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PlacementTracker
Publishes PIPE Market League Tables
San Diego
– April 24, 2007- 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 number
one most active investment bank and Iroquois Capital, L.P. ranked as
the number one most active institutional investor in the PIPE
market during the first quarter of 2007.
PlacementTracker
also announced that Sichenzia Ross Friedman Ference, LLP ranked as
the number one most active issuer counsel and Schulte Roth &
Zabel, LLP ranked as the number one most active investor counsel in
the PIPE market during the first quarter of 2007.
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, “The first
quarter of 2007 was one of the most active periods in the twelve
years that we’ve been analyzing this market.
During the first quarter, we recorded 302 PIPE transactions
totaling $10.92 billion in equity and equity-linked capital raised
(excluding Structured Equity Lines and Canadian issuers).
This represented an astounding 48% increase over the total
amount raised in the market during the first quarter of 2006 and
puts the market on track for yet another record year.
As always, we congratulate all of the active agents,
investors, and legal counsel in the PIPE market for a tremendous
first quarter, 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
2007 PIPE Market Investment Banking League Table
By
Number of Transactions (through 3/31/07):
|
Placement
Agent Name
|
Transaction
Count
|
Total
Amount Placed
|
|
Rodman
& Renshaw, LLC
|
12
|
$
232,128,723.00
|
|
Roth
Capital Partners, LLC
|
7
|
$
69,869,030.00
|
|
UBS
Investment Bank
|
5
|
$
899,096,823.00
|
|
Piper
Jaffray & Co.
|
5
|
$
117,271,028.00
|
|
Oppenheimer
& Co., Inc.
|
5
|
$
88,669,988.00
|
|
Banc
of
America
Securities, LLC
|
4
|
$
229,558,200.00
|
|
Sanders
Morris Harris, Inc.
|
4
|
$
52,500,796.00
|
|
First
Montauk Securities, Inc.
|
4
|
$
14,430,000.00
|
|
ThinkEquity
Partners, LLC
|
3
|
$
187,931,180.00
|
|
National
Securities Corp.
|
3
|
$
75,750,269.00
|
|
First
Albany
Capital
|
3
|
$
60,287,109.00
|
|
Lazard
|
3
|
$
56,759,278.00
|
|
Maxim
Group, LLC
|
3
|
$
37,547,000.00
|
|
Westminster
Securities Corp.
|
3
|
$
20,062,739.00
|
|
Midtown
Partners & Co., LLC
|
3
|
$
13,255,444.00
|
|
Deutsche
Bank Securities, Inc.
|
2
|
$
339,300,795.00
|
|
Citigroup
Global Markets, Inc.
|
2
|
$
328,959,880.00
|
|
BMO
Capital Markets Corp.
|
2
|
$
165,152,076.00
|
|
A.G.
Edwards, Inc.
|
2
|
$
115,240,000.00
|
|
Cowen
and Company, LLC
|
2
|
$
77,383,838.00
|
|
Leerink
Swann & Co.
|
2
|
$
58,000,000.00
|
|
Merrill
Lynch & Co.
|
2
|
$
50,759,278.00
|
|
Coker,
Palmer, Phillips & Mullen, Inc.
|
2
|
$
50,195,000.00
|
|
Lane
Capital Markets, LLC
|
2
|
$
42,990,000.00
|
|
Brean
Murray, Carret & Co.
|
2
|
$
40,008,449.00
|
Investment
Banking rankings exclude all Equity Line of Credit transactions and
all PIPE transactions conducted by Canadian 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 4/23/07.
The
2007 PIPE Market Institutional Investor League Table
By
Number of Transactions (through 3/31/07):
|
Investor
Name
|
Transaction
Count
|
Total
Amount Invested
|
|
Iroquois
Capital, L.P.
|
19
|
$
16,442,384.00
|
|
Heights
Capital Management, Inc.
|
17
|
$
81,113,503.00
|
|
Enable
Capital Management
|
16
|
$
49,744,567.00
|
|
UBS
Capital
Americas
, LLC
|
12
|
$
38,571,301.00
|
|
Highbridge
International, LLC
|
11
|
$
68,682,578.00
|
|
SF
Capital Partners, Inc.
|
11
|
$
33,454,418.00
|
|
Cornell
Capital Partners, L.P.
|
9
|
$
31,433,651.00
|
|
Hudson Bay
Capital
Management, L.P.
|
9
|
$
15,244,391.00
|
|
Atoll
Asset Management, LLC
|
9
|
$
7,890,023.00
|
|
Downsview
Capital, Inc.
|
9
|
$
6,138,355.00
|
|
Lehman
Brothers, Inc.
|
8
|
$
60,320,718.00
|
|
Roswell
Capital
Partners, LLC
|
8
|
$
12,510,263.00
|
|
Credit
Suisse First Boston Corp.
|
7
|
$
14,517,252.00
|
|
Vision
Capital Advisors, LLC
|
7
|
$
13,788,481.00
|
|
Cantara
(
Switzerland
)
S.A.
|
7
|
$
4,793,679.00
|
|
Heller
Capital Partners
|
7
|
$
4,658,056.00
|
|
Nite
Capital Management, LLC
|
7
|
$
2,399,998.00
|
|
Paramount
BioSciences, LLC
|
7
|
$
1,554,385.00
|
|
Ramius
Capital Group, LLC
|
6
|
$
14,064,754.00
|
|
Fort
Mason Capital
|
6
|
$
13,545,426.00
|
|
Crestview
Capital Partners, LLC
|
6
|
$
9,492,002.00
|
|
GLG
Partners, L.P.
|
5
|
$
20,618,150.00
|
|
MGP
Advisors, LLC
|
5
|
$
14,166,889.00
|
|
Millennium
Management, LLC
|
5
|
$
10,534,000.00
|
|
Whitebox
Advisors, LLC
|
5
|
$
10,126,085.00
|
Investor
rankings exclude all Equity Line of Credit transactions and all PIPE
transactions conducted by Canadian issuers.
Investors classified as Corporate Investors and Insurance
Companies have been excluded from this ranking.
Data is as reported as of 4/23/07.
The
2007 PIPE Market Issuer Counsel League Table
By
Number of Transactions (through 3/31/07):
|
Legal
Counsel
|
Transaction
Count
|
Total
Amount Advised
|
|
Sichenzia
Ross Friedman Ference, LLP
|
11
|
$
47,760,546.00
|
|
Haynes
and Boone, LLP
|
7
|
$
169,890,366.00
|
|
Morgan,
Lewis & Bockius, LLP
|
5
|
$
212,773,743.00
|
|
Greenberg
Traurig, LLP
|
5
|
$
54,587,750.00
|
|
Kirkpatrick
& Lockhart
Preston
Gates Ellis
|
4
|
$
41,191,643.00
|
|
Richardson
& Patel, LLP
|
4
|
$
37,900,000.00
|
|
Mintz,
Levin, Cohn, Ferris, Glovsky & Popeo, PC
|
4
|
$
22,000,000.00
|
|
Wilson
Sonsini Goodrich & Rosati
|
3
|
$
720,000,000.00
|
|
DLA
Piper Rudnick Gray Cary
US
, LLP
|
3
|
$
144,616,006.00
|
|
Cooley
Godward Kronish, LLP
|
3
|
$
45,438,721.00
|
|
Thelen
Reid Brown Raysman & Steiner, LLC
|
3
|
$
39,200,002.00
|
|
Ropes
& Gray
|
3
|
$
39,146,194.00
|
|
Troutman
Sanders, LLP
|
3
|
$
33,970,000.00
|
|
Rutan
& Tucker, LLP
|
3
|
$
10,950,000.00
|
|
Orrick,
Herrington & Sutcliffe, LLP
|
2
|
$
308,719,877.00
|
|
Perkins
Coie, LLP
|
2
|
$
236,200,085.00
|
|
Wilmer
Cutler
Pickering
Hale & Dorr, LLP
|
2
|
$
50,603,877.00
|
|
Hogan
& Hartson, LLP
|
2
|
$
50,195,000.00
|
|
Bull,
Housser & Tupper, LLP
|
2
|
$
50,195,000.00
|
|
Heller
Ehrman, LLP
|
2
|
$
41,500,002.00
|
|
Maslon
Edelman Borman & Brand, LLP
|
2
|
$
39,389,161.00
|
|
Foley
& Lardner
|
2
|
$
33,175,363.00
|
|
Morrison
& Foerster, LLP
|
2
|
$
29,249,999.00
|
|
Skadden,
Arps, Slate, Meagher & Flom, LLP
|
2
|
$
27,499,980.00
|
|
Stradling,
Yocca, Carlson & Rauth, PC
|
2
|
$
20,624,016.00
|
Legal
counsel rankings exclude all Equity Line of Credit transactions and
all PIPE transactions conducted by Canadian issuers.
Data is as reported as of 4/23/07.
The
2007 PIPE Market Investor Counsel League Table
By
Number of Transactions (through 3/31/07):
|
Legal
Counsel
|
Transaction
Count
|
Total
Amount Advised
|
|
Schulte
Roth & Zabel, LLP
|
34
|
$
3,576,805,839.00
|
|
Feldman
Weinstein, LLP
|
6
|
$
46,994,363.00
|
|
Grushko
& Mittman, PC
|
6
|
$
14,455,000.00
|
|
Peter
J. Weisman, PC
|
5
|
$
27,998,453.00
|
|
Simpson
Thacher Bartlett, LLP
|
3
|
$
776,458,987.00
|
|
Pillsbury,
Winthrop, Shaw & Pittman, LLP
|
2
|
$
248,152,077.00
|
|
Shearman
& Sterling, LLP
|
2
|
$
104,048,500.00
|
|
Latham
& Watkins, LLP
|
2
|
$
83,888,500.00
|
|
Proskauer
Rose, LLP
|
2
|
$
51,200,000.00
|
|
Barack,
Ferrazzano, Kirschbaum, Perlman, & Nagelberg, LLP
|
2
|
$
27,900,001.00
|
|
Kramer
Levin Naftalis & Frankel, LLP
|
2
|
$
26,040,000.00
|
|
Lowenstein
Sandler, PC
|
2
|
$
10,500,000.00
|
|
Krieger
& Prager, LLP
|
2
|
$
8,196,250.00
|
|
Olshan
Grundman Frome Rosenzweig & Wolosky
|
2
|
$
7,353,000.00
|
|
O’Melveny
& Myers, LLP
|
1
|
$
355,000,000.00
|
|
Vinson
& Elkins, LLP
|
1
|
$
100,000,048.00
|
|
McCarthy
Tretrault, LLP
|
1
|
$
94,812,500.00
|
|
Baker
& McKenzie
|
1
|
$
76,458,987.00
|
|
Law
Offices of Brian Pusch
|
1
|
$
47,480,180.00
|
|
Cravath,
Swaine & Moore
|
1
|
$
45,000,000.00
|
|
Drinker
Biddle & Reath, LLP
|
1
|
$
25,750,000.00
|
|
Katten
Muchin Rosenman, LLP
|
1
|
$
25,750,000.00
|
|
Thelen
Reid Brown Raysman & Steiner LLC
|
1
|
$
17,500,000.00
|
|
Richards
Kibbe & Orbe LLP
|
1
|
$
15,714,000.00
|
|
Cooley
Godward Kronish LLP
|
1
|
$
15,000,018.00
|
Legal
counsel rankings exclude all Equity Line of Credit transactions and
all PIPE transactions conducted by Canadian issuers.
Data is as reported as of 4/23/07.
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.
Company
Contact
Tassanee
Sukramule
Vice
President
858-200-2395
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