SAN DIEGO, Oct. 26, 2004 (PRIMEZONE) -- Sagient Research Systems (OTC BB:SRYS.OB - News), a leading publisher of independent research for the financial services and institutional investment communities, today announced that Roth Capital Partners, LLC ranked as the No. 1 investment bank in the PIPE market in the third quarter of 2004 for total number of transactions and that UBS Investment Bank ranked as the No. 1 investment bank in the PIPE market in the third quarter of 2004 for total dollars raised. Laurus Funds topped the list of most active institutional investors during the third quarter of 2004.Contact:
PlacementTracker, a flagship product of Sagient Research Systems, is well recognized as the leading provider of research, data, and analytics covering the PIPE market.
Commenting on the League Tables, Robert F. Kyle, executive vice president of Sagient Research said, ``A slowing in PIPE market activity that started in the second quarter continued in the third quarter of 2004. We believe that the weakness and low liquidity in the general market were the main catalysts for the decreased activity. In addition, pending regulatory action and uncertainty surrounding the upcoming presidential election may have contributed to the slowdown. In response to these conditions, we also took note of a slight up-tick in the issuance of Structured PIPEs (PIPEs that involve some degree of contractual price protection). Overall, we expect that 2004 will finish strong in the PIPE market and propel us to near-record levels for completed transactions. As always, we congratulate all of the active agents and investors in the PIPE market for their third quarter performance, especially those leaders who topped the League Tables. Many of these firms are long-time clients of PlacementTracker, and we look forward to continuing to provide them with industry leading data, research, and analytics to help keep them on top of this market.''
PlacementTracker's dynamically updating League Tables are now available online at: http://www.sagientresearch.com/pt/leaguetables.cfm.
The Q3 2004 PIPE Market Investment Banking League Table By Dollar Amount Raised Placement Agent Name Transaction Count Total Amount Raised UBS Investment Bank 1 $92,016,994 CIBC World Markets 2 $84,371,988 Lazard Freres & Co.,LLC. 2 $73,344,985 Banc of America Securities 3 $53,345,000 Roth Capital Partners, LLC. 7 $52,485,481 SG Cowen & Co., LLC. 2 $41,491,419 Aton Securities, Inc. 2 $40,837,360 The Kriegsman Group 1 $40,000,000 The Shemano Group, Inc. 4 $36,500,000 Tejas Securities Group,Inc. 1 $31,500,000 Rodman & Renshaw, LLC. 3 $30,750,000 ThinkEquity Partners 1 $27,507,970 Burnham Hill Partners 3 $26,139,042 C.E. Unterberg, Towbin 2 $21,679,870 Carnegie ASA 1 $21,654,960 Enskilda Securities ASA 1 $21,654,960 Fearnley Fonds ASA 1 $21,654,960 Credifinance Securities Limited 1 $18,337,360 Cohen & Steers Capital Advisors 1 $17,750,000 Harris Nesbitt Corp. 1 $16,749,999 Morgan Keegan & Company, Inc. 2 $16,383,903 HPC Capital Management, Corp 3 $15,300,000 RBC Capital Markets, Inc. 1 $15,082,999 Lane Capital Markets, LLC. 1 $15,000,000 Pritchard Capital Partners 2 $14,640,000
Investment Banking rankings exclude all Equity Line of Credit transactions and all PIPE transactions conducted by Canadian domiciled issuers. On transactions where an investment banking firm has acted solely as Financial Advisor, that transaction has been excluded from that firm's ranking. Co-agented transactions award full transaction credit to all agents participating (regardless of status of lead agent or co-agent). Data is reported as of 10/26/04.
The Q3 2004 PIPE Market Investment Banking League Table By Number of Transactions Placement Agent Name Transaction Count Total Amount Raised Roth Capital Partners,LLC. 7 $52,485,481 The Shemano Group,Inc. 4 $36,500,000 Ascendiant Securities,LLC. 4 $14,200,000 H. C. Wainwright & Co.,Inc. 4 $ 5,985,000 Banc of America Securities 3 $53,345,000 Rodman & Renshaw,LLC. 3 $30,750,000 Burnham Hill Partners 3 $26,139,042 HPC Capital Management Corp 3 $15,300,000 JPC CapitalPartners,Inc. 3 $11,850,000 Jesup & Lamont Securities Corp 3 $11,777,650 Sands Brothers & Co.,Ltd. 3 $ 7,339,900 Casimir Capital L.P. 3 $ 6,694,550 Duncan Capital,LLC. 3 $ 4,492,375 CIBC World Markets 2 $84,371,988 Lazard Freres & Co.,LLC. 2 $73,344,985 SG Cowen & Co.,LLC. 2 $41,491,419 Aton Securities,Inc. 2 $40,837,360 C.E. Unterberg, Towbin 2 $21,679,870 Morgan Keegan & Company, Inc. 2 $16,383,903 Pritchard Capital Partners,LLC. 2 $14,640,000 William Blair & Company ,LLC. 2 $14,305,050 Burnham Securities 2 $ 9,000,000 Olympus Securities,LLC. 2 $ 5,880,000 J.P. Turner & Co. 2 $ 4,650,001 C.K. Cooper & Co.,Inc. 2 $ 4,080,000 Investment Banking rankings exclude all Equity Line of Credit transactions and all PIPE transactions conducted by Canadian domiciled issuers. On transactions where an investment banking firm has acted solely as Financial Advisor, that transaction has been excluded from that firm's ranking. Co-agented transactions award full transaction credit to all agents participating (regardless of status of lead agent or co-agent). Data is reported as of 10/26/04.
The Q3 2004 PIPE Market Institutional Investor League Table By Number of Transactions Investor Name Transaction Count Total Amount Invested Laurus Funds 18 $70,750,000 Highbridge International, LLC 13 $28,471,657 Vertical Ventures Investments 12 $ 7,074,985 Ramius Capital Group,LLC 10 $16,539,774 DKR Management Company, Inc 10 $ 8,449,965 Kingsport Capital Partners, LLC 9 $13,250,000 Bristol Capital Advisors,LLC 9 $ 6,733,875 LH Financial Services Corp 8 $ 3,699,999 Omicron Capital,LP 8 $ 8,829,988 SRG Capital,LLC 8 $ 1,744,999 Millennium Management, LLC 7 $28,600,001 Canaccord Capital Corporation 7 $ 3,899,750 GreenLight(Switzerland) SA 7 $ 2,586,000 The Mercator Group 6 $17,150,000 NIR Group,LLC 6 $ 8,125,000 BayStar Capital,LP 6 $ 7,549,985 Heights Capital Management,Inc 5 $ 5,312,100 GSSF Master Fund, LP. 5 $ 2,600,002 Andrew Carter Capital, Inc 5 $ 649,999 Pequot Capital Management,Inc 4 $21,850,725 Staro Asset Management, LLC 4 $ 9,999,400 Balyasny Asset Management,LP 4 $ 7,160,023 Bluegrass Growth Fund Partners 4 $ 3,149,728 Ram Capital Resources, LLC 4 $ 1,303,976 Downsview Capital,Inc 4 $ 1,299,999 Investor rankings exclude all Equity Line of Credit transactions and all PIPE transactions conducted by Canadian domiciled issuers. Investors classified as Corporate Investors and Insurance Companies have been excluded from this ranking. Data is reported as of 10/26/04.
About Sagient Research Systems
Sagient Research Systems is a publisher of independent research. We develop, produce, and sell proprietary research products to mutual funds, hedge funds, and investment banks. Our business strategy is to continue to leverage our development, technology, and marketing expertise to solidify our position as a leading provider of independent research to the financial services and institutional investment communities. For more information, please visit the Sagient Research Systems website at http://www.sagientresearch.com.
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Sagient Research Systems Brian M. Overstreet President & CEO (858) 200-2350
Source: Sagient Research Systems