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MoFo Advises Foxen Holdings on $44 Million Series A Financing

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Morrison Foerster advised Foxen Holdings on its $44 million Series A financing.

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Morrison Foerster advised Foxen Holdings on its $44 million Series A financing.Foxen is a developer of proprietary technology designed to provide mutually beneficial financial services for the advancement of property owners, managers and their residents. The company’s platform offers risk management software, insurance verification and monitoring services which collectively enable successful management of renters insurance requirements at properties and streamlining of product offerings. The funding round was led by growth equity investor Summit Partners, with participation from Level Equity.The MoFo team included San Francisco attorney Michael Glaser, and San Diego attorneys Jim Krenn, Andrew Dixon, Patrick Boyle, and Brooke Maker.

MoFo Advises Foxen Holdings on $44 Million Series A Financing

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Michael Glaser is a partner in the San Francisco office of Morrison Foerster and is co-chair of the firm’s Emerging Companies + Venture Capital Group.Described as “one of the finest venture capital lawyers I have ever worked with” by a client in Chambers USA, Michael offers more than two decades of experience advising innovative startup and investor clients. Michael represents startups from formation through exit in multiple industries, including consumer e-commerce, interactive entertainment, digital media, consumer products, sharing economy, cloud services, on-prem software, fintech, and digital health sectors.Michael has represented startups in hundreds of venture capital transactions, with pre-money valuations ranging from millions to billions of dollars. Michael’s clients have been funded by top tier venture capital firms, such as Sequoia Capital, Greylock, Benchmark, Accel, Andreessen Horowitz, Kleiner Perkins, and Khosla Ventures. Michael also represents his startup clients in M&A deals, and has advised companies in numerous high-value exit transactions with leading serial acquirers.Michael is an industry thought-leader and has served on the Model Document Working Group for the National Venture Capital Association (NVCA), the Corporate Committee of the Business Law Section of the State Bar of California, and the ABA Working Group on Legal Opinions. Michael also has significant business management experience. Prior to joining Morrison & Foerster, he co-chaired another international law firm’s largest practice group, with ten subgroups, over 300 lawyers, and a P&L in the hundreds of millions.<h4>Selected Exit Transactions</h4><ul><li>Represented AddLive in its sale to Snap (NYSE: SNAP).</li><li>Represented Applifier in its sale to Unity Technologies (NYSE: U).</li><li>Represented Candywriter in its sale to Stillfront Group.</li><li>Represented Cloudup in its sale to Automattic.</li><li>Represented CourseRank in a merger with Chegg (NYSE: CHGG).</li><li>Represented Freeverse Inc. in its sale to ngmco.</li><li>Represented GlobalMotion Media Inc. (publisher of EveryTrail.com) in its sale to Trip Advisor (Nasdaq: TRIP).</li><li>Represented Hackpad in its sale to Dropbox (Nasdaq: DBX).</li><li>Represented Jambool in a merger transaction with Google Inc. (Nasdaq: GOOG).</li><li>Represented Liquid Audio (Nasdaq:LQID) in its sale of technology assets to Microsoft (Nasdaq:MSFT).</li><li>Represented PullString in its sale to Apple (Nasdaq: AAPL).</li><li>Represented Rupture.com in an acquisition by Electronic Arts (Nasdaq: ERTS).</li><li>Represented Snapcentric in its sale to Verisign (Nasdaq:VRSN).</li><li>Represented TenMarks in its sale to Amazon (Nasdaq: AMZN).</li><li>Represented Wondery in its sale to Amazon (Nasdaq: AMZN).</li></ul>

Michael Glaser

Co-Chair of Emerging Companies + Venture Capital Practice

Jim has extensive experience representing private and public companies and investors in significant business transactions from formation through liquidity. His practice focuses on mergers and acquisitions, venture capital financings, and emerging company counseling. His clients span a broad range of industries, including biopharmaceutical, artificial intelligence, medical device, e-commerce, cybersecurity, software, Internet, social media, semiconductor, unmanned vehicles, AgTech, consumer products, finance, Cleantech, and energy.Jim advises clients on private and public acquisitions on both the buy-side and sell-side across numerous transaction structures, including equity purchases, asset purchases, mergers, acquisitions and divestitures with transaction values of divisions and subsidiaries, cross-border transactions, and auctions. He has represented buyers and sellers in acquisitions and divestitures ranging from the low millions to over $1 billion.Jim counsels emerging and established life sciences and technology companies in equity financings and general corporate matters, and angel, corporate, and venture capital investors in investments in such companies. He has represented clients in over $2 billion in equity and debt financings ranging from seed rounds to $100 million-plus later-stage rounds.In addition, Jim represents public companies in public offerings, other capital markets transactions, and SEC reporting and compliance matters, and advises boards of directors on corporate governance issues.Jim serves on the Board of Directors of the San Diego Entrepreneurs Exchange.<h4>Rankings</h4><ul><li>California: Recognized as Best of the Bar – San Diego Business Journal 2015</li></ul><h4>Mergers + Acquisitions</h4><ul><li>ACEA Biosciences. Represented this medical instruments company in its sale to Agilent Technologies (NYSE: A) for $250 million.</li></ul><ul><li>Adicet Bio. Represented this biopharmaceutical company focused on the development of novel off-the-shelf universal immune cell therapies in its merger with a wholly-owned subsidiary of resTORbio (NASDAQ: TORC) to create a combined publicly-traded biotechnology company.</li><li>Alaska Energy & Resources Company. Represented this parent company of a regulated electric utility in Alaska in its $170 million sale to Avista (NYSE: AVA).</li><li>Astute Medical. Represented this medical diagnostic company focused on high-risk medical conditions and diseases in its $90 million sale to bioMérieux (EPA: BIM).</li><li>B. Riley Financial (NASDAQ: RILY). Represented this diversified financial services company in its $53 million private placement and merger with investment banking firm B. Riley & Co.</li><li>Biotix. Represented this private equity-backed developer and manufacturer of laboratory consumables and liquid handling solutions in its sale to Mettler-Toledo (NYSE: MTD) for an undisclosed sum.</li><li>California Cryobank. Represented this private equity-backed leader in reproductive tissue donor services and stem cell banking in multiple acquisitions.</li><li>Clean Energy Fuels (NASDAQ: CLNE). Represented this provider of natural gas as an alternative fuel for vehicle fleets in its sale for up to $180 million of components of its renewable natural gas business to BP (NYSE: BP).</li><li>Cogent (NASDAQ: COGT). Represented this biometric identification solutions provider in its $943 million sale to 3M (NYSE: MMM).</li><li>Deere & Company (NYSE: DE). Represented this agricultural, construction, and forestry machinery corporation in its announced acquisition of the precision planting unit of Monsanto (NYSE: MON) for an undisclosed sum.</li><li>Dosatron International. Advised a leading technology solutions provider of water powered dosing pumps and systems in North America, as well as its related company Dilution Solutions, in connection with their sale to Ingersoll Rand (NYSE:IR).</li><li>Mentor (NYSE: MNT). Represented this leading supplier of medical products for the global aesthetic market in its $1.12 billion sale to Johnson & Johnson (NYSE: JNJ).</li><li>Mitchell International. Represented thisdeveloper of smart technology solutions that simplify and accelerate claims handling, repair processes, and pharmacy transactions in its acquisition of Cogent Works for an undisclosed sum.</li><li>MyChem. Represented this provider of proprietary, ultra-pure nucleotides in its sale to Maravai (NASDAQ: MRVI) for $240 million at closing with the potential for additional contingent consideration based on achievement of certain conditions after closing.</li><li>Protomer Technologies. Represented this biotechnology company in its sale to Eli Lilly and Company (NYSE: LLY) with a potential value of over $1 billion with successful achievement of future development and commercial milestones.</li><li>Rakuten Medical. Represented this biotechnology company developing a new class of precision targeted oncologic drugs in its acquisition of Medlight SA for an undisclosed sum and its acquisition of key assets and manufacturing technology from Li-Cor Biosciences for an undisclosed sum.</li><li>Safebuilt Insurance Services. Represented this managing general agent that utilizes a proprietary, intelligent distribution channel to provide the full continuum of insurance products in its sale to Integrated Specialty Coverages for an undisclosed sum.</li><li>Sequlite Genomics. Represented this next generation sequencing company in its cross-border sale to an affiliate of Fapon Biotech Inc., a leading reagent supplier based in China, for an undisclosed sum.</li></ul><ul><li>Wavestream. Represented this provider of high-power solid-state amplifiers in its $137 million sale to Spacenet, a subsidiary of Gilat Satellite Networks (NASDAQ: GILT).</li></ul><h4>Venture Financings</h4><ul><li>Western Digital Capital. Represented this entityas an investor in multiple equity financings, including investments in Hightail and Upthere.</li></ul><ul><li>9amHealth. Represented this provider of virtual diabetes care in its $4 million Series Seed financing and $16 million Series A financing.</li></ul><ul><li>ACEA Biosciences. Represented this developer of cell analysis instrumentation technologies in its $30 million Series E Preferred Stock financing.</li><li>Adicet Bio. Represented this biopharmaceutical company focused on the development of novel off-the-shelf universal immune cell therapies in its Series A financing of up to $51 million, and $80 million Series B financing.</li><li>Astute Medical. Represented this medical diagnostic company focused on high-risk medical conditions and diseases in over $200 million of equity and debt financings.</li><li>California Cryobank. Represented this private equity-backed leader in reproductive tissue donor services and stem cell banking in multiple equity and debt financings.</li><li>Carlsmed. Represented this developer of personalized surgical plans and devices in its $10 million Series A financing and $30 million Series B financing.</li><li>Forward Ventures. Represented this entity as an investor in multiple equity financings, convertible debt financings, and M&A transactions, including transactions involving HemaQuest Pharmaceuticals, LigoCyte Pharmaceuticals, Ambit Biosciences, and Syndax Pharmaceuticals.</li><li>Foxen. Represented this provider of financial technology solutions for the real estate industry in its $44 million Series A financing.</li><li>Greenoaks Capital Partners. Represented this entity and its affiliates as investors in over $100 million in equity financings, debt financings, and secondary transactions, including Coupang and several other prominent e-commerce companies.</li><li>Oak Investment Partners. Represented this entity as an investor in multiple equity financings, including MobiTV and Brit Media.</li><li>OrbiMed. Represented this entity as an investor in multiple equity financings.</li><li>Petuum. Represented this artificial intelligence and machine learning software infrastructure provider in its $93 million Series B financing.</li><li>Rakuten Medical. Represented this biotechnology company developing a new class of precision targeted oncologic drugs in over $700 million of debt and equity financings.</li><li>RA Capital. Represented this entity as an investor in multiple equity financings.</li><li>Solarflare Communications. Represented this provider of application-intelligent networking I/O software and hardware platforms in over $200 million of equity and debt financings.</li><li>VoloAgri. Represented this agriculture technology company focused on seed genetics in over $150 million of equity financings.</li></ul>

Jim Krenn

Partner

Andrew Dixon is a corporate associate in the firm's San Diego office.Andrew represents clients across a wide range of Corporate matters, including general corporate, transactional and securities matters, mergers and acquisitions, and public and private offerings. Andrew’s representation of companies spans the entire corporate life-cycle, from formation to exit, and a diversity of industries and includes clients of all sizes, ranging from a single founder to large public companies.Andrew was previously a Summer Associate and Corporate Associate in our San Diego office, until his departure in 2018. Prior to re-joining the firm, Andrew served as Counsel for an international manufacturer and retailer and a boutique corporate law firm.Andrew received his J.D. with honors from The University of Chicago Law School, where he was a John M. Olin Student Fellow in Law and Economics. He also participated in The University of Chicago Corporate Lab: Transactional Clinic and was a member of The Federalist Society. Andrew received his B.A. magna cum laude in history from the University of Dallas, where he was a recipient of the Louis J. Lekai award.

Andrew Dixon

Associate

Pat Boyle is an associate in the San Diego office of Morrison Foerster.Pat advises public and private companies and private equity firms on a wide range of corporate matters, including mergers and acquisitions, venture capital financings, capital markets transactions, and corporate governance.Prior to joining the firm, Pat was an associate at another global law firm, where he advised public and private companies and private equity firms on a wide variety of complex business transactions.Pat earned his J.D., magna cum laude, from the University of Illinois College of Law, where he was an associate editor of the University of Illinois Law Review.

Patrick Boyle

Brooke Maker is a Corporate Associate in Morrison & Foerster's San Diego Office.Brooke’s practice is focused on representing public and private companies and investors in corporate and securities matters. She regularly advises clients on a variety of transactions, as well as general corporate matters.Brooke received her J.D. from Duke University School of Law, where she served as Staff Editor for the Duke Journal of Constitutional Law and Public Policy. While in law school, she operated as a legal intern for the Environmental Division of the North Carolina Department of Justice. She received her B.A. summa cum laude from the University of Pennsylvania, where she majored in political science.

Brooke Maker

Emerging Companies + Venture Capital