McGuireWoods Advises Underwriters in IPO and Follow-on Public Offering

July 15, 2021

McGuireWoods advised underwriters in two recent public offerings that showcased the firm’s deep securities and capital markets capabilities and its industry-focused approach to client service.

The firm advised ThinkEquity, a division of Fordham Financial Management Inc., as underwriter in a $28.75 million initial public offering of common stock by TransCode Therapeutics Inc. The transaction closed on July 13, 2021.

ThinkEquity is a boutique investment bank created by experienced professionals who have collectively financed over $50 billion of public and private capital raises, restructurings, and mergers and acquisitions. TransCode Therapeutics is an emerging RNA oncology company. Its lead therapeutic candidate is focused on treating metastatic cancer, which causes approximately 90 percent of all cancer deaths, representing over 9 million deaths per year worldwide.

The deal’s closing followed the firm’s representation of longtime client B. Riley Securities Inc. (formerly National Securities Corp.) as underwriter in a $13.5 million follow-on public offering of common shares by Manhattan Bridge Capital Inc., a New York-based real estate finance company that specializes in originating, servicing and managing a portfolio of first mortgage loans.

McGuireWoods New York partner Stephen Older and Charlotte partner Rakesh Gopalan and counsel David Wolpa led both deal teams, which included Richmond partner Anitra Cassas and associate Jessica Barrera and Charlotte associate Giles Beal. All are members of the firm’s Securities & Capital Markets Department. Healthcare partner Kate Hardey in Charlotte and associate Royce DuBiner in Chicago assisted with regulatory analysis on the TransCode IPO.

“The TransCode IPO once again demonstrates our firm’s capabilities in complex securities offerings, including initial public offerings and underwriter-side work, as well as our depth of knowledge in the healthcare and FDA regulatory space,” Older said. “The Manhattan Bridge Capital transaction shows our ability to put together a team to tackle a fast-moving transaction in a short time frame. We have a number of other IPOs in the pipeline and see a strong pipeline on both the issuer and underwriter side.”

McGuireWoods consistently ranks among the leading law firms for advising corporate issuers and underwriters in U.S. capital markets transactions and has earned global recognition for its work representing clients in corporate and securities matters.