Getting into the PIPEline

Report
Presented by,
Sara LaFever
Sagient Research Systems
ATM (At the Market) Offering
76
55
Common Stock
102
Common Stock - CMPO/Overnight
Offering
29
Common Stock - Rights Offering/Reset
264
157
Common Stock - Shelf Sale (Registered
Direct)
Convertible - Fixed
Convertible - Floating/Reset/Company
Installment
86
89
21
Non-Convertible Debt/Preferred Stock
Structured Equity Line
125
100
75
105
104
81
50
30
25
0
2012 (YTD)
2011
2012 (YTD)


Only 1 ATM in 2006
Popularity rose 2009
2010
2011
2010


2009
2009
Exploded in 2010
Continues to expand
*Based on Closing dates
17
30
REITS
Healthcare
24
131
45
Energy
Financial
Industrial
78
Other
 Healthcare includes Biotech & Pharma
 Industrial includes Electronics, Transportation,
 Energy includes Oil & Gas, Pipelines
Engineering
 Financial includes Banks, Closed-end Funds,
 Other includes Utilities, Technology, Mining,
Diversified Financial Services, Investment Companies
Communications
* Data from 2009-present
203
REITS
1623
1297
Healthcare
Energy
Financial
Industrial
479
445
Other
406
*Data from 2009-present
Market Cap
90
80
70
60
83
71
50
40
44
30
49
33
20
22
10
18
0
Under 100M
100M-500M
500M-1B
1B-2B
2B-5B
5B-10B
Over 10B
 Most ATM issuers are in $100M-$500M range
345
340

343

335

330
ATMs YTD:102
CMPOs YTD: 89
CMPOs tend to be popular
in the healthcare sector
325
320
321
315
310
CMPO
ATM
*Data from 2009-present
Average Placement Average Sum of
Agent Fees
Gross Proceeds
Average
Commitment
Amount
ATM
2.54%
$46,741,445.65
$140,109,207
CMPO
5.65%
$48,575,205.68
N/A
*Data from 2009-present
Ranking
Placement Agent Name
1.
Bank of America Merrill Lynch
2.
Cantor Fitzgerald & Company
3.
MLV & Co. LLC
4.
Wells Fargo Securities, LLC
5.
Deutsche Bank Securities, Inc.
Deal Count
50
47
38
34
25
24
6.
Citigroup Global Markets, Inc.
7.
J.P. Morgan Chase & Co.
21
8.
Morgan Stanley
20
9.
KeyBanc Capital Markets
10.
UBS Securities LLC
19
17
*Data from 2009-present

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