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Fast-paced December for U.S.-Israeli Law Firm ZAG/Sullivan Representing Underwriters in Offerings

Posted by Administrator on January 5, 2017 at 4:08 PM

ZAG/Sullivan, a joint venture between Sullivan and Zysman, Aharoni & Gayer, acted as legal advisor to Roth Capital Partners in two matters: Roth Capital’s underwriting of the offering 8 million shares of Class A common stock of LightPath Technologies, Inc. and Roth Capital’s sale of Top Image Systems Ltd.’s convertible notes. On behalf of Aegis Capital Corp., ZAG/Sullivan represented the financial services company in its role as underwriter of a Rennova Health, Inc. preferred stock offering; in an offering of ordinary shares and warrants of Rosetta Genomics; and in a registered direct offering of American depositary shares on behalf of Medigus, Ltd.

On December 21, it was announced that ZAG/Sullivan worked with Roth Capital on two matters. First, in the LightPath Technologies (NASDAQ: LPTH) deal, ZAG/Sullivan represented Roth Capital as sole book-running manager in underwriting an estimated $9.7 million public offering of LightPath Technologies Class A common stock at a price of $1.21 per share, including a fully exercised over-allotment option. The ZAG/Sullivan team on the deal was Oded Har-Even and Robert V. Condon III.

Earlier in the month, the ZAG/Sullivan team advised Roth Capital in the sale of $5 million of convertible notes of Top Image Systems, Ltd. (NASDAQ: TISA), an innovator of intelligent content processing solutions, to Hale Capital Partners LP.

Har-Even and Condon represented Aegis Capital in its role as underwriter in a $12.4 million offering of convertible preferred stock for Rennova Health (NASDAQ: RNVA), which closed on December 20.

And in November 2016, ZAG/Sullivan represented Aegis Capital as underwriter in a $4.5 million offering of ordinary shares and warrants by molecular diagnostics company Rosetta Genomics (NASDAQ: ROSG). The team also advised Medigus Ltd. (NASDAQ: MDGS, TASE: MDGS), a medical device company developing minimally invasive endosurgical tools and a leader in direct visualization technology, in a $763,000 registered direct offering of American depositary shares (ADS). The ZAG/Sullivan team on the Rosetta deal was Oded Har-Even, Robert V. Condon III and Ron Ben-Bassat. On the Medigus offering, the team included Oded Har-Even, Robert V. Condon III, Hila Nahum and Shy Baranov.

About ZAG/Sullivan
Law firm ZAG/Sullivan represents U.S. and foreign businesses, as well as sources of equity capital and debt financing such as banks and other financial institutions, individual and institutional investors. The firm facilitates a full range of financing transactions, including: initial public offerings (IPOs), secondary public offerings, venture capital investments, leveraged buyouts, private placements of securities, strategic partnerships and joint ventures. It also regularly handles shelf registrations, periodic SEC filings, stock exchange listings and compliance solutions. “ZAG/Sullivan’s work for clients transcends distance, culture, and language,” said Oded Har-Even. “Our bilingual team members in Israel and the U.S. understand the dynamics of two very different markets and can deftly bridge cultural differences on business practices, regulatory, securities and other legal issues to achieve your business goals.”

Topics: NASDAQ, offering, life sciences, Israel

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About the Blog


The SEC Pulse provides updates and commentary from our Capital Markets Group on issues affecting publicly traded and privately owned businesses, investment banks and foreign companies who trade or raise capital in the United States, and boards of directors and company officers in securities transactions and corporate governance matters.

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