NEW YORK, Oct. 15, 2015 /PRNewswire/ -- The PIPEs Report, a service of The Deal, that covers the small-cap equity financing market, has issued a quarterly report showing that the dollars invested in the small-cap equity financing market doubled during the third quarter of 2015. The volume of PIPE transactions in the third quarter rose slightly when compared to the same quarter last year.

'The third quarter saw the amount of capital tapped in the PIPE market more than double over the same quarter of last year to $21.33 billion,' said Paul Springer, senior writer for The PIPEs Report. 'Much of the increase came from a multibillion-dollar offering from Western Digital Corp. (WDC) and a handful of substantial PIPEs and ATM facilities from oil and gas companies preparing for eventualities like interest rate increases and more energy market volatility.'

Some highlights from the report include:

  • The dollars invested in PIPE transactions in third-quarter of 2015 more than doubled when compared to the same time last year. That is most likely due to a few large deals driving up the amount of capital raised.
  • The volume of PIPE transactions in the third quarter rose 3.1% compared to the same time last year, according to PrivateRaise, a service of The Deal, tracking PIPEs that raise at least $1 million. 
  • Healthcare was the most active sector, accounting for 38% of the quarter's total transactions, while the technology and industrials sectors made up 19% and 9% of the total, respectively.
  • The number of confidentially marketed public offerings increased 63% this quarter, to 26 from 16 when compared to the same quarter last year.
  • Sabby Management LLC was the top-ranked investor in the third quarter by number of investments, with 6 deals. IntraCoastal Capital LLC and Anson Capital LP, both ranked second, invested in five offerings each. Hillair Capital Management LLC and LH Financial Services Corp. both ranked third for the third quarter, with four deals each.

The full report is available online. For more information on The PIPEs Report and PrivateRaise, visit www.thedeal.com/knowledge/pipesreport and www.privateraise.com.  

About The Deal

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Contact: Aedin Moloney, 212.321.5541, Aedin.Moloney at thestreet.com

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