Market Trends 2020/21: PIPEs
This practice note explores trends in the private investments in public equity (PIPE) market in 2020 and the market outlook for 2021. The market for PIPEs in the United States saw an increase in both the number of deals and total dollar volume of deals that closed in 2020 compared to 2019. According to The PIPEs Report published by The Deal, there were 1,635 PIPE transactions with a total dollar volume of $101.5 billion in 2020, as compared to 1,027 PIPE transactions with total dollar volume of $48.3 billion in 2019. This represents a 59% increase in number of deals and a 110% increase in total dollar volume of deals from 2019.