Thomas Mark

On February 21, electric vehicle manufacturer Arrival announced that is raising up to $50 million of new equity capital from Willkie client Antara Capital and will also exchange $121.9 million principal amount of convertible notes held by Antara for additional equity in Arrival. Arrival, based in London, is an electric vehicle manufacturer primarily focused on the design and production of vans and buses through local microfactories. Antara Capital is a private investment firm in New York that invests in event-driven opportunities across the capital structure. The Willkie team was led by partners Thomas Mark and Jonathan Kubek and included associate Steven Mikel.

Mar 1

1 min

Willkie advised NanoString Technologies, Inc., a publicly traded company and leading provider of life science tools for discovery and translational research, in connection with its Chapter 11 bankruptcy filing and related sale of its assets to Bruker Corporation, a global life science analytical instrument company, for approximately $392.6 million. On April 17, NanoString announced that Bruker Corporation was selected as the winning bidder in a court-supervised competitive auction process and will acquire substantially all of NanoString’s assets for a cash payment of approximately $392.6 million. The transaction was approved by the bankruptcy court on April 19. NanoString initially entered a stalking horse asset purchase agreement with Patient Square Capital for $220 million, which has now been terminated. NanoString initiated the Chapter 11 restructuring proceeding with support from key creditors on February 4 in the U.S. Bankruptcy Court for the District of Delaware. The company filed for bankruptcy protection following an unfavorable outcome in a patent infringement lawsuit brought by a competitor. The Willkie bankruptcy team is led by partners Rachel Strickland and Debra Sinclair and the corporate team advising on the asset sale is led by partners Thomas Mark and Tyler Born.

Apr 22

1 min

Willkie is advising NanoString Technologies, Inc., a publicly traded company and leading provider of life science tools for discovery and translational research, in connection with its Chapter 11 bankruptcy filing and related sale of its assets to Patient Square Capital. On March 10, NanoString announced that it entered into a stalking horse asset purchase agreement with Patient Square Capital to acquire substantially all of its assets for a cash payment of $220 million. NanoString initiated the Chapter 11 restructuring proceeding on February 4 with support from key creditors. The company filed for bankruptcy protection following an unfavorable outcome in a patent infringement lawsuit brought by a competitor. The Willkie bankruptcy team is led by partners Rachel Strickland and Debra Sinclair and the corporate team advising on the sale of assets to Patient Square is led by partners Thomas Mark and Tyler Born.

Mar 12

1 min

Willkie represented Clovis Oncology, Inc. in the sale of its oncology drug Rubraca (rucaparib) to pharma& Schweiz GmbH in a bankruptcy 363 sale. Clovis Oncology, Inc., a biopharmaceutical company focused on acquiring, developing, and commercializing innovative anti-cancer agents in the U.S., Europe, and additional international markets, initiated a chapter 11 proceeding in December in order to sell its assets through a court-supervised process. The Willkie corporate team was led by partners Thomas Mark and Erin Kinney. The bankruptcy team was led by partners Rachel Strickland and Andrew Mordkoff.

Apr 12

1 min

On December 12, Willkie client Clovis Oncology, Inc., a biopharmaceutical company focused on acquiring, developing, and commercializing innovative anti-cancer agents in the U.S., Europe, and additional international markets, announced that it and certain of its subsidiaries voluntarily initiated a chapter 11 proceeding in the U.S. Bankruptcy Court for the District of Delaware and will seek to sell their assets through a court-supervised sales process. Clovis has received a commitment of up to $75 million in debtor-in-possession financing for the company to operate in the normal course and meet obligations to its employees, vendors and customers throughout the chapter 11 proceeding while executing on the sales process. Prior to the chapter 11 filing, Clovis entered into a stalking horse purchase and assignment agreement with Novartis Innovative Therapies AG to acquire substantially all of the rights of the company to its pipeline clinical candidate, FAP-2286, as a therapeutic agent for an upfront payment of $50 million and up to an additional $333.75 million upon the successful achievement of specified development and regulatory milestones and $297 million in later sales milestones. Clovis is also actively engaged in discussions with a number of interested parties with respect to a potential sale of one or more of its other assets. The Willkie team is led by partners Rachel Strickland, Thomas Mark and Andrew Mordkoff and includes partners Erin Kinney and Daniel Durschlag.

Dec 13

1 min