Insights on Capital Markets

Schiff Hardin advised CNS Pharmaceuticals, Inc. in connection with its public offering of 5,750,000 shares of common stock and 2,875,000 warrants to purchase common stock for gross proceeds of $11.5 million.

Schiff Hardin advised Isleworth Healthcare Acquisition Corp. in connection with its initial public offering of 20,700,000 units at a price to the public of $10.00 per unit.

University of Richmond School of Law

Schiff Hardin LLP acted as counsel to the placement agent in ZW Data Action Technologies, Inc.’s registered direct offering of more than 5.2 million shares of common stock at $3.59 per share and the concurrent private placement to the same investors of warrants to purchase up to 2,606,000 shares of common stock at an exercise price of $3.59 per share.

Schiff Hardin LLP advised Dawson James Securities, Inc. as underwriter in GT Biopharma, Inc.’s Nasdaq up-listing offering of 4.3 million units.

Schiff Hardin LLP acted as counsel to the placement agent in Senmiao Technology Limited’s registered direct offering of more than five million shares of common stock at $1.38 per share for aggregate gross proceeds of $7 million.

Schiff Hardin LLP advised Moleculin Biotech, Inc. in connection with its public offering of 16,414,736 shares of common stock for gross proceeds of approximately $78 million.

Schiff Hardin LLP acted as counsel to the placement agent in connection with CBAK Energy Technology, Inc.’s $70 million registered direct offering priced at-the-market under applicable Nasdaq rules.

Schiff Hardin LLP served as counsel to the placement agent in Blue Hat Interactive Entertainment Technology’s registered direct offering of over seven million shares at a price of $1.06 per share, resulting in total gross proceeds of $7.59 million.

Schiff Hardin LLP counseled the placement agent in China Natural Resources, Inc.’s registered direct offering of approximately $7.3 million of common shares at a price of $1.85 per share on January 22, 2021.

Schiff Hardin LLP acted as counsel to the placement agent in connection with CBAK Energy Technology, Inc.’s registered direct offering of approximately $49.2 million of common stock at a price of $5.18 per share.

On November 2, the U.S. Securities and Exchange Commission (SEC) adopted final rules relating to the modernization and harmonization of the private offering framework. These rules were initially proposed on March 4, 2020, and were adopted with few changes based on comments received.

Schiff Hardin advised Good Works Acquisition Corp. in connection with its initial public offering of 15 million units of securities at $10 per unit.

Schiff Hardin LLP is pleased to announce that 59 attorneys have been listed in the 2021 edition of The Best Lawyers in America, with six attorneys also being named a “Lawyer of the Year” in their respective areas of practice and location.

In its most recent effort to mitigate adverse effects of the COVID-19 pandemic on U.S. securities markets and to ease issuers’ access to capital, the NASDAQ Stock Market implemented a temporary exception from its shareholder approval requirements through June 30, 2020, effective immediately.

In continuation of the comprehensive nationwide regulatory effort to mitigate adverse effects of the COVID-19 pandemic on U.S. capital markets and ensuing market volatility, the NASDAQ Stock Market has proposed listing rule changes designed to ease the compliance burden.

In anticipation of the raft of earnings releases and analyst and investor calls that will take place in the next few weeks, the U.S. Securities and Exchange Commission (SEC) issued a public statement in which SEC Chairman Jay Clayton and Director of the Division of Corporation Finance William Hinman urge issuers to provide robust, forward-looking disclosures regarding the impact of COVID-19 in their upcoming earnings releases and analyst and investor calls.

On March 25, the U.S. Securities and Exchange Commission (SEC) granted public company regulatory relief and issued Staff guidance regarding disclosure obligations in light of the continued complications associated with the COVID-19 pandemic.

The SEC extended its previously granted public company regulatory relief and issued staff guidance yesterday regarding disclosure obligations in light of the continued complications associated with the COVID-19 pandemic.

U.S. Securities and Exchange Commission (SEC) staff announced guidance to assist public companies with facilitating their upcoming annual shareholder meetings during the ongoing COVID-19 pandemic.

The U.S. Securities and Exchange Commission (SEC) issued an order that grants conditional regulatory relief for certain publicly traded company filing obligations in light of the rapidly spreading coronavirus pandemic.

The SEC has announced efforts to assist and guide market participants that may be impacted by the coronavirus. Public reporting companies should confer with their legal advisers regarding disclosure issues that may arise as a result of the global virus.

On June 28, 2018, the Securities and Exchange Commission (SEC) voted to amend the definition of “smaller reporting company” to allow more companies to use the scaled disclosure requirements available to smaller reporting companies.

The arrival of a new year marks the beginning of the annual proxy season. And this year, shareholders can expect to see a lot more climate change disclosure in 2017 corporate financials.