Sheppard Mullin’s Corporate practice has closed several transactions recently:
Mergers & Acquisitions
- Represented Dastan, Inc., the parent company of Rug Radio, a Web3 Media platform, in its merger with Decrypt Media Inc., an independent media brand. The merger brought the Rug Radio and Decrypt Media brands together under Dastan to launch MYRIAD, as the evolution of Decrypt and Rug Radio’s “interconnected media ecosystem.” The deal was led by partners Alexander Lazar, Chad Ensz, Niya Tang and Dmitriy Chelnitsky and associates Tiana Garbett, Luke Fishman, Keith Goodwin, Patrick Hao, Maria Gomez and Brittany Walter.
- Represented ExlService Holdings, a leading data analytics and digital operations and solutions company, in its acquisition of ITI Data, a data management solutions firm that works with the world’s largest banks, financial services and healthcare companies. The deal was led by partners Valérie Demont and Matthew McCalip and associate Anushna Das. Invaluable assistance was provided by partners Greg Berk, Michael Chan, Dmitriy Chelnitsky, Wynter Deagle, Sean Kirby, Carolyn Metnick, Niya Tang and Daniel Yannuzzi, counsel Dimitris Vallindas, special counsel Andrew Desposito and Malika Levarlet and associates Theo Mayer, Iman Naieem, Lauren Watson and Michael Weisshar.
- Advised PrimeLine Utility Services, a subsidiary of VINCI and a leading provider of end-to-end infrastructure solutions to electric, gas and telecommunications customers, in its acquisition of One Way Wireless Construction, a cellular telecommunications infrastructure and electrical services company. The deal was led by partner Valérie Demont and associates Anushna Das and Chelsea Lim. Special assistance was provided by partners Brian Weimer, Daniel Yannuzzi, Dmitriy Chelnitsky, Michael Chan, Robert Gorzelany, Sean Kirby, Wynter Deagle, Niya Tang, Olivier Theard and Townsend Bourne, special counsel Malika Levarlet, attorney Robert Sturgeon and associates Robert Foster, Emily Dalessio, Theo Mayer, Lauren Watson and Michael Weisshar.
- Represented Tri-State Painting, Inc., an industry leader specializing in complex, lead, PCB removal and special requirement surface preparation and painting contracts, in its sale to Muehlhan Surface Protection, Inc., the U.S. subsidiary of Muehlhan Holding GmbH and a portfolio company of One Equity Partners. The deal was led by partner Shon Glusky, special counsel Carol Archer, associate Stephanie Nguyen and attorney Zana Operta. Invaluable assistance was provided by partners Dmitriy Chelnitsky, Niya Tang, of counsel James Hays and associates Lauren Watson and Michael Weisshar.
- Advised private equity firm Woodson Equity in its acquisition of First Source Electronics, a subsidiary of Commercial Vehicle Group. First Source Electronics manufactures electro-mechanical assemblies, chassis integration and cable assemblies, and provides automated warehouse, industrial automation and engineering solutions. The deal was led by partners Zac Turke and Peter Park and included partners Michael Chan, Frank Dworak, Kyle Mathews, Timothy Reimers, Keith Szeliga and Reid Whitten, special counsel Kendra Leghart and associates Chenxi Li, Jordan Mallory, Theo Mayer, Arthur Moore and Megan Ricker.
Investments
- Represented the existing preferred stockholder syndicate (S. Venture Partners, Amzak Health, Treo Ventures and Aperture Venture Partners) as an investor in ShiraTronics’ $66 million Series B funding round. The Minneapolis-based medical device company develops neurostimulation therapies for chronic migraine patients and plans to use the latest funding to support its recently launched FDA-approved pivotal trial, the RELIEV-CM2 clinical study. The deal was led by partners Shon Glusky and Farha Moiduddin.
Public Offerings
- Advised Cardiff Oncology, Inc., a clinical-stage biotechnology company leveraging PLK1 inhibition to develop novel therapies across a range of cancers, in the underwriting of approximately $40 million of common stock being offered by the company. The oversubscribed round will allow Cardiff Oncology to use net proceeds to fund clinical costs for onvansertib in first-line RAS-mutated metastatic colorectal cancer (mCRC) and for working capital and general corporate purposes. The deal was led by partner Jeffrey Fessler and associate Seth Lemings.
- Represented Sidus Space, a multi-faceted space and data-as-a-service company, in the closing of its $7 million public offering of common stock. The deal was led by partner Jeffrey Fessler and special counsel Sean Reid.
- Advised ThinkEquity as placement agent in connection with BioVie’s (NASDAQ: BIVI) i) $6.07 million registered direct offering of common stock and concurrent private placement of warrants; ii) $2.7 million registered direct offering of common stock and concurrent private placement of warrants; and iii) $3.2 million registered direct offering of common stock. BioVie is a clinical-stage company developing innovative drug therapies to treat chronic debilitating conditions including, liver disease and neurological and neuro-degenerative disorders. The deal was led by partners Jeffrey Fessler and Stephen Cohen.
- Represented Tiziana Life Sciences, a biotechnology company developing breakthrough immunomodulation therapies, with its lead development candidate, intranasal foralumab, a fully human and anti-CD3 monoclonal antibody, in its registered direct offering of common shares up to approximately $10 million. The deal was led by partner Jeffrey Fessler and associate Emily Mastoloni.
- Advised WallachBeth Capital as placement agent in connection with Bullfrog AI Holdings’ $3.13 million registered direct offering of common stock and concurrent private placement of common warrants. Bullfrog AI Holdings (NASDAQ:BFRG; BFRGW) is a technology-enabled drug development company using artificial intelligence and machine learning to enable the successful development of pharmaceuticals and biologics. WallachBeth Capital offers a robust range of capital markets and investment banking services to the healthcare community, connecting corporate clients with leading institutions. The deal was led by partners Richard Friedman and Stephen Cohen and associate Emily Mastoloni.
Private Placements
- Represented Sidus Space (NASDAQ: SIDU), an innovative, agile space mission enabler, in connection with its private placement offering of Common Stock and Warrants for aggregate gross proceeds of $14 million. The deal was led by partner Jeffrey Fessler, special counsel Sean Reid and associate Ashton Wiebe.
Financings
- Represented Agentio Inc. in its $12 million Series A financing round led by Benchmark, with existing lead investors Craft Ventures and AlleyCorp also participating in the round. The financing round included the conversion of $4.25 million worth of convertible securities, as well as the sale of $2 million worth of shares sold by the founders in secondary transactions. The deal was led by partner Daniel Belzer and associates Autumn Schmidt, Nayan Karanth and Alyssa Garcia.