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TSMC Posts Strong Q1 2025 Revenue, Riding AI Chip Demand Wave 
China's AI Stocks Surge as Zhipu and MiniMax Hit Record Highs 
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New York and San Diego, April 11, 2016 -- http://www.globenewswire.com/NewsRoom/AttachmentNg/710de006-c907-485b-bb3e-544ef507b15d
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PlacementTracker is pleased to announce its new search feature allowing clients to easily find the Drawdowns and Total Shares Sold for At the Market Offering (ATM) offerings. Clients will be able to search through Drawdown ranges dating back to 2012. In addition to new functionality, we would also like to introduce our new ATM League Table rankings (found below).
A review of Q1 2016 ATMs shows a total of 40 new transactions, roughly on par with Q1 2015. There was a marked decrease of over 28% y-o-y in the Commitment Amount with approximately $7,168m committed. So far this year, two ATM facilities had shares sold with total gross proceeds at $116.383m. The most active sectors for this quarter were Healthcare (18 deals – $673.82m), Financials (10 deals – $2,810.85m), and Energy (5 deals – $1,310m).
Q1 2016 - Largest ATM Deals by Sector:
| Company Name | Total Commitment | Sector | ||
| Carnival plc | $ | 1,353,877,000 | Consumer- Cyclical | |
| Essex Property Trust, Inc. | $ | 1,109,650,000 | Financial | |
| Buckeye Partners, L.P. | $ | 500,000,000 | Energy | |
| Spectra Energy Corporation | $ | 500,000,000 | Utilities | |
| Corrections Corporation of America | $ | 200,000,000 | Non-Cyclical (Non-Healthcare) | |
| Amicus Therapeutics, Inc. | $ | 100,000,000 | Healthcare | |
| Omeros Corporation | $ | 100,000,000 | Healthcare | |
| Hecla Mining Company | $ | 75,000,000 | Basic Materials | |
| ExOne Company (The) | $ | 50,000,000 | Technology | |
*other sectors had no ATMs
During Q1 of 2015, we saw 41 transactions and a total Commitment Amount of $9,997.6m. Of 41 ATM facilities, 27 had shares sold with total gross proceeds standing at approximately $1,513m. During this quarter, the most active sectors for ATM Commitment Amounts were Financials (16 deals – $7,726m), Healthcare (11 deals – $401.4m), and Energy (8 deals – $3,400m).
ATM Commitment Amount Comparisons:
| Q1 2015 ($ m) | Q1 2016 ($ m) | % Change | |||
| Healthcare | 401.4 | 673.82 | 67.87 | % | |
| Financials | 4,726.20 | 2,810.85 | -40.53 | % | |
| Energy | 3,400.00 | 1,310.00 | -61.47 | % | |
Q1 2016 Healthcare ATMs have surged in volume and Commitment Amount by 55% and 68%, respectively, when compared to Q1 2015. Considering the general decline of prices in the Healthcare Sector Biotech, companies may be using ATMs to ensure financing over the coming year without having to issue securities. ATMs allow companies to access capital per their needs and issuers may seek to take advantage of more favorable pricing in the future.
Looking back at the designated period for ATM issuances, Energy ATMs have fallen in terms of total Commitment Amount: by over 61% from $3.4bn to $1.310bn. This can be in part attributed to the volatility in the space and low oil prices. Namely crude prices (WTI Cushing Oil Spot Prices) traded within a range of $40.20 to $26.21 in Q1 of 16’ compared to a high of $53.53 to a low of $43.46 in Q1 of 15’. The drop in energy new issuance was not specific to only the ATM market as High Yield bond issuances also cratered over the quarter. According to our sister company IGM (Informa Global Markets), high yield energy issuance in Q1 of 15’ produced $6.775bn whereas Q1 of 16’ priced 0 energy trades for $0. In addition, the slowdown in energy issuance also hit the IG bond market with new issues slowing from $33.425bn in Q1 16' to $30.40bn in Q1 15', a 9.95% change.
The Q1 2016 ATM Financing League Table
By Commitment Amount:
| Placement Agent Name | Transaction Count | Total Commitment Amount | ||
| J.P. Morgan Chase & Co. | 6 | $ | 2,754,209,130 | |
| Morgan Stanley | 7 | $ | 2,500,440,000 | |
| Citigroup Global Markets, Inc. | 4 | $ | 2,460,090,000 | |
| Jefferies & Company, Inc. | 5 | $ | 2,359,650,000 | |
| Barclays Capital, Inc | 4 | $ | 2,195,650,000 | |
| Mitsubishi UFJ Securities (USA), Inc. | 4 | $ | 2,059,650,000 | |
| Bank of America Merrill Lynch | 7 | $ | 1,844,999,130 | |
| Wells Fargo Securities, LLC | 5 | $ | 1,800,440,000 | |
| RBC Capital Markets, Inc. | 4 | $ | 1,800,440,000 | |
| BMO Capital Markets Corp. | 4 | $ | 1,770,650,000 | |
| BNP Paribas Securities Corporation | 2 | $ | 1,609,650,000 | |
| UBS Securities LLC | 2 | $ | 1,609,650,000 | |
| Cantor Fitzgerald & Company | 7 | $ | 1,594,210,000 | |
| Capital One Securities | 2 | $ | 1,359,650,000 | |
| BB&T Capital Markets | 3 | $ | 1,036,000,000 | |
| Deutsche Bank Securities, Inc. | 2 | $ | 1,000,000,000 | |
| SMBC Nikko Securities America, Inc. | 2 | $ | 1,000,000,000 | |
| Piper Jaffray & Co. | 2 | $ | 800,440,000 | |
| Robert W. Baird & Co. | 2 | $ | 800,440,000 | |
| Credit Suisse Securities (USA) LLC | 3 | $ | 744,559,130 | |
| Goldman, Sachs & co. | 2 | $ | 700,000,000 | |
| SunTrust Robinson Humphrey, Inc | 2 | $ | 700,000,000 | |
| FBR Capital Markets | 6 | $ | 310,000,000 | |
| MLV & Co. LLC | 6 | $ | 310,000,000 | |
| Cowen and Company, LLC | 5 | $ | 295,000,000 | |
Co-agented transactions award full transaction credit to all agents participating (regardless of status of lead agent or co-agent). Data is for closed and definitive agreement transactions reported as of 04/06/16.
The Q1 2016 ATM Financing League Table
By Deal Count:
| Placement Agent Name | Transaction Count | Total Commitment Amount | ||
| Morgan Stanley | 7 | $ | 2,500,440,000 | |
| Bank of America Merrill Lynch | 7 | $ | 1,844,999,130 | |
| Cantor Fitzgerald & Company | 7 | $ | 1,594,210,000 | |
| J.P. Morgan Chase & Co. | 6 | $ | 2,754,209,130 | |
| FBR Capital Markets | 6 | $ | 310,000,000 | |
| MLV & Co. LLC | 6 | $ | 310,000,000 | |
| Jefferies & Company, Inc. | 5 | $ | 2,359,650,000 | |
| Wells Fargo Securities, LLC | 5 | $ | 1,800,440,000 | |
| Cowen and Company, LLC | 5 | $ | 295,000,000 | |
| Citigroup Global Markets, Inc. | 4 | $ | 2,460,090,000 | |
| Barclays Capital, Inc | 4 | $ | 2,195,650,000 | |
| Mitsubishi UFJ Securities (USA), Inc. | 4 | $ | 2,059,650,000 | |
| RBC Capital Markets, Inc. | 4 | $ | 1,800,440,000 | |
| BMO Capital Markets Corp. | 4 | $ | 1,770,650,000 | |
| BB&T Capital Markets | 3 | $ | 1,036,000,000 | |
| Credit Suisse Securities (USA) LLC | 3 | $ | 744,559,130 | |
| BNP Paribas Securities Corporation | 2 | $ | 1,609,650,000 | |
| UBS Securities LLC | 2 | $ | 1,609,650,000 | |
| Capital One Securities | 2 | $ | 1,359,650,000 | |
| Deutsche Bank Securities, Inc. | 2 | $ | 1,000,000,000 | |
| SMBC Nikko Securities America, Inc. | 2 | $ | 1,000,000,000 | |
| Piper Jaffray & Co. | 2 | $ | 800,440,000 | |
| Robert W. Baird & Co. | 2 | $ | 800,440,000 | |
| Goldman, Sachs & co. | 2 | $ | 700,000,000 | |
| SunTrust Robinson Humphrey, Inc. | 2 | $ | 700,000,000 | |
Co-agented transactions award full transaction credit to all agents participating (regardless of status of lead agent or co-agent). Data is for closed and definitive agreement transactions reported as of 04/06/16.
About PlacementTracker
PlacementTracker, part of the Business Intelligence Division of Informa PLC, is well recognized as the leading provider of research, data, and analytics covering the PIPE market and other capital raising methods. PlacementTracker's dynamically updated League Tables are available online at: http://www.placementtracker.com/leaguetables.cfm.
About Informa PLC
Informa is a leading business intelligence, academic publishing, knowledge and events business, creating unique content and connectivity for customers all over the world. It is listed on the London Stock Exchange and is a member of the FTSE 100.
For more information, please visit the Financial Intelligence website.
Company Contact:
Greg Hill
212-907-5884
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