Analysis of PIPE issuance for 12 months through January 2008

Columns are amount in billions of dollars, count of deals, percentage of total in dollars.

Proceeds

	2/2007	3/2007	4/2007	5/2007	6/2007	7/2007	8/2007	9/2007	10/2007	11/2007	12/2007	1/2008
Less than $1 million	0.001	0	0.001	0.002	0.005	0.003	0.003	0.002	0.003	0.002	0.001	0
$1-1.99 million	0.028	0.033	0.037	0.040	0.036	0.023	0.027	0.025	0.025	0.020	0.018	0.019
$2-2.99 million	0.035	0.036	0.043	0.037	0.046	0.049	0.045	0.023	0.027	0.017	0.048	0.031
$3-4.99 million	0.053	0.096	0.103	0.061	0.069	0.067	0.064	0.086	0.075	0.054	0.081	0.050
$5-9.99 million	0.181	0.200	0.077	0.144	0.129	0.117	0.129	0.104	0.080	0.198	0.158	0.071
$10-14.99 million	0.181	0.116	0.194	0.126	0.162	0.168	0.232	0.047	0.138	0.189	0.154	0.030
$15-$49.99 million	0.251	0.583	0.440	0.834	0.609	0.393	0.339	0.168	0.396	0.783	0.712	0.232
$50 million and higher	3.706	0.976	1.326	2.209	2.812	2.851	2.751	1.340	2.346	9.562	12.089	20.507
Total	4.435	2.039	2.222	3.454	3.867	3.672	3.589	1.795	3.090	10.826	13.262	20.940
	Q2/2007	Count	Q3/2007	Count	Q4/2007	Count	Q1/2008	Count	YTD	Count	Total	Count	YTD Share
Less than $1 million	0.009	16	0.009	19	0.006	14	0	0	0	0	0.025	53	0.00%
$1-1.99 million	0.113	84	0.075	57	0.063	48	0.019	14	0.019	14	0.331	249	0.09%
$2-2.99 million	0.126	54	0.117	50	0.092	40	0.031	13	0.031	13	0.436	187	0.15%
$3-4.99 million	0.233	61	0.217	58	0.211	57	0.050	13	0.050	13	0.859	229	0.24%
$5-9.99 million	0.350	52	0.350	54	0.436	66	0.071	10	0.071	10	1.588	236	0.34%
$10-14.99 million	0.482	41	0.446	38	0.480	42	0.030	3	0.030	3	1.735	150	0.14%
$15-$49.99 million	1.883	76	0.900	37	1.892	74	0.232	10	0.232	10	5.741	228	1.11%
$50 million and higher	6.347	30	6.942	25	23.997	34	20.507	6	20.507	6	62.475	114	97.93%
Total	9.542	414	9.055	338	27.178	375	20.940	69	20.940	69	73.190	1446	100.00%
Type
	2/2007	3/2007	4/2007	5/2007	6/2007	7/2007	8/2007	9/2007	10/2007	11/2007	12/2007	1/2008
convertible notes	0.254	0.202	0.862	0.412	0.235	0.152	0.218	0.558	0.637	0.287	5.592	1.443
convertible preferreds	2.420	0.617	0.150	0.279	0.637	0.296	2.074	0.049	0.112	7.807	0.246	19.127
equity line	0.010	0.045	0.055	0.124	0.067	0.040	0.169	0.100	0.225	0.060	0.070	0.023
notes with warrants	0.017	0.025	0.042	0.005	0.086	0.065	0.038	0.005	0.185	0.085	0.107	0.048
preferreds with warrants	0.001	0	0.001	0	0	0	0	0	0.004	0.005	0	0
stock	1.598	0.957	0.943	2.554	2.711	2.988	0.884	0.999	1.894	2.286	7.070	0.264
units of stock and warrants	0.136	0.192	0.169	0.080	0.132	0.111	0.206	0.083	0.033	0.286	0.176	0.034
warrants	0	0	0	0	0	0.020	0	0	0	0.009	0	0.001
Total	4.435	2.039	2.222	3.454	3.867	3.672	3.589	1.795	3.090	10.826	13.262	20.940
	Q2/2007	Count	Q3/2007	Count	Q4/2007	Count	Q1/2008	Count	YTD	Count	Total	Count	YTD Share
convertible notes	1.509	107	0.928	92	6.517	93	1.443	21	1.443	21	10.852	379	6.89%
convertible preferreds	1.066	51	2.420	43	8.165	42	19.127	8	19.127	8	33.815	169	91.34%
equity line	0.246	15	0.308	10	0.356	14	0.023	2	0.023	2	0.989	46	0.11%
notes with warrants	0.133	21	0.108	15	0.377	23	0.048	4	0.048	4	0.709	73	0.23%
preferreds with warrants	0.001	1	0	0	0.009	3	0	0	0	0	0.011	5	0.00%
stock	6.207	161	4.870	127	11.250	139	0.264	26	0.264	26	25.147	553	1.26%
units of stock and warrants	0.380	58	0.400	50	0.495	59	0.034	7	0.034	7	1.638	217	0.16%
warrants	0	0	0.020	1	0.009	2	0.001	1	0.001	1	0.030	4	0.00%
Total	9.542	414	9.055	338	27.178	375	20.940	69	20.940	69	73.190	1446	100.00%
Warrants
	2/2007	3/2007	4/2007	5/2007	6/2007	7/2007	8/2007	9/2007	10/2007	11/2007	12/2007	1/2008
Yes	0.538	0.741	0.536	0.668	0.900	0.462	0.642	0.323	0.505	0.866	5.584	0.284
No	3.898	1.298	1.685	2.786	2.966	3.209	2.946	1.472	2.584	9.960	7.678	20.656
Total	4.435	2.039	2.222	3.454	3.867	3.672	3.589	1.795	3.090	10.826	13.262	20.940
	Q2/2007	Count	Q3/2007	Count	Q4/2007	Count	Q1/2008	Count	YTD	Count	Total	Count	YTD Share
Yes	2.105	251	1.428	210	6.956	219	0.284	41	0.284	41	12.052	889	1.36%
No	7.437	163	7.628	128	20.222	156	20.656	28	20.656	28	61.138	557	98.64%
Total	9.542	414	9.055	338	27.178	375	20.940	69	20.940	69	73.190	1446	100.00%
Use of Proceeds
	2/2007	3/2007	4/2007	5/2007	6/2007	7/2007	8/2007	9/2007	10/2007	11/2007	12/2007	1/2008
Acquisition	3.206	0.304	0.158	0.948	1.415	1.940	0.092	0.799	0.046	0.169	0.153	0.069
Capex	0.074	0.262	0.383	0.114	0.046	0.096	0.031	0.414	0.463	0.405	0.252	0.147
GCP	0.403	0.741	0.292	0.916	0.289	0.196	0.547	0.320	0.218	8.285	5.410	12.539
Repay debt	0.256	0.252	0.003	0.274	0.156	0.888	0.080	0	0.009	0.216	0.033	1.308
Multiple/Other/NA	0.496	0.481	1.386	1.202	1.961	0.553	2.839	0.262	2.353	1.751	7.414	6.877
Total	4.435	2.039	2.222	3.454	3.867	3.672	3.589	1.795	3.090	10.826	13.262	20.940
	Q2/2007	Count	Q3/2007	Count	Q4/2007	Count	Q1/2008	Count	YTD	Count	Total	Count	YTD Share
Acquisition	2.521	20	2.830	22	0.369	24	0.069	5	0.069	5	9.300	90	0.33%
Capex	0.543	24	0.541	18	1.120	33	0.147	8	0.147	8	2.687	103	0.70%
GCP	1.497	117	1.063	103	13.913	68	12.539	13	12.539	13	30.155	378	59.88%
Repay debt	0.433	8	0.968	11	0.258	13	1.308	3	1.308	3	3.475	42	6.25%
Multiple/Other/NA	4.548	245	3.653	184	11.518	237	6.877	40	6.877	40	27.574	833	32.84%
Total	9.542	414	9.055	338	27.178	375	20.940	69	20.940	69	73.190	1446	100.00%
Industry Sector (by SIC code)
	2/2007	3/2007	4/2007	5/2007	6/2007	7/2007	8/2007	9/2007	10/2007	11/2007	12/2007	1/2008
Agriculture (0xxx)	0.003	0.001	0.004	0.023	0	0.042	0	0	0.026	0	0	0
Mining (1xxx)	0.044	0.081	0.104	0.115	0.065	0.018	0.078	0.367	0.185	0.340	0.104	0.008
Oil and gas (13xx)	2.202	0.149	0.099	1.196	0.212	2.558	0.033	0.477	0.119	0.244	0.190	0.056
Construction (15xx)	0	0	0	0	0	0.001	0	0.005	0.002	0.003	0	0
Manufacturing (2xxx, 3xxx)	0.541	0.406	0.243	0.412	1.075	0.157	0.343	0.239	0.660	0.995	0.355	0.240
Pharmaceuticals (2834-6)	0.266	0.373	0.250	0.452	0.504	0.155	0.416	0.165	0.379	0.615	0.327	0.089
Transportation (4xxx)	0.002	0.001	0.313	0.015	0.003	0.003	0.005	0	0.007	0.061	0.337	0.004
Communications (48xx)	0.054	0.362	0.022	0.017	0.024	0.077	0.120	0.031	0.022	0.068	0.052	0.047
Electric, gas, sanitary services (49xx)	0.777	0.110	0.265	0.034	1.437	0.204	0.030	0.354	0.355	0.004	0.058	0.002
Wholesale (5xxx)	0.002	0.069	0.031	0.004	0.074	0.103	0.024	0	0.009	0.117	0.061	0.003
Finance, insurance, real estate (6xxx)	0.104	0.334	0.658	0.947	0.208	0.070	2.341	0.015	0.008	8.043	11.618	20.440
Services (7xxx)	0.353	0.100	0.204	0.141	0.230	0.190	0.177	0.129	1.300	0.171	0.148	0.040
Health services (8xxx)	0.067	0.018	0.011	0.052	0.003	0.087	0.001	0	0.003	0.132	0.013	0.010
Non-operating (9995)	0.020	0.035	0.017	0.045	0.030	0.005	0.021	0.013	0.014	0.035	0	0
Total	4.435	2.039	2.222	3.454	3.867	3.672	3.589	1.795	3.090	10.826	13.262	20.940
	Q2/2007	Count	Q3/2007	Count	Q4/2007	Count	Q1/2008	Count	YTD	Count	Total	Count	YTD Share
Agriculture (0xxx)	0.027	5	0.042	2	0.026	3	0	0	0	0	0.099	12	0.00%
Mining (1xxx)	0.285	27	0.463	17	0.629	33	0.008	4	0.008	4	1.510	98	0.04%
Oil and gas (13xx)	1.507	30	3.069	28	0.552	29	0.056	2	0.056	2	7.535	114	0.27%
Construction (15xx)	0	0	0.006	2	0.005	2	0	0	0	0	0.011	4	0.00%
Manufacturing (2xxx, 3xxx)	1.730	137	0.739	96	2.010	97	0.240	27	0.240	27	5.666	436	1.15%
Pharmaceuticals (2834-6)	1.206	63	0.736	50	1.320	45	0.089	10	0.089	10	3.989	207	0.43%
Transportation (4xxx)	0.331	3	0.008	2	0.404	10	0.004	2	0.004	2	0.751	19	0.02%
Communications (48xx)	0.063	11	0.229	23	0.142	21	0.047	3	0.047	3	0.898	67	0.22%
Electric, gas, sanitary services (49xx)	1.736	11	0.588	6	0.417	15	0.002	1	0.002	1	3.629	42	0.01%
Wholesale (5xxx)	0.109	13	0.127	10	0.187	19	0.003	2	0.003	2	0.498	49	0.01%
Finance, insurance, real estate (6xxx)	1.814	22	2.426	14	19.668	37	20.440	9	20.440	9	44.787	94	97.61%
Services (7xxx)	0.575	68	0.496	74	1.619	52	0.040	6	0.040	6	3.183	237	0.19%
Health services (8xxx)	0.067	12	0.088	6	0.148	10	0.010	3	0.010	3	0.399	39	0.05%
Non-operating (9995)	0.092	12	0.039	8	0.049	2	0	0	0	0	0.234	28	0.00%
Total	9.542	414	9.055	338	27.178	375	20.940	69	20.940	69	73.190	1446	100.00%

Criteria

* The tables include all dollar-denominated offerings sold as private placements, excluding Rule 144A deals.

* Stock must be listed on a U.S. exchange or trade on the Bulletin Board or Pink Sheets.

* Offerings are included in the time period in which they price, if known, otherwise by settlement date or announcement date.

* Amounts are based on the total sales price (face amount or number of shares multiplied by the offering price).

* Each tranche is counted as a separate deal.

* Includes stock, securities convertible into stock, units of these securities and equity lines of credit.

* Minimum issue size $1 million (all tranches combined).

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.