Goodwin Procter LLP, a national Am Law 50 firm, has again been ranked as a
law firm leader in advising clients in private investment in public equity
(PIPE) transactions in 2010, according to league tables recently released by
PlacementTracker and PrivateRaise. During 2010, an estimated $40.2 billion
was raised in more than 1200 PIPE transactions. Among the partners from
Goodwin's Boston office working on PIPE tranactions are Jocelyn M. Arel, Edward
A. King, Michael H. Bison, Mitchell S. Bloom.
|Jocelyn M. Arel
||Edward A. King
||Michael H. Bison
||Mitchell S. Bloom|
According to Sagient Research Systems' Placement Tracker, Goodwin ranked
third by deal volume in "The 2010 PIPE Market Placement Agent Counsel League
Table," with 20 transactions totaling more than $422 million in value.
According to PrivateRaise, Goodwin ranked fourth in volume in its 2010 "Top
25 PIPE Placement Agent Law Firms" and tied for eighth in their 2010 "Top 25
PIPE Issuer Law Firms" rankings, advising on 15 transactions totaling more than
$406 million in value.
"We are excited with our performance in this area for 2010, especially given
the challenging economic environment from which we are slowly emerging.
Our high ranking with respect to representing both placement agents and issuers
of PIPEs demonstrates our firm’s focus on the PIPEs space and our ability to add
value on different sides of these transactions," said Michael D. Maline, partner
in Goodwin’s Corporate and Technology Companies/Life Sciences Practices.
"We intend to continue our focus in this arena during what we believe will be a
very busy 2011."
PIPE transactions provide smaller and mid-sized public companies with a
lower-cost and more efficient means of raising capital, when compared to more
traditional forms of equity financing such as secondary offerings.
Attorneys in Goodwin Procter’s Securities & Corporate Finance, Technology
Companies and Private Equity groups actively represent a variety of issuers,
investors, underwriters and placement agents in PIPE transactions and provide
ongoing advice to clients as they access the capital markets to expand business,
provide owner liquidity and achieve long-term objectives. Industries
represented include cleantech, life sciences and technology.
PlacementTracker, a flagship product of Sagient Research Systems, and
PrivateRaise, a product of DealFlow Media, deliver research and database
solutions to investment managers, banks, public corporations, law firms and
financial companies worldwide. PIPE League Tables contain rankings for
deal participants active in the marketplace, including issuers, investors,
placement agents and law firms.