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1.16.26
Wilson Sonsini Advises Battle Road Digital on Acquisition by Onebrief
On January 13, 2026, Onebrief, the operating system for modern command, announced that it has acquired Battle Road Digital, a leading defense innovation company applying best-in-class gaming technology to defense and national security challenges. Wilson Sonsini Goodrich & Rosati advised Battle Road Digital on the transaction.
Client Highlights
10.21.25
Wilson Sonsini Advises Armada Acquisition Corp. II on $1 Billion Business Combination with Evernorth Holdings
On October 20, 2025, Armada Acquisition Corp II (Armada II), a publicly traded special purpose acquisition company, and Evernorth Holdings Inc. (Evernorth), a newly formed Nevada corporation focused on enabling institutional-scale adoption of XRP, announced that they have entered into a definitive business combination agreement through which Evernorth will become a publicly listed company. The transaction is expected to raise more than $1 billion in gross proceeds, establishing Evernorth as the largest public XRP-treasury company and a first-of-its-kind institutional vehicle built to accelerate XRP adoption. Investors include SBI, Ripple, Rippleworks, and leading digital-asset and fintech investors such as Pantera Capital, Kraken, and GSR, with participation from Ripple co-founder Chris Larsen. Upon closing, the combined company will operate under the Evernorth name and is expected to trade on Nasdaq under the ticker symbol “XRPN,” subject to applicable listing requirements and other customary closing conditions.
Client Highlights
1.14.25
Wilson Sonsini Advises Qventus on $105 Million Series D
On January 13, 2025, Qventus, a leading provider of AI-based care automation software for health systems, announced the successful completion of a $105 million Series D investment led by KKR, with additional participation from Bessemer Venture Partners and new strategic investors, Northwestern Medicine, HonorHealth, and Allina Health. Wilson Sonsini Goodrich & Rosati advised Qventus on the transaction.
Client Highlights
8.09.24
Wilson Sonsini Advises Recursion on Definitive Agreement with Exscientia
On August 8, 2024, Recursion and Exscientia announced the companies have entered into a definitive agreement, combining Recursion, a leading clinical stage technology-enabled biotech company decoding biology to industrialize drug discovery, with Exscientia, a technology-driven clinical stage drug design and development company, committed to creating more effective medicines for patients, faster. Wilson Sonsini Goodrich & Rosati advised Recursion on the transaction.
Alerts
1.17.23
A Much-Needed Makeover: Congress Signs Updates to Cosmetic Regulations
The Modernization of Cosmetics Regulation Act of 2022 (MoCRA), signed into law on December 29, 2022, as part of the year-end Consolidated Appropriations Act, 2023, added significant new requirements for manufacturers, packers, and distributers of cosmetic products (“responsible persons” under the Act) to Chapter VI of the Federal Food, Drug, and Cosmetic Act (FDCA). MoCRA, which was years in the making, marks the first significant U.S. cosmetics regulation reform since the FDCA was first enacted in 1938 and the Fair Packaging and Labeling Act in 1966. A majority of the new MoCRA requirements are set to take effect one year from enactment on December 29, 2023, with the exception of a few requirements that will take effect two to three years from enactment.
Client Highlights
6.30.21
Wilson Sonsini Advises Zipline on $250 Million Financing
On June 30, 2021, Zipline, the global leader in instant logistics, announced $250 million in new funding, bringing the company’s valuation to $2.75 billion. New investors Fidelity, Intercorp, Emerging Capital Partners, and Reinvent Capital participated in the round, along with existing investors including Baillie Gifford, Temasek, and Katalyst Ventures. Wilson Sonsini Goodrich & Rosati advised Zipline on the financing.
Zipline designs, manufactures, and operates the world’s largest automated on-demand delivery service. The new financing will enable the company to continue advancing its integrated service, including its autonomy platform, aircraft, fulfillment systems, and operations. The funding will also fuel continued expansion into new industries and geographies, transforming systems like healthcare and commerce with instant logistics.
The Wilson Sonsini team that advised Zipline on the financing includes:
Zipline designs, manufactures, and operates the world’s largest automated on-demand delivery service. The new financing will enable the company to continue advancing its integrated service, including its autonomy platform, aircraft, fulfillment systems, and operations. The funding will also fuel continued expansion into new industries and geographies, transforming systems like healthcare and commerce with instant logistics.
The Wilson Sonsini team that advised Zipline on the financing includes:
Client Highlights
5.03.21
Wilson Sonsini Advises Recursion on $501 Million IPO
On April 20, 2021, Recursion Pharmaceuticals, Inc., of Salt Lake City announced the closing of its initial public offering of 27,878,787 shares of its Class A common stock, which includes the exercise in full of the underwriters' option to purchase 3,636,363 additional shares of its Class A common stock, at a price to the public at $18.00 per share, a price at the top end of its expected pricing range. Including the option exercise, the gross proceeds from the offering were $501.8 million, before deducting underwriting discounts and commissions and other offering expenses payable by Recursion. All of the shares were offered by Recursion. The shares began trading on the Nasdaq Global Select Market on April 16, 2021, under the symbol "RXRX."
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
9.14.20
Wilson Sonsini Advises Recursion in $239 Million Series D Financing and Digital Drug Discovery Collaboration with Bayer
On September 9, 2020, Bayer, a global life sciences, healthcare, and nutrition company, and Utah-based Recursion Pharmaceuticals, Inc., a digital biology company industrializing drug discovery, entered into a strategic collaboration. Under the collaboration, Recursion’s purpose-built artificial intelligence-guided drug discovery platform and Bayer’s small molecule compound library and deep scientific expertise will be leveraged to discover and develop new treatments for fibrotic diseases. In addition, Leaps by Bayer, the impact investment arm of Bayer AG, is leading Recursion’s $239 million Series D financing with an investment of $50 million. Wilson Sonsini Goodrich & Rosati represented Recursion in both transactions.
Client Highlights
6.13.19
REVOLVE Closes Initial Public Offering
On June 11, 2019, Revolve Group, the next-generation fashion retailer for millennial consumers, announced the closing of its initial public offering of 13,529,411 shares of its Class A common stock, which includes the full exercise of the underwriters' option to purchase 1,764,705 additional shares, at a price to the public of $18.00 per share.
Client Highlights
5.20.19
Zipline Worth Over $1 Billion After New Financing
On May 17, 2019, Zipline, the world's first and only national-scale drone delivery service, announced that it has raised $190 million in new financing, with participation from The Rise Fund and previous investors Baillie Gifford, GV, Katalyst Ventures, Temasek, Bright Success Capital, Goldman Sachs, Oakhouse Partners, Toyota Tsusho Corp, and the Design to Improve Life Fund.