July 19, 2023
In the current equity capital markets environment, offerings that avoid significant dilution can be advantageous. ATM offering programs provide public companies an efficient means of raising capital over time by allowing them to tap into the existing trading market for their shares on an as-needed basis. Rights offerings allow public companies to raise capital while offering all current shareholders the opportunity to participate equally, thereby allowing shareholders to avoid dilution when trading prices are relatively low.
Please join Gibson Dunn attorneys Boris Dolgonos, Brian Lane, Melanie Neary, and Robyn Zolman in a 60-minute briefing as they discuss recent developments in the uses and structures of ATM programs and rights offerings, including mechanics, advantages and disadvantages, securities law implications and disclosure requirements.
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PANELISTS:
Robyn Zolman is Partner-in-Charge of the Denver office of Gibson, Dunn & Crutcher, where she practices in the firm’s Capital Markets and Securities Regulation and Corporate Governance practice groups. She advises clients with respect to SEC-registered and Rule 144A offerings of investment grade, high-yield and convertible notes, as well as initial public offerings, follow-on equity offerings, at-the-market equity offering programs, PIPE offerings and issuances of preferred securities. Ms. Zolman also regularly advises clients regarding securities regulation and disclosure issues and corporate governance matters, including Securities and Exchange Commission reporting requirements, stock exchange listing standards, director independence, board practices and operations, and insider trading compliance.
Boris Dolgonos is a partner in the New York office of Gibson, Dunn and Crutcher and a member of the Capital Markets and Securities Regulation and Corporate Governance Practice Groups. Mr. Dolgonos has more than 25 years of experience advising issuers and underwriters in a wide range of equity and debt financing transactions, including initial public offerings, high-yield and investment-grade debt offerings, leveraged buyouts, cross-border securities offerings and private placements. He also regularly advises U.S. and non-U.S. companies on corporate governance, securities laws, stock exchange rules and regulations and periodic reporting responsibilities. Mr. Dolgonos has represented public and private companies, investment banks and other financial institutions and sovereign entities in transactions across North and South America, Europe, Asia and Africa.
Brian Lane, a partner with Gibson, Dunn & Crutcher, is a corporate securities lawyer with extensive expertise in a wide range of SEC issues. He counsels companies on the most sophisticated corporate governance and regulatory issues under the federal securities laws. He is a nationally recognized expert in his field as an author, media commentator, and conference speaker. Mr. Lane ended a 16 year career with the Securities and Exchange Commission as the Director of the Division of Corporation Finance, where he supervised over 300 attorneys and accountants in all matters related to disclosure and accounting by public companies (e.g. M&A, capital raising, disclosure in periodic reports and proxy statements). In his practice, Mr. Lane advises a number of companies undergoing investigations relating to accounting and disclosure issues.
Melanie Neary is an associate in the San Francisco office of Gibson, Dunn & Crutcher. She currently practices in the firm’s Corporate Department. Ms. Neary’s practice is focused on capital markets transactions and mergers & acquisitions and includes representation of clients in connection with corporate governance and Exchange Act reporting matters. Ms. Neary received her J.D. from the University of Michigan Law School in 2016, where she was the Managing Editor of the Michigan Business & Entrepreneurial Law Review. While in law school, Ms. Neary worked in the Transactional Lab and Clinic, advising large organizations around the country and small organizations in the Ann Arbor community on transactional matters.
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