San Francisco – May 10, 2021 – As the capital markets saw record deal flow in the first quarter of 2021, Cooley has continued its leadership position in partnering with innovative companies and top-tier investment banks this year. Cooley’s capital markets practice again earned #1 rankings across several key categories and industries, advising issuers and underwriters on many of the most impactful initial public offerings year to date.
According to Refinitiv, Cooley ranked #1 for issuer-side global and US equity and equity-related offerings across all industries. In addition, according to Deal Point Data, Cooley kept its #1 spot for advising on issuer-side IPOs by operating companies, as well as its #1 ranking for VC-backed IPOs by operating companies.
Cooley sustained its dominance in the tech and healthcare sectors, where the firm’s capital markets team led on some of the most notable IPOs of the year thus far, including issuer-side representations on Coupang’s $4.55 billion IPO, the largest listing of a non-US company since Alibaba in 2014 and one of the top 25 listings of all time based on deal size; UiPath’s $1.54 billion IPO; DigitalOcean’s $776 million IPO; Olo’s $518 million IPO; The Honest Company’s $475 million IPO; Instil Bio’s $368 million IPO; and Design Therapeutics’ $276 million IPO. The team also represented the underwriters on Sana Biotechnology’s $676 million IPO and Olink Holdings’ $406 million IPO.
Additionally, Cooley advised clients on a wide range of follow-on offerings, including those involving innovation leaders like Zoom, Twilio, Opendoor, Futu, Invitae and argenx. The debt finance team also kept busy, advising on several note offerings by companies such as Snap, Twilio, Ionis and Shake Shack.
While holding its position as a top firm for traditional offerings, Cooley also serves as a destination practice for high-profile and complex deSPAC transactions. The capital markets team advised on several notable deals, including bank representation in Grab’s record agreement with Altimeter Capital’s SPAC, which valued the Singapore-based company at approximately $40 billion; and advising BowX Acquisition Corp. on its agreement to merge with WeWork; Archer Aviation on its agreement to merge with Atlas Crest Investment; Metromile on its agreement to merge with INSU Acquisition Corp. II; and Supergroup on its agreement to merge with Sports Entertainment Acquisition Corp.
Cooley has been the #1 law firm advising companies going public across all industries since 2014 and the #1 law firm for venture-backed IPOs across all industries for 15+ years, according to IPO Vital Signs and PitchBook. In 2020, the firm earned a three-time Capital Markets Practice Group of the Year distinction by Law360 and was named one of the decade's top IPO legal advisers by Bloomberg Law.
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