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2.08.22
Wilson Sonsini Advises Enable Injections on $215 Million Series C
On January 27, 2022, Enable Injections, Inc., a company developing and manufacturing the enFuse platform of investigational wearable drug delivery systems, announced $215 million in Series C financing. Magnetar Capital led the financing along with new institutional investments from GCM Grosvenor, Squarepoint Capital, Woody Creek Capital Partners, and other investors. Enable received significant continued support from existing investors including Cincinnati Children's Hospital Medical Center, CincyTech, Cintrifuse, and Ohio Innovation Fund. Wilson Sonsini Goodrich & Rosati advised Enable Injections on the transaction.
Client Highlights
1.27.22
Wilson Sonsini Advises Sonder on Close of Business Combination with Gores Metropoulos II
On January 18, 2022, Sonder Holdings Inc., a leading next-generation hospitality company that is redefining the guest experience through technology and design, announced that it completed its previously announced business combination with Gores Metropoulos II, Inc., a special purpose acquisition company sponsored by affiliates of The Gores Group, LLC, and Metropoulos & Co. The business combination was approved at a special meeting of Gores Metropoulos II stockholders on January 14, 2022. The combined company, operating as Sonder Holdings Inc., commenced trading its common stock and publicly traded warrants on the Nasdaq Global Select Market on January 19, 2022, under the ticker symbols “SOND” and “SONDW,” respectively.
Client Highlights
7.02.21
Wilson Sonsini Advises Turntide on $225 Million Financing
On June 30, 2021, Turntide Technologies, the company responsible for the Smart Motor SystemTM, announced the completion of $225 million in convertible note financing, with investments from Canada Pension Plan Investment Board (CPP Investments), Monashee Investment Management LLC, and JLL Spark, the strategic investment arm of commercial real estate services firm JLL. Additional investors include Breakthrough Energy Ventures, Captain Planet LP, and Suvretta Capital Management LLC. This investment brings Turntide's total funding to $400 million. Wilson Sonsini Goodrich & Rosati represented Turntide in the transaction.
Client Highlights
4.30.21
Firm Advises Sonder on Business Combination with Gores Metropoulos II SPAC
On April 30, 2021, Sonder Holdings, a leading next-generation hospitality company that is redefining the guest experience, and Gores Metropoulos II, Inc., a special purpose acquisition company (SPAC) sponsored by an affiliate of The Gores Group, LLC and by an affiliate of Dean Metropoulos of Metropoulos & Co., announced that they have entered into a definitive agreement to combine. The technology-driven hospitality business is expected to have a pro forma enterprise value of $2.2 billion and over $700 million of net cash at closing. Wilson Sonsini Goodrich & Rosati is representing Sonder in the transaction.
The business combination includes $650 million of cash proceeds from Gores Metropoulos II before expenses, including a fully committed PIPE of $200 million from top-tier institutional investors, including Fidelity Management & Research Company LLC, funds and accounts managed by BlackRock, Atreides Management, LP, entities affiliated with Moore Capital Management, Principal Global Investors, LLC, and Senator Investment Group. The proceeds from the business combination, which has been unanimously approved by the boards of directors of GM II and Sonder and is expected to close in the second half of 2021, will be used to continue global growth and expansion and increase investments in technology to drive an elevated guest experience.
The business combination includes $650 million of cash proceeds from Gores Metropoulos II before expenses, including a fully committed PIPE of $200 million from top-tier institutional investors, including Fidelity Management & Research Company LLC, funds and accounts managed by BlackRock, Atreides Management, LP, entities affiliated with Moore Capital Management, Principal Global Investors, LLC, and Senator Investment Group. The proceeds from the business combination, which has been unanimously approved by the boards of directors of GM II and Sonder and is expected to close in the second half of 2021, will be used to continue global growth and expansion and increase investments in technology to drive an elevated guest experience.
Client Highlights
2.19.19
Ushr to Be Acquired by Dynamic Map Platform
On February 13, 2019, Ushr and Dynamic Map Platform, providers of accurate, high-quality, and high-definition road maps in North America and Japan, respectively, announced the signing of a definitive agreement under which Dynamic Map Platform has agreed to acquire Ushr.