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2.22.24
2023 Technology and Life Sciences PIPE and RDO Report
Wilson Sonsini’s 2023 Technology and Life Sciences PIPE and RDO Report presents analysis related to 177 private investments in public equity (PIPEs) and registered direct offerings (RDOs) by U.S.-based technology and life sciences companies between January 1 and December 31, 2023. PIPEs and RDOs can be good alternatives to traditional underwritten offerings, particularly during periods of market volatility, because they can be negotiated discreetly and publicly announced after the parties agree to terms.
Client Highlights
11.10.23
Wilson Sonsini Advises Alpine Immune Sciences on $150 Million Follow-on Public Offering
On November 6, 2023, Alpine Immune Sciences, Inc., a clinical-stage immunotherapy company focused on developing innovative treatments for autoimmune and inflammatory diseases, announced the pricing of its underwritten public offering of 8,800,000 shares of its common stock and pre-funded warrants to purchase up to 3,200,000 shares of its common stock, pursuant to its existing shelf registration statement. Wilson Sonsini Goodrich & Rosati advised Alpine Immune Sciences on the transaction.
Client Highlights
10.17.23
Wilson Sonsini Advises Denodo on $336 Million Series B Financing
On September 13, 2023, Denodo, a leader in data management, and TPG, a global alternative asset management firm, announced that they have signed a definitive agreement for TPG Growth, the firm’s middle market and growth equity platform, to invest $336 million in Denodo’s Series B preferred equity. The transaction, which includes both primary capital and a secondary sale of shares by HGGC, held its initial closing on October 16, 2023. HGGC, which invested in Denodo’s Series A investment round in 2017, will remain a significant investor.
Newsletters
4.26.23
2022 Technology and Life Sciences PIPE Report
In this inaugural issue, we present analysis related to 108 private investments in public equity (PIPEs) by U.S.-based technology and life sciences companies between January 1 and December 31, 2022, in which each company raised at least $10 million.
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
10.04.22
Pro Bono Team Secures Deferral of Removal for Client from Nigeria
On October 3, 2022, a Wilson Sonsini pro bono team led by Of Counsel Ariel Anaba secured deferral of removal for Jon (not his real name), a Nigerian immigrant who had served a substantial federal sentence and was set to be deported from the United States. Jon is bisexual, and in light of Nigeria’s hostility toward LGBTQ+ individuals, a decision sending him back to his native country would have been catastrophic.
Ariel, along with partner Mark Yohalem, initially took on the representation of Jon in 2017, before joining Wilson Sonsini. Over the next five years, she succeeded first in the Ninth Circuit, then in the Board of Immigration Appeals (BIA), and then before the Immigration Judge (IJ). After convincing the Ninth Circuit and BIA to reopen the case, the core challenge was to convince the IJ that Jon was bisexual, notwithstanding his having spent his life in the closet (such that he essentially had no corroborative evidence) and his having been convicted of fraud. Ariel’s written work and oral advocacy presented the story of Jon’s life in a way that rang with truth, and in the case’s final stage, Callie Davidson became involved to conduct Jon’s direct examination, which went extremely well.
As a result of the October 3 victory, Jon will not be sent back to be tortured and killed in Nigeria.
In addition to Ariel, Mark, and Callie, the Wilson Sonsini pro bono team that assisted Jon in the matter included John Roberts, Katie Obermiller, Kristijonas Rastauskas, Diana Lopez, and Tatiana Thomas.
Ariel, along with partner Mark Yohalem, initially took on the representation of Jon in 2017, before joining Wilson Sonsini. Over the next five years, she succeeded first in the Ninth Circuit, then in the Board of Immigration Appeals (BIA), and then before the Immigration Judge (IJ). After convincing the Ninth Circuit and BIA to reopen the case, the core challenge was to convince the IJ that Jon was bisexual, notwithstanding his having spent his life in the closet (such that he essentially had no corroborative evidence) and his having been convicted of fraud. Ariel’s written work and oral advocacy presented the story of Jon’s life in a way that rang with truth, and in the case’s final stage, Callie Davidson became involved to conduct Jon’s direct examination, which went extremely well.
As a result of the October 3 victory, Jon will not be sent back to be tortured and killed in Nigeria.
In addition to Ariel, Mark, and Callie, the Wilson Sonsini pro bono team that assisted Jon in the matter included John Roberts, Katie Obermiller, Kristijonas Rastauskas, Diana Lopez, and Tatiana Thomas.