Schiff Hardin Advises on Public Offerings in Pharma, Tech Sectors

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Schiff Hardin Advises on Public Offerings in Pharma, Tech Sectors

News Release |

In the last 60 days, Schiff Hardin advised on the initial public offerings (IPO) for two companies and a public offering for another company, two in pharmaceuticals and one in the tech sector.

The firm advised Dawson James Securities, Inc., as placement agents in Sonoma Pharmaceuticals, Inc’s public offering of 1.4 million shares of common stock, raising $4.6 million.  Schiff Hardin then advised ViewTrade Securities, Inc. as the underwriter in Senmiao Technology Limited’s IPO of 3 million shares of common stock, raising $12 million.

Schiff Hardin also advised The Benchmark Company as managing underwriter in Biofrontera AG’s IPO of 1.2 million American depositary shares (ADSs), raising $12 million, and the Nasdaq listing of Biofrontera’s ADSs. The shareholders of the dermatology-focused biotechnology company have pre-emptive rights under German law and Biofrontera’s shares already traded on the Frankfurt Stock Exchange, making this a very complex transaction. The transaction involved side-by-side U.S. and German pre-emptive rights offerings.