Michael S. Pilo
Michael Pilo is an associate in the securities & public companies group in New York. Prior to joining Ropes & Gray in 2014, Michael worked as a corporate and securities associate in the New York office of an international law firm.
Michael represents public and private companies, investment banks, private equity firms and venture capital funds in diverse public and private equity and debt offerings, including initial public offerings, follow-on offerings, ATMs, block trades, tender offers, high-yield debt offerings, business combinations and other strategic or financing transactions. He also represents public and private companies in connection with M&A transactions, counsels leading investment banks on financial advisory matters and advises private equity institutions and venture capital funds on investments, including special purpose acquisition company (SPAC) investments. Michael regularly advises public companies on securities law compliance, corporate governance and disclosure matters and counsels private companies preparing for public reporting as well as on debt reporting obligations.
- Surgery Partners, Inc. and its sponsor H.I.G. Capital LLC in Surgery Partners’ reorganization and initial public offering
- The lead underwriters in the initial public offerings of
- Quanterix Corporation
- Dimension Therapeutics, Inc.
- Clementia Pharmaceuticals Inc.
- Viamet Pharmaceuticals Corp. (offering withdrawn following completion of road show)
- Connecture, Inc.
- The Habit Restaurants, Inc. and its sponsor KarpReilly, LLC in The Habit’s up-C reorganization and initial public offering
- The lead underwriters in follow-on public offerings, including traditional shelf takedowns, block trades and ATMs, of:
- Idera Pharmaceuticals, Inc.
- Radius Health, Inc.
- Cerulean Pharma Inc.
- bluebird bio, Inc.
- Tyme Technologies, Inc.
- Issuers and selling stockholders in diverse follow-on public offerings, including:
- The Habit Restaurants, Inc.
- The Michaels Companies, Inc.
- Sarepta Therapeutics, Inc.
- Bright Horizons Family Solutions Inc.
- Planet Fitness, Inc.
- A national healthcare alliance in its up-C reorganization and initial public offering
- A regional insurance company in its carve-out initial public offering and subsequent follow-on offering
- The lead underwriters in a secondary follow-on offering of a specialty big box store
- Various issuers and underwriters in IPOs for special purpose acquisition companies (SPACs)
Mergers & Acquisitions
- Surgery Partners, Inc. in its acquisition of National Surgical Healthcare and sale of preferred stock to an affiliate of Bain Capital Private Equity
- H.I.G. Capital LLC in the sale of its controlling interest in Surgery Partners to an affiliate of Bain Capital Private Equity
- Commodity trading brokerages in certain acquisitions, including of a one-third interest in a coal mining joint venture and another commodity futures brokerage
- Publicly listed special purpose acquisition companies and counter-parties in connection with acquisitions, mergers and other business combination transactions
- Surgery Partners, Inc. in two notes offerings
- Change Healthcare Holdings, Inc. in its notes offering in connection with the business combination of Change Healthcare and the majority of McKesson Technology Solutions businesses
- NFP Corp. in its add-on notes offering
- Optimas OE Solutions and its sponsor American Industrial Partners in a notes offering in connection with the LBO of the Anixter Fasteners business
- Covenant Surgical Partners, Inc. in its notes offering
- Investment banks in their capacity as financial adviser in a wide variety of M&A transactions, including in connection with:
- Combination of the beverage alcohol distribution businesses of Sunbelt Holding and Wirtz Beverage Group
- Combination of Zais Financial Corp. and Sutherland Asset Management Corporation
- Sale of Sagent Pharmaceuticals, Inc. to Nichi-Iko Pharmaceutical Co., Ltd.
- Sale of Tobira Therapeutics, Inc. to Allergan plc
- Co-author, “Court more likely to equate deal price with fair value following appropriate sales process,” International Law Office Corporate Finance/M&A Newsletter (May 10, 2017)
- Co-author, “Court again rejects transaction price as best measure of fair value,” International Law Office Corporate Finance/M&A Newsletter (May 10, 2017)
- Co-author, “Risks and Perils of Crowdfunding Your Biotech Start-up,” Genetic Engineering and Biotechnology News (April 1, 2013)