Sidley represented venture-investment-firm Northpond Ventures in its add-on PIPE investment in Telesis Bio Inc., which focuses on molecular biology automation solutions for multi-omic and synthetic biology applications. The financing agreement is with a syndicate of healthcare-focused investors that will provide initial upfront funding of US$28.0 million to Telesis Bio through a private placement of redeemable convertible preferred stock. The private placement also includes warrants that would provide Telesis Bio with up to another US$46.2 million in proceeds.
The Sidley team was led by partners Stephen B. Ballas (M&A) and Frank Rahmani (Emerging Companies and Venture Capital), and includes Ryan M. Hicks and Ghadah Alotaibi (Private Equity), George J. Vlahakos (Capital Markets), Katie Klaben (Securities Enforcement and Regulatory), and Rachel D. Kleinberg (Tax).
