Steven V. Bernard

Steven V. Bernard

Partner

International Capital Markets Expertise

Steve has over 25 years of experience representing non-U.S. companies that are seeking to list on Nasdaq or the NYSE, or otherwise raise capital in the U.S. in a private financing.
Unique, First-of-a-Kind Cross-Border Deal Experience

Steve structured the first simultaneous dual-listing of ADRs on Nasdaq and a German stock exchange, the first Tier II issuer self-tender by a dual-listed Indian issuer and the first Global Share Program by a Nasdaq-listed issuer.
Public Company Guidance

Steve guides domestic issuers and foreign private issuers through their life as a U.S.-listed company.

Steve Bernard is a partner at Wilson Sonsini Goodrich & Rosati, where he specializes in representing non-U.S. and domestic companies in U.S. IPOs, global securities offerings, cross-border mergers and acquisitions, and SEC compliance. For more than 25 years, Steve has helped private and public companies from countries throughout the world to raise capital in the United States. His practice includes all aspects of public and private company representation, including corporate governance and SEC reporting. He also has represented underwriters in numerous public offerings and investors in venture financings.

Steve’s decades of experience advising non-U.S. issuers enables him to proactively identify the potential pitfalls that such companies may experience and provide practical advice to avoid them. In addition to having a lead role in a majority of Wilson Sonsini’s non-U.S. issuer IPOs, Steve also helps to manage the firm’s cross-border practice and relationships with non-U.S. law firms.

Experience

Education

J.D., New York University School of Law
B.A., Foreign Affairs, University of Virginia

Associations and Memberships

Chair, Securities Filing Program, Practising Law Institute
Lecturer, Practising Law Institute

Honors

Named in Northern California Super Lawyers in 2013-2020

Admissions

State Bar of California
State Bar of New York

Credentials

Education

J.D., New York University School of Law
B.A., Foreign Affairs, University of Virginia

Associations and Memberships

Chair, Securities Filing Program, Practising Law Institute
Lecturer, Practising Law Institute

Honors

Named in Northern California Super Lawyers in 2013-2020

Admissions

State Bar of California
State Bar of New York

Select Transactions

Ascentage Pharma Group International in its U.S. IPO and dual listing
Eupraxia Pharmaceuticals Inc. in its U.S. listing and MJDS shelf registration statement
Gogoro Inc. in its U.S. listing via de-SPAC
Informatica Inc. in its IPO
Freyr Battery in its U.S. listing via de-SPAC
4D pharma plc in its U.S. listing via de-SPAC
Goldman Sachs and JPMorgan in the IPO of Marqeta, Inc.
JFrog Ltd. in its IPO
Palantir Technologies Inc. in its public offering through a direct listing
Agora, Inc. in its IPO
Elastic N.V. in its IPO
Talend S.A. in its IPO
SolarCity Corporation in its IPO
Xenon Pharmaceuticals in its IPO
Infosys Limited in its $2 billion global issuer self-tender
CSR plc in its U.S. listing and global issuer self-tender
Westfield Corporation Limited in the spin-off and ASX listing of its OneMarket Limited subsidiary
Mesoblast Limited in its U.S. IPO and dual listing
Morgan Stanley in the IPO of AVG Technologies N.V.

Matters

Select Transactions

Ascentage Pharma Group International in its U.S. IPO and dual listing
Eupraxia Pharmaceuticals Inc. in its U.S. listing and MJDS shelf registration statement
Gogoro Inc. in its U.S. listing via de-SPAC
Informatica Inc. in its IPO
Freyr Battery in its U.S. listing via de-SPAC
4D pharma plc in its U.S. listing via de-SPAC
Goldman Sachs and JPMorgan in the IPO of Marqeta, Inc.
JFrog Ltd. in its IPO
Palantir Technologies Inc. in its public offering through a direct listing
Agora, Inc. in its IPO
Elastic N.V. in its IPO
Talend S.A. in its IPO
SolarCity Corporation in its IPO
Xenon Pharmaceuticals in its IPO
Infosys Limited in its $2 billion global issuer self-tender
CSR plc in its U.S. listing and global issuer self-tender
Westfield Corporation Limited in the spin-off and ASX listing of its OneMarket Limited subsidiary
Mesoblast Limited in its U.S. IPO and dual listing
Morgan Stanley in the IPO of AVG Technologies N.V.

Select Public Company Clients

4D pharma plc
Agora, Inc.
Elastic N.V.
Gogoro Inc.
Informatica Inc.
Infosys Limited
Logitech International S.A.
Marqeta, Inc.
Pushpay Limited
Xenon Pharmaceuticals Inc.
Xero Limited
Zynga Inc.

Clients

Select Public Company Clients

4D pharma plc
Agora, Inc.
Elastic N.V.
Gogoro Inc.
Informatica Inc.
Infosys Limited
Logitech International S.A.
Marqeta, Inc.
Pushpay Limited
Xenon Pharmaceuticals Inc.
Xero Limited
Zynga Inc.

Select Publications

"Trading Activities in Connection with Distributions: Regulation M," Practising Law Institute
"Quarterly Reports on Form 10-Q," Practising Law Institute
"Preparation of the Annual Report on Form 10-K," Practising Law Institute
"Interim Reports on Form 8-K," Practising Law Institute
"Risk Factors Disclosure and the Private Securities Litigation Reform Act," Practising Law Institute
"Registration Statements under the Securities Exchange Act of 1934: Form 10 and Form 8-A," Practising Law Institute
"Third-Party Legal Opinions in Acquisitions of Privately Held Companies," Practising Law Institute
"Resales of Securities under Rule 144 and Rule 144A," Practising Law Institute

Select Speaking Engagements

Presenter, "SPACs, IPOs, and Direct Listings: Alternative Public U.S. Exit Strategies for European Tech Companies" webinar
Guest Lecturer, "Private Company Exits: M&A vs. IPO," Stanford Law School and UC Berkeley School of Law
Keynote Speaker, "US IPOs by Non-US Companies," London
Speaker, "The Future Role and Form of Disclosure Documents - The US Perspective," Amsterdam
Panel Speaker, "Balancing Strategic with Financial Objectives in Corporate Venture Investments," London

Insights

Select Publications

"Trading Activities in Connection with Distributions: Regulation M," Practising Law Institute
"Quarterly Reports on Form 10-Q," Practising Law Institute
"Preparation of the Annual Report on Form 10-K," Practising Law Institute
"Interim Reports on Form 8-K," Practising Law Institute
"Risk Factors Disclosure and the Private Securities Litigation Reform Act," Practising Law Institute
"Registration Statements under the Securities Exchange Act of 1934: Form 10 and Form 8-A," Practising Law Institute
"Third-Party Legal Opinions in Acquisitions of Privately Held Companies," Practising Law Institute
"Resales of Securities under Rule 144 and Rule 144A," Practising Law Institute

Select Speaking Engagements

Presenter, "SPACs, IPOs, and Direct Listings: Alternative Public U.S. Exit Strategies for European Tech Companies" webinar
Guest Lecturer, "Private Company Exits: M&A vs. IPO," Stanford Law School and UC Berkeley School of Law
Keynote Speaker, "US IPOs by Non-US Companies," London
Speaker, "The Future Role and Form of Disclosure Documents - The US Perspective," Amsterdam
Panel Speaker, "Balancing Strategic with Financial Objectives in Corporate Venture Investments," London

Recent Insights

Alerts

On March 5, 2026, the U.S. Securities and Exchange Commission (SEC or Commission) issued an exemptive order relieving directors and officers of certain foreign private issuers (FPIs) from the Section 16(a) reporting requirements of the Securities Exchange Act of 1934 (Exchange Act). This relief applies to directors and officers filing reports under certain qualifying regulations in the jurisdictions identified in the order, subject to specific conditions.

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Alerts

On February 27, 2026, the U.S. Securities and Exchange Commission (SEC or Commission) announced that it adopted final rule and form amendments implementing the Holding Foreign Insiders Accountable Act (the HFIA Act). The HFIA Act, enacted on December 18, 2025,¹ marks a significant change in the U.S. disclosure framework for foreign private issuers (FPIs)² and—most directly—to their directors and officers.³

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Recent Events

Affiliated Programs

Tech Tour Growth - Europe is hosting the entrepreneurs of Europe's most promising tech companies and the most active growth investors, both GPs and LPs.

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WSGR Events

As the U.S. exit landscape continues to evolve, alternative approaches—such as SPACs—are making U.S. IPOs accessible to a wider array of European companies. SPAC business combinations have recently offered private companies a potentially efficient way to raise funding at attractive valuations. However, while initially appealing, related factors such as outcome, opportunity, and underlying risks require careful consideration, especially as this red-hot industry faces new challenges ahead.

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