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Venture Briefing: 'Undercorns' Could Dominate Latest Initial Public Offerings Venture Briefing: 'Undercorns' Could Dominate Latest Initial Public Offerings

Venture Briefing: 'Undercorns' Could Dominate Latest Initial Public Offerings

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'Undercorns' Could Dominate Latest Initial Public Offerings
Being valued at well over a billion dollars means Pinterest has easily surpassed so-called unicorn status, but being valued at less than it was previously means Pinterest qualifies for another, more obscure piece of venture capitalist lingo. A New York Times piece about Pinterest's newest valuation refers to the social media company as an "undercorn."
(Source: Business Insider, 2019-04-09) Read the full article
Record Number of Companies Have Reached Unicorn Status
A record number of U.S. companies reached valuations of at least $1 billion, the level at which private companies attain unicorn status. A total of 147 companies were deemed unicorns, named after the mythical creature because of their rarity, in the first quarter of 2019, according to a MoneyTree report from PwC and industry watcher CB Insights.
(Source: CNET News, 2019-04-08) Read the full article
2018 Brought 784 Mergers and Acquisitions of V.C.-Backed Firms
Buyers are actively looking to purchase businesses across the country. According to The Statistics Portal, there were 784 mergers and acquisitions of V.C.-backed companies in 2018 throughout the country.
(Source: Grand Rapids Business Journal, 2019-04-12) Read the full article
Large Cross-Border M&A Almost Nonexistent in First Quarter
Large cross-border mergers and acquisitions "almost disappeared" in the first-quarter of 2019, according to a new report. In its latest analysis of global M&A, research firm Mergermarket found that only one "mega deal" -- any deal worth more than $10 billion -- was agreed between firms based in different countries.
(Source: CNBC, 2019-04-02) Read the full article
Secondary Buyout Exit Size Doubled to $410 Million in 2018
There is a widening gap between secondary buyout (SBO) and strategic acquisition exit prices in the US. In the span of four years, the median SBO exit size has almost doubled, going from $220 million in 2015 to $410 million last year.
(Source: PitchBook, 2019-04-12) Read the full article
D&O Claims Could Rise as IPOs Disclose Detailed Information
Before companies get listed on a stock exchange, their leadership first has to file a prospectus with the securities commission, which lets potential investors know about detailed information they need to make an informed investment decision, followed by an application for a public listing. Meanwhile, the D&O claims trends that Jennifer Sharkey, Gallagher area executive vice president of insurance and risk management, sees arising from IPOs include disclosure cases and fiduciary responsibility cases.
(Source: Insurance Business Magazine, 2019-04-11) Read the full article
Number of Companies Buying Cyber Insurance Doubles to 38 Percent
Five years ago, not many U.S. companies were buying cyber insurance. But now many have finally decided it might be worth the expense -- at least judging by numbers released by Marsh. The number of all Marsh U.S. clients buying cyber insurance doubled to 38 percent in 2018 from 19 percent in 2014, according to the firm's Cyber Insurance Trends report.
(Source: CFO.com, 2019-04-11) Read the full article
Hospitals See Venture Capital as Way to Test New Technologies
Academic and nonprofit hospitals are increasingly embracing venture capital as a way to test new technologies, a shift away from the traditional reliance on developing in-house intellectual property. Hospitals of all sizes, types and tax status are giving corporate venture capital funds, where they invest directly in companies, a go.
(Source: Healthcare Dive, 2019-04-03) Read the full article
Silicon Valley Losing Young Tech Talent to Other Areas
Silicon Valley is known as the center of tech and innovation, but people in the industry are noticing that its dominance is starting to slip. A recent survey of 300 tech employees in Silicon Valley found that 49 percent said they expected a region outside the San Francisco Bay Area to emerge as a center of innovation.
(Source: Business Insider, 2019-04-05) Read the full article
 
 
 
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Wrongful Acts Insurance Policies and the False Claims Act

Businesses facing potential False Claims Act liability must meet the notice requirements in their applicable “wrongful acts” insurance policies to avoid denials of coverage. Although these notice requirements can only be determined on a policy-by-policy basis, a decision by the United States Court of Appeals for the Sixth Circuit provides a cautionary tale about what not to do when seeking coverage for False Claims Act liability under a wrongful acts policy. Read full article here.

 

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Ice Miller has been one of the most active law firms in the private equity industry over the last decade, representing both entrepreneurs building great companies and the private equity firms and individuals that invest in them.  We have extensive experience with all types of funds (formations and operations); mezzanine and senior secured financing; leveraged buyouts, roll-ups, build-ups, and consolidations; divestitures and exits; and complex litigation on behalf of investors and privately financed companies.  In addition, over the past 10 years, Ice Miller has represented hundreds of emerging growth businesses in various industries on such matters as entity formation, capitalization, capital raising, alternative financing, intellectual property rights and protection, growth and exit strategies, corporate governance, tax matters, and many other legal issues that are critical to the growth and success of an emerging company.

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