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. 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.

Read more about PIPEs and registered directs:

• PIPEs and Registered Directs: Back to the Future
  (First appeared in Financier Worldwide magazine’s 2006 Private Equity & Venture Capital Review; pdf format, 180 KB)
• PIPE Transaction: Problem, Creativity, Solution
  (pdf format, 155 KB)
• Hedging PIPEs
  (pdf format, 17KB)
• A Registered Pipe? (From PIPE MARKET INSIDER, Volume 1 Issue 3, August 2002. Reprinted with permission from the Wall Street Reporter.  © 2002 Wall Street Reporter Magazine, Inc.  All rights reserved. pdf format, 497 KB)
• Frequently Asked Questions About PIPEs
• Frequently Asked Questions About Registered Directs
• The Law: Legal and Regulatory Framework
  (Reprinted by permission of Bloomberg press; pdf format, 1MB)

See also Recent Attorney Articles for additional articles.