Insights
Search Results
Client Highlights
10.19.26
Firm Advises Alector on $75 Million Underwritten Offering
On October 16, 2026, Alector, a biotechnology company focused on developing therapies to counteract the devastating progression of neurodegeneration, announced the pricing of an underwritten offering of common stock. Alector is selling 36,600,000 shares of common stock at an offering price of $2.05 per share, which represents a premium of approximately 7.3 percent over the closing price on October 15, 2026. The gross proceeds to Alector from this offering are expected to be $75,030,000 before deducting the underwriting discounts and commissions and other estimated offering expenses. The financing includes participation from new and existing investors, including TCGX, BVF Partners, ADAR1 Capital Management, and Deep Track Capital, among others. Wilson Sonsini Goodrich & Rosati advised Alector on the transaction.
Alerts
9.08.26
FINRA Adopts New Intraday Margin Requirements
The Financial Industry Regulatory Authority (FINRA) recently adopted amendments to FINRA Rule 4210 Margin Requirements (Amendments), which will substantially alter the supervision and regulation of margin day trading. The Amendments were designed to simplify existing requirements around active trading while modernizing the rules to reflect advances in real-time risk monitoring technology.
Client Highlights
8.26.26
Wilson Sonsini Advises Altruist on Acquisition by Vanguard
On August 26, 2026, Vanguard and Altruist, an AI-forward wealth technology and custody platform serving financial advisors, announced that they have entered into a definitive agreement under which Vanguard will acquire Altruist. Wilson Sonsini Goodrich & Rosati is advising Altruist on the transaction.
Client Highlights
7.08.26
Wilson Sonsini Advises Arca on $64 Million Series A
On June 24, 2026, Arca Wealth (Arca), an AI-native wealth management company that brings personalized, advisor-led financial services, exited stealth and announced it secured $64 million across its seed round and Series A. The $48.5 million Series A was led by General Catalyst, with strong backing from Index Ventures and Venrock. Venrock also led the company's $15.5 million seed round. Wilson Sonsini Goodrich & Rosati advised Arca on the transaction.
Alerts
5.15.26
Takeaways from the Maduro Raid Prediction Market Indictment
On April 23, 2026, the Commodity Futures Trading Commission (CFTC) and the U.S. Attorney’s Office for the Southern District of New York (SDNY) brought parallel civil and criminal charges against U.S. Army Master Sergeant Gannon Ken Van Dyke related to insider trading in connection with event contracts used in prediction markets. The civil complaint marks the first-ever insider trading case brought by the CFTC involving event contracts in prediction markets.
Alerts
4.27.26
SEC and CFTC Propose to Scale Back Form PF Reporting Requirements
On April 20, 2026, the Securities and Exchange Commission (SEC) and U.S. Commodity Futures Trading Commission (CFTC) jointly proposed amendments to Form PF that would significantly reduce reporting obligations for many private fund advisers while seeking to preserve regulators’ ability to monitor risk in the private fund space.