PlacementTracker Publishes 2019 PIPE and Private Placement Markets League Tables
NEW YORK, Jan. 22, 2020 /PRNewswire/ -- PlacementTracker, the leading source for data and analysis to institutions in the PIPE and Private Placement markets, today announced the most active investment banks, investors, and law firms in the U.S. PIPE and Private Placement markets for 2019.
A total of $48.8 billion was raised in 1,033 transactions throughout 2019. Of this amount, 5 transactions totaling $465 million have been announced but not yet closed as of 01/21/2020. Deal volume increased a whopping 18% (875 deals in 2018) and dollar volume increased nearly 10% ($44.4 billion in 2018).
We congratulate all the active members of the private placement community, many of whom are long-time clients of PlacementTracker. We are dedicated to providing access to the very best data and analytics available in our industry.
Most Active Participants Include:
-- H.C. Wainwright & Co., LLC as the most active placement agent
-- Armistice Capital as the most active institutional investor
-- Cooley LLP as the most active issuer counsel
-- Schulte Roth & Zabel, LLP as the most active investor counsel
-- Ellenoff Grossman & Schole LLP as the most active placement agent
counsel
-- Jefferies & Company, Inc. as most active Agent for At-the Market (ATM)
transactions
-- Lincoln Park Capital as most active investor for Structured Equity Lines
(SELs)
The 2019 U.S. PIPE and Private Placement Markets
Investment Banking League Table by Number of Transactions:
---
Placement Agent Name Transaction Count
Total Amount Placed
--- ---
H.C. Wainwright & Co., LLC 115 $2,006,800,427
Roth Capital Partners, LLC 37 $841,079,079
Cowen and Company, LLC 36 $2,075,995,674
Oppenheimer & Co. Inc. 31 $1,054,612,785
Maxim Group LLC 31 $267,987,603
Cantor Fitzgerald & Company 26 $1,200,747,915
Ladenburg Thalmann & Co., Inc. 26 $824,987,559
Jefferies & Company, Inc. 23 $1,718,065,975
Piper Sandler & Co. 22 $1,120,547,643
William Blair & Company, LLC 19 $720,741,511
SVB Leerink LLC 16 $1,349,798,479
JMP Securities LLC 16 $476,603,807
National Securities Corporation 15 $173,690,170
Canaccord Genuity Inc. (US) 14 $567,325,679
Craig-Hallum Capital Group LLC 14 $327,516,904
Sandler O'Neill & Partners, L.P. 13 $391,449,770
Citigroup Global Markets, Inc. 12 $2,201,104,198
Stifel, Nicolaus & Company, Inc. 12 $1,014,392,379
Aegis Capital Corporation 12 $155,183,708
A.G.P./Alliance Global Partners 11 $233,463,219
Dawson James Securities, Inc. 11 $70,952,711
ThinkEquity, A division of Fordham Financial 10 $170,514,020
Guggenheim Securities, LLC 9 $1,612,465,871
SunTrust Robinson Humphrey, Inc. 9 $744,879,904
Raymond James & Associates Inc. 9 $569,594,883
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 OTC. 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 01/21/2020.
The 2019 U.S. PIPE and Private Placement Markets
Institutional Investor League Table by Number of Transactions:
---
Investor Name Transaction Count
Total Amount Invested
--- ---
Armistice Capital 10 $35,074,055
Hudson Bay Capital Management LP 10 $28,273,526
Yorkville Advisors, LLC 10 $20,020,334
Anson Funds 10 $15,433,286
Perceptive Advisors, LLC 9 $172,961,863
BVF, Inc. 9 $38,386,551
Heights Capital Management, Inc. 9 $30,257,770
Chicago Venture Partners, L.P. 9 $20,380,000
Sabby Management, LLC 9 $16,561,220
Lincoln Park Capital 9 $9,001,273
Empery Asset Management LP 7 $7,665,721
MetLife, Inc. (NYSE:MET) 6 $104,250,000
OrbiMed Advisors, LLC 6 $61,441,151
Wellington Management Company LLP 6 $36,000,000
Tenor Capital Management 6 $23,386,981
EcoR1 Capital Fund 6 $17,750,000
GCA Altium Limited 6 $2,698,215
IntraCoastal Capital, LLC 6 $2,684,531
Northwestern Mutual Life Insurance Company (The) 5 $120,000,000
Atlas Sciences, LLC 5 $10,650,000
Chicago Venture Partners, L.P. 5 $10,500,000
Franklin Templeton Group 4 $295,459,373
Prudential Capital Group 4 $108,010,000
Prudential Securities Incorporated 4 $57,540,000
State Street Research and Management Company, 4 $54,650,000
Inc.
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 OTC. 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 01/21/2020.
The 2019 U.S. PIPE and Private Placement Markets
Issuer Counsel League Table by Number of Transactions:
---
Legal Counsel Transaction Count
Total Amount Advised
--- ---
Cooley LLP 41 $1,374,202,328
Goodwin Procter, LLP 26 $762,110,741
Latham & Watkins, LLP 24 $2,535,310,500
Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC 21 $617,794,743
Wilmer Cutler Pickering Hale & Dorr, LLP 20 $953,814,133
Morgan, Lewis & Bockius, LLP 18 $920,304,140
Lowenstein Sandler LLP 17 $178,854,790
Graubard Miller 16 $267,444,316
Gibson, Dunn & Crutcher, LLP 12 $496,138,052
Sichenzia Ross Ference LLP 11 $172,075,042
Sheppard, Mullin, Richter & Hampton, LLP 11 $22,948,709
Hogan Lovells 9 $476,356,215
Alston & Bird, LLP 9 $292,530,502
K&L Gates LLP 9 $127,932,895
Greenberg Traurig, LLP 8 $201,934,692
Ellenoff Grossman & Schole LLP 8 $195,498,349
Dorsey & Whitney, LLP 8 $168,847,015
McDermott, Will & Emery 8 $132,048,450
Skadden, Arps, Slate, Meagher & Flom, LLP 8 $126,998,477
Blake, Cassels & Graydon LLP 7 $72,985,254
Haynes and Boone, LLP 7 $64,888,303
Zysman Aharoni Gayer and Sullivan & Worcester LLP 7 $43,868,507
Hunter Taubman Fisher & Li LLC 7 $32,541,898
Akerman LLP 6 $67,173,575
Dentons US LLP 6 $52,782,020
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 OTC. Data is for closed and definitive agreement transactions reported as of 01/21/2020.
The 2019 U.S. PIPE and Private Placement Markets
Investor Counsel League Table by Number of Transactions:
---
Legal Counsel Transaction Count Total Amount Advised
--- ---
Schulte Roth & Zabel, LLP 37 $747,415,672
Kelley Drye & Warren LLP 23 $1,552,918,229
Hansen Black Anderson Ashcraft PLLC 17 $36,730,000
Pillsbury, Winthrop, Shaw & Pittman, LLP 6 $619,556,763
Schiff Hardin, LLP 5 $375,000,000
Latham & Watkins, LLP 5 $264,500,000
David Gonzalez, Esq. 5 $11,700,000
Greenberg Traurig, LLP 4 $75,350,001
Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC 4 $5,500,001
Kirkland & Ellis 3 $2,125,000,000
Skadden, Arps, Slate, Meagher & Flom, LLP 3 $1,604,999,999
Chapman & Cutler, LLP 3 $426,225,637
Simpson Thacher Bartlett, LLP 3 $235,000,000
Cooley LLP 3 $134,999,985
Morgan, Lewis & Bockius, LLP 3 $121,410,835
Thompson & Hine, LLP 3 $12,000,000
Covington & Burling 2 $1,130,000,000
Torys, LLP 2 $456,100,000
Sidley Austin LLP 2 $305,000,000
Paul, Weiss, Rifkind, Wharton & Garrison 2 $154,999,994
Paul Hastings LLP 2 $119,999,995
Harris, Wiltshire & Grannis LLP 2 $99,999,999
DLA Piper 2 $26,000,000
K&L Gates LLP 2 $23,000,000
Ellenoff Grossman & Schole LLP 2 $6,500,000
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 OTC. Data is for closed and definitive agreement transactions reported as of 01/21/2020.
The 2019 U.S. PIPE and Private Placement Markets
Placement Agent Counsel League Table by Number of Transactions:
---
Legal Counsel Transaction Count
Total Amount Advised
--- ---
Ellenoff Grossman & Schole LLP 60 $557,581,875
Goodwin Procter, LLP 40 $1,189,365,099
Cooley LLP 18 $1,103,518,758
Latham & Watkins, LLP 13 $779,421,587
Lowenstein Sandler LLP 13 $121,109,611
Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC 12 $436,876,578
White & Case, LLP 9 $577,046,760
Davis Polk & Wardwell LLP 9 $477,202,488
Duane Morris, LLP 9 $296,924,975
Schiff Hardin, LLP 9 $157,009,111
Covington & Burling 7 $340,852,742
Haynes and Boone, LLP 6 $32,195,446
Holland & Knight, LLP 5 $61,999,780
Stikeman Elliott LLP 5 $48,805,000
Faegre Baker Daniels LLP 4 $66,789,133
McGuireWoods, LLP 4 $63,602,575
Sheppard, Mullin, Richter & Hampton, LLP 4 $47,599,988
Zysman Aharoni Gayer and Sullivan & Worcester LLP 4 $31,299,998
Loeb & Loeb, LLP 4 $23,067,593
Harter Secrest & Emery LLP 3 $19,840,250
Sichenzia Ross Ference LLP 3 $5,656,520
Proskauer Rose, LLP 2 $114,350,960
K&L Gates LLP 2 $97,661,001
Fasken Martineau Du Moulin, LLP 2 $65,250,000
Fangda Partners 2 $60,000,027
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 OTC. Data is for closed and definitive agreement transactions reported as of 01/21/2020.
The 2019 U.S. At-the-Market (ATM) Market
Sales Agent by Number of Transactions:
---
Sales Agent Transaction Count
Commitment Amount
--- ---
Jefferies & Company, Inc. 72 $16,226,344,010
B. Riley & Co. 50 $4,710,071,185
Wells Fargo Securities, LLC 31 $18,742,894,010
Bank of America Merrill Lynch 31 $17,726,812,053
Cowen and Company, LLC 31 $2,979,000,000
BMO Capital Markets Corp. 29 $11,479,350,470
J.P. Morgan Chase & Co. 28 $15,411,812,053
Citigroup Global Markets, Inc. 28 $15,385,273,952
Cantor Fitzgerald & Company 28 $2,011,500,000
Raymond James & Associates Inc. 25 $9,481,410,000
BTIG, LLC 23 $12,442,894,010
Stifel, Nicolaus & Company, Inc. 23 $9,121,246,975
SunTrust Robinson Humphrey, Inc. 22 $9,310,000,000
H.C. Wainwright & Co., LLC 22 $707,186,470
Morgan Stanley 21 $12,671,234,010
RBC Capital Markets, Inc. 21 $11,902,074,010
JMP Securities LLC 19 $3,809,690,000
KeyBanc Capital Markets 18 $7,059,852,965
Barclays Capital, Inc. 17 $12,927,894,010
Goldman, Sachs & Co. 17 $10,352,273,952
Ladenburg Thalmann & Co., Inc. 16 $2,296,402,965
Capital One Securities 15 $6,909,852,965
Mizuho Securities Co., Limited 14 $9,147,746,975
Robert W. Baird & Co. 12 $6,377,894,010
SVB Leerink LLC 12 $830,000,000
Sales Agent rankings includes At the Market. Data is for closed and definitive agreement transactions reported as of 01/21/2020.
The 2019 U.S. Structured Equity Line Market
SEL Investor League Table by Number of Transactions:
---
Investor Transaction Count
Commitment Amount
--- ---
Lincoln Park Capital 16 $269,000,000
Aspire Capital Partners, Inc. 14 $345,900,000
Oasis Capital LLC 10 $72,325,000
GHS Investments LLC 8 $40,650,000
Oscaleta Partners LLC 2 $20,000,000
Crown Bridge Partners, LLC 2 $15,000,000
TRITON FUNDS LLC 2 $4,000,000
Keystone Funds 1 $25,000,000
K&J Funds, LLC 1 $20,000,000
Scorpio Services Holding Limited 1 $15,000,000
Azure Capital Partners 1 $10,000,000
Cavalry Fund 1 $10,000,000
Peak One Opportunity Fund, L.P. 1 $10,000,000
Sea Otter Global Ventures, LLC 1 $10,000,000
White Lion Capital, LLC 1 $7,500,000
Green Coast Capital International SA 1 $5,000,000
Zesiger Capital Group, LLC 1 $2,400,000
Leviston Resources LLC 1 $1,250,000
SEL Investor rankings includes Structured Equity Lines. Data is for closed and definitive agreement transactions reported as of 01/21/2020.
About PlacementTracker
PlacementTracker, part of the Business Intelligence Division of Informa PLC, is well recognized as the leading provider of research, data, and analytics covering the PIPE and Private Placement markets. PlacementTracker's dynamically updated League Tables are available online at: http://www.placementtracker.com/leaguetables.cfm.
About Informa Financial Intelligence
Financial Intelligence, part of the Informa Intelligence Division of Informa plc, is a leading provider of products and services helping financial institutions around the world cut through the noise and take decisive action. Informa Financial Intelligence's solutions provide unparalleled insight into market opportunity, competitive performance and customer segment behavioral patterns and performance through specialized industry research, intelligence, and insight. For more information, please visit https://financialintelligence.informa.com.For more information, please visit the Financial Intelligence website.
Company Contact:
Suzanne Paulin
(617) 722-4622
suzanne.chaves@informa.com
www.PlacementTracker.com
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