SAN DIEGO, April 7, 2010 (GLOBE NEWSWIRE) -- Sagient Research Systems, a leading publisher of independent research for the financial services and institutional investment communities, today announced that Rodman & Renshaw, LLC ranked as the number one most active investment bank and Iroquois Capital L.P. ranked as the number one most active institutional investor in the U.S. PIPE market during the first quarter of 2010.
Sagient Research also announced that Dorsey & Whitney, LLP ranked as the number one most active issuer counsel, Greenberg Traurig, LLP ranked as the number one most active investor counsel, and Weinstein Smith, LLP ranked as the number one most active placement agent counsel in the U.S. PIPE market for the beginning of 2010.
PlacementTracker, a flagship product of Sagient Research Systems, is well recognized as the leading provider of research, data, and analytics covering the PIPE market.
Commenting on the activity in the PIPE market, Tassanee Sukramule, Vice President of PlacementTracker said, "The robust activity in the fourth quarter of 2009 made for a smooth transition in 2010 activity levels. For the first quarter of 2010, a total of $15.33 billion was raised in 316 transactions (of this amount, 22 transactions totaling $417.7 million have been announced but not yet closed as of 04/06/10). Transaction activity picked up 69% over the same period last year. In addition, average transaction size also increased 138% over the first quarter of 2009. This is due, in large part, to the marked increase in public/private hybrid deals such as confidentially-marketed public offerings and underwritten registered directs. We congratulate all of the active members of the PIPE community for continued success in 2010. Most of these firms are long-time clients of PlacementTracker, and we are dedicated to providing them with access to data on our ever-changing industry."
PlacementTracker's dynamically updating League Tables are available online at: http://www.sagientresearch.com/pt/leaguetables.cfm.
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The 2010 U.S. PIPE Market Investment Banking League Table By Number of Transactions (through 03/31/10): |
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| Placement Agent Name | Transaction Count | Total Amount Placed |
| Rodman & Renshaw, LLC | 24 | $ 359,076,456 |
| Roth Capital Partners, LLC | 17 | $ 298,622,379 |
| Chardan Capital Markets | 11 | $ 119,295,553 |
| RBC Capital Markets, Inc. | 6 | $ 318,364,700 |
| Lazard | 6 | $ 194,250,000 |
| Needham & Company, Inc. | 6 | $ 144,485,988 |
| Canaccord Adams, Inc. | 5 | $ 121,835,165 |
| Merriman Curhan Ford & Company | 5 | $ 97,894,985 |
| Thomas Weisel Partners, LLC | 4 | $ 64,853,564 |
| Robert W. Baird & Co. | 3 | $ 136,844,993 |
| Leerink Swann & Co. | 3 | $ 133,324,000 |
| Jefferies & Company, Inc. | 3 | $ 102,672,991 |
| Madison Williams and Company LLC | 3 | $ 97,171,609 |
| Stifel, Nicolaus & Co., Inc. | 3 | $ 88,487,220 |
| Brean Murray, Carret & Co. | 3 | $ 55,599,022 |
| Keefe, Bruyette & Woods, Inc. | 3 | $ 31,166,800 |
| Hunter Wise Securities, LLC | 3 | $ 15,200,155 |
| Taglich Brothers, Inc. | 3 | $ 7,033,000 |
| Merrill Lynch & Co., Inc. | 2 | $ 354,027,499 |
| Sandler O'Neill & Partners, L.P. | 2 | $ 281,803,499 |
| Oppenheimer & Co. Inc. | 2 | $ 96,568,929 |
| FIG Partners, LLC | 2 | $ 66,026,002 |
| Newbridge Securities Corporation | 2 | $ 44,230,792 |
| Deutsche Bank Securities, Inc. | 2 | $ 43,000,000 |
| Maxim Group LLC | 2 | $ 42,902,493 |
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Investment Banking rankings exclude all 144-A Offerings, Equity Lines of Credit, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the Pink Sheets. 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 transactions reported as of 04/06/10. |
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The 2010 U.S. PIPE Market Investment Banking League Table By Total Amount Placed (through 03/31/10): |
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| Placement Agent Name | Transaction Count | Total Amount Placed |
| Rodman & Renshaw, LLC | 24 | $ 359,076,456 |
| Merrill Lynch & Co., Inc. | 2 | $ 354,027,499 |
| RBC Capital Markets, Inc. | 6 | $ 318,364,700 |
| Roth Capital Partners, LLC | 17 | $ 298,622,379 |
| Sandler O'Neill & Partners, L.P. | 2 | $ 281,803,499 |
| Raymond James & Associates Inc. | 1 | $ 221,777,500 |
| Lazard | 6 | $ 194,250,000 |
| Needham & Company, Inc. | 6 | $ 144,485,988 |
| Macquarie Capital Markets Canada Ltd. | 1 | $ 143,470,000 |
| Robert W. Baird & Co. | 3 | $ 136,844,993 |
| Leerink Swann & Co. | 3 | $ 133,324,000 |
| Goldman, Sachs & Co. | 1 | $ 132,249,999 |
| Canaccord Adams, Inc. | 5 | $ 121,835,165 |
| Chardan Capital Markets | 11 | $ 119,295,553 |
| APEX Underwriting Ltd. | 1 | $ 107,586,180 |
| Poalim I.B.I Underwriting & Issuing Ltd. | 1 | $ 107,586,180 |
| Giza Zinger Even Capital Markets Limited | 1 | $ 107,586,180 |
| Leader Issuing (1993) Limited | 1 | $ 107,586,180 |
| Discount Underwriters and Issuing Limited | 1 | $ 107,586,180 |
| Barak Capital Underwriting | 1 | $ 107,586,180 |
| Jefferies & Company, Inc. | 3 | $ 102,672,991 |
| Janney Montgomery Scott, Inc. | 1 | $ 100,912,500 |
| Merriman Curhan Ford & Company | 5 | $ 97,894,985 |
| Madison Williams and Company LLC | 3 | $ 97,171,609 |
| William Blair & Company, LLC | 1 | $ 96,600,000 |
| Investment Banking rankings exclude all 144-A Offerings, Equity Lines of Credit, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the Pink Sheets. 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 transactions reported as of 04/06/10. | ||
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The 2010 U.S. PIPE Market Institutional Investor League Table By Number of Transactions (through 03/31/10): |
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| Investor Name | Transaction Count | Total Amount Invested |
| Iroquois Capital L.P. | 13 | $ 16,734,639 |
| Downsview Capital, Inc. | 11 | $ 9,652,796 |
| Hudson Bay Capital Management L.P. | 10 | $ 66,457,979 |
| LH Financial Services Corporation | 8 | $ 4,496,240 |
| Jayhawk Capital Management, L.L.C. | 7 | $ 7,727,838 |
| Heller Capital Partners | 7 | $ 1,397,299 |
| Midsummer Capital, LLC | 6 | $ 4,400,000 |
| Heights Capital Management, Inc. | 5 | $ 13,960,000 |
| Silver Rock Group | 5 | $ 972,009 |
| Deerfield Management | 5 | $ Not Disclosed |
| Taylor Asset Management, Inc. | 4 | $ 3,985,028 |
| Kingsbrook Partners, LP | 4 | $ 949,995 |
| Shira Capital | 4 | $ 803,863 |
| Daybreak Special Situations Fund | 4 | $ 657,796 |
| Great Point Partners, LLC | 3 | $ 21,118,554 |
| Vision Capital Advisors LLC | 3 | $ 6,300,000 |
| Guerilla Partners LP | 3 | $ 4,880,022 |
| Ramius LLC | 3 | $ 3,499,996 |
| Chardan Capital Markets | 3 | $ 3,310,000 |
| Longboard Capital Advisors | 3 | $ 2,624,970 |
| Chestnut Ridge Partners, L.P. | 3 | $ 1,173,355 |
| Ancora Advisors | 3 | $ 815,000 |
| Sandor Capital Master Fund, LP | 3 | $ 649,000 |
| Gemini Strategies, LLC | 3 | $ 560,000 |
| Trillion Growth China LLP | 3 | $ 460,000 |
| Investor rankings exclude all 144-A Offerings, Equity Lines of Credit, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the Pink Sheets. Investors classified as Corporate Investors and Insurance Companies have been excluded from this ranking. Data is for closed transactions reported as of 04/06/10. | ||
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The 2010 PIPE Market Issuer Counsel League Table By Number of Transactions (through 03/31/10): |
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| Legal Counsel | Transaction Count | Total Amount Advised |
| Dorsey & Whitney, LLP | 9 | $ 349,682,304 |
| Sichenzia Ross Friedman Ference, LLP | 9 | $ 48,616,177 |
| Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC | 8 | $ 68,788,500 |
| Latham & Watkins, LLP | 5 | $ 127,956,455 |
| K&L Gates LLP | 5 | $ 41,295,003 |
| Greenberg Traurig, LLP | 4 | $ 81,614,997 |
| Wilson Sonsini Goodrich & Rosati | 4 | $ 65,166,114 |
| Cooley Godward Kronish LLP | 4 | $ 57,529,439 |
| Pillsbury, Winthrop, Shaw & Pittman, LLP | 4 | $ 44,415,503 |
| Anslow & Jaclin, LLP | 4 | $ 39,799,538 |
| Katten Muchin Rosenman, LLP | 4 | $ 19,447,452 |
| Kirkland & Ellis | 3 | $ 122,312,500 |
| Loeb & Loeb, LLP | 3 | $ 97,556,970 |
| Pryor Cashman Sherman & Flynn, LLP | 3 | $ 75,100,269 |
| Wilmer Cutler Pickering Hale & Dorr, LLP | 3 | $ 46,589,766 |
| Morgan, Lewis & Bockius, LLP | 3 | $ 38,501,500 |
| Gersten Savage, LLP | 3 | $ 9,575,000 |
| Skadden, Arps, Slate, Meagher & Flom, LLP | 2 | $ 1,590,144,729 |
| Paul, Hastings, Janofsky & Walker, LLP | 2 | $ 113,909,352 |
| Venable, LLP | 2 | $ 98,712,337 |
| Baker & McKenzie | 2 | $ 88,040,583 |
| Fulbright & Jaworski, LLP | 2 | $ 42,621,800 |
| O'Melveny & Myers, LLP | 2 | $ 41,919,885 |
| Jones Day | 2 | $ 39,949,999 |
| DLA Piper | 2 | $ 34,454,986 |
| Legal counsel rankings exclude all 144-A Offerings, Structured Equity Lines, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the Pink Sheets. Data is for closed transactions reported as of 01406/10. | ||
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The 2010 PIPE Market Investor Counsel League Table By Number of Transactions (through 03/31/10): |
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| Legal Counsel | Transaction Count | Total Amount Advised |
| Greenberg Traurig, LLP | 21 | $ 278,599,247 |
| Schulte Roth & Zabel, LLP | 11 | $ 405,835,584 |
| Peter J. Weisman, PC | 4 | $ 54,897,101 |
| Lowenstein Sandler, PC | 3 | $ 89,226,324 |
| Orrick, Herrington & Sutcliffe, LLP | 2 | $ 69,600,000 |
| Goodwin Procter, LLP | 2 | $ 41,199,999 |
| Proskauer Rose, LLP | 2 | $ 10,075,001 |
| Kleinberg, Kaplan Wolff & Cohen, PC | 2 | $ 6,575,000 |
| Willkie, Farr & Gallagher | 1 | $6,300,000,000 |
| Cleary, Gottlieb, Steen & Hamilton | 1 | $1,580,906,729 |
| Andrews Kurth, LLP | 1 | $ 124,999,997 |
| King & Wood, LLP | 1 | $ 48,500,000 |
| Skadden, Arps, Slate, Meagher & Flom, LLP | 1 | $ 30,000,000 |
| Dechert, LLP | 1 | $ 25,000,000 |
| Cooley Godward Kronish LLP | 1 | $ 25,000,000 |
| Latham & Watkins, LLP | 1 | $ 22,000,000 |
| Morrison & Foerster, LLP | 1 | $ 19,800,000 |
| Vorys, Sater, Seymour & Pease, LLP | 1 | $ 17,500,000 |
| Katten Muchin Rosenman, LLP | 1 | $ 13,640,000 |
| Pillsbury Winthrop, LLP | 1 | $ 12,000,000 |
| Ropes & Gray | 1 | $ 12,000,000 |
| O'Melveny & Myers, LLP | 1 | $ 7,306,439 |
| Quinn & Brooks, LLP | 1 | $ 5,735,472 |
| Arnold & Porter | 1 | $ 5,652,450 |
| Quarles & Brady, LLP | 1 | $ 5,000,000 |
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Legal counsel rankings exclude all 144-A Offerings, Structured Equity Lines, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the Pink Sheets. Data is for closed transactions reported as of 04/06/10. |
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The 2010 PIPE Market Placement Agent Counsel League Table By Number of Transactions (through 03/31/10): |
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| Legal Counsel | Transaction Count | Total Amount Advised |
| Weinstein Smith LLP | 22 | $ 258,004,768 |
| Lowenstein Sandler, PC | 11 | $ 155,312,433 |
| Proskauer Rose, LLP | 7 | $ 180,311,988 |
| Goodwin Procter, LLP | 5 | $ 78,771,125 |
| Fried, Frank, Harris, Shriver & Jacobson | 2 | $ 354,027,499 |
| Latham & Watkins, LLP | 2 | $ 48,023,000 |
| Blake, Cassels & Graydon LLP | 2 | $ 26,837,286 |
| K&L Gates LLP | 2 | $ 22,541,685 |
| Littman Krooks, LLP | 2 | $ 3,607,500 |
| Hogan & Hartson, LLP | 1 | $ 100,912,500 |
| Hunton & Williams, LLP | 1 | $ 70,859,550 |
| Kilpatrick Stockton, LLP | 1 | $ 60,025,999 |
| Peter J. Weisman, PC | 1 | $ 44,059,608 |
| Skadden, Arps, Slate, Meagher & Flom, LLP | 1 | $ 32,000,000 |
| Sichenzia Ross Friedman Ference, LLP | 1 | $ 30,000,022 |
| Baker Botts, LLP | 1 | $ 29,325,000 |
| Andrews Kurth, LLP | 1 | $ 27,852,787 |
| Godfrey & Kahn, SC | 1 | $ 27,312,500 |
| Leser, Hunter, Taubman & Taubman | 1 | $ 24,801,273 |
| Pillsbury, Winthrop, Shaw & Pittman, LLP | 1 | $ 24,750,000 |
| Grandall Legal Group | 1 | $ 24,750,000 |
| Wilmer Cutler Pickering Hale & Dorr, LLP | 1 | $ 23,000,000 |
| Stikeman Elliott LLP | 1 | $ 23,000,000 |
| Appleby | 1 | $ 21,000,000 |
| Meitar, Liquornik, Geva & Leshem Brandwein | 1 | $ 18,374,125 |
| Legal counsel rankings exclude all 144-A Offerings, Structured Equity Lines, Rights Offerings, Bought Deals, and all PIPE transactions conducted by foreign issuers that trade in the U.S. on the Pink Sheets. Data is for closed transactions reported as of 04/06/10. | ||
About Sagient Research Systems
Sagient Research Systems is a publisher of specialized research and data. We develop, produce, and sell proprietary research products to global enterprises, including investment banks, mutual and hedge funds, pharmaceutical companies, academic institutions, and government agencies. Our business strategy is to continue to leverage our development, technology, and marketing expertise to solidify our position as a leading provider of independent research. In each of 2007, 2008, and 2009 Sagient Research was named to the Inc. 5000 list of fastest growing companies. For more information, please visit the Sagient Research Systems website at www.sagientresearch.com.
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