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Survey Reveals Cautious Optimism in PIPE Market as Investors Eye Technology, Healthcare, and Cleantech in 2026
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Survey Reveals Cautious Optimism in PIPE Market as Investors Eye Technology, Healthcare, and Cleantech in 2026
NEW YORK, NY / ACCESS Newswire / December 8, 2025 / DealFlow Events today released the results of its PIPE Market Trends & Sentiment Survey, conducted during the 2025 PIPEs Conference. The findings point to measured but growing optimism in the market, with a majority of respondents describing current PIPE conditions as at least "somewhat healthy" and expecting transaction activity to increase over the next year.
According to the survey, 92% of respondents view today's PIPE market as either very or somewhat healthy, while 75% expect PIPE activity to rise in the next 12 months - including 25% who anticipate a significant increase.
"These results reflect what we heard repeatedly at this year's conference: the market is not without its challenges, but confidence in deal activity is clearly building," said Steven Dresner, Founder of DealFlow Events.
Key Findings
Valuation gaps and market volatility remain the primary obstacles.
Respondents identified valuation gaps (67%) and stock price volatility/post-deal performance (67%) as the two greatest challenges facing today's PIPE transactions. Regulatory complexity and limited fundamental investor participation were also frequently cited.
Growth fundamentals and investor quality drive investment decisions.
When evaluating a PIPE, participants placed the highest importance on a company's growth prospects (67%) and quality of the investor group (58%), followed by transaction structure (50%), discount, and incentive features such as warrant coverage.
Deal structures have mostly stabilized.
Half of respondents said terms are "about the same" compared to last year, while the remainder were split on whether structures have become more investor-friendly or issuer-friendly.
Hybrid structures increasingly common.
Nearly 60% of respondents reported seeing somewhat more prevalent use of hybrid financing tools such as convertible PIPEs and structured equity.
Technology dominates investor interest.
When asked which sectors offer the most compelling PIPE opportunities, respondents overwhelmingly pointed to Technology/AI (92%), followed by Healthcare/Life Sciences (67%) and Energy/Cleantech (58%).
Advisors and investors expect to remain active.
More than two-thirds of respondents expect to participate in a PIPE transaction in the next 12 months - as investors, advisors, or issuers. None indicated plans to step away from the market.
PIPEs remain competitive with other financing options.
Half of survey participants view PIPEs as slightly or much more attractive than alternative structures such as ATMs, registered directs, or private credit. Another 42% view them as roughly equivalent.
Regulatory Outlook Mixed but Stable
Respondents described the current SEC and exchange environment as mostly supportive or neutral, though half expect potential future tightening around disclosures or resale processes. Many noted that issuers and investors are adapting to a more structured environment and factoring compliance considerations into transaction planning.
About the Survey
The PIPE Market Trends & Sentiment Survey was conducted during the 2025 PIPEs Conference, gathering insights from sector professionals including investors, bankers, advisors, and corporate executives. The survey aims to capture practitioner sentiment and identify key factors shaping today's PIPE market.
About DealFlow Events
DealFlow Events is a leading producer of independent investment conferences, including The PIPEs Conference, The SPAC Conference, The Private Credit Sourcing Conference, and the DealFlow Discovery Conference. Since 2003, DealFlow Events has been a trusted resource for education, networking, and deal-making across the capital markets landscape.
Media Contact:
Phillip LoFaso
[email protected]
(516) 876-8006
SOURCE: DealFlow Events
View the original press release on ACCESS Newswire
(W.Walker--TAG)
