NEW YORK, April 18, 2018 /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 Q1 2018.
A total of $9 billion was raised in 220 transactions throughout Q1 of 2018. Of this amount, 7 transactions totaling $393 million have been announced but not yet closed as of 04/12/2018. Deal volume declined slightly with a 1.78% decrease (224 deals in Q1 2017) but dollar volume increased 36% ($6.6 billion in Q1 2017).
We congratulate all of 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
- Tortoise Capital Advisors, LLC as the most active institutional investor
- Schulte Roth & Zabel, LLP as the most active investor counsel
- Cooley LLP as the most active issuer counsel
- Goodwin Procter, LLP as the most active placement agent counsel
- Cantor Fitzgerald & Company as most active agent for At-the-Market (ATM) transactions
| The Q1 2018 U.S. PIPE and Private Placement Markets |
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| Investment Banking League Table by Number of Transactions: |
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| Placement Agent Name |
Transaction Count |
Total Amount Placed |
| H.C. Wainwright & Co., LLC |
28 |
$541,491,580 |
| Roth Capital Partners, LLC |
15 |
$542,561,539 |
| Piper Jaffray & Co. |
9 |
$274,400,222 |
| Maxim Group LLC |
9 |
$255,363,551 |
| Jefferies & Company, Inc. |
8 |
$511,349,999 |
| Cowen and Company, LLC |
8 |
$451,755,075 |
| National Securities Corporation |
8 |
$183,726,536 |
| Ladenburg Thalmann & Co., Inc. |
7 |
$356,209,960 |
| SunTrust Robinson Humphrey, Inc. |
5 |
$214,180,000 |
| Oppenheimer & Co. Inc. |
5 |
$205,735,000 |
| Needham & Company, LLC |
5 |
$195,210,035 |
| Cantor Fitzgerald & Company |
5 |
$185,700,001 |
| Craig-Hallum Capital Group LLC |
5 |
$162,183,321 |
| Lake Street Capital Markets, LLC |
5 |
$91,759,995 |
| Evercore Group LLC |
4 |
$592,155,000 |
| Wedbush PacGrow Life Sciences |
4 |
$263,009,999 |
| Canaccord Genuity Inc. (US) |
4 |
$156,375,011 |
| Raymond James & Associates Inc. |
4 |
$128,100,084 |
| Chardan Capital Markets |
4 |
$46,776,000 |
| Laidlaw & Company (UK) Ltd. |
4 |
$44,774,163 |
| B. Riley & Co. |
3 |
$204,999,952 |
| Northland Securities, Inc. |
3 |
$170,040,000 |
| Credit Suisse Securities (USA) LLC |
3 |
$154,400,000 |
| William Blair & Company, LLC |
3 |
$141,710,000 |
| Palladium Capital Advisors, LLC |
3 |
$136,371,527 |
| 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 04/12/2018. |
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| The Q1 2018 U.S. PIPE and Private Placement Markets |
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| Institutional Investor League Table by Number of Transactions: |
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| Investor Name |
Transaction Count |
Total Amount Invested |
| Tortoise Capital Advisors, LLC |
3 |
$135,001,000 |
| Iroquois Capital L.P. |
3 |
$2,085,000 |
| Hudson Bay Capital Management LP |
2 |
$30,000,000 |
| Hunt Companies, Inc. |
2 |
$8,375,000 |
| Merida Capital Partners |
2 |
$8,000,000 |
| Sabby Management, LLC |
2 |
$7,035,098 |
| IntraCoastal Capital, LLC |
2 |
$6,000,000 |
| 683 Capital Partners, LP |
2 |
$5,300,000 |
| Navios Maritime Holdings Inc. |
2 |
$5,000,000 |
| Chicago Venture Partners, L.P. |
2 |
$3,263,354 |
| New Enterprise Associates |
2 |
$1,999,998 |
| Lincoln Park Capital |
2 |
$1,499,999 |
| BVF, Inc. |
2 |
$1,364,900 |
| Brio Capital Management LLC |
2 |
$800,000 |
| Coliseum Capital Management, LLC |
2 |
Not Disclosed |
| Galaxy Entertainment Group |
1 |
$927,500,000 |
| Zimmer Partners, LP |
1 |
$850,000,000 |
| EIG Capital, Ltd. |
1 |
$420,664,074 |
| Shell Midstream LP Holdings LLC |
1 |
$300,000,006 |
| Harbin Pharmaceutical Group Holding Co., Ltd |
1 |
$300,000,000 |
| Warburg Pincus, LLC |
1 |
$300,000,000 |
| Yum! Brands, Inc. |
1 |
$200,000,000 |
| Takeda Pharmaceutical Company Limited |
1 |
$110,000,000 |
| Värde Partners. Inc. |
1 |
$100,000,000 |
| FS Holdings Limited |
1 |
$75,335,926 |
| 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 04/12/2018. |
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| The Q1 2018 U.S. PIPE and Private Placement Markets |
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| Investor Counsel League Table by Number of Transactions: |
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|
Legal Counsel |
Transaction Count |
Total Amount Advised |
|
| Schulte Roth & Zabel, LLP |
19 |
$452,404,088 |
|
| Kirkland & Ellis |
3 |
$950,000,000 |
|
| Paul, Weiss, Rifkind, Wharton & Garrison |
3 |
$15,717,967 |
|
| Ropes & Gray |
2 |
$1,011,600,000 |
|
| McDermott, Will & Emery |
2 |
$15,050,585 |
|
| Kelley Drye & Warren LLP |
2 |
$8,000,000 |
|
| Sidley Austin LLP |
1 |
$1,428,375,000 |
|
| Mayer Brown LLP |
1 |
$200,000,000 |
|
| Clifford Chance US, LLP |
1 |
$50,000,000 |
|
| Wilson Sonsini Goodrich & Rosati |
1 |
$30,514,967 |
|
| Baker & McKenzie |
1 |
$17,000,000 |
|
| Hughes, Hubbard & Reed, LLP |
1 |
$9,926,000 |
|
| Curtis, Mallet-Provost, Colt & Mosie, LLP |
1 |
$2,400,000 |
|
| 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 04/12/2018. |
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| The Q1 2018 U.S. PIPE and Private Placement Markets |
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| Issuer Counsel League Table by Number of Transactions: |
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|
Legal Counsel |
Transaction Count |
Total Amount Advised |
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| Cooley LLP |
9 |
$408,153,843 |
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| Goodwin Procter, LLP |
5 |
$185,400,000 |
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| Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC |
5 |
$175,599,027 |
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| Alston & Bird, LLP |
4 |
$119,580,001 |
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| Wilson Sonsini Goodrich & Rosati |
4 |
$72,833,000 |
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| Sichenzia Ross Ference Kesner LLP |
4 |
$42,098,000 |
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| Morgan, Lewis & Bockius, LLP |
3 |
$198,526,003 |
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| Graubard Miller |
3 |
$99,712,613 |
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| Davis Polk & Wardwell LLP |
3 |
$91,049,993 |
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| Latham & Watkins, LLP |
3 |
$78,567,640 |
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| Brownstein Hyatt Farber Schreck |
3 |
$49,390,000 |
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| Mitchell, Silberberg & Knupp LLP |
3 |
$41,122,502 |
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| Ellenoff Grossman & Schole LLP |
3 |
$35,914,967 |
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| Haynes and Boone, LLP |
3 |
$20,040,380 |
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| Jones Day |
2 |
$1,011,600,000 |
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| Kirkland & Ellis |
2 |
$220,000,000 |
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| Gibson, Dunn & Crutcher, LLP |
2 |
$173,175,000 |
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| Greenberg Traurig, LLP |
2 |
$116,850,000 |
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| Ropes & Gray |
2 |
$105,000,000 |
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| K&L Gates LLP |
2 |
$93,162,501 |
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| Hogan Lovells |
2 |
$79,000,000 |
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| Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP |
2 |
$46,325,016 |
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| Loeb & Loeb, LLP |
2 |
$16,072,505 |
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| Sheppard, Mullin, Richter & Hampton, LLP |
2 |
$8,740,000 |
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| Burns & Levinson, LLP |
2 |
$5,200,001 |
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| 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 04/12/2018. |
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| The Q1 2018 U.S. PIPE and Private Placement Markets |
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| Placement Agent Counsel League Table by Number of Transactions: |
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| Legal Counsel |
Transaction Count |
Total Amount Advised |
| Goodwin Procter, LLP |
8 |
$505,597,500 |
| Cooley LLP |
8 |
$368,000,005 |
| Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC |
7 |
$231,375,083 |
| Ellenoff Grossman & Schole LLP |
6 |
$42,194,002 |
| Latham & Watkins, LLP |
4 |
$344,900,000 |
| Sheppard, Mullin, Richter & Hampton, LLP |
3 |
$15,774,156 |
| Schiff Hardin & Waite |
3 |
$12,524,671 |
| Duane Morris, LLP |
2 |
$143,799,952 |
| Davis Polk & Wardwell |
2 |
$89,000,000 |
| Proskauer Rose, LLP |
2 |
$80,050,035 |
| McDermott, Will & Emery |
2 |
$8,000,000 |
| Cahill, Gordon & Reindel |
1 |
$70,000,000 |
| Davis Polk & Wardwell LLP |
1 |
$59,570,000 |
| Ropes & Gray |
1 |
$37,375,000 |
| Salley Bowes Harwardt LC |
1 |
$30,000,000 |
| Covington & Burling |
1 |
$26,450,000 |
| O'Melveny & Myers LLP |
1 |
$25,990,000 |
| Pillsbury Winthrop, LLP |
1 |
$25,200,000 |
| Kelley Drye & Warren LLP |
1 |
$25,000,000 |
| Nixon Peabody, LLP |
1 |
$23,162,501 |
| McGuireWoods, LLP |
1 |
$20,010,000 |
| Dechert, LLP |
1 |
$20,000,001 |
| DLA Piper |
1 |
$20,000,000 |
| Troutman Sanders, LLP |
1 |
$14,000,008 |
| Golenbock Eiseman Assor Bell & Peskoe |
1 |
$12,937,500 |
| 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 04/12/2018. |
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| The Q1 2018 U.S. At-the-Market (ATM) Market |
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| Sales Agent by Number of Transactions: |
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| Sales Agent |
Transaction Count |
Commitment Amount |
| Cantor Fitzgerald & Company |
13 |
$1,310,740,000 |
| B. Riley & Co. |
9 |
$411,372,000 |
| H.C. Wainwright & Co., LLC |
8 |
$156,958,000 |
| Bank of America Merrill Lynch |
7 |
$3,673,470,629 |
| Wells Fargo Securities, LLC |
7 |
$5,202,959,652 |
| Cowen and Company, LLC |
6 |
$490,000,000 |
| Jefferies & Company, Inc. |
6 |
$1,412,000,000 |
| RBC Capital Markets, Inc. |
6 |
$2,787,000,000 |
| J.P. Morgan Securities (Asia Pacific) Limited |
6 |
$4,911,470,629 |
| Barclays Capital, Inc. |
5 |
$4,990,959,652 |
| Goldman, Sachs & Co. |
5 |
$3,750,000,000 |
| Raymond James & Associates Inc. |
5 |
$1,252,000,000 |
| SunTrust Robinson Humphrey, Inc. |
5 |
$1,662,000,000 |
| J.P. Morgan Chase & Co. |
4 |
$2,300,000,000 |
| KeyBanc Capital Markets |
4 |
$1,325,000,000 |
| Ladenburg Thalmann & Co., Inc. |
4 |
$310,000,000 |
| Morgan Stanley & Co. International plc |
4 |
$2,012,000,000 |
| BTIG, LLC |
3 |
$395,000,000 |
| Capital One Securities |
3 |
$637,000,000 |
| Citigroup Global Markets, Inc. |
3 |
$3,740,959,652 |
| Credit Suisse Securities (USA) LLC |
3 |
$2,250,000,000 |
| Deutsche Bank Securities, Inc. |
3 |
$1,750,000,000 |
| JonesTrading Institutional Services LLC |
3 |
$126,850,000 |
| Stifel Nicolaus Weisel |
3 |
$600,000,000 |
| Citigroup Global Markets Limited |
3 |
$2,250,000,000 |
| Sales Agent rankings includes At the Market. Data is for closed and definitive agreement transactions reported as of 04/12/2018. |
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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.
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suzanne.chaves@informa.com
www.PlacementTracker.com
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