X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
For a handful of Silicon Valley securities lawyers, the last weeks of August meant some fast preparation work on two initial public offerings. San Jose-based Tessera Technologies Inc. filed its IPO documents Sept. 4 and Fremont-based Synnex Information Technologies Inc. filed documents Friday. Allison Leopold Tilley, a Pillsbury Winthroppartner who represents Synnex, was floored when her client called mid-summer with plans to do an IPO. “I said, ‘Wait, let me look up what those letters mean,’” Tilley said. Tilley hadn’t done an IPO since 2001. And while she said the hiatus from the frenzy of tech boom deal-doing was nice, so was getting back to work. Synnex manufactures custom-made electronics components for computer makers. The company is hoping to raise $92 million in the offering. Backing up Tilley were partners Jorge del Calvoand Davina Kaile. Associates Blair Waltersand Rebecca Peterslent an assist. Skadden, Arps, Slate, Meagher & Flomis representing the lead underwriter, Bear, Stearns & Co. Inc. That deal team comprises partner Gregory Smithand associate Nicole Morath, both from Skadden’s Palo Alto office. San Jose-based Tessera, which makes special packaging for high-tech components, is seeking $75 million in its IPO. Robert Koenig, a Latham & Watkinspartner who represented Tessera, said the printer was jumping with activity after a long deal dry spell. “As opposed to being the only team at the printer, this last time felt a bit like 2000 again,” Koenig said. “There’s definitely an air of excitement.” Koenig lead the Tessera team at Latham with partner Patrick Pohlen. The team included associates Holly Bauer, Christopher Jaap, Nicholas O’Keefe, R. Brandon Tidwelland Mona Wang. William Hinman, a partner at Simpson Thacher & Bartlettin Palo Alto, is representing Lehman Brothers Inc., the lead underwriter. APPLIED MICROCIRCUITS/ JNI CORP. San Diego chipmaker Applied Micro Circuits Corp. has tapped into its cash reserves to purchase JNI Corp. for approximately $190 million. “From a legal standpoint it’s a relatively straightforward deal,” said Scott Stanton, a partner in Gray Cary Ware & Freidenrich’sSan Diego office who represented JNI in the transaction. “From a business standpoint it’s interesting, as it shows AMCC is diving into a new market place” and diversifying from the telecom chip business. Applied Micro Circuits manufactures silicon integrated circuits used to transport voice and data over fiber-optic networks while San Diego-based JNI manufactures connectivity products for enterprise data centers. Lawyers working on the transaction also had to factor in the securities litigation pending against JNI. Gray Cary lawyers representing JNI in the stock-drop suits helped in the negotiations. “That was an important focus of due diligence,” Stanton said. Applied Micro Circuits had to “figure out if there was too much risk for the deal to make sense. They decided to go forward with that risk.” Under the terms of the agreement, Applied Micro Circuits will pay $7 per share in cash for each outstanding share of JNI common stock, a total of approximately $190 million, and will assume all outstanding JNI employee stock options. In addition to Stanton, the Gray Cary team included San Diego partners Christopher Smithand Robert Brownlie, East Palo Alto partner Diane Frankleand associates December Greeneand Laura Sand. Applied Micro Circuits was represented by Paul, Hastings, Janofsky & Walker. Carl Sanchez, a partner in the firm’s San Diego office, led the team, which also included of counsel Deyan Spiridonovand David Burns, litigation partner William Sullivanand associates Alexander Lee, Stephen Harris, Claudia Simonand Colleen Huschke.

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at [email protected]

 
 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.