Yini Liu

May 15, 2023 | onlinelibrary.wiley.com | Yini Liu |Juan Mao |Onur Bayar

1 INTRODUCTION Our study focuses on short selling activity ahead of private investments in public equity (PIPEs) when there are prior securities class action lawsuits. PIPEs have gained increasing importance in the U.S. as an equity or equity-linked financing venue by publicly traded firms. The market for private investments in public equity (PIPEs) has exceeded the traditional seasoned equity market in both transaction value and the number of deals.