News & Press Releases

Mintz advised the underwriter in connection with a $75 million underwritten offering by MoonLake Immunotherapeutics of 7,142,857 Class A ordinary shares at an offering price of $10.50 per share. The aggregate gross proceeds to MoonLake Immunotherapeutics from this offering were approximately $75 million before deducting underwriting discounts and commissions and other offering expenses.

Mintz advised the underwriters in connection with Benitec Biopharma’s follow-on public offering of 5,930,000 shares of common stock at a public offering price of $13.50 per share, and the placement agents in the concurrent registered direct offering of 1,481,481 shares of common stock at an offering price of $13.50 per share. The aggregate gross proceeds to Benitec Biopharma from these offerings were approximately $100 million before deducting underwriting discounts and commissions, placement agent fees, and other offering expenses. In addition, Benitec Biopharma granted the underwriters a 30-day option to purchase up to an additional 889,500 shares of its common stock at the public offering price.

Of Counsel Michelle Capezza shared insights with Fiduciary News about the complexities of ERISA fiduciary roles and the distinction between 3(21) advisors and 3(38) investment managers. A 3(21) co-fiduciary advisor provides non-discretionary advice in partnership with the plan committee, who retains the responsibility to make investment decisions, while the 3(38) model delegates true discretion to a 3(38) manager, limiting the committee’s responsibility to the prudent selection and oversight of that manager.

The Bond Buyer featured comments from Retail and Consumer Products Co-chair Charles Samuels in an article about the municipal bond market’s reaction to the end of the federal shutdown. Though an end to the shutdown has been welcomed enthusiastically, Congress faces another funding deadline in January, and challenges still remain, such as uncertainty over a planned vote on Affordable Care Act subsidies.

Law360 published an article written by Intellectual Property Division Chair Michael Renaud, Members Brad Scheller and Michael McNamara, and Associate Stephen Chen about how postponing the identification and documentation of trade secrets until litigation is underway can lead to costly losses even before summary judgment. In the article, the attorneys analyze two recent appellate decisions that highlight the need for specificity, secrecy, and evidentiary proof at a level of detail that typically requires preparation of documentation and alignment of strategy well in advance.

Member Steven Shparber was quoted in a Law360 article about how PJM Interconnection, the nation’s largest regional grid operator, may face increased pressure to give states a formal role in its policymaking following the election of New Jersey and Virginia governors. Both governors-elect campaigned on energy affordability and have criticized PJM for its lack of transparency and contribution to high energy costs.