COMPANION TO PRIVATE EQUITY, Douglas J. Cumming, ed., Wiley, 2009
37 Pages Posted: 1 Mar 2009 Last revised: 12 Mar 2009
Date Written: February 28, 2009
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.
Keywords: Private Investment in Public Equity
Suggested Citation: 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: https://ssrn.com/abstract=1350950