COVID-19

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During the first quarter of 2020, venture funding levels in the global healthcare and life sciences sector has increased 4% by dollars raised, quarter-over-quarter, despite the turbulent COVID-19 environment. According to a recent CB Insights report, healthcare companies raised $14.6 billion this past quarter in 1,156 deals. Deal volume decreased 6% quarter-over-quarter. The inverse…

On May 20, 2020, the U.S. Senate unanimously approved  bipartisan legislation (the “bill”) that would amend Section 104 of the Sarbanes-Oxley Act of 2002.  The bill would require that Chinese companies that have a class of securities listed or quoted on stock exchanges in the United States could be delisted by such exchanges for, among…

Tech companies at all growth stages are facing capital raising and operating challenges brought about by the global COVID-19 pandemic.  A recent CB Insights client briefing explored these novel business pressures.

To add some perspective, an analysis of earnings calls provided by CB Insights showed that the mentions of “layoffs,” “furloughs” and “hiring freezes” in…

On May 14, 2020, the Securities and Exchange Commission (“SEC”) approved, with immediate effectiveness, a rule filing from the New York Stock Exchange (“NYSE”) granting temporary relief from the shareholder approval requirements under Section 312.03 and 303A.08 through June 30, 2020.  The relief is made available to any NYSE-listed company that would incur a material…

The New York Stock Exchange has filed with the SEC a proposed rule filing to provide for temporary relief through June 30, 2020 from the application of certain shareholder approval requirements under Section 312.03 and 303A.08.  The proposed rules would provide NYSE-listed companies that have been negatively impacted by COVID-19 and that would like to…

On May 12, 2020, Steven Peikin, the Co-Director of the Securities and Exchange Commission’s Division of Enforcement (the “Division”), remotely presented a keynote address at the Securities Enforcement Forum summarizing actions that the Division has taken in connection with the COVID-19 pandemic.  Mr. Peikin emphasized that COVID-19-related enforcement matters are a top priority for the…

As many parts of the United States begin to focus on recovering from the profound impact caused by the COVID-19 outbreak, businesses are looking to minimize the pandemic’s toll on their financial performance. Given the potential magnitude, borrowers and lenders alike should carefully consider the treatment of lost revenues resulting from the coronavirus under both…

PLI Webinar
May 20, 2020
3:00pm – 4:00pm EDT
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The Securities and Exchange Commission approved a rule filing from Nasdaq granting temporary relief from the shareholder approval requirements in respect of certain transactions. Nasdaq has adopted Listing Rule 5336T, which provides for limited relief from Nasdaq Listing Rule 5635(d)…