The PIPEs Report - December 18, 2007

The Securities and Exchange Commission published the final draft of changes to Rules 144 and 145 of the Securities Act of 1933 on Dec. 6. The rule changes, which deal partly with requirements for holders of restricted stock, have been under discussion since last spring at the SEC and were closely watched by the PIPE market. The changes should add liquidity to PIPE investments, while easing capital-raising and reducing legal, accounting and management costs for issuers. Full Story

SEC Frosts PIPE Market by Changing Form S-3 Proposal

The Securities and Exchange Commission took a decidedly Scrooge-like turn last week after showing signs of getting into the spirit of liberalizing small-company finance. Full Story

Financial Giants Resort to Small Cap Financing Method

Large-cap financial companies, after sustaining losses from the subprime mortgage crisis, have embraced the PIPE structure for massive financings in their time of need. Full Story

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