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Sullivan Advises Select Income REIT in Offering of $350 Million of Unsecured Notes

Posted by Administrator on May 16, 2017 at 8:55 AM
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A Sullivan team represented Select Income REIT (Nasdaq: SIR) in its underwritten public offering of $350 million of 4.25% senior unsecured notes due May 15, 2024. SIR expects to use the net proceeds from this offering to repay amounts outstanding under its revolving credit facility and for general business purposes.

The offering press release can be viewed here.

The Sullivan team included Benjamin Armour, Howard Berkenblit and William Curry.

Sullivan is a leading corporate law firm advising clients ranging from Fortune 500 companies to emerging businesses. With more than 175 lawyers in Boston, London, New York and Washington, D.C., the firm offers services in a wide range of areas, including corporate finance, banking, trade finance, securities and mutual funds, litigation, mergers and acquisitions, intellectual property, tax, real estate and REITs, private equity and venture capital, bankruptcy, environment and natural resources, climate change, renewable energy and water resources, regulatory law, and employment and benefits. For more information please visit www.sullivanlaw.com

Topics: SEC, NASDAQ, offering

ZAG/Sullivan Represents Pluristem Therapeutics in $17.3 Million Stock Offering

Posted by Administrator on January 27, 2017 at 10:58 AM

A ZAG/Sullivan team represented Pluristem Therapeutics Inc. (NASDAQCM: PSTI, TASE: PLTR), a leading developer of placenta-based cell therapy products, in its $17.3 million underwritten public offering of common stock and warrants, which included a full exercise of the underwriter’s over-allotment option. Pluristem intends to use the net proceeds of the offering for research and product development activities, clinical trial activities, investment in capital equipment and for working capital and other general corporate purposes.

The offering press releases can be viewed here and here, and the prospectus related to the offering can be found here.

The ZAG/Sullivan team included Oded Har-Even, Howard Berkenblit, Shy Baranov and Ron Ben-Bassat.

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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: SEC, NASDAQ, offering

Sullivan Advises Hospitality Properties Trust in Offering of $600 Million of Unsecured Notes

Posted by Administrator on January 26, 2017 at 11:10 AM

An Sullivan team represented Hospitality Properties Trust (Nasdaq: HPT) in its underwritten public offerings of $400 million of 4.95% unsecured senior notes due February 15, 2027 and $200 million of 4.50% unsecured senior notes due June 15, 2023, the latter of which consisted of a re-opening of an outstanding series of HPT’s notes. HPT expects to use the net proceeds from these offerings to repay amounts outstanding under its unsecured revolving credit facility, for general business purposes and possibly to redeem some or all of its outstanding 7.125% series D cumulative redeemable preferred shares of beneficial interest.

The offering press release can be viewed here and the prospectus related to the offerings can be found here.

The S&W team included Howard Berkenblit, Bill Curry, and Jeff Morlend,  as well as Ameek Ponda and Brian Hammell on tax matters.


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Sullivan is a leading corporate law firm advising clients ranging from Fortune 500 companies to emerging businesses. With more than 175 lawyers in Boston, London, New York and Washington, D.C., the firm offers services in a wide range of areas, including corporate finance, banking, trade finance, securities and mutual funds, litigation, mergers and acquisitions, intellectual property, tax, real estate and REITs, private equity and venture capital, bankruptcy, environment and natural resources, climate change, renewable energy and water resources, regulatory law, and employment and benefits. For more information please visit www.sullivanlaw.com.  

 

Topics: SEC, NASDAQ, offering

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.

The material on this site is for general information only and is not legal advice. No liability is accepted for any loss or damage which may result from reliance on it. Always consult a qualified lawyer about a specific legal problem.

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