CLOSEClose Menu

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
The IPO pipeline hasn’t completely closed down. Stanford Microdevices Inc., a Sunnyvale, Calif.-based supplier of radio frequency components used in wireless communications equipment, raised $48 million in its initial public offering of 4 million shares. The shares, priced at $12 on May 24, closed at 15 3/4 in the first day of Nasdaq trading, and at 18 5/8 a week later. Despite the recently shaky market for equities in general and IPOs specifically, the vaulting stock price came as little surprise to Steven Bernard, a partner in the Palo Alto, Calif., office of Wilson Sonsini Goodrich & Rosati who represented Stanford Microdevices in the IPO. “It’s no secret that a lot of IPOs are on hold right now because of the current market. Fewer and fewer deals getting done,” said Bernard. But unlike many of the Internet start-ups waiting to go public, Stanford Microdevices has a multi-year track record of profitability and has been in operation since 1985, said Bernard. “Unlike an Internet company, with the exception of 1999, Stanford Microdevices has been profitable since [at least] 1995,” he said, citing an SEC report. Counting Stanford Microdevices’ IPO, Wilson Sonsini has assisted its clients in raising $9.1 billion through public offerings this year to date. Bernard cited the strong working relationship with Stanford Microdevices extending beyond five years as the reason the company chose Wilson to handle the offering. At the close of the IPO, the major shareholders included Stanford Chairman John Ocampo, treasurer Susan Ocampo and entities affiliated with venture capital firm Summitt Partners. Stanford Microdevices plans to use the proceeds from the IPO for working capital and general corporate purposes. Partner Steven Bochner led the legal team of Bernard and associates Susan Krause, Sacha Ross and Gali Schaham in Wilson’s Palo Alto office. On the underwriters’ side, a team of attorneys from Morrison & Foerster’s Irvine, Calif., office represented Deutsche Banc Alex. Brown, Banc of America Securities Inc., CIBC World Markets and Robertson Stephens. The team included partners Robert Mattson Jr. and Tamara Tate and associates Craig Mordock and Brandon Parris.

This content has been archived.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.