Sichenzia Ross Friedman Ference LLP First in
the Nation in PIPEs Transactions For The Year End 2004
New York, NY- February
3, 2005- Sichenzia Ross Friedman Ference LLP advised more issuers on private
investment in public equity (PIPE) placements in 2004 than any other law
firm nationwide, according to
The PIPEs Report 2004 Year in Review (01/15/2005). In 2004,
Sichenzia Ross Friedman Ference advised 39 issuers on PIPE placements-
nearly double any other law firm, with a total value of more than $154.95
million.
According to the
report, the PIPE market expanded and matured in 2004, with 1,713
transactions having been consummated, representing a 30% increase over the
1,327 deals closed in 2003. Of these deals, 91%, or 1,542 transactions, were
completed in companies with market caps of less than $250 million, and in
excess of 75%, or 1,216 transactions, were completed in companies with
market caps of less than $100 million. These statistics demonstrate that
PIPEs financing have become the mainstay of small capitalization companies.
Sichenzia Ross Friedman Ference LLP, which represents more than 75 companies
in this market sector, filed more than 70 registration statements for
clients in 2004 and has one of the most active securities departments in the
United States - a position which sealed this #1 ranking.
“This firm’s leadership
in the PIPEs market is largely attributable to the depth and breadth of our
public company client base, which has a constant need for capital to execute
their business plans, as well as the expeditious and effective manner in
which the firm handles these transactions and the subsequent registration
statements,” said Thomas Rose, managing partner of the Firms securities
practice. “Investors are sitting on a lot of money and see attractive
valuations for these companies that have been ignored by other more
traditional sources of capital. This form of financing is also relatively
fast, efficient and attractive to the issuer as well. There were $20
billion dollars in PIPEs transactions in 2004 and from what we’re seeing,
there’s every reason to be optimistic about the industry’s growth as we move
into the new year.”
The Firm, which is a
Premier Sponsor for The 4th Annual Industry Summit on PIPEs to be
held on February 28, 2005 at The Princeton Club, will be sponsoring a Q&A
panel discussion on February 28, 2005 at 4:00 p.m. regarding Investing in
Micro Cap companies.
About
Sichenzia Ross Friedman Ference LLP
Sichenzia Ross
Friedman Ference LLP provides experienced professional representation in all
matters involving the securities industry as well as general corporate and
litigation matters. Our clients range from start-ups to established, listed
companies. They include private and public corporations, partnerships,
broker-dealers, bank-affiliated broker-dealers, investment advisors,
registered personnel, public and corporate customers and investors,
partnerships and other entities. We also advise institutional investors on
transactions involving complex securities law considerations. Our areas of
expertise include corporate and commercial transactions, securities
litigation, and arbitration, administrative practice before regulatory
agencies, mergers and acquisitions and broker-dealer regulation. For
additional information about Sichenzia Ross Friedman Ference’s nationally
ranked PIPEs practice, go to
www.srff.com.
