Lately, it seems that everywhere I go, people are talking about PIPEs (that doesn't happen to you? You need to get out more!) I was getting ready to post something about those private investments in public equity until I found a post on the Harvard Corporate Governance Blog that covers all the ground I was thinking of covering and then some.
For a more detailed discussion of PIPE terms, have a look at this Stroock Stroock and Levan memo from 2002.
The agreements mentioned in the HCGB post can be found:
Goldman Sachs / Berkshire Hathaway Securities Purchase Agreement, exhibit 10.1 to 10-Q filed by GS on 10/8/08
General Electric / Berkshire Hathaway Securities Purchase Agreement, exhibit 10(a) to an 8-K filed by GE on 10/20/08
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