2012 U.S. PIPE Market Investment Banking (First Half 2012)

SAN DIEGO, Jul 13, 2012 (GlobeNewswire via COMTEX) — Sagient Research Systems, a leading publisher of independent research for the financial services and institutional investment communities, today announced that Roth Capital Partners, 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 half 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 Goodwin Procter, LLP ranked as the number one most active placement agent counsel in the U.S. PIPE market through the first half 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 half of 2012, a total of $12.4 billion was raised in 475 transactions (of this amount, 28 transactions totaling $94 million have been announced but not yet closed as of 7/11/12). This compares to $13.9 billion raised through 573 transactions during the first half of 2011. Concerns over Europe and the global economy have prevented the bounce back for the capital markets in 2012 that many in our industry had foreseen earlier in the year. However, the trend towards larger, quality deals in the private placement market continued, with average deal size up 14% over the same period a year ago. 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 continuing to provide them with market leading data and analytics for our ever-changing industry.”

PlacementTracker’s dynamically updating League Tables are available online at: http://www.placementtracker.com/pt/leaguetables.cfm .

             The First Half 2012 U.S. PIPE Market Investment Banking
                                  League Table
                  By Number of Transactions (through 7/11/12):

                                          Transa
                                           ction
          Placement Agent Name             Count   Total Amount Placed
          Roth Capital Partners, LLC        25           $ 594,955,389
          Rodman & Renshaw, LLC             24           $ 395,988,547
          Cowen and Company, LLC            18           $ 889,628,078
          JMP Securities LLC                16           $ 595,869,049
          Jefferies & Company, Inc.         14           $ 833,313,000
          Leerink Swann, LLC                12           $ 720,064,077
          Lazard                            11           $ 528,742,388
          Piper Jaffray & Co.               10           $ 489,453,135
          Stifel Nicolaus Weisel            10           $ 424,310,754
          Canaccord Genuity Inc. (US)       10           $ 312,074,278
          Aegis Capital Corporation         10           $ 128,093,501
          Oppenheimer & Co. Inc.             9           $ 379,225,000
          Ladenburg Thalmann & Co., Inc.     8           $ 178,586,417
          Craig-Hallum Capital Group LLC     7          $  133,358,705
          Maxim Group LLC                    7           $ 121,770,099
          Wedbush PacGrow Life Sciences      6           $ 292,788,928
          Barclays Capital, Inc.             5           $ 978,500,624
          J.P. Morgan Chase & Co.            5           $ 312,119,903
          William Blair & Company, LLC       5           $ 147,037,530
          Needham & Company, LLC             5           $ 141,128,818
          Global Hunter Securities, LLC      5           $ 109,489,884
          Chardan Capital Markets            5            $ 18,736,500
          Sandler O'Neill & Partners,
           L.P.                              4           $ 132,984,000
          National Securities
           Corporation                       4            $ 60,042,419
          Merriman Capital, Inc              4            $ 34,130,212

          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 7/11/12.

#pipe, #investment banking

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