with nine deals.
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Contact: Ashley Klepach, 212.321.5048, ashley.klepach at thestreet.com