BOSTON, January 12, 2011 – 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.
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.
About Goodwin Procter
Goodwin Procter LLP is one of the nation’s leading law firms with offices in Boston, Hong Kong, London, Los Angeles, New York, San Diego, San Francisco, Silicon Valley, and Washington, D.C. The firm’s core areas of practice are corporate, litigation and real estate, with specialized areas of focus that include financial services, private equity, technology, REITs and real estate capital markets, intellectual property, products liability and mass torts. Information may be found at www.goodwinprocter.com.