As public companies look for additional liquidity in the wake of the COVID-19 pandemic, some are exploring “PIPE” transactions —or private investment in public equity. These transactions, in which a public company issues equity or convertible debt to investors in a private placement, raise a host of considerations, including shareholder approval, antitrust considerations and governance rights.
S&C’s multi-disciplinary teams—including our premier Capital Markets, Finance & Restructuring, M&A and Corporate Governance Groups—have deep experience steering clients through these transactions. We have advised accredited investors, issuers and placement agents on numerous PIPE transactions spanning the entire range of financial products, including common stock, convertible preferred stock, convertible debt and warrants.
Our recent publications and discussions on this topic include:
- Webinar: Bob Downes, Cathy Clarkin and Sarah Payne discuss recent developments in PIPE deals
- S&C Critical Insights Podcast: Ari Blaut and Krishna Veeraraghavan discuss the Value of PIPE transactions during COVID-19
- COVID-19 Crisis Global Capital Markets Opportunities Guide
- Ari Blaut, Krishna Veeraraghavan and Lindsey Meyer co-author Lexis Practice Advisor Practice Note on PIPEs
- S&C PIPE Experience
More COVID-19 materials are available at our Resource Page.