Sullivan & Cromwell Capital Markets Group co-heads Robert Downes, Cathy Clarkin and Sarah Payne discuss why they expect to see more “PIPE” (private investments in public equity) transactions as the pandemic restrictions continue.
 
As public companies look for additional liquidity in the wake of the COVID-19 pandemic, many are exploring PIPE. Bob, Cathy and Sarah note that a few substantial PIPE transactions have already been completed, and that they expect to see a very active PIPE market over the next few months. In addition to discussing issues to consider when exploring PIPE as alternative financing, such as governance rights and protective security features for investors, they also talk about recent changes in rules and regulations that govern whether the issuer’s shareholders must approve the deal. 

 
More COVID-19 materials are available at our Resource Page.

Sullivan and Cromwell PIPE Experience

S&C’s success is the result of the quality of its lawyers, the most broadly and deeply trained collection of attorneys in the world. Our integrated teams reflect S&C’s hallmark multidisciplinary approach. We have advised accredited investors, issuers and placement agents on numerous private investment in public equity (PIPE) transactions. Our expertise spans the entire range of financial products, including common stock, convertible preferred stock, convertible debt and warrants.

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