PIPEs: A Guide to Private Investments in Public Equity

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Steven Dresner, E. Kurt Kim
Wiley, Oct 1, 2003 - Business & Economics - 368 pages
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"Pipes, " or Private Investments in Public Equity, are attracting tremendous interest on Wall Street. In recent years, these privatley negotiated transactions have become an attractive financing alternative for companies seeking capital and investors seeking high returns. In PIPE transactions, public companies issue stock and bonds directly (and often discreetly) to large institutional investors, rather than trying to raise capital in the stock and bond markets. PIPEs details how these deals are done, for what reasons, and with what caveats. The book describes deal structures, legal considerations, and terminology specific to investments in private placement transactions. It contains contributions by the foremost practitioners in this rapidly growing area whose participants have been closelipped, until now. PIPEs is a must-read for anyone involved with the equity markets.

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PIPEs: a guide to private investments in public equity

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Between the world of private placements, in which large financial institutions make long-term investments in companies, and the world of public stock markets, which are open to all and regulated by ... Read full review

About the author (2003)

STEVEN DRESNER was formerly a vice president in the investment banking group at Ladenburg Thalmann & Co., a top performing placement agent for PIPE transactions. In addition, he served as chairman and chief executive officer of VCOM Corporation. Mr. Dresner has moderated many discussions on the topic of PIPEs and has published articles in several trade journals.

Kim is the founder and chief executive officer of PrivateRaise, L.L.C.

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