PIPES in 2007

Rodman and Renshaw, LLC was ranked numero uno (#1) for the most active investment bank while Enable Capital Management ranked as the number one most active institutional investor in the PIPE market in 2007.

From Sagient Research comes the following information for the PIPE market for 2007:

• Sichenzia Ross Friedman Ference, LLP ranked as the number one most active issuer counsel
• Schulte Roth & Zabel, LLP ranked as the number one most active investor counsel in the PIPE market in 2007.
• PIPE market with a total of $83.59 Billion raised in 1,434 transactions. 2007 is the fourth consecutive record-setting year in the PIPE market.

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 League Tables, Robert F. Kyle, executive vice president of Sagient Research said, “The PIPE market hit historic levels in 2007. With over $45 Billion raised in the fourth quarter alone, the 2007 full year total exceeded the previous record level of $29.35 Billion set in 2006 by 185%. Contributing significantly to this year’s activity was the series of mega-PIPE transaction undertaken in the second half of the year by financial services firms seeking to bolster their balance sheets in response to subprime debt related write-downs. Excluding these approximately $40 Billion in transactions, 2007 was still a record year for conventional PIPE issuances, exceeding the 2006 total by 50%. Based on the activity this year, this is no longer a question that the PIPE market is a critical component of the corporate financing landscape and we fully expect growth in the market to continue at all levels in 2008. As always, we congratulate all of the active agents, investors, and legal counsel in the PIPE market for a tremendous first quarter, especially those leaders who topped the League Tables. Many of these firms are long-time clients of PlacementTracker, and we look forward to continuing to provide them with industry leading data, research, and analytics to help keep them on top of this market.”

PlacementTracker’s dynamically updating League Tables are available online at: http://www.sagientresearch.com/pt/leaguetables.cfm.