November 19, 2007
FOR IMMEDIATE RELEASE
Thelen's cross-border Asian PIPE practice continues to blossom with 11th Chinese-based deal in 2007; Firm recently ranked among nation's elite PIPE legal advisors by Privateraise.com
'WASHINGTON, DC (November 19, 2007)-Gaining further traction representing a cross-section of Chinese companies looking to access the U.S. financial markets, international law firm Thelen LLP represented Shenzhen-based lithium battery manufacturer China BAK Battery, Inc. in its successful $13.65 million Private Investment in Public Equity (PIPE) offering. The deal closed this past week.
China BAK Battery (Nasdaq: CBAK) is one of the world's largest manufacturers of lithium-based batteries by output. The company produces cells that are the principal component of rechargeable batteries commonly used in a host of digital products, such as cell phones, notebook computers, cordless power tools, and portable consumer electronics. BAK is the largest manufacturer of lithium-ion batteries for China's substantial cell phone battery replacement market.
The BAK transaction is the 11th PIPE deal that Thelen attorneys have advised on for mid-market Chinese companies in 2007. Five of those transactions have been for Shenzhen-based firms. With an office in Shanghai and experienced capital markets lawyers in China and the U.S., Thelen has represented Chinese companies on PIPEs and reverse mergers spanning a diverse range of industries, including security and surveillance, software, manufacturing, minerals, food products, women's apparel, and fertilizers.
Thelen's work was recently recognized by noted capital markets monitor Privateraise.com, which ranked the firm among its elite PIPEs legal advisers for the first time. Through November, Thelen served as issuer counsel on 16 PIPE transactions, with a total value of nearly $243 million raised. The firm had already been ranked the 7th most active PIPE issuer counsel for 2007, according to Privateraise.
Thelen Washington, DC partner Louis Bevilacqua and New York partner Eulalia Mack co-led the transaction team for China BAK. Washington, DC associate Joseph Kaufman and paralegal Andrea Schroepfer also worked on the deal.
"With so many mid-market Chinese companies looking for capital to help fuel their expansion, it's clear that the U.S. capital marketplace is a prime source of investment financing. While much has been made of China's burgeoning IP market, PIPEs transactions have proven to be a particularly useful tool to link Chinese companies with U.S. investors," said Mr. Bevilacqua. "We are pleased that Thelen has become a 'go-to' firm for companies looking to use these and other structures to grow their business, and we look forward to continue growing this practice into 2008."
For more information, contact:
Kevin Livingston
National Manager of Public Relations
Thelen LLP
415.369.7224
klivingston@thelen.com
About Thelen LLP
Thelen LLP is an international law firm with approximately 600 attorneys, and offices in New York, San Francisco, Washington, DC, Los Angeles, Silicon Valley, Hartford, Northern New Jersey, Shanghai, and London. The firm provides superior legal services in complex commercial litigation; corporate and capital markets transactions; project and asset finance; construction; labor and employment; intellectual property; information technology; domestic and international tax; employee benefits; government affairs; and real estate.
Hartford Los Angeles New York Northern NJ San Francisco Shanghai Silicon Valley Washington, DC
Affiliated Sites
www.constructionweblinks.com |
www.technologylawupdate.com |
www.climatelawupdate.com
Copyright ©
