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The PIPEs Conference 2025

The PIPEs Conference 2025 was a resounding success! For over 20 years, DealFlow has led the charge in private investments in public equity, and this year’s event continued that tradition with outstanding results. Held at The Hard Rock Hotel & Casino in Hollywood, Florida, the conference served as a hub for professionals across the PIPE market to network, share insights, and explore new deal-making opportunities.

Attendees had the chance to delve into the latest market trends, regulatory updates, and innovative transaction structures, all while engaging with industry leaders and experts. A big thank you to everyone who attended and made this year’s conference such a success. Conference video recordings will be available soon.

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November 12, 2025

6:00PM - 8:30PM

Welcome Party

November 13, 2025

9:00AM – 9:20AM

State of the PIPEs Market: Trends & Outlook

  • Market performance: Volume, deal sizes, and sector activity
  • Economic drivers – interest rates, inflation, and macroeconomic impact
  • Sector breakdown – where PIPEs are thriving and where they’re struggling
  • The role of PIPEs in small, micro, and nano-cap financing

speaker-1

Mitch Nussbaum

Co-Chair
Loeb & Loeb

9:25AM – 10:10AM

PIPEs as a Strategic Capital Raising Tool for Public Companies

  • When should a public company pursue a PIPE over other financing options?
  • Thoughts from CFOs who have successfully raised capital through PIPEs
  • How issuers make their offerings attractive to investors
  • Balancing dilution concerns with long-term growth objectives

speaker-1

Richard Friedman

Partner
Sheppard, Mullin, Richter & Hampton LLP

speaker-2

Francisco Gonzalez

CFO
Sky Harbor Group Corp.

speaker-3

Eric Lussier

Principal
Next Level Partners

speaker-4

Jason Sardo

Senior Managing Director, Capital Markets
Maxim Group

10:15AM - 10:35AM

Status of PIPEs in DeSPAC Transactions

speaker-1

Doug Ellenoff

Partner
Ellenoff Grossman & Schole, LLP

10:40AM – 11:25AM

Bitcoin/Crypto PIPEs Highlights & Red Lights

Highlights

  • Institutional Adoption Accelerates
  • Spot Bitcoin ETFs approved in major markets
  • Traditional finance (BlackRock, Fidelity, etc.) entering the space
  • Custody, compliance, and on-ramps maturing
  • Regulatory clarity slowly improving

Red Lights (Risks & Concerns)

  • SEC enforcement-first approach continues to cloud project viability
  • Ambiguity around which tokens qualify as securities
  • Market Manipulation & Liquidity Issues
  • Short-term volatility discourages traditional capital allocators

speaker-1

Mark Wood

Co-Head of Katten's National Capital Markets
Katten Muchin Rosenman LLP

speaker-2

Joe Tonnos

Managing Director, Investment Banking
Roth Capital Partners

speaker-3

Christina Zaroulis Milnor

Partner
Mincey Bell Milnor/Cranfill Sumner

speaker-4

James Clare

Partner
Bennett Jones LLP

11:30AM - 12:00PM

Networking Break

12:00PM - 12:45PM

How Investment Funds Evaluate Deals

  • Hedge funds vs. family offices: Key differences
  • Risk-return considerations: Liquidity, control provisions, and exit strategies
  • What investors look for in PIPE deals beyond the discount
  • Other desirable deal criteria

speaker-1

Sanjeev Srivastava

Founder and Managing Partner
BLF Advisors

speaker-2

Osman Ahmed

Managing Partner
New Circle Capital

speaker-3

Marc Van Tricht

Head of Capital Markets
EarlyBirdCapital, Inc.

speaker-4

Espen Robak

President
Pluris Valuation Advisors

12:45PM - 1:45PM

Lunch

1:45PM - 2:30PM

The Regulatory & Legal Landscape: What You Need to Know to Navigate this Market

  • SEC updates and new compliance considerations
  • Corporate governance: Shareholder rights and voting requirements
  • Avoiding litigation: Lessons from recent enforcement actions
  • The impact of new disclosure rules on issuers

speaker-1

Matthew Beville

Partner
WilmerHale

speaker-2

Ele Klein

Partner
McDermott Will & Schulte

speaker-3

Greg Sichenzia

Partner
Sichenzia Ross Ference Carmel LLP

speaker-4

Perrie Weiner

Partner in Charge, Los Angeles • Chair, North America Securities Litigation Group
Baker McKenzie

speaker-5

Julie Plyler

Special Counsel
Covington Burling

2:35PM - 3:20PM

Structuring PIPE Transactions

  • Traditional vs. bespoke PIPE structures (convertible debt, preferred equity, warrants).
  • Key investor protections: anti-dilution, down-round rights, covenants.
  • Case studies of recent successful & problematic deals.

speaker-1

Caitlyn Van Valin

Executive Vice President
Odyssey Trust Company

speaker-2

Elliot Berman

Founder & Managing Director
Berman Audit & Advisory

speaker-3

Morris Zarif

Managing Partner
Zarif Law Group

speaker-4

Stephen Faucetta

Managing Director
Spartan Capital Securities

3:20PM - 3:50PM

Networking Break

3:50PM - 4:35PM

Strategies to Engage Family Offices, Mutual Funds and Cross‑Over Investors

  • Longer-term horizon; focus on legacy and bespoke structures
  • Insistence on strategic alignment, downside protection
  • Emphasis on relationships, less bureaucracy in decision-making
  • Focused on liquidity, valuation discipline, and compliance with mandates
  • Cleaner structures, quicker execution, public-market valuation comfort

speaker-1

Thomas Haug

Managing Director, Head of Alternative Assets
Force Family Office

speaker-2

Dean Rubino

CIO, Founder, Managing Partner
Kelly Park Partners

speaker-3

Jon Najarian

Co-Founder
Rebellion Partners

4:40PM - 5:25PM

The Future of PIPE Transactions: What’s Next?

  • New innovations in PIPE structuring
  • Will PIPEs remain a go-to financing vehicle in an evolving market?
  • The role of AI and data analytics in PIPE deal sourcing
  • Final thoughts from industry leaders on where PIPEs are headed

speaker-1

Avraham Ben-Tzvi

Founder
ABZ Law

speaker-2

Mohit Bhansali

Co-Founder
EquiDeFi

speaker-3

Todd Coffin

Senior Managing Director, Head of Structured Finance
TerraNova Capital

speaker-4

Gaurav Verma

Co-Head of Investment Banking
D. Boral Capital

5:30PM

Cocktail Reception

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DealFlow Events is proud to be celebrating its 21st anniversary. We thank our conference attendees and corporate sponsors for this achievement, and we look forward to seeing you at a DealFlow Event in 2025.

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