As per data from 1Lattice, as of August 2024, 17 PIPE deals have been closed with a total value of $2.73 billion. In 2023 and 2022, their value stood at $6.74 billion and $5.25 billion, respectively. "As of August 2024, capital deployment in PIPE transactions represented only 5% of total deal value, compared to 10% in 2023, reflecting a significant slowdown," says Devmalya Mukherjee, director-financial investors at 1Lattice. "This dip is driven by weaker macroeconomic conditions, marked by high interest rates, softened consumption, heightened geopolitical tensions, and a persistent buyer-seller valuation mismatch."

Read the full story here.