Milbank LLP Corporate Finance and Securities partner Adam Brenneman recently spoke on Practising Law Institute’s (PLI) Private Placements and Hybrid Securities Offerings panel, which examined the evolving legal and market landscape for private placements and hybrid securities transactions.
Mr. Brenneman joined a distinguished group of speakers, including Stuart Fishman of JPMorgan and Alex Herman of Paul Hastings, moderated by Anna Pinedo of Mayer Brown.
The panel offered an in‑depth overview of the regulatory framework for exempt offerings, including developments stemming from the 2021 amendments, updates to the accredited investor definition, and changes affecting Rule 506, demo day exceptions and integration rules.
The program also addressed current dealmaking trends and key documentation and negotiation considerations across late‑stage and pre‑IPO private placements, PIPE transactions, Section 4(a)(2) debt offerings, Rule 144A transactions, registered directs and other capital‑raising structures.