News

10.13.2023

Sheppard Mullin’s Corporate practice has closed a variety of deals and transactions over the past few months:

Financings

• Represented Carenostics Inc., a pioneering healthcare artificial intelligence startup tackling undiagnosed and undertreated chronic disease, in its $5 million series seed financing round.  The round was led by M13 Ventures, with participation from GreatPoint Ventures and Gaingels.  The deal team was led by partner Daniel Belzer with invaluable assistance from associates Jay Chen and Nayan Karanth. (September 14)

Mergers & Acquisitions

• Advised Acturis, a leading global provider of insurance software and services for insurance agencies and carriers worldwide, in its acquisition of Broker Buddha, the leading digital client engagement platform for insurance agencies looking to improve their customer experience and increase their brand loyalty. The deal team was led by partner Valérie Demont and associate Christina Nguyen with special assistance from partners Dmitriy Chelnitsky, Wynter Deagle, Sean Kirby, Fatema Merchant, Niya Tang, Carlo Van den Bosch and associates Michael Weisshar, Anne-Marie Dao, Erin Hausladen, Evan Lim and Iman Naieem. (August 3)
• Represented Sidus Space, a satellite manufacturing and space services company, in its acquisition of Exo-Space, a cutting-edge California-based firm specializing in Edge Artificial Intelligence software and hardware for space applications. The deal team was led by partner Jeffrey Fessler and associate Keren Baruch, with invaluable assistance from partners Dmitriy Chelnitsky, Niya Tang, associates Brian Egan and Julia Kadish and attorney Patrick Hao. (August 22)

Partnerships

• Advised Sansum Clinic, the oldest and largest non-profit, outpatient healthcare provider on the California Central Coast, in connection with its affiliation with Sutter Health, a not-for-profit system of associated clinicians, employees and volunteers that support more than 3 million patients across two dozen counties in California. The deal team was led by partners John Golembesky, Eric Klein and Greg Schick and associates Katie O’Neill and Emma Arroyo. (October 2)

Public Offerings

• Represented Aridis Pharmaceuticals, Inc. (OTC: ARDS), a biopharmaceutical company focused on the discovery and development of novel anti-infective therapies for treating life-threatening infections, in its $2.0 million public offering of common stock. The deal team was led by partner Jeffrey Fessler and special counsel Sean Reid. (August 2)
• Advised Hepion Pharmaceuticals, Inc., a clinical biopharmaceutical company focused on AI assisted therapeutic drug development for the treatment of certain chronic diseases, in connection with a securities purchase agreement with a healthcare-focused institutional investor for the purchase and sale of 980,393 shares of its common stock at a purchase price of $5.10 per share in a registered direct offering. The deal team was led by partner Jeff Fessler and special counsel Sean Reid. (September 29)
• Represented Syra Health Corp. (NASDAQ: SYRA), a healthcare consulting company with a mission to improve healthcare by providing innovative services and technology solutions, in its $6.7 million initial public offering of common stock and warrants. The deal team was led by partner Jeffrey Fessler and associates Nazia Khan and Hannah Zelcer. (October 3)
• Advised The Benchmark Company as underwriter in connection with Sacks Parente Golf Inc.’s (NASDAQ:SPGC) $13 million initial public offering of common shares. Sacks Parente Golf is a technology-forward golf company, with a growing portfolio of golf products, including putting instruments, golf shafts, golf grips and other golf-related products. The deal team was led by partners Richard Friedman and Stephen Cohen and associate Hannah Zelcer. (August 15)
• Advised The Benchmark Company as underwriter in connection with KULR Technology Group, Inc.’s $2.5 million public offering of common stock. KULR is a global leader in sustainable energy management. The deal team included partner Richard Friedman and associates Nazia Khan and Emily Mastoloni. Partner Jim Gatto advised on IP matters. (September 13)

Private Placements

• Represented Aditxt, Inc., an innovation company developing and commercializing technologies focused on monitoring and modulating the immune system, in connection with a $10 million private placement of common stock and warrants. The deal team was led by partner Richard Friedman, special counsel Sean Reid and associate Emily Mastoloni. (September 6)
• Advised the placement agent in connection with a $28 million private placement offering of common stock, pre-funded warrants and milestone-driven warrants of enVVeno Medical Corporation (NASDAQ: NVNO), an Irvine, California-based, late clinical-stage medical device company focused on the advancement of innovative bioprosthetic (tissue-based) solutions to improve the standard of care for the treatment of venous disease. The deal team was led by partner Richard Friedman and included partner Stephen Cohen and associate Emily Mastoloni. (October 6)