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7.21.21
Wilson Sonsini Advises PacBio on Omniome Acquisition, Private Placement and Intended Collaboration Expansion with Invitae
On July 20, 2021, Pacific Biosciences of California (PacBio), a leading provider of high-quality, long-read sequencing platforms, announced that it has signed a definitive merger agreement to acquire Omniome, a San Diego-based company developing a highly differentiated, proprietary short-read sequencing platform capable of delivering high accuracy. Upon closing of the acquisition, PacBio will be uniquely positioned as the only company with both highly accurate long-read and short-read sequencing platforms. The company also announced two other transactions: a private placement for aggregate proceeds of approximately $300 million in connection with the proposed acquisition, and an intent to expand a multi-year collaboration with Invitae Corporation to develop a production-scale high-throughput HiFi sequencing platform to include the sequencing technology developed by Omniome.
Client Highlights
2.17.21
Wilson Sonsini Advises Pacific Biosciences on $900 Million Investment from SoftBank
On February 10, 2021, Pacific Biosciences, a leading provider of high-quality, long-read sequencing platforms, announced that SB Management, a subsidiary of Softbank Group Corp., will make an investment of $900 million in convertible senior notes to support the company’s future growth initiatives.
Client Highlights
1.14.21
Wilson Sonsini Represents Pacific Biosciences in Collaboration Agreement with Invitae
On January 13, 2021, Pacific Biosciences of California, Inc., a leading provider of high-quality, long-read sequencing platforms, announced a multi-year collaboration with Invitae Corporation, a leading medical genetics company, to begin development of a production-scale high-throughput sequencing platform leveraging the power of PacBio’s highly accurate HiFi sequencing to expand Invitae’s whole genome testing capabilities. Through the collaboration, both companies will commit significant resources to support development of a production-scale sequencing platform designed with the capacity to process clinical whole genomes at scale. Those resources are expected to include talent, technology, and collaborative oversight, and Invitae will also invest capital to support development throughout the multi-year effort.
Client Highlights
9.22.20
Wilson Sonsini Represents Athira Pharma, Inc. in its Initial Public Offering
On September 17, 2020, Athira Pharma, Inc., a clinical-stage biopharmaceutical company focused on developing small molecules to restore neuronal health and stop neurodegeneration, priced its initial public offering of 12 million shares of its common stock at $17.00 per share. All shares were offered by Athira. The gross proceeds are expected to be $204 million, before deducting underwriting discounts and commissions and estimated offering expenses. Wilson Sonsini represented Athira in connection with the offering.
Client Highlights
10.24.19
WeWork Receives Funding from SoftBank Group
On October 22, 2019, The We Company (“WeWork”), a commercial real estate company, and SoftBank Group Corp., a prominent investor in technology companies, announced an agreement under which SoftBank will provide significant funding to WeWork.
Client Highlights
11.01.18
Pacific Biosciences to Be Acquired by Illumina for $1.2 Billion
On November 1, 2018, Illumina, a provider of sequencing and array-based solutions for genetic analysis, and Pacific Biosciences, a leader in long-read sequencing and provider of high-quality genomes to advance scientific discovery, announced that they have signed an agreement under which Illumina will acquire Pacific Biosciences at a price of $8.00 per Pacific Biosciences share in an all-cash transaction valued at approximately $1.2 billion on a fully diluted basis. Wilson Sonsini Goodrich & Rosati is representing Pacific Biosciences in the transaction.
Client Highlights
7.28.17
Emerson Collective to Acquire Majority Ownership of The Atlantic
On July 28, 2017, Atlantic Media chairman David G. Bradley announced that Emerson Collective, an organization founded and led by Laurene Powell Jobs, has agreed to acquire majority ownership of magazine and multi-platform publisher The Atlantic. The acquisition includes its flagship magazine, digital properties, live events business, and consulting services. Emerson Collective will partner with Bradley, who through Atlantic Media will hold a minority stake and continue to run The Atlantic for at least the next three to five years. Terms of the deal were not disclosed. Wilson Sonsini Goodrich & Rosati is representing Emerson Collective in the transaction.