Third Quarter PIPE Market Raises Nearly $20 Billion in Deals; Low Technical Volatility but Political Uncertainty Looms
While volatility remains low, political uncertainty restrained the market somewhat. Biotech and technology offerings made up most of the deal flow, but some of the biggest PIPE deals came from the energy industry.
"The PIPEs market continues to thrive, with the recent quarter surpassing the previous though not besting the
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Sabby Management LLCwas the top-ranked investor in the third quarter by number of investments, with six. Perceptive Advisors LLC came in second with four investments.
- H.C. Wainwright & Co. was the top-ranked placement agent in the third quarter by number of placements, with 11 deals for the quarter. Oppenheimer & Co. came in second with eight placements. Roth Capital Partners LLC ranked third with seven placements.
Cooley LLPand Sichenzia Ross Ference Kesner LLPtied for the top-ranked issuer legal counsel with eight placements advised each. Morrison & Foerster LLP came in third with seven. Latham & Watkins LLPwas the top-ranked investor legal counsel, with five placements advised. Kirkland & Ellis LLP and Ellenoff Grossman & Schole LLP tied for second, with four placements advised each.
- Ellenoff Grossman & Schole LLP was the top-ranked agent legal counsel with eight placements advised.
Goodwin Procter LLPranked second with seven placements advised. Lowenstein Sandler came in third with six placements advised.
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