Insights

Choate Ranks Highly in The Legal 500 2021 Guide

The Legal 500 2021 recognized 31 Choate attorneys in their respective fields and 11 practice areas, with education and middle-market M&A receiving Tier 1 rankings.

The Chernin Group Leads $40M Series B Funding Round for The Pro’s Closet

Choate represented The Chernin Group as the lead investor in The Pro’s Closet’s $40M Series B financing round.

Transformation Capital Leads $25M Investment in SWORD Health

Choate represented Transformation Capital as the lead investor in a $25M Series B financing for SWORD Health, an employer-based digital physical therapy company with a focus on musculoskeletal disorders.

New Stimulus PPP Package: What You Need to Know

Late on December 21, 2020, Congress passed its latest stimulus package. The bill expands the Paycheck Protection Program, which was originally established when the CARES Act was enacted earlier this year. Our Private Equity Group summarizes what you need to know about the new stimulus package, including changes for new and existing loans.

Deploying Capital with PIPEs

In the inaugural episode of the Choate Business Insights podcast series, John Pitfield, Dan Riley, and Tobin Sullivan discuss private equity investments in public companies through Private Investment in Public Equity (PIPE) transactions, including the current trends and structure of PIPE transactions.

Surveyor Capital Co-Leads Series B Investment in VelosBio

Choate represented Surveyor Capital (a Citadel company) as co-lead investor in the oversubscribed Series B financing round for VelosBio, a clinical-stage biopharmaceutical company committed to developing novel, first-in-class cancer therapies targeting receptor tyrosine kinase-like orphan receptor 1.

Paycheck Protection Program Flexibility Act Gives Borrowers More Leeway

Just two months after the Paycheck Protection Program (“PPP”) began taking applications, the House and Senate have passed the Paycheck Protection Program Flexibility Act of 2020 (the “Flexibility Act”) aimed at smoothing the way for more borrowers to take advantage of PPP loans and loan forgiveness.

Director Fiduciary Duties: Additional Risks in Times of Financial Distress

In the face of deteriorating financial conditions for a business, directors should revisit the fiduciary duties they owe to the business and be particularly attuned to the question of which parties are the proper beneficiaries of those duties.

SBA Issues Additional Guidance on PPP Forgiveness and Review Processes

The Small Business Administration (SBA) continued its incremental rollout of guidance for borrowers under the Paycheck Protection Program (PPP), with two interim final rules issued on the eve of Memorial Day Weekend.