News

07.31.2020

Sheppard Mullin’s Corporate practice has been busy closing a variety of deals and transactions recently:

• Represented Medal, Inc., a San Francisco-based biomedical Natural Language Processing (biomed-NLP) technology company, in its acquisition by Ciox Health, a leading health technology company. Medal's software helps identify, contextualize, and interpret narrative-based medical notes, leading to the creation of research-grade structured healthcare data sets at scale.  The Sheppard Mullin team was led by senior associate Vinay Bhupathy and partner Aytan Dahukey and included partner Darren Franklin and special counsel Susan Hwang. (July 29)

• Advised the joint lead bookrunning managers, The Benchmark Company LLC, and FT Global Capital Inc., in connection with a $61.8 million secondary public offering of American Depositary Shares (ADSs) of WiMi Hologram Cloud, Inc. (Nasdaq: WIMI).  WiMi’s ADSs are listed on the Nasdaq Global Market under the symbol “WIMI.”  WiMi operates the largest integrated holographic augmented reality (AR) application platform in terms of revenues in 2018 in China and has built the most comprehensive and diversified holographic AR content library among all holographic AR solution providers in China.  The Sheppard Mullin team included New York partners Richard Friedman and Stephen Cohen, and Shanghai associate Yuanmei Lu. (July 29)

• Represented Hollywood Bed & Spring Mfg Co., a Commerce, CA-based bed frame manufacturer, in its acquisition of the Linwood Hospitality division from Leggett & Platt Inc.  The acquisition will expand Hollywood Bed’s reach into the hotel and college dorm sectors, which have been significantly affected by Covid-19 shutdowns, but Hollywood Bed is confident will add significant long-term value. The acquisition also strengthens Hollywood Bed’s position in the hospitality and hotel/motel industry segment, and expands the company’s manufacturing and distribution operations to better serve customers on the East Coast.   The Sheppard Mullin team was led by partner Jordan Hamburger and included partners Keith Gercken and Jennifer Redmond. (July 6)
• Advised Delaware-based Aditx Therapeutics, Inc. in connection with a $11 million initial public offering of 1,226,668 units at an offering price of $9.00 per unit. Each unit will immediately separate into one share of common stock, one Series A warrant, and one Series B warrant. Aditx’s shares are began trading on the Nasdaq Capital Market on June 30, 2020 under the ticker symbol “ADTX.” The Sheppard Mullin team included partner Richard Friedman and associate Alex Yarbrough. (June 29)
• Represented Cardiff Oncology, Inc., a clinical-state oncology therapeutics company developing drugs to treat cancers with the greatest medical need for new treatment options, in its $13.5 million equity investment from biotech-focused fundamental institutional investors, Acorn Bioventures and CAM Capital. The Sheppard Mullin team was led by partner and Life Sciences and FDA Team leader Jeff Fessler and included associate Justin Anslow. (June 16)
• Advised Ameri Holdings Inc. in connection with a $1.75 million follow-on offering of common stock. Ameri’s common stock is listed on the Nasdaq Capital Market under the symbol “AMRH.”  The Sheppard Mullin team was led by partner Richard Friedman, and included partner Stephen Cohen and associate Justin Anslow and Taylor Ashton. (June 4)
• Represented Bond Manufacturing Co. Inc. in the sale of its hose and watering, garden tool, plant support and grower supply product lines to Orbit Irrigation, a portfolio company of Platinum Equity.  Bond Manufacturing is a U.S. based company with over 70 years of experience in manufacturing and distributing irrigation and garden products.   The Sheppard Mullin team, led by partner Larry Braun  and special counsel Jeff Kaye, included partners Michael Chan, Frank Dworak, Olivier Theard, and Carlo Van den Bosch; and associates Laura Baptista, John Crisp Rambod Peykar, Taylor Parks and Michael Weisshar. (June 1)