Investment Banking Transactions

	Date	Client	Type	Sub-Type	Amt.	Logo	Sector/Sub-Sector	Description	Tombstone Description	PSC Role
Published	11/17/2025	Dickinson Financial Corporation	Debt Capital Markets	Subordinated Notes	$65.0 Million	Image	Financial Services, Depositories	Piper Sandler served as sole placement agent for Dickinson Financial Corporation on its subordinated notes offering	Subordinated Notes	Sole Placement Agent
Published	11/17/2025	Shore Bancshares	Debt Capital Markets	Subordinated Notes	$60.0 Million	Image	Financial Services, Depositories	Piper Sandler served as lead placement agent for Shore Bancshares, Inc. on its subordinated notes offering	Subordinated Notes	Lead Placement Agent
Published	11/13/2025	Fennec Pharmaceuticals	Equity Capital Markets	CMFO	$40.2 Million	Image	Healthcare, Biopharma	Piper Sandler served as bookrunner for Fennec Pharmaceuticals on its CMFO	Confidentially Marketed Follow-On Offering	Lead Bookrunner
Published	11/12/2025	Univest Financial Corporation	Debt Capital Markets	Subordinated Notes	$50.0 Million	Image	Financial Services, Depositories	Piper Sandler served as sole placement agent for Univest Financial Corporation on its subordinated notes offering	Subordinated Notes	Sole Placement Agent
Published	11/12/2025	Nektar Therapeutics	Financing, Equity Capital Markets	At the Market Offering	$110.0 Million	Image	Healthcare, Biopharma	Piper Sandler served as lead sales agent for Nektar Therapeutics on an ATM offering	ATM Program Common Stock	Lead Sales Agent
Published	11/12/2025	Inventiva Pharma	Equity Capital Markets	CMFO	$172.5 Million	Image	Healthcare, Biopharma	Piper Sandler served as bookrunner for Inventiva Pharma on its CMFO	Confidentially Marketed Follow-On Offering	Active Bookrunner
Published	11/12/2025	MultiPlan, Inc.	Equity Capital Markets	CMFO		Image	Healthcare	Piper Sandler served as bookrunner for MultiPlan, Inc. on its CMFO	Confidentially Marketed Follow-On Offering	Passive Bookrunner
Published	11/12/2025	Creative Media & Community Trust	Mergers & Acquisitions	Sell-Side	$44.0 Million	Image Image	Financial Services, Real Estate	Piper Sandler served as financial advisor for Creative Media & Community Trust on the announced sale of its lending division to an affiliate of Peachtree Group	Creative Media & Community Trust has agreed to sell its lending division to an affiliate of Peachtree Group	Financial Advisor
Published	11/11/2025	Inovio Pharmaceuticals	Equity Capital Markets	CMFO	$28.8 Million	Image	Healthcare, Biopharma	Piper Sandler served as manager for Inovio Pharmaceuticals on its CMFO	Confidentially Marketed Follow-On Offering	Sole Manager
Published	11/10/2025	BFG Supply Co., LLC	Restructuring	Special Situations Financing	$300.0 Million	Image	Consumer	Piper Sandler served as advisor to the company on its $300M recapitalization and new money transaction	Recapitalization	Financial Advisor
Published	11/10/2025	Ranger Energy Services	Mergers & Acquisitions	Buy-Side	$90.5 Million	Image Image Image	Energy, Power & Infrastructure, Energy & Power Infrastructure, Energy & Power Services & Equipment	Piper Sandler served as buy-side advisor for Ranger Energy Services on its acquisition of American Well Services, a portfolio company of Argonaut Private Equity	Ranger Energy Services has acquired American Well Services, a portfolio company of Argonaut Private Equity	Financial Advisor
Published	11/07/2025	Obsidian Insurance Holdings	Debt Capital Markets	Senior Notes	$40.0 Million	Image	Financial Services, Insurance	Piper Sandler served as sole placement agent for Obsidian Insurance Holdings on its senior unsecured notes offering	Senior Unsecured Notes	Sole Placement Agent
Published	11/06/2025	Total Sand Solutions	Mergers & Acquisitions	Buy-Side		Image Image	Energy, Power & Infrastructure, Energy & Power Infrastructure, Energy & Power Services & Equipment	Piper Sandler served as buy-side advisor for Total Sand Solutions on its acquisition of Sand Revolution	Total Sand Solutions has acquired Sand Revolution	Financial Advisor
Published	11/05/2025	BillionToOne	Equity Capital Markets	IPO	$314.0 Million	Image	Healthcare, Life Sciences Tools & Diagnostics	Piper Sandler served as bookrunner for BillionToOne on its IPO	Initial Public Offering	Active Bookrunner
Published	11/04/2025	Hawk Line Construction	Mergers & Acquisitions	Sell-Side		Image Image	Energy, Power & Infrastructure, Energy & Power Services & Equipment	Piper Sandler served as sell-side advisor for Hawk Line Construction on its growth investment from Lime Rock New Energy	Hawk Line Construction has received a growth investment from Lime Rock New Energy	Financial Advisor
Published	11/04/2025	Amber Infrastructure Limited	Mergers & Acquisitions	Buy-Side	$2.4 Billion	Image Image Image	Energy, Power & Infrastructure, Energy & Power Infrastructure	Piper Sandler served as financial advisor for La Caisse and Amber Infrastructure Group on their investment in Sizewell C	La Caisee and Amber Infrastructure Group have invested in Sizewell C	Financial Advisor
Published	11/03/2025	Colony Bank	Financing, Equity Capital Markets	At the Market Offering	$40.0 Million	Image	Financial Services	Piper Sandler served as sole sales agent for Colony Bank on an ATM offering	ATM Program Common Stock	Sole Sales Agent
Published	11/03/2025	Nivel Parts & Manufacturing Co., LLC	Restructuring	Out-of-Court Debt Restructuring	$500.0 Million	Image	Services & Industrials, Automotive Aftermarket	Piper Sandler served as advisor to the company on its $500M recapitalization and new money transaction	Recapitalization	Financial Advisor
Published	10/31/2025	OrganOx	Mergers & Acquisitions	Sell-Side	$1.5 Billion	Image Image	Healthcare, Med-Tech	Piper Sandler served as sell-side advisor for OrganOx on its sale to Terumo	OrganOx has been acquired by Terumo	Financial Advisor
Published	10/31/2025	Tompkins Financial Corporation	Mergers & Acquisitions	Division Carve Out		Image Image Image	Financial Services, Depositories, Insurance	Piper Sandler served as financial advisor for Tompkins Financial Corporation on its sale of Tompkins Insurance Agencies, Inc. to Arthur J. Gallagher & Co.	Tompkins Financial has sold Tompkins Insurance Agencies to Arthur J. Gallagher & Co.	Financial Advisor