O’Melveny represented Targus in a complex refinancing of the company’s existing credit facilities. The refinancing involved two components - a US$185 million secured term loan with Goldman Sachs Lending Partners LLC, as administrative agent and collateral agent, and a syndicate of lenders, and a US$60 million asset-based multicurrency revolving credit facility with Bank of America, N.A., as agent and lender.
O’Melveny represented ArcSoft in its Series C Round financing backed by investors Tudor Ventures and Intel Capital. The aggregate investment amount of the financing is US$20 million.
O'Melveny represented Alta Partners the acquisition of Taligen Therapeutics, Inc., a privately held development-stage biotechnology company based in Cambridge, Massachusetts, by Alexion Pharmaceuticals, Inc. The acquisition was completed with an upfront cash payment of US$111 million for 100 percent of Taligen's equity interests. Additional contingent payments would be earned upon reaching various clinical efficacy and product approval milestones in both the US and European Union for up to six products.
O'Melveny represented Sanofi-Aventis SA and the BiPar Innovation Center in its investment in KAHR Medical Ltd. (Kahr), a portfolio company of Hadasit Bio Holdings Ltd. that is developing protein-based drugs for autoimmune diseases and cancer. Under the agreement, Hadasit will own 65 percent of Kahr, and Sanofi-Aventis will own 18 percent of the company and will have first rights to negotiate to buy Kahr's leading product.
O’Melveny represented Celsion an oncology drug development company, in two transactions; a US$6.6 million registered direct offering and the sales of an aggregate of US$18.4 million of the company's securities.
O’Melveny is representing Microsemi in its US$548.7 million hostile bid for Ottawa-based Zarlink Semiconductor Inc. Microsemi initially made two private offers to Zarlink's executives, valuing the company's shares at US$3.25 and US$3.55 per share, that were rejected. Microsemi is now appealing directly to Zarlink’s shareholders.
O'Melveny represented Apache Design Solutions, Inc., a provider of power analysis and optimization software solutions in the electronic design automation sector, in signing a definitive agreement to be acquired by ANSYS, Inc. for the purchase price of approximately US$310 million in cash. The transaction is expected to close in the third calendar quarter of 2011 and is subject to customary closing conditions and regulatory approvals. After the closing, Apache will become a wholly owned subsidiary of ANSYS.
O'Melveny represented Yahoo! Inc. in its acquisition of IntoNow, a fast-growing technology company that has developed a platform and companion television application based on real-time indexing of television that allows users to share their favorite television programming with other users via social media channels. The deal marked the fourth acquisition handled for Yahoo! in the last two years.
O’Melveny represented Morgan Stanley, BofA Merrill Lynch, and J.P Morgan, as representatives of the other underwriters, in the underwriting of a public offering of 5,865,000 shares of common stock of AvalonBay Communities, Inc. (NYSE), a major apartment owner and developer in the US.
O’Melveny represented Lookout in its US$30 million Series D financing with investments from Andreessen-Horowitx, Index Ventures, Accel Partners, and Kholsa Ventures.
O’Melveny represented Foundation 9 Entertainment in the sale of its subsidiary, Griptonite, Inc. to Glu Mobile. (Brophy/July)
BNP Paribas. O’Melveny represented BNP Paribas as administrative agent and lender in connection with the amendment of Schoolhouse Furniture’s credit facilities.
O’Melveny represented Strava in its US$12.6 million Series B financing, with investments from Sigma Partners and Madrone Partners.