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This market trends article identifies cybersecurity risk disclosures that offer detailed discussions on the potential reputational, financial, or operational harm resulting from cybersecurity breaches and the potential litigation or regulatory costs, policies, and procedures in addressing cybersecurity risks. This article concludes with practical advice on how to prepare and enhance the required disclosures on cybersecurity…

An “at-the-market” (“ATM”) offering is an offering of securities into an existing trading market for the securities at a price or prices related to the then-market price of the securities. ATM offerings are continuous offerings, and provide issuers with a flexible way to raise modest amounts of capital with minimal market impact, at a low…

This market trends article identifies disclosures related to U.S. Tariff Policies that offer detailed discussions on the actual and potential effects for the particular registrants and concludes with recommendations on how to enhance disclosures relating to the effects of U.S. Tariff Policies. The company name, its industry, and the type of filing are also provided…

This article, published in the Lexis Practice Advisor Journal, discusses capital markets and securities law in the time of COVID-19, which started in late 2019 and impacted the whole world in a matter of months, and explains how the U.S. Securities and Exchange Commission (SEC) responded to address the effects of the pandemic, particularly on…

During periods of market volatility, PIPE (private investment in public equity) transactions become an important financing alternative.  During the financial crisis, financial institutions and other companies relied on PIPE transactions to raise significant capital.  For example, in 2007, approximately $65.7 billion was raised in PIPE transactions, while in 2008, approximately $120.9 billion was raised.  The…

In the midst of the economic downturn caused by the COVID-19 pandemic, companies facing liquidity issues may consider a rights offering. A rights offering provides a company’s stockholders an opportunity to subscribe for additional shares, which may serve to limit dilution and be better received by existing holders than other financing alternatives. In this What’s …

This Lexis Practice Advisor practice note discusses reopenings of debt securities issuances. Companies frequently raise capital by issuing additional debt securities of the same series as debt securities outstanding under an existing indenture, often referred to as “reopening the indenture” or “reopening the series.”

Read the full article here.

This Lexis Practice Advisor practice note provides 10 practice tips that can help you as counsel to an issuer seeking to engage in a liability management transaction. Given recent market volatility, issuers in a wide range of industry sectors may now be evaluating potential liability management transactions, including debt repurchases, tender or exchange offers and…

The article, part of the Thomson Reuters Practical Law Global Guides to Debt Capital Markets Law and Equity Capital Markets Law, examines the various exemptions available for the resale of restricted and control securities under the US Securities Act of 1933 (as amended), the conditions applicable to the use of these exemptions and other relevant…

This Lexis Practice Advisor First Analysis article discusses the amendments adopted by the U.S. Securities and Exchange Commission to the accelerated filer and large accelerated filer definitions in Rule 12b-2 under the Securities Exchange Act of 1934 (17 CFR 240.12b-2). The final amendments are intended to reduce the number of issuers that qualify as accelerated…