SAN DIEGO, Oct. 6, 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 Hudson Bay Capital Management ranked as the number one most active institutional investor in the U.S. PIPE market during the first three quarters of 2010.
Sagient Research also announced that Sichenzia Ross Friedman Ference, 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 first nine months 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, "Overall, we've seen 1,073 deals for $50.8 billion placed in 2010 (81 deals for $14 billion were announced that have not yet closed). This represents an astounding increase of 50% in the number of deals reported versus the same period last year. While underwritten and registered deals continue to dominate the PIPE space, we've also seen a marked increase in structured equity lines (SELs) and at-the-market (ATM) offerings. Rounding out the third quarter in 2009, we saw 64 SELs and 13 ATMs. For the same period in 2010, we've already recorded 112 SELs and 34 ATMs. In addition, more and more of these SEL investors are willing to pony up cash upfront before the equity line shares are registered. We're optimistic that this trend in upfront financing signals increased investor confidence. 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 devoted to providing them with the highest caliber data available on our industry."
PlacementTracker's dynamically updating League Tables are available online at: http://www.sagientresearch.com/pt/leaguetables.cfm.
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, 2009, and 2010 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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CONTACT: Sagient Research Systems Tassanee Sukramule 858-200-2395