PIPEs: A Guide to Private Investments in Public Equity: Revised and Updated Edition

CHAPTER 2

The Marketplace A Statistical Summary

E. KURT KIM

PrivateRaise, LLC

 

 

 

 

The PIPE marketplace has been utterly transformed during the past decade from a fledgling cottage industry into a dynamic and robust sector of the corporate finance landscape. From the mid- 1990s until 2004, private investments in public equity morphed from a little-understood and seldom-used financing vehicle for the smallest of public corporations into a viable, and often preferred, financing tool for a much broader market. Over the years, the appeal of PIPEs—as a capital-raising alternative for public corporations and as an alternative asset class investment strategy for varying investors—has expanded far beyond the historical base of small, credit-challenged ...