Private Placements + PIPEs

Our lawyers regularly advise issuers, agents and investors in connection with private placements of equity, debt and hybrid securities. Private placements may be the first stop for a venture capital or entrepreneurial client, or an alternative for a well-established issuer needing to raise capital when the public equity markets are unavailable.

We work with our financial institution clients to devise new distribution methodologies for securities, such as the PIPE transaction. Created by Morrison & Foerster lawyers in 1985, the PIPE (private investment in public equity) transaction has become a key financing alternative. Regional banks, REITs, biotech and technology-based companies all have used PIPEs to raise capital in tough markets.

For more about PIPEs and registered directs, see Recent Attorney Publications.

• PIPE Transaction: Problem, Creativity, Solution
• Hedging PIPEs

• Download a copy of our book, JOBS Act Quick Start: A brief overview of the JOBS Act (2013), by Nilene Evans, David Lynn and Anna Pinedo.
• Exempt and Hybrid Securities Offerings by Anna T. Pinedo and James R. Tanenbaum. Published by Practising Law Institute. Order the treatise here.
  Exempt and Hybrid Securities Offerings is the first and only treatise devoted exclusively to these increasingly popular financing techniques. The treatise provides a legal and regulatory perspective on private/public securities offerings. The book offers procedural guidance helpful in avoiding common pitfalls and executing successful securities offerings.
• Frequently Asked Questions about PIPEs
• Frequently Asked Questions about Registered Directs

Download Considerations for Foreign Banks Financing in the US (2012).