These returns are highly skewed, with the median PIPE investor earning an abnormal return of only 1.7% over the year after issuance. Other active industries for PIPE issuances in 2017 were technology and healthcare. Companies listed on the Nasdaq Capital Market may be eligible for an additional period of 180 days in order to regain compliance if it meets the market value of publicly held shares requirement for continued listing and all other initial inclusion requirements for the Nasdaq Capital Market (except for the bid price) and provides written notice of its intention to cure the deficiency during the additional compliance period. Investment Banking League Table by Number of Transactions: Placement Agent Name. Stephens Inc. served as a Co-Manager in the Offering.On April 14, 2015, Matador Resources Company (NYSE: MTDR) (“Matador" or the "Company") closed a $400 million private offering (the “Offering”) of 6.875% Senior Notes due April 15, 2023. Total Amount Placed . We are dedicated to providing access to the very best data and analytics available in our industry.Financial Intelligence, part of the Informa Intelligence Division of Informa plc, is a leading provider of products and services helping financial institutions around the world cut through the noise and take decisive action. Over the year following the issuance, PIPE investors average a 12.1% abnormal return relative to firms with similar characteristics. 4 0 obj �e���C4�pY�V�!��e�ѦxG�5���5���Â�vG��byR3,��լ���`�-^.��Ү͒��G�!0\�]�n��������@�e�����Mq8��l��N�NH�o8������݈�ӱ�\2;��F��T�H$�6���%B��[���̺���TY�n�J�Ń�Q��2�xɥ>(S��^a���9�;,@i6��-���l9S|��:[���w(�;ۂ0���{X�Y�Z*��\*G�n��h�-���$�@G޳bqr 8a�vA��3��D�]l[��Ny�>Z��m��H��g�'��v�W��O3�*�f�㙵4B0��ZE|дǞ�cy��E�tORō���A��X�g��2E. �Ӆ�g\x� �_�{�%�O��€m��}�{�!e�Y�{W�-���p���O�TW�ʵwm~��Y���1j�-M�K��w���ši�m�Z{?��m3c+݆��T�6� �禬t�s�K��ׁT�6!_fMz^�Z�AYD�h�2 ����m��9��Ҥ�yI�]���\�(�&_�e��ݙ���׾�g�R Matador intends to use the net proceeds from the offering primarily to repay a portion of the outstanding borrowings under its revolving credit facility and the debt assumed in connection with the merger of Harvey E. Yates Company (“HEYCO”) with and into Matador’s wholly-owned subsidiary, to fund a portion of its future capital expenditures and for other general working capital needs.

The last reported sale price of the Company’s stock on the NASDAQ on April 28, 2015 was $30.18 per share. To calculate these “holding period adjusted” returns, we assume that investors sell a constant fraction of the daily volume each trading day from the day the stock is registered until they liquidate their portfolio. Firms raising funds through PIPEs tend to […] x��Wˎ�6��+�*�"fD�����R4E In contrast, PIPE transactions in the media and metals, materials, and stones industries decreased in 2017 as compared to 2016. Transaction Count. Similarly, issuers already involved in Nasdaq’s hearing process for non-compliance (where a determination has not yet been reached in such hearings) will return to the same status after the tolling period has expired.Sheppard Mullin is a full-service Global 100 firm with more than 900 attorneys in 15 offices located in the United States, Europe and Asia. All primary shares were offered by the Company. The last reported sale price of the Company's stock on the NYSE on April 30, 2015 was $21.87 per share. As a point of comparison, U.S. firms with market capitalization below $1 billion raised $240.3 billion in SEOs over the same period.Why do so many firms turn to PIPEs for financing? Stephens Inc. served as a Co-Manager in the offering.On April 9, 2015, The Habit Restaurants, Inc. (NASDAQ: HABT) (“The Habit,” or the “Company”) priced a Follow-On Offering for a deal value of $155 million. Convertible Promissory Notes,Biotechnology Company - According to PrivateRaise, a leading database on PIPE transactions, between 2001 and 2015, there were 11,296 private placements of common stock by U.S. listed firms that raised $243.9 billion. Structured Equity Line,Holding Companies Company -

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