PlacementTracker Names Pryor Cashman Among Most Active Placement Agent Counsel in PIPE Market
PlacementTracker has once again recognized Pryor Cashman as a foremost placement agent counsel in the U.S. Private Investments in Public Equity (“PIPE”) market. The firm was ranked among the top ten nationwide for the highest number of PIPE transactions completed on behalf of its clients in the first half of 2016.
A PIPE is a private investment in public equity whereby a public company sells newly-issued equity securities to accredited investors in a private placement transaction that is exempt from the registration requirements of the Securities Act of 1933. The investors typically require the company to file a registration statement after the transaction is completed to allow the investors to resell the securities in the public market, either through a securities exchange or over the counter.
In one such PIPE transaction, Pryor Cashman represented Ladenburg Thalmann & Co. Inc. in its capacity as underwriter in connection with a public offering of preferred stock and warrants of CombiMatrix Corporation, a molecular diagnostics company specializing in DNA-based testing services for prenatal and postnatal developmental disorders and pre-implantation genetic screening services.
Additionally, the firm represented Joseph Gunnar & Co. in its capacity as placement agent in a registered direct offering of preferred stock of Staffing 360 Solutions, Inc., a public company executing a global buy-and-build strategy through the acquisition of staffing organizations in the U.S. and U.K.
To learn more about the PIPE deals and other transactions Pryor Cashman has recently handled, please read our deal highlights or visit our Corporate practice page.
