Abstract

http://ssrn.com/abstract=1350950
 
 

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The Rise of the PIPE Market


Na Dai


State University of New York at Albany - School of Business & Center for Institutional Investment Management

February 28, 2009

COMPANION TO PRIVATE EQUITY, Douglas J. Cumming, ed., Wiley, 2009

Abstract:     
The article provides an overview of the emerging PIPE market and existing academic research in this area. I start with an introduction of the PIPE market, such as the definition of PIPE, security structure, and commonly used contract terms. Then I review existing papers examining the cost of PIPEs, returns to PIPE investors, and the role of placement agents in the offering. I also discuss recent SEC enforcement on hedge funds who involved in some PIPE transactions. Finally, I analyze how the current financial crisis has impacted the PIPE market and where this market is heading for.

Number of Pages in PDF File: 37

Keywords: Private Investment in Public Equity

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Date posted: March 1, 2009 ; Last revised: March 12, 2009

Suggested Citation

Dai, Na, The Rise of the PIPE Market (February 28, 2009). COMPANION TO PRIVATE EQUITY, Douglas J. Cumming, ed., Wiley, 2009. Available at SSRN: http://ssrn.com/abstract=1350950

Contact Information

Na Dai (Contact Author)
State University of New York at Albany - School of Business & Center for Institutional Investment Management ( email )
1400 Washington Ave.
Albany, NY 12222
United States
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