Latham & Watkins

Coherus Completes Divestiture of Ophthalmology Franchise

Retrieved on: 
Monday, March 4, 2024

REDWOOD CITY, Calif., March 04, 2024 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (NASDAQ: CHRS) today announced the completion of the previously announced divestiture of its CIMERLI® (ranibizumab-eqrn) ophthalmology franchise through the sale of its subsidiary, Coherus Ophthalmology LLC, to Sandoz, Inc. for upfront all-cash consideration of $170 million. This divestiture included Coherus’ CIMERLI biologics license application, ophthalmology sales and select field reimbursement teams, and access to proprietary commercial software.

Key Points: 
  • REDWOOD CITY, Calif., March 04, 2024 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (NASDAQ: CHRS) today announced the completion of the previously announced divestiture of its CIMERLI® (ranibizumab-eqrn) ophthalmology franchise through the sale of its subsidiary, Coherus Ophthalmology LLC, to Sandoz, Inc. for upfront all-cash consideration of $170 million.
  • This divestiture included Coherus’ CIMERLI biologics license application, ophthalmology sales and select field reimbursement teams, and access to proprietary commercial software.
  • Coherus received upfront, all-cash consideration of $170 million plus certain purchase price adjustments, which will be finalized following the closing pursuant to the agreement between Coherus and Sandoz.
  • J.P. Morgan Securities LLC acted as the Company’s financial advisor, and Latham & Watkins LLP acted as legal counsel to Coherus in connection with the transaction.

Brera Holdings Signs All-Star Advisory Board to Lead Soccer World’s First Nasdaq-Listed Multi-Club Ownership Model

Retrieved on: 
Tuesday, February 27, 2024

DUBLIN, Ireland and MILAN, Italy, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Brera Holdings PLC (“Brera Holdings”, “Brera” or the “Company”) (Nasdaq: BREA) is pleased to announce the formation of a top-tier Advisory Board to lead the world’s first publicly-traded multi-club ownership (“MCO”) company in global football (American soccer).

Key Points: 
  • DUBLIN, Ireland and MILAN, Italy, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Brera Holdings PLC (“Brera Holdings”, “Brera” or the “Company”) (Nasdaq: BREA) is pleased to announce the formation of a top-tier Advisory Board to lead the world’s first publicly-traded multi-club ownership (“MCO”) company in global football (American soccer).
  • Rothenberg was president of U.S. Soccer , the governing body of American soccer during the 1990s and oversaw both the 1994 FIFA World Cup in the United States and the establishment of Major League Soccer (“MLS”) in 1996.
  • Geller has been a member of the board of directors for numerous Nasdaq and New York Stock Exchange listed companies.
  • “Landing an all-star team to join our Advisory Board is a resounding stamp of approval for Brera’s business model.

Godspeed Capital-Backed Stengel Hill Architecture Acquires Smith Consulting Architects

Retrieved on: 
Tuesday, March 5, 2024

Godspeed Capital Management LP (“Godspeed”), a lower middle market Defense & Government services, solutions, and technology focused private equity firm, today announced the acquisition of Smith Consulting Architects (“SCA”) by its architectural, engineering, and consulting (“AEC”) services platform, Stengel Hill Architecture (“SHA”).

Key Points: 
  • Godspeed Capital Management LP (“Godspeed”), a lower middle market Defense & Government services, solutions, and technology focused private equity firm, today announced the acquisition of Smith Consulting Architects (“SCA”) by its architectural, engineering, and consulting (“AEC”) services platform, Stengel Hill Architecture (“SHA”).
  • SHA is an award-winning master planning, architecture design and interior design firm focused on serving the U.S. healthcare facilities market.
  • The transaction marks the first addition to SHA’s growing platform of companies and extends its geographic footprint into California.
  • “We are pleased to welcome Smith Consulting Architects to the SHA platform, as its established footprint and sector expertise in the California architecture and design market will materially expand the reach and breadth of our services,” said Brad Stengel, Senior Principal and Founding Partner of SHA.

Luxium Solutions to Acquire PLX

Retrieved on: 
Monday, March 4, 2024

Luxium Solutions, LLC (“Luxium” or the “Company”), a worldwide technology leader and provider of high-performance crystals used in photonics and radiation detection applications, has entered into an agreement to acquire PLX Inc. and PLX UK, Ltd, (collectively, “PLX”) from an investor group led by Tinicum.

Key Points: 
  • Luxium Solutions, LLC (“Luxium” or the “Company”), a worldwide technology leader and provider of high-performance crystals used in photonics and radiation detection applications, has entered into an agreement to acquire PLX Inc. and PLX UK, Ltd, (collectively, “PLX”) from an investor group led by Tinicum.
  • “Both Luxium and PLX bring complementary technical expertise in applied material sciences to enable the applications of our customers.
  • Luxium and PLX share a strong alignment in their go-to-market strategies emphasizing collaboration with customers to develop customized solutions.
  • Furthermore, it’s clear that both companies share common values grounded in scientific excellence, quality, and customer satisfaction,” said Itai Vishnia, CEO of PLX, who will continue to lead the PLX group within the Luxium portfolio.

Independence Realty Trust Appoints Craig Macnab to its Board of Directors

Retrieved on: 
Friday, March 1, 2024

Independence Realty Trust, Inc. (NYSE: IRT) (“IRT” or the “Company”) today announced the appointment of Craig Macnab to its Board of Directors (the “Board”), effective February 29, 2024.

Key Points: 
  • Independence Realty Trust, Inc. (NYSE: IRT) (“IRT” or the “Company”) today announced the appointment of Craig Macnab to its Board of Directors (the “Board”), effective February 29, 2024.
  • Mr. Macnab’s appointment increases the size of IRT’s Board to 10 members, including 8 independent directors.
  • “We are pleased to welcome Craig to the IRT Board,” said Scott Schaeffer, Chairman and CEO of IRT.
  • The Board’s decision to opt out of MUTA reinforces our objective of maintaining leading governance and delivering value to our stockholders.”
    “I’m honored to be joining IRT’s Board,” said Craig Macnab.

Insurcomm Announces Growth Equity Investment from Summit Partners

Retrieved on: 
Thursday, February 29, 2024

Insurcomm, Inc. (“the Company” or “Insurcomm”), a rapidly growing provider of commercial and residential restoration services, today announced a majority growth investment from Summit Partners .

Key Points: 
  • Insurcomm, Inc. (“the Company” or “Insurcomm”), a rapidly growing provider of commercial and residential restoration services, today announced a majority growth investment from Summit Partners .
  • “Partnering with Summit will help Insurcomm enter a new and expanded era of growth, allowing us to scale our impact and drive value for property owners and insurers.
  • The Insurcomm team has built deep and trusted relationships with property owners and insurers, fueling strong growth in market share.
  • Harris Williams served as financial advisor to Summit Partners, and Latham & Watkins served as legal advisor.

Healthpeak Properties Closes Merger with Physicians Realty Trust

Retrieved on: 
Friday, March 1, 2024

Healthpeak Properties, Inc. (NYSE: PEAK) (“Healthpeak”) today announced that it has closed on the previously announced merger with Physicians Realty Trust.

Key Points: 
  • Healthpeak Properties, Inc. (NYSE: PEAK) (“Healthpeak”) today announced that it has closed on the previously announced merger with Physicians Realty Trust.
  • “We are pleased to announce the completion of our merger with Physicians Realty Trust,” said Scott Brinker, President and Chief Executive Officer of Healthpeak.
  • Proceeds from the term loan were used toward the repayment of $210 million of Physicians Realty Trust private placement notes and will be used for general corporate purposes, including transaction costs and repayment of borrowings under Healthpeak's commercial paper program.
  • BofA Securities and KeyBanc Capital Markets Inc. acted as lead financial advisors, BMO Capital Markets Corp. served as financial advisor, and Baker McKenzie acted as legal advisor to Physicians Realty Trust.

Audacy Receives Court Approval of Reorganization Plan

Retrieved on: 
Tuesday, February 20, 2024

Audacy, Inc., (OTC: AUDA) (the “Company” or “Audacy”) announced today that the United States Bankruptcy Court for the Southern District of Texas (the “Court”) approved the Company’s Plan of Reorganization (“the Plan”).

Key Points: 
  • Audacy, Inc., (OTC: AUDA) (the “Company” or “Audacy”) announced today that the United States Bankruptcy Court for the Southern District of Texas (the “Court”) approved the Company’s Plan of Reorganization (“the Plan”).
  • With the Plan approved, Audacy expects to emerge from the Chapter 11 process after the Company obtains approval from the Federal Communications Commission.
  • “Today’s announcement marks a powerful step forward for Audacy, positioning the Company for an exciting future,” said David J.
  • “As expected, we have achieved a speedy confirmation of our prepackaged Plan, which will enable Audacy to pursue our strategic goals and opportunities in the dynamic audio business.

Sabre Announces Exchange of Approximately $43.6 Million of Existing Senior Secured Notes due in 2025 for Additional 8.625% Senior Secured Notes due 2027

Retrieved on: 
Friday, March 8, 2024

The 2027 Notes issued in the Exchange constitute an additional issuance by Sabre GLBL of the 2027 Notes, of which approximately $853 million was issued on September 7, 2023.

Key Points: 
  • The 2027 Notes issued in the Exchange constitute an additional issuance by Sabre GLBL of the 2027 Notes, of which approximately $853 million was issued on September 7, 2023.
  • The 2027 Notes issued in the Exchange form a single series with, and are fungible with, the existing 2027 Notes.
  • Following completion of the Exchange, the aggregate outstanding principal amount of Sabre GLBL's  7.375% Senior Secured Notes due 2025 is approximately $26.8 million,  the aggregate outstanding principal amount of Sabre GLBL's 9.250% Senior Secured Notes due 2025 is approximately $31.5 million, and the aggregate principal amount of the 2027 Notes outstanding is approximately $903.1 million.
  • Neither Sabre nor Sabre GLBL received any cash proceeds from the issuance of the 2027 Notes pursuant to the Exchange.

Lex Machina Releases 2024 Securities Litigation Report

Retrieved on: 
Thursday, March 7, 2024

MENLO PARK, Calif., March 7, 2024 /PRNewswire/ -- Lex Machina, a LexisNexis company, today releases its annual Securities Litigation Report. The report examines trends in securities litigation in federal district courts and appellate courts. Focusing on the three-year period from 2021 to 2023, it surveys emerging trends in case filings, venues, judges, law firms, parties, timing metrics, case resolutions, findings, and damages. The report often focuses on different sets of data, e.g., filtering cases in order to provide analytics on general securities cases, shareholder derivative suits, class action securities cases, cryptocurrency cases, SPAC cases, and securities appellate cases.

Key Points: 
  • While general securities cases have declined since 2021, shareholder derivative suits, class action securities cases, and cryptocurrency cases increased in 2023 compared to 2022
    MENLO PARK, Calif., March 7, 2024 /PRNewswire/ -- Lex Machina, a LexisNexis company, today releases its annual Securities Litigation Report.
  • The report often focuses on different sets of data, e.g., filtering cases in order to provide analytics on general securities cases, shareholder derivative suits, class action securities cases, cryptocurrency cases, SPAC cases, and securities appellate cases.
  • Surveying the analytics for securities litigation allows us to map what's happening in the courts to external forces that might be driving and influencing patterns of securities litigation."
  • Register here for a copy of the report: https://pages.lexmachina.com/2024-Securities-Report_LP.html
    Lex Machina is hosting a webcast to discuss the report on March 7, 2024 at noon ET/9am PT with Kevin McDonough (Partner at Latham & Watkins), Laura Hopkins (Lex Machina's Legal Data Expert in Securities Litigation), and Aria Nejad (Lex Machina's in-house counsel).