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SOURCE TheStreet, Inc.
Sabby Management, Latham & Watkins Pave Path as Top Firms
NEW YORK, Oct. 2, 2017 /PRNewswire/ -- Private-investment-in-public-equity (PIPE) offerings raised almost $20 billion dollars in the third quarter of 2017. PIPEs raised $17.46 billion in the previous quarter and $21 billion in the same period last year, according to The Deal's PrivateRaise (a business unit of TheStreet, Inc., NASDAQ: TST).
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 $21 billion third quarter of last year," said Paul Springer, senior reporter at The Deal. "Technology did not generate as much capital as usual, but it probably will in the final quarter, when energy investment will also pick up as oil and gas companies start replacing infrastructure damaged by the recent hurricanes."
The Deal's exclusive League Table ranking tracks PIPEs that raise at least $1 million between January 1 and September 15, 2017. Some highlights from the report:
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), an unbiased source of business news and market analysis for investors; BoardEx ( www.boardex.com), a relationship mapping service of corporate directors and officers; and RateWatch (www.rate-watch.com), which supplies rate and fee data from banks and credit unions across the U.S.
Contact: Jon Kostakopoulos, 212-321-5561, Jon.Kostakopoulos at thestreet.com
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