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4.10.26
Wilson Sonsini Advises SiFive on $400 Million Series G Financing
On April 9, 2026, SiFive, an industry leader in high-performance RISC-V processor IP, announced it has raised $400 million in an oversubscribed Series G financing to accelerate its high-performance data center roadmap. This equity funding round was led by Atreides Management with other investors including Apollo Global Management, NVIDIA, Point72 Turion, and T. Rowe Price Investment Management, Inc., alongside repeat investors Prosperity7 Ventures and Sutter Hill Ventures. The financing values the company at $3.65 billion and will accelerate SiFive’s RISC-V CPU and AI IP solutions for the data center. Wilson Sonsini Goodrich & Rosati advised SiFive on the transaction.
Client Highlights
2.02.26
Wilson Sonsini Advises ALX Oncology on Public Offering
On January 30, 2026, ALX Oncology Holdings Inc., a clinical-stage biotechnology company focusing on novel therapies designed to treat cancer and extend patients’ lives, announced the pricing of an underwritten offering of 76,979,112 shares of common stock and, in lieu of common stock to certain investors, pre-funded warrants to purchase 18,574,120 shares of common stock in the offering. The gross proceeds of the offering are expected to be approximately $150 million before deducting the underwriting discounts and commissions and other estimated offering expenses, and excluding the exercise of any pre-funded warrants. Wilson Sonsini Goodrich & Rosati advised ALX Oncology on the transaction.
Client Highlights
1.08.26
Firm Advises InduPro on Strategic Investment, Research Collaboration with Sanofi
On December 10, 2025, InduPro, Inc., a biotechnology company defining membrane protein spatial relationships to create novel therapeutics for the treatment of cancer and autoimmune diseases, announced a strategic equity investment and research collaboration with Sanofi. Wilson Sonsini Goodrich & Rosati advised InduPro on the transaction.
Client Highlights
1.08.26
Wilson Sonsini Advises InduPro on $950 Million Strategic Collaboration with Eli Lilly
On January 7, 2026, InduPro, Inc., a biotechnology company defining membrane protein spatial relationships to create novel therapeutics for the treatment of cancer and autoimmune diseases, announced a global strategic collaboration and licensing agreement, and equity investment, with Eli Lilly and Company to discover novel oncology treatments using InduPro’s proximity-guided platform. Under the terms of the agreement, InduPro and Eli Lilly will collaborate on up to three targets, for a total deal value of up to approximately $950 million. Wilson Sonsini Goodrich & Rosati advised InduPro on the transaction.
Client Highlights
12.12.25
Wilson Sonsini Advises Denali Therapeutics on $200 Million Public Offering
On December 10, 2025, Denali Therapeutics, a biopharmaceutical company focused on therapies for neurodegenerative and lysosomal storage diseases, announced the pricing of its underwritten public offering of 9,142,857 shares of its common stock at a price to the public of $17.50 per share and, in lieu of common stock to certain investors, pre-funded warrants to purchase 2,285,714 shares of common stock at a price of $17.49 per pre-funded warrant, which represents the per share public offering price of each share of common stock less the $0.01 per share exercise price for each pre-funded warrant. All of the shares and pre-funded warrants are to be sold by Denali Therapeutics. Denali Therapeutics expects to receive total gross proceeds of approximately $200 million before deducting underwriting discounts and commissions and other offering expenses and excluding any exercise of the underwriters’ option to purchase additional shares. Wilson Sonsini Goodrich & Rosati advised Denali Therapeutics on the transaction.
Client Highlights
9.17.25
Firm Advises Planet Labs on $460 Million Convertible Senior Notes Offering
On September 12, 2025, Planet Labs, PBC, completed an upsized offering of $460 million aggregate principal amount of convertible senior notes due 2030, in a private transaction. The offering amount included the exercise in full of the option that Planet Labs had granted to the initial purchasers to purchase up to an additional $60 million of notes. In connection with the offering, Planet Labs entered into privately negotiated capped call transactions with an affiliate of one of the initial purchasers and certain other financial institutions. Wilson Sonsini Goodrich & Rosati advised Planet Labs on the transaction.
Client Highlights
8.20.25
Wilson Sonsini Advises Upstart on $690 Million Convertible Senior Notes Offering
On August 14, 2025, Upstart Holdings, Inc. completed an upsized offering of $690 million aggregate principal amount of convertible senior notes due 2032 in a private transaction. The offering amount included the exercise in full of the option that Upstart had granted to the initial purchasers to purchase up to an additional $90 million of notes. In connection with the offering, Upstart entered into privately negotiated capped call transactions with certain of the initial purchasers or their respective affiliates and other financial institutions.
Client Highlights
7.21.25
Wilson Sonsini Advises Cloudflare on $2.0 Billion Convertible Senior Notes
On June 17, 2025, Cloudflare, Inc. issued $2.0 billion aggregate principal amount of 0% Convertible Senior Notes due 2030. The offering amount included the exercise in full of the option that Cloudflare had granted to the initial purchasers to purchase up to an additional $250 million of notes. In connection with the offering, Cloudflare entered into privately negotiated capped call transactions with certain of the initial purchasers or their respective affiliates and other financial institutions.
Client Highlights
7.09.25
Wilson Sonsini Advises Zscaler on $1.725 Billion Convertible Senior Notes Offering
On July 3, 2025, Zscaler, Inc. issued $1.725 billion aggregate principal amount of 0.00% convertible senior notes due 2028. The offering amount included the exercise in full of the option that Zscaler had granted to the initial purchasers to purchase up to an additional $225 million of notes. In connection with the offering, Zscaler entered into privately negotiated capped call transactions with one or more of the initial purchasers and/or their respective affiliates and/or other financial institutions.
Client Highlights
3.25.25
Wilson Sonsini Advises Microchip on Offering of $1.48 Billion of Depositary Shares
On March 25, 2025, Microchip Technology completed a mandatory convertible preferred stock offering of $1.48 billion of depositary shares, each representing a 1/20th interest in a share of 7.50% Series A Mandatory Convertible Preferred Stock, in an underwritten public offering. The offering amount included the exercise in full of the over-allotment option that Microchip had granted to the underwriters to purchase up to an additional $135 million of depositary shares. In connection with the offering, Microchip entered into privately negotiated capped call transactions with one or more of the underwriters and other financial institutions. Microchip is one of the first technology companies to use this mandatory convertible preferred stock structure with a capped call feature.
Client Highlights
12.10.24
Wilson Sonsini Advises Initial Purchasers in Rule 144A Offering of $1.4 Billion of BILL Convertible Senior Notes
On December 6, 2024, BILL Holdings announced the successful completion of an offering of $1.4 billion aggregate principal amount of 0% convertible senior notes due 2030 in a Rule 144A offering. The offering amount included the exercise in full of the option that BILL had granted to the initial purchasers to purchase up to an additional $150 million of notes.
Client Highlights
11.18.24
Wilson Sonsini Advises Upstart in Private Offering of $500 Million of Convertible Senior Notes
On November 15, 2024, Upstart Holdings, Inc. completed an offering of $500 million aggregate principal amount of 1.00% convertible senior notes due 2030 in a private transaction. The offering amount included the exercise in full of the option that Upstart had granted to the initial purchasers to purchase up to an additional $75 million of notes.