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6.15.26
Law360 Article: “7 Key Questions About SEC’s Faster Tender Offer Path”
Wilson Sonsini attorneys Rob Ishii, Doug Schnell, Remi Korenblit, Tamara Brightwell, and Michael Anthony authored a recent Law360 article titled "7 Key Questions About SEC’s Faster Tender Offer Path." The piece examines the recent order issued by the SEC to shorten the minimum offering period on certain equity tender offers. The authors walk through seven key questions covering eligibility requirements, timeline implications, private company applicability, and strategic considerations—noting that while the shortened period offers meaningful efficiency gains, parties must carefully weigh trade-offs, including reduced time for boards to consider topping proposals and potential sequencing issues with go-shop periods.
Alerts
4.21.26
SEC Permits Accelerated Offering Period for Certain Tender Offers
On April 16, 2026, the Division of Corporation Finance (the Division) of the Securities and Exchange Commission, acting under delegated authority, issued an Exemptive Order (the Order) providing flexibility to shorten the minimum offering period for certain types of equity tender offers from 20 business days to 10 business days. The Order is intended to reflect technological advancements and address market inefficiencies in eligible transactions. The shortened offering period has the potential to compress sign-to-close timelines for well-organized friendly deals, and to accelerate the closing of some self-tender offers by public and private companies.
Client Highlights
1.07.26
Wilson Sonsini Advises OneStream on Acquisition by Hg
On January 6, 2026, OneStream, the leading enterprise finance management platform, announced that it has entered into a definitive agreement to be acquired by Hg, a leading investor in software, services, and data businesses. The all-cash transaction values OneStream at approximately $6.4 billion in equity value. Wilson Sonsini Goodrich & Rosati advised OneStream on this transaction in a continuation of its long-standing advisory relationship with the company, including leading OneStream’s Up-C IPO in July 2024.
Client Highlights
12.17.25
Wilson Sonsini Advises Udemy on Combination with Coursera
On December 17, 2025, Udemy, Inc., an AI-powered skills acceleration platform that combines on-demand, multi-language content with real-time innovation, and Coursera, Inc., an AI-powered online learning platform, announced that they have entered into a definitive merger agreement under which Coursera will combine with Udemy in an all-stock transaction. Based on the closing prices of Coursera and Udemy common stock on December 16, 2025, the implied equity value of the combined company is approximately $2.5 billion. The transaction is expected to close by the second half of 2026, subject to the receipt of required regulatory approvals, approval by Coursera and Udemy shareholders, and the satisfaction of other customary closing conditions.
Client Highlights
10.13.25
Wilson Sonsini Advises Fivetran on Merger with dbt Labs
On October 13, 2025, Fivetran, a global leader in automated data movement, announced that it signed a definitive agreement to merge with dbt Labs, a pioneer of modern data transformation, in an all-stock deal. The combined company will be approaching $600 million in annual recurring revenue. The transaction marks significant consolidation in the data tooling market as enterprises race to adapt infrastructure for artificial intelligence applications. Wilson Sonsini Goodrich & Rosati advised Fivetran on the transaction.
Client Highlights
5.09.25
Wilson Sonsini Advises AppLovin on Agreement to Sell Mobile Gaming Business to Tripledot
AppLovin Corporation, a leading marketing platform, announced the entry into a definitive agreement to sell its mobile gaming business to Tripledot for $400.0 million in cash consideration and equity consideration representing approximately 20% of Tripledot. The deal is anticipated to close in the second quarter of 2025, pending regulatory approvals. Wilson Sonsini Goodrich & Rosati advised AppLovin on the transaction.
Client Highlights
12.20.24
Wilson Sonsini Advises Grammarly on Acquisition of Coda
On December 17, 2024, Grammarly, the trusted AI assistant, announced its intent to acquire productivity platform Coda, with Coda's CEO and co-founder Shishir Mehrotra set to become the new CEO of Grammarly. The addition of Coda’s flexible and powerful AI tools and surfaces aims to transform Grammarly into an AI productivity platform for apps and agents where customers can unlock access to company knowledge, generative AI chat, a productivity suite, and capable, trusted AI agents to work smarter and faster. “The acquisition of Coda is a big step toward achieving our vision of a world where humans and AI work together everywhere work happens,” said Grammarly co-founder Alex Shevchenko.
Client Highlights
6.20.24
Firm Advises Silk Road Medical on $1.26 Billion Acquisition by Boston Scientific
On June 18, 2024, Silk Road Medical announced that it entered into a definitive agreement to be acquired by Boston Scientific Corporation for a purchase price of $27.50 per share, reflecting an aggregate equity value of approximately $1.26 billion. Silk Road Medical is a medical device company that has developed an innovative platform of products to prevent stroke in patients with carotid artery disease through a minimally invasive procedure called transcarotid artery revascularization (TCAR). Wilson Sonsini Goodrich & Rosati advised Silk Road Medical on the transaction.
Client Highlights
4.24.24
Wilson Sonsini Advises HashiCorp on $6.4 Billion Acquisition by IBM
On April 24, 2024, IBM and HashiCorp Inc., a leading multi-cloud infrastructure automation company, announced that they have entered into a definitive agreement under which IBM will acquire HashiCorp for $35 per share in cash, representing an enterprise value of $6.4 billion. Wilson Sonsini Goodrich & Rosati is advising HashiCorp on the transaction.
HashiCorp's suite of products provides enterprises with extensive Infrastructure Lifecycle Management and Security Lifecycle Management capabilities to enable organizations to automate their hybrid and multi-cloud environments. IBM’s acquisition continues its deep focus and investment in hybrid cloud and AI, the two most transformational technologies for clients today.
HashiCorp boasts a roster of more than 4,400 clients, including Bloomberg, Comcast, Deutsche Bank, GitHub, J.P Morgan Chase, Starbucks, and Vodafone. HashiCorp's offerings have widescale adoption in the developer community and are used by 85 percent of the Fortune 500. Their community products across infrastructure and security were downloaded more than 500 million times in HashiCorp's FY2024.
The boards of directors of IBM and HashiCorp have both approved the transaction, which is subject to approval by HashiCorp shareholders, regulatory approvals, and other customary closing conditions. The transaction is expected to close by the end of 2024.
The Wilson Sonsini team advising HashiCorp on the acquisition includes:
HashiCorp's suite of products provides enterprises with extensive Infrastructure Lifecycle Management and Security Lifecycle Management capabilities to enable organizations to automate their hybrid and multi-cloud environments. IBM’s acquisition continues its deep focus and investment in hybrid cloud and AI, the two most transformational technologies for clients today.
HashiCorp boasts a roster of more than 4,400 clients, including Bloomberg, Comcast, Deutsche Bank, GitHub, J.P Morgan Chase, Starbucks, and Vodafone. HashiCorp's offerings have widescale adoption in the developer community and are used by 85 percent of the Fortune 500. Their community products across infrastructure and security were downloaded more than 500 million times in HashiCorp's FY2024.
The boards of directors of IBM and HashiCorp have both approved the transaction, which is subject to approval by HashiCorp shareholders, regulatory approvals, and other customary closing conditions. The transaction is expected to close by the end of 2024.
The Wilson Sonsini team advising HashiCorp on the acquisition includes:
Client Highlights
1.24.24
Wilson Sonsini Advises Edgewise Therapeutics on $240 Million Underwritten Offering
On January 19, 2024, Edgewise Therapeutics, a leading muscle disease biopharmaceutical company, announced the pricing of an underwritten offering of 21,818,182 shares of its common stock at an offering price of $11.00 per share. Edgewise anticipates gross proceeds from the offering to be approximately $240 million, before deducting underwriting discounts and commissions and offering expenses. The closing of the offering occurred on January 23, 2024. Wilson Sonsini Goodrich & Rosati represented Edgewise Therapeutics on the transaction.
Client Highlights
12.01.23
Wilson Sonsini Advises Rover on $2.3 Billion Acquisition by Blackstone
On November 29, 2023, Blackstone Inc. announced the acquisition of Rover Group Inc., the world’s largest online marketplace for pet care, in an all-cash deal worth $2.3 billion. Wilson Sonsini Goodrich & Rosati advised Rover on the transaction.