Tag Archives: Public Securities

SAM Client Resonant Announced $7.5 Million Private Placement

Resonant Stubbs Alderton & Markiles’ client Resonant, Inc. (NASDAQ: RESN) a designer of filters for radio frequency, or RF, front-ends that specializes in delivering designs for difficult bands and complex requirements, announced that it has entered into a definitive agreement with an affiliate of Longboard Capital Advisors, LLC, an existing stockholder of Resonant to raise gross proceeds of $7.5 million. Congratulations on this success!

To read the full press release click here.

Stubbs Alderton attorneys representing Resonant in this transaction were John McIlvery and Nick Feldman.

Resonant is creating software tools and IP & licensable blocks that enable the development of innovative filter designs for the RF front-end, or RFFE, for the mobile device industry. The RFFE is the circuitry in a mobile device responsible for the radio frequency signal processing and is located between the device’s antenna and its digital baseband. Filters are a critical component of the RFFE that selects the desired radio frequency signals and rejects unwanted signals and noise. For more information, please visit www.resonant.com.

For more information about our Public Securities practice, contact John McIlvery at jmcilvery@stubbsalderton.com



Stubbs Alderton & Markiles Attorneys Represent Vitesse Semiconductor Corporation in its Sale to Microsemi Corporation

vitesse homepageStubbs Alderton & Markiles, LLP announces that it represented client Vitesse Semiconductor Corporation (Nasdaq: VTSS) in its successful sale to Microsemi Corporation (Nasdaq: MSCC).  Microsemi acquired Vitesse through a cash tender offer and follow-on merger at a price of $5.28 per share, for a total transaction value of approximately $389 million.  SAM Attorneys John McIlveryJonathan Friedman and Daniel Kim represented Vitesse in this transaction that closed at the end of April.

For more information about the Public Securities Practice of Stubbs Alderton & Markiles, LLP, contact John McIlvery at (818) 444-4502 or jmcilvery@stubbsalderton.com

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Heidi Hubbeling
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(310) 746-9803


SAM Client Vitesse Semiconductor Corporation to be Acquired by Microsemi Corporation


SAM Client Vitesse Semiconductor Corporation has announced that it has reached an agreement to be acquired by Microsemi Corporation for $389 million, furthering a drive toward consolidation in the semiconductor industry.

Vitesse, which has headquarters in Camarillo, CA, designs a diverse portfolio of high-performance semiconductors, application software, and integrated turnkey systems solutions for Carrier, Enterprise and Internet of Things (IoT) networks worldwide.

Based in Aliso Viejo, CA, Microsemi offers a comprehensive portfolio of semiconductor and system solutions for communications, defense & security, aerospace and industrial markets.

Stubbs Alderton & Markiles’ attorneys John McIlvery and Jonathan Friedman are representing Vitesse in this pending transaction.

For more information about our Public Securities practice, contact John McIlvery at (818) 444-4502 or jmcilvery@stubbsalderton.com.


SAM Public Securities Group Boasts Two Public Offering Deals in June


Stubbs Alderton & Markiles, LLP’s Public Security Practice has had a successful June, closing two public offering deals in the first half of the month.

SAM advised client Resonant Inc. in its initial public offering of 3,105,000 shares of common stock at a price to the public of $6.00 per share.  The deal closed June 3, 2014.  To read the Stubbs Alderton press release, click here.

SAM also advised client Vitesse Semiconductor Corporation (Nasdaq VTSS) in an underwritten public offering of 8,582,076 shares of its common stock at a price to the public of $3.35 per share.  The offering closed on June 17, 2014.  To read the Stubbs Alderton press release, click here.

For more information about our Public Securities Practice, contact Partner John McIlvery at (818) 444-4502 or jmcilvery@stubbsalderton.com


SEC News Flash From Stubbs Alderton & Markiles, LLP – SEC Clarifies That Social Media Outlets Can Be Used For Company Announcements If Investors Are Alerted

On April 2, 2013, the Securities and Exchange Commission (SEC) issued a report (Report of Investigation) on its investigation of Netflix, Inc. (Netflix) and its CEO, Reed Hastings (Hastings), which clarifies the SEC’s position that companies can use social media outlets like Facebook and Twitter to disseminate material, non-public information in compliance with Regulation FD so long as companies first alert investors about which social media will be used for this purpose.

The SEC’s Division of Enforcement had investigated whether Netflix and Hastings violated Regulation FD when Hasting’s used his personal Facebook page, on July 3, 2012, to announce that Netflix had streamed 1 billion hours of content in the month of June.  Netflix did not otherwise publicly disclose this information to investors.  Neither Hastings nor Netflix had previously used Hasting’s Facebook page to announce Netflix metrics, nor were investors alerted that Hastings’ personal Facebook page might be used for this purpose.  Netflix’s stock price rose considerably following the announcement.

In its Report of Investigation, the SEC concluded that its August 2008 Guidance on the Use of Company Web Sites (2008 Guidance), though largely focused on the use of web sites, its equally applicable to current and evolving social media channels of corporate communication.  As discussed in the 2008 Guidance, companies must take steps sufficient to alert investors and the market to the web sites, social media outlets and other communication channels the company will use to disseminate material, non-public information.

A copy of the SEC’s news release can be found here.

A copy of the SEC’s Report of Investigation can be found here.

A copy of the SEC’s 2008 Guidance can be found here.

For further information about the use of social media outlets to disseminate company announcements, contact John McIlvery, Public Securities Group Chair, at jmcilvery@stubbsalderton.com or (818) 444-4502.


JOBS Act Update: SEC Delays Fund Marketing Vote

The SEC has missed the 90-day deadline to implement the rules as required by the JOBS Act and delayed for a week its consideration of new rules to lift the ban on general advertising for private securities offerings.  The JOBS Act reduces a variety of securities regulations to help smaller companies more easily raise capital.  To view the full Reuters article, click here.

For more information regarding our Public Securities Practice, please contact John McIlvery at (818) 444-4502 or jmcilvery@stubbsalderton.com