PrivateRaise Releases Second Quarter PIPE Market Activity and League Tables;
PrivateRaise: Private Placements in Public Equity (PIPEs) Rise Sharply in 2Q
NEW YORK -- Recovering stock values and overall equity market liquidity were reflected in a rebound in private investment in public equity (PIPE) issuance in the second quarter, according to PrivateRaise, the equity private placement and alternative public offering data service of DealFlow Media (www.dealflowmedia.com/privateraise).
U.S.-listed public companies raised $12.93 billion in 236 PIPE deals in the second quarter, a 63% increase in capital raised and a 32% increase in deal activity over the first quarter. The average amount of capital raised per deal also increased, by 24%, to $54.8 million. In terms of total investment, the second quarter was the seventh highest quarter on record, but the fifth lowest in terms of total deals completed.
While the PIPE market's rebound in the second quarter was significant, comparisons to the same period a year ago show that issuance remains well off recent and historical levels. Deal activity declined 30% from the second quarter of 2008, and total investment declined 40% from a year ago. Looking at the first half of 2009, PIPE issuance fell 44% to 415 deals, raising $20.8 billion in capital, a 68% decline in total investment from the first half of 2008.
PIPE issuing companies responded to investors' demands for increased liquidity by conducting private placements of registered shelf offerings, or "registered directs", more frequently last quarter. Issuers closed 57 registered direct offerings, raising $967.7 million, compared to 25 deals that raised $417.9 million in the first quarter. Year-over-year comparisons of registered direct issuance showed a marked increase in completed deals but only modest increases in total capital raised, reflecting the impact of the shelf registration rule changes which allow smaller companies to participate in shelf offerings.
Looking forward, the trend toward increased issuance of registered directs, which unlike traditional PIPE securities are registered and publicly tradable immediately upon issue, appears poised to increase through the remainder of the year. More than 250 equity linked shelf registration statements were filed by issuers in the second quarter, to potentially raise nearly $39 billion. That is up significantly from a year ago, when 108 "shelves" were filed with a potential issuance valued at $19 billion. In the first half of the year, more than $72 billion in shelves have been filed, compared to $28 billion during the same period last year.
"Issuing companies are clearly seizing on the expanded eligibility that S-3 shelf registration afforded them by the recent rule changes and they are preparing to complete registered direct offerings in the near future," said J.B. Summitt, Director of Research at PrivateRaise.
"Registered directs offer issuers a lower cost of capital, and investors greater liquidity, than traditional PIPEs, making them ideally suited for the current capital markets environment, where growth capital is scarce and investors are highly risk-averse," added Brett Goetschius, Editor and Publisher at DealFlow Media. "However, even at the current level of activity they represent a fraction of the total PIPE market, and are not a viable option for the majority of emerging growth companies that remain ineligible for S-3 registration and must rely on the traditional PIPE market for equity capital."
These companies - primarily micro-cap companies that are traded on the OTC Bulletin Board and Pink Sheets and typically have market caps of less than $100 million - saw sequential quarterly declines in total PIPE investment from the first quarter, even as the pace of deal making began to pick up. Indeed, only companies of $1 billion or larger market cap size saw increased investment in the second quarter, and it was this investment in large cap issuers that wholly accounted for the $4.5 billion increase in investment volume over the first quarter.
One of the areas that remain reliant on traditional PIPEs is the alternative public offerings market, including shell mergers and special purpose acquisition companies (SPACs), where overall activity declined over a year ago. Companies completed 40 reverse mergers with publicly-reporting shells in the second quarter while concurrently raising $45.4 million through PIPE financings well-off the year-ago quarter's 57 deals that raised $157.5 million. Three SPACs closed or announced mergers, compared to five in the second quarter of 2008.
2009 Q1-Q2 PRIVATERAISE LEAGUE TABLES
2009 Q1-Q2 Top 25 PIPE Issuers |
||||
(ranked by $ raised) |
Raised $ (m) |
Avg. $ (m) |
Deals |
|
|
|
|
|
|
1 |
Dow Chemical Company | $4,000.00 |
$4,000.00 |
1 |
2 |
BlackRock, Inc. | $2,800.00 |
$1,400.00 |
2 |
3 |
Daimler AG | $2,519.15 |
$2,519.15 |
1 |
4 |
ArcelorMittal | $1,695.83 |
$1,695.83 |
1 |
5 |
Sirius XM Radio Inc. | $430.00 |
$215.00 |
2 |
6 |
SkyTerra Communications, Inc. | $400.00 |
$400.00 |
1 |
7 |
Office Depot, Inc. | $350.00 |
$175.00 |
2 |
8 |
Lihir Gold Limited | $324.45 |
$324.45 |
1 |
9 |
China Tel Group, Inc. | $300.00 |
$300.00 |
1 |
9 |
Colonial BancGroup, Inc. | $300.00 |
$300.00 |
1 |
11 |
Flagstar Bancorp, Inc. | $280.32 |
$140.16 |
2 |
12 |
Maiden Holdings, Ltd. | $260.00 |
$260.00 |
1 |
13 |
Fidelity National Information Services, Inc. | $250.00 |
$250.00 |
1 |
13 |
New York Times Company (The) | $250.00 |
$250.00 |
1 |
15 |
Central European Media Enterprises Ltd. | $241.50 |
$120.75 |
2 |
16 |
Precision Drilling Trust | $230.53 |
$115.26 |
2 |
17 |
Nuance Communications, Inc. | $175.00 |
$175.00 |
1 |
18 |
Boardwalk Pipeline Partners, LP | $147.00 |
$147.00 |
1 |
19 |
BPZ Resources, Inc. | $135.40 |
$67.70 |
2 |
20 |
Developers Diversified Realty Corporation | $112.50 |
$56.25 |
2 |
21 |
National Bank of Greece S.A. | $105.64 |
$105.64 |
1 |
22 |
PICO Holdings, Inc. | $101.25 |
$50.63 |
2 |
23 |
CB Richard Ellis Group, Inc. | $100.00 |
$100.00 |
1 |
23 |
CommScope, Inc. | $100.00 |
$100.00 |
1 |
23 |
Pacwest Bancorp | $100.00 |
$100.00 |
1 |
2009 Q1-Q2 Top 25 PIPE Placement Agents |
||||
(ranked by # of deals placed) |
Placed $ (m) |
Avg. $ (m) |
Deals |
|
|
|
|
|
|
1 |
Rodman & Renshaw, LLC | $418.28 |
$15.49 |
27 |
2 |
Lazard | $286.36 |
$31.82 |
9 |
3 |
Piper Jaffray & Co. | $198.48 |
$24.81 |
8 |
4 |
Canaccord Capital Corp. | $168.44 |
$24.06 |
7 |
5 |
Dundee Securities Corporation | $51.74 |
$10.35 |
5 |
5 |
Roth Capital Partners, LLC | $46.00 |
$9.20 |
5 |
7 |
Midtown Partners & Co., LLC | $24.99 |
$6.25 |
4 |
8 |
Cowen and Company, LLC | $57.00 |
$19.00 |
3 |
8 |
Oppenheimer & Co. Inc. | $53.13 |
$17.71 |
3 |
8 |
Merriman Curhan Ford & Co. | $45.25 |
$15.08 |
3 |
8 |
GMP Securities Ltd. | $42.35 |
$14.12 |
3 |
8 |
Toll Cross Securities Inc. | $26.21 |
$8.74 |
3 |
8 |
Philadelphia Brokerage Corporation | $16.93 |
$5.64 |
3 |
8 |
Chardan Capital Markets, LLC | $9.13 |
$3.04 |
3 |
8 |
Security Research Associates, Inc. | $3.88 |
$1.29 |
3 |
16 |
Macquarie Capital Advisors | $356.51 |
$178.25 |
2 |
16 |
Pritchard Capital Partners LLC | $135.40 |
$67.70 |
2 |
16 |
ThinkEquity Partners, LLC | $101.25 |
$50.63 |
2 |
16 |
Wunderlich Securities, Inc. | $97.53 |
$48.76 |
2 |
16 |
Deutsche Bank AG | $54.75 |
$27.38 |
2 |
16 |
Research Capital Corporation | $49.86 |
$24.93 |
2 |
16 |
Needham & Company, Inc. | $43.05 |
$21.53 |
2 |
16 |
Thomas Weisel Partners LLC | $42.06 |
$21.03 |
2 |
16 |
Genuity Capital Markets | $40.51 |
$20.26 |
2 |
16 |
Wedbush Morgan Securities, Inc. | $22.00 |
$11.00 |
2 |
2009 Q1-Q2 Top 25 PIPE Placement Agents |
||||
(ranked by $ placed) |
Placed $ (m) |
Avg. $ (m) |
Deals |
|
|
|
|
|
|
1 |
Calyon Securities USA, Inc. | $1,695.83 |
$1,695.83 |
1 |
1 |
Societe Generale Group | $1,695.83 |
$1,695.83 |
1 |
3 |
Rodman & Renshaw, LLC | $418.28 |
$15.49 |
27 |
4 |
Macquarie Capital Advisors | $356.51 |
$178.25 |
2 |
5 |
Goldman, Sachs & Co | $324.45 |
$324.45 |
1 |
6 |
Lazard | $286.36 |
$31.82 |
9 |
7 |
Friedman, Billings, Ramsey & Co., Inc. | $260.00 |
$260.00 |
1 |
8 |
SunTrust Robinson Humphrey | $250.00 |
$250.00 |
1 |
9 |
Piper Jaffray & Co. | $198.48 |
$24.81 |
8 |
10 |
Canaccord Capital Corp. | $168.44 |
$24.06 |
7 |
11 |
Pritchard Capital Partners LLC | $135.40 |
$67.70 |
2 |
12 |
ThinkEquity Partners, LLC | $101.25 |
$50.63 |
2 |
13 |
Bank of America Corporation | $100.00 |
$100.00 |
1 |
13 |
Credit Suisse Group | $100.00 |
$100.00 |
1 |
15 |
Wunderlich Securities, Inc. | $97.53 |
$48.76 |
2 |
16 |
Raymond James & Associates, Inc. | $87.40 |
$87.40 |
1 |
17 |
J.P. Morgan Chase & Co. | $60.00 |
$60.00 |
1 |
18 |
Cowen and Company, LLC | $57.00 |
$19.00 |
3 |
19 |
Deutsche Bank AG | $54.75 |
$27.38 |
2 |
20 |
Oppenheimer & Co. Inc. | $53.13 |
$17.71 |
3 |
21 |
Dundee Securities Corporation | $51.74 |
$10.35 |
5 |
22 |
Research Capital Corporation | $49.86 |
$24.93 |
2 |
23 |
Roth Capital Partners, LLC | $46.00 |
$9.20 |
5 |
24 |
Leerink Swann & Company | $45.52 |
$45.52 |
1 |
25 |
Merriman Curhan Ford & Co. | $45.25 |
$15.08 |
3 |
2009 Q1-Q2 Top 25 PIPE Investors |
||||
(ranked by # of deals invested) |
Invested $ (m) |
Avg. $ (m) |
Deals |
|
|
|
|
|
|
1 |
Iroquois Capital L.P. | $43.74* |
$3.98* |
14 |
2 |
Downsview Capital, Inc. | $43.98 |
$4.00 |
11 |
3 |
Hudson Bay Capital Management LP | $41.38 |
$5.17 |
8 |
4 |
Vicis Capital, LLC | $24.50 |
$4.08 |
6 |
5 |
Wellington Management Company, LLP | $95.01* |
$23.75* |
5 |
5 |
Heights Capital Management, Inc. | $51.70 |
$10.34 |
5 |
5 |
BAM Capital LLC | $41.67 |
$8.33 |
5 |
8 |
Bay City Capital | $17.30 |
$4.32 |
4 |
8 |
Special Situations Funds | $9.35 |
$2.34 |
4 |
10 |
Laboratoire Francais du Fractionnement et des Biotechnologies | $24.99 |
$8.33 |
3 |
10 |
New Enterprise Associates | $11.55 |
$3.85 |
3 |
10 |
Rockmore Capital | $6.18 |
$2.06 |
3 |
10 |
Atoll Asset Management, LLC | $3.30 |
$1.10 |
3 |
10 |
UBS AG | $2.27 |
$0.76 |
3 |
10 |
Federated Equity Funds | $0.00* |
$0.00* |
3 |
16 |
BC Partners, Inc. | $425.00 |
$212.50 |
2 |
16 |
Alberta Investment Management | $230.53 |
$115.26 |
2 |
16 |
Annaly Capital Management, Inc. | $90.08 |
$45.04 |
2 |
16 |
Lime Rock Partners | $86.12 |
$43.06 |
2 |
16 |
Invesco Ltd. | $80.00 |
$40.00 |
2 |
16 |
Silver Lake Partners | $60.00 |
$30.00 |
2 |
16 |
Frost Group, LLC | $58.23 |
$29.11 |
2 |
16 |
Commonwealth Associates, L.P. | $30.00 |
$15.00 |
2 |
16 |
ProQuest Investments | $25.00 |
$12.50 |
2 |
16 |
Ramius Capital Group, LLC | $16.00 |
$8.00 |
2 |
2009 Q1-Q2 Top 25 PIPE Investors |
||||
(ranked by $ invested) |
Invested $ (m) |
Avg. $ (m) |
Deals |
|
|
|
|
|
|
1 |
Berkshire Hathaway Inc. | $3,000.00 |
$3,000.00 |
1 |
2 |
Aabar Investments PJSC | $2,519.15 |
$2,519.15 |
1 |
3 |
Kuwait Investment Authority | $1,000.00 |
$1,000.00 |
1 |
4 |
PNC Financial Services Group | $500.00 |
$500.00 |
1 |
5 |
BC Partners, Inc. | $425.00 |
$212.50 |
2 |
6 |
Harbert Management Corp. | $325.00 |
$325.00 |
1 |
7 |
Olotoa Investments, Inc. | $300.00 |
$300.00 |
1 |
8 |
Matlin Patterson Global Advisers LLC | $275.00 |
$275.00 |
1 |
9 |
Alberta Investment Management | $230.53 |
$115.26 |
2 |
10 |
Warburg Pincus LLC | $175.00 |
$175.00 |
1 |
11 |
Grupo Financiero Inbursa | $125.00 |
$125.00 |
1 |
11 |
Inmobiliaria Carso S.A. de CV | $125.00 |
$125.00 |
1 |
13 |
CapGen Financial Group | $100.00 |
$100.00 |
1 |
13 |
Elevation Partners, L.P. | $100.00 |
$100.00 |
1 |
13 |
Paulson & Co., Inc. | $100.00 |
$100.00 |
1 |
16 |
Wellington Management Company, LLP | $95.01* |
$23.75* |
5 |
17 |
Annaly Capital Management, Inc. | $90.08 |
$45.04 |
2 |
18 |
Lime Rock Partners | $86.12 |
$43.06 |
2 |
19 |
Lion Capital LLP | $80.00 |
$80.00 |
1 |
19 |
Invesco Ltd. | $80.00 |
$40.00 |
2 |
21 |
Silver Lake Partners | $60.00 |
$30.00 |
2 |
21 |
Deerfield Management Company, L.P. | $60.00 |
$60.00 |
1 |
23 |
Frost Group, LLC (The) | $58.23 |
$29.11 |
2 |
24 |
Heights Capital Management, Inc. | $51.70 |
$10.34 |
5 |
25 |
Asia Debt Management Hong Kong Limited | $50.00 |
$50.00 |
1 |
2009 Q1-Q2 Top 25 PIPE Investor Law Firms |
||||
(ranked by # of deals advised) |
Advised $ (m) |
Avg. $ (m) |
Deals |
|
|
|
|
|
|
1 |
Greenberg Traurig, LLP | $268.83 |
$20.68 |
13 |
2 |
Schulte Roth & Zabel LLP | $229.22 |
$22.92 |
10 |
3 |
Latham & Watkins LLP | $701.50 |
$87.69 |
8 |
4 |
Simpson, Thacher & Bartlett | $355.00 |
$59.17 |
6 |
5 |
O'Melveny & Myers LLP | $131.60 |
$26.32 |
5 |
6 |
Bingham McCutchen LLP | $8.62 |
$2.16 |
4 |
7 |
Willkie Farr & Gallagher LLP | $416.50 |
$138.83 |
3 |
7 |
Katten Muchin Rosenman LLP | $100.00 |
$33.33 |
3 |
7 |
Goodwin Procter LLP | $50.00 |
$16.67 |
3 |
7 |
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C | $24.99 |
$8.33 |
3 |
7 |
Quarles & Brady Streich Lang LLP | $12.50 |
$4.17 |
3 |
7 |
Feldman Weinstein & Smith LLP | $5.40 |
$1.80 |
3 |
13 |
Weil, Gotshal & Manges LLP | $650.00 |
$325.00 |
2 |
13 |
Baker Botts, L.L.P. | $430.00 |
$215.00 |
2 |
13 |
Cleary, Gottlieb, Steen & Hamilton | $267.00 |
$133.50 |
2 |
13 |
Alston & Bird LLP | $112.50 |
$56.25 |
2 |
13 |
Seward & Kissel LLP | $93.00 |
$46.50 |
2 |
13 |
Vinson & Elkins L.L.P. | $86.12 |
$43.06 |
2 |
13 |
Jones Day | $84.55 |
$42.28 |
2 |
13 |
Troutman Sanders LLP | $52.00 |
$26.00 |
2 |
13 |
Chadbourne & Parke LLP | $40.00 |
$20.00 |
2 |
13 |
Proskauer Rose LLP | $31.21 |
$15.60 |
2 |
13 |
Akerman Senterfitt | $30.00 |
$15.00 |
2 |
13 |
Morrison & Foerster LLP | $17.00 |
$8.50 |
2 |
13 |
Cooley Godward Kronish LLP | $9.01 |
$4.50 |
2 |
2009 Q1-Q2 Top 25 PIPE Issuer Law Firms |
||||
(ranked by # of deals advised) |
Advised $ (m) |
Avg. $ (m) |
Deals |
|
|
|
|
|
|
1 |
Cooley Godward Kronish LLP | $206.34 |
$15.87 |
13 |
2 |
Sichenzia Ross Friedman Ference LLP | $56.16 |
$5.62 |
10 |
3 |
Wilson Sonsini Goodrich & Rosati, PC | $353.61 |
$39.29 |
9 |
4 |
Morgan, Lewis & Bockius LLP | $297.43 |
$37.18 |
8 |
4 |
DLA Piper | $58.18 |
$7.27 |
8 |
6 |
Stradling Yocca Carlson & Rauth | $113.64 |
$16.23 |
7 |
7 |
Edwards Angell Palmer & Dodge LLP | $304.58 |
$50.76 |
6 |
7 |
K & L Gates | $165.88 |
$27.65 |
6 |
9 |
Simpson, Thacher & Bartlett | $600.00 |
$120.00 |
5 |
9 |
Skadden, Arps, Slate, Meagher & Flom LLP | $520.68 |
$104.14 |
5 |
9 |
WilmerHale | $134.00 |
$26.80 |
5 |
9 |
Goodwin Procter LLP | $96.50 |
$19.30 |
5 |
13 |
O'Melveny & Myers LLP | $181.44 |
$45.36 |
4 |
13 |
Latham & Watkins LLP | $148.98 |
$37.24 |
4 |
13 |
Hogan & Hartson L.L.P. | $78.75 |
$19.69 |
4 |
13 |
Greenberg Traurig, LLP | $63.70 |
$15.92 |
4 |
13 |
Baker & McKenzie LLP | $61.43 |
$15.36 |
4 |
13 |
Pepper Hamilton LLP | $53.32 |
$13.33 |
4 |
13 |
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C | $48.97 |
$12.24 |
4 |
13 |
Pillsbury Winthrop Shaw Pittman LLP | $38.74 |
$9.68 |
4 |
21 |
Wachtell, Lipton, Rosen & Katz | $600.00 |
$200.00 |
3 |
21 |
Sullivan & Cromwell LLP | $156.78 |
$52.26 |
3 |
21 |
Conyers Dill & Pearman | $42.00 |
$14.00 |
3 |
21 |
Silverman Sclar Shin & Byrne PLLC | $32.38 |
$10.79 |
3 |
21 |
Troutman Sanders LLP | $16.30 |
$5.43 |
3 |
2009 Q1-Q2 Top 15 PIPE Placement Agent Law Firms |
||||
(ranked by # of deals advised) |
Advised $ (m) |
Avg. $ (m) |
Deals |
|
|
|
|
|
|
1 |
Feldman Weinstein & Smith LLP | $176.59 |
$11.04 |
16 |
2 |
Proskauer Rose LLP | $190.22 |
$19.02 |
10 |
3 |
Weinstein & Smith LLP | $125.59 |
$13.95 |
9 |
4 |
Goodwin Procter LLP | $208.49 |
$26.06 |
8 |
5 |
Choate, Hall & Stewart LLP | $56.69 |
$14.17 |
4 |
5 |
Lowenstein Sandler PC | $18.01 |
$4.50 |
4 |
7 |
Latham & Watkins LLP | $89.58 |
$29.86 |
3 |
8 |
Stradling Yocca Carlson & Rauth | $38.35 |
$19.18 |
2 |
8 |
Sichenzia Ross Freidman Ference LLP | $13.98 |
$6.99 |
2 |
10 |
Cravath, Swaine & Moore LLP | $100.00 |
$100.00 |
1 |
10 |
Bracewell & Giuliani LLP | $87.40 |
$87.40 |
1 |
10 |
Pillsbury Winthrop Shaw Pittman LLP | $55.00 |
$55.00 |
1 |
10 |
Wilmer Cutler Pickering Hale and Dorr LL | $45.52 |
$45.52 |
1 |
10 |
Andrews Kurth LLP | $25.70 |
$25.70 |
1 |
10 |
Morrison & Foerster LLP | $17.50 |
$17.50 |
1 |
2009 Q1-Q2 Top 25 PIPE Accountants |
||||
(ranked by # of PIPE Issuers represented) |
Raised $ (m) |
Avg. MCap (m) |
Issuers |
|
|
|
|
|
|
1 |
Ernst & Young LLP | $1,192.98 | $194.40 | 38 |
2 |
KPMG LLP | $1,933.74 | $381.24 | 30 |
3 |
PricewaterhouseCoopers LLP | $1,583.15 | $495.21 | 28 |
4 |
Deloitte & Touche LLP | $8,209.66 | $1,104.22 | 25 |
5 |
BDO Seidman, LLP | $394.41 | $165.89 | 10 |
6 |
Crowe Horwath LLP | $122.40 | $105.99 | 6 |
6 |
Grant Thornton LLP | $93.86 | $105.36 | 6 |
6 |
Marcum & Kliegman LLP | $91.65 | $35.89 | 6 |
9 |
UHY LLP | $125.51 | $42.00 | 5 |
9 |
McGladrey & Pullen, LLP | $74.52 | $98.72 | 5 |
9 |
Jewett, Schwartz, Wolfe & Associates | $49.38 | $29.47 | 5 |
9 |
Amper, Politziner & Mattia, P.C. | $38.64 | $13.79 | 5 |
9 |
Sherb & Co., LLP | $22.69 | $30.63 | 5 |
14 |
Deloitte Touche Tohmatsu CPA, Ltd. | $71.80 | $843.76 | 4 |
14 |
BDO Dunwoody LLP | $49.14 | $54.98 | 4 |
14 |
PMB Helin Donovan LLP | $27.54 | $124.78 | 4 |
14 |
HEIN & ASSOCIATES LLP | $26.55 | $86.39 | 4 |
14 |
Perry-Smith LLP | $22.99 | $45.65 | 4 |
14 |
Moore Stephens Wurth Frazer and Torbet | $18.67 | $73.29 | 4 |
20 |
Mendoza Berger & Company, LLP | $303.02 | $29.20 | 3 |
20 |
Ernst & Young LLP | $104.40 | $143.75 | 3 |
20 |
Stonefield Josephson, Inc. | $51.26 | $131.29 | 3 |
20 |
Cherry, Bekaert & Holland, L.L.P. | $33.42 | $32.28 | 3 |
20 |
Davidson & Company LLP | $24.14 | $38.32 | 3 |
20 |
CCR LLP | $8.28 | $41.99 | 3 |
(1) |
All Rankings for 1/1/09 - 6/30/09 (PrivateRaise.com data as of 7/14/09) |
(2) |
PIPE Placement Agent Rankings, for co-agented transactions each Agent is allocated 100% of Issuance Amount |
(3) |
PIPE Investor Rankings, exclude Corporate Entities (e.g., Microsoft) |
(4) |
PIPE Investor Rankings, (*) Excludes transactions where Investment Amount is Unknown |
(5) |
All Rankings exclude Equity Line transactions |
(6) |
All Rankings exclude PIPE transactions executed by Foreign-Based Issuers that trade on the Over-the-Counter market (Pink Sheets) |
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DealFlow Media was founded in 2003 with the launch of The PIPEs Report, the premier research publication for the equity private placement market. Since its inception, DealFlow Media has distinguished itself as a provider of independent research and analysis of alternative asset markets. The company publishes five alternative investment reports and seven weekly news wires as well as hosting conferences and webinars throughout the year.
About PrivateRaise
PrivateRaise is the leading source for data and analysis of private investments in public equity (PIPEs), Reverse Mergers, and Special Purpose Acquisition Companies (SPACs). This award-winning service simplifies researching these investment structures and the entities associated with these transactions. PrivateRaise also offers the only comprehensive database of alternative public offerings and directory of market participants.
PrivateRaise information services can be accessed at www.dealflowmedia.com/privateraise.
Contact:
PrivateRaise, a service of DealFlow Media
Phil Kerewich
T: 516-876-8006
F: 516-876-8010
E: pkerewich@privateraise.com