PIPE Deals Rise 38% in Q3 2016

NEW YORK, Oct. 13, 2016 /PRNewswire/ -- The Deal (a business unit of TheStreet, Inc. (NASDAQ: TST)) issued its quarterly PIPEs Report today showing a 38% increase in dollar volume over the same quarter last year in the private-investment-in-public-equity financing market. Data is sourced from PrivateRaise, a service of The Deal, which tracks PIPEs that raise at least $1 million.

"PIPE financings accounted for more than $20 billion raised for the second straight quarter," said Paul Springer, senior reporter at The Deal. "These offerings continue to generate capital in October, however political and economic uncertainties could lead to volatility that slows dealmaking as the fourth quarter comes to a close. Much of the increase in dollar value derived from a substantial increase in at-the-market or ATM offerings, which companies establish to smooth the capital raising process at a later date."

Some highlights from the report:

• Some 325 third-quarter PIPE deals represented a nearly 30% increase over the deal flow from the comparable period in 2015.
• The quarter fell shy of the second-quarter's 346 deals and $24.27 billion in capital.
• The $23 billion plus quarter was one of four quarters since 2008 that exceeded $20 billion.
• Sabby Management LLC was the top-ranked investor in the first quarter by number of investments, with 11 deals. Heights Capital Management Inc. ranked second, with nine deals. Empery Asset Management LP ranked third, with seven deals.
• H.C. Wainwright & Co. was the top-ranked placement agent in the first quarter by number of placements, with 20 deals for the quarter. Maxim Group LLC ranked second, with 12. Roth Capital Partners LLC ranked third, with 10. Cowen and Company LLC and Piper Jaffray and Company ranked fourth, with nine deals.

The full report is available online. For more information on The PIPEs Report and PrivateRaise, visit http://www.thedeal.com/the-deal/the-pipes-report/ and www.privateraise.com. 

About The Deal The Deal (www.thedeal.com) provides actionable, intraday coverage of mergers, acquisitions and all other changes in corporate control to institutional investors, private equity, hedge funds and the firms that serve them. The Deal is a business unit of TheStreet, Inc. (NASDAQ: TST, www.t.st), a leading financial news and information provider. Other business units include TheStreet (www.thestreet.com), which is celebrating its 20th year of producing unbiased business news and market analysis; BoardEx (www.boardex.com), a relationship mapping service of corporate directors and officers; and RateWatch (www.ratewatch.com), which supplies rate and fee data from banks and credit unions across the U.S.

Contact: Jon Kostakopoulos, TheStreet, Inc., 212-321-5561, Jon Kostakopoulos at thestreet.com

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SOURCE TheStreet, Inc.