In the first quarter of 2025, a multi-office Reed Smith U.S. capital markets team, led by Global Corporate Group partner Anthony Marsico, represented key firm clients, including a leading full-service middle-market investment bank and its affiliate, and a seasoned, sophisticated private investor, in four separate equity capital markets transactions providing equity capital financing for publicly traded companies in the biopharmaceutical, AI, renewable energy and technology sectors.
The team advised B. Riley Securities and its affiliate in connection with a $50-million committed equity financing facility for Actuate Therapeutics, Inc. (NASDAQ: ACTU), a clinical-stage biopharmaceutical company developing therapies for cancers with high unmet medical need.
The team also acted as counsel to B. Riley Securities in connection with its at-market-issuance sales agreement with MultiSensor AI Holdings, Inc. (NASDAQ: MSAIW), a leading provider of a full-stack, AI-driven predictive maintenance solution that enhances operational efficiency and safety, under which the company may elect to sell its common stock to or through B. Riley Securities, acting as the company’s sales agent, in sales that constitute at-the-market offerings under applicable federal securities laws.
The third transaction involved the team's representation of B. Riley Securities and its affiliate in connection with a $30-million committed equity financing facility for AirJoule Technologies Corp. (NASDAQ: AIRJ). AirJoule Technologies is a pioneer in atmospheric renewable energy and water harvesting technology that offers a sustainable and scalable solution to global challenges.
Finally, the team advised Lincoln Park Capital Fund, LLC, as sole investor, in connection with a $75-million committed equity financing facility for Netlist, Inc. (OTCMKTS: NLST), a designer and manufacturer of high-performance memory subsystems.
The team's success in these four deals reflects its deep experience in a variety of structured and other types of equity capital markets transactions, as well as its strong, long-standing relationships with firm clients B. Riley Securities and Lincoln Park Capital.
Marsico received invaluable support on all four U.S. capital markets transactions from a multi-office team consisting of the following Reed Smith Global Corporate Group attorneys: Van Vu, Marisa Rametta, Lan Deng, Peter Emmi, Frank Wei, A.J. Wissinger, Sarah Thompson Schick, Sarah Lee, Alfred Ouyang and Madison Old.
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