In a year of significant volatility, it is not surprising that there was increased reliance on PIPE (private investment in public equity) transactions. Traditionally, PIPE transactions have provided a useful capital-raising alternative when the public markets are inhospitable. During this past year, energy companies relied on PIPE transactions in order to recapitalize their companies and many of these transactions resulted in change of control. We summarize the PIPE activity for 2016 in our infographic.