subject: Rodman & Renshhaw (NASDAQ: RODM) #1 in PIPE [print this page] The spot for the leading position in Private Investment in Public Entity (PIPE) transaction deal volume during the first three quarters of 2010 has once again been claimed by Rodman & Renshaw, LLC, for the fifth year in a row (almost makes us wonder if there's any competition). Published by Sagient Research Systems, the PlacementTracker's PIPE Market League Tables is well recognized as the leading provider of research, data, and analytics covering the PIPE market.
During the first three quarters of 2010 Rodman completed 50 transactions raising a total of $643 million. According to Sagient Research Systems, Rodman has been ranked the #1 Placement Agent in terms of deal volume of PIPE and RD financing transactions completed every year since 2005.
Tassanee Sukramule, Vice President of PlacementTracker, said, "Overall, we've seen 1,073 deals for $50.8 billion placed in 2010 (81 deals for $14 billion were announced that have not yet closed). This represents an astounding increase of 50% in the number of deals reported versus the same period last year. We're optimistic that this trend in upfront financing signals increased investor confidence. We congratulate all of the active members of the PIPE community for continued success in 2010."
Rodman & Renshaw is a full-service investment bank dedicated to providing corporate finance, strategic advisory and related services to public and private companies across multiple sectors and regions. Rodman also provides research and sales and trading services to institutional investors. Rodman is the leader in the PIPE (private investment in public equity) and RD (registered direct offering) transaction markets.
September was a great month for the investment banking firm. On September 14th, 2010, Rodman entered into an agreement for the acquisition of specified assets related to the OTC Bulletin Board, which is currently operated by FINRA. The acquisition is subject to negotiation and execution of definitive documentation and regulatory approvals. It is expected that the transaction will close in the first quarter of 2011.
Rodman has also been busy raising cash for Virginia Commerce Bancorp, Inc. to the tune of $10M in a private stock offering. The company also advises publically-traded firms, including Millenium Capital Corporation who sought Rodman's expertise in connection with a recent stock option exercise by Tata Steel relating to NML's Schefferville Direct Shipping Ore JV project, which would provide up to $300M in financing to the company.
