Public to Private & SPAC Transactions in the Backdrop of Covid-19

Tags: @thedeal and @thedealnewsroom
Come please join us on Feb 10-11 for the Deal UK Virtual Annual Conference. It is complementary to attend.
I will be moderating the 13:30 GMT / 8:30AM ET panel

As the financial markets continue to deal with the global pandemic, and volatile valuations across both public and private markets, many companies have been forced to look inward and explore options to stabilize their businesses. The combination of reduced share prices, record-low (UK – delete) interest rates and private equity sponsors with an abundance of dry powder to deploy has shifted the investment landscape from a pre-Covid seller’s market to a buyer’s market.  This shift has resulted in an uptick in public-to-private activity.  On the other end of the spectrum, companies are exploring SPAC transactions which are being launched by private equity sponsors. SPACS, which are designed to take companies public without going through the traditional IPO process, and allowing retail investors to invest inhigh growth companies earlier in their growth life cycle while providing private equity and venture firms an alternative exit strategy.  This panel will examine what is driving these trends, what the pros and cons, risks, and due diligence practices companies and sponsors should keep in mind when considering these transactions.

Exploring ESG With Purpose

 

Link: https://www.thedeal.com/events/corporate-sustainability-seminar-2021/

When it comes to environmental, social and governance issues, what is the right mission and purpose for a corporation in 2021? Should companies be held responsible not only for their financial performance, but their successes or failures on environmental and social issues as well? How can positive change be achieved and measured at the governance level?  How can companies institute ESG initiatives with a purpose, and not just perception? Moderator: Kyle Fox, Partner, KRF Capital Panelist:  Elisa Davis, Associate General Counsel and Assistant Secretary, Adtalem Global Education Panelist:  Patricia Lizarraga, Managing Partner, Hypatia Capital Panelist: James Rogers, Chief Legal Officer, Cars.com Panelist:  Eric Sibbern, Senior Partner and Managing Director, Veraison Capital AG Panelist:  Julia Thompson, Partner, Latham & Watkins LLP

Keisuke Ramen King

I am working with Keisuke to help a national Ramen chain.  We aim to raise an initial $5m in convertible notes and then a series at  $15-$20m.  We have mapped out over 20 locations in NY and LA where the initial launch is planned.

 

Overview

Chef Keisuke Takeda is the founder of Ramen Keisuke, the largest ramen chain in Singapore. His Tonkotsu ramen has attracted a cult-like following. He was the winner of the 2011 Tokyo Ramen Championship, where he competed against a field of 30,000 chefs. Chef Keisuke currently operates 23 outlets in Japan and 21 outlets in Singapore. In late 2019, the Singapore Airlines announced a collaboration with Chef Keisuke that let passengers choose from four Ramen Keisuke specialty dishes on rotation for six months as part of their “Book the Cook” service.

Investment Opportunity

Currently, small “mom-and-pop” ramen shops operate inefficiently, and few of these businesses serve high quality ramen. Our client has partnered with Chef Keisuke to bring his world-class ramen, along with business efficiencies and consistent quality, to other parts of the world, starting with North America.

The new joint venture, Keisuke Ramen King, aims to offer authentic, delicious, and consistent high-quality ramen selections developed by a well-regarded chef over multiple locations by integrating technology and leveraging operational efficiencies.

  • Authentic Ramen Selections: standard offerings will be Chef Keisuke’s signature Tonkotsu broth ramen, lobster broth ramen, vegetarian ramen, and gluten-free ramen
  • Adoption of Technology: use of mobile applications and self-serving kiosks reduce labor costs while driving engagement and data analytics to optimize business development and strategy
  • Deploy Operational Efficiencies: use of centralized kitchen, automated equipment, specialized take-out packaging, minimal overhead/skilled labor, and three core distribution channels (ramen bar/stall, grab & go, third party food delivery services)

Our client has been an operator in the food and beverage space for over a decade with two successful exits. Keisuke Ramen King is his dedicated and primary business venture for the foreseeable future.

We are working on identifying a strategic partner to fund a $[5]m early seed investment (“Project King”) with another $[15-20]m in a follow-on round.

Boundless

Boundless sets the Industry gold standard to measure Impact.  ESG focused, we are a frontier data and analytics provider to three fast growing industries.  Science based impact measurements consistently achieves results.  Faster commercialization of technologies which results in shorter fundraising timelines and Independent and conflict free. THE ONLY analysis that provides investors with a clear understanding of

climate and business risks in a company’s supply chain.

Intersect Diagnosis

For anyone who has had a direct or indirect personal encounter with cancer or disease, which is almost everyone, the momentum around the promise of precision medicine is both significant and palpable.

A solution in a disruptive technology.

A new-to-market class of disruptive testing technologies now allow simultaneous detection of dozens of biomarkers at single-cell resolution integrated with morphological and spatial context and are designed to enable the next generation of precision medicine discoveries. Intersect Diagnostics aims to be the leading CRO supporting biopharma companies in unlocking the biomarker signatures for their drug development programs. Through design, optimization, validation, and deployment of proprietary assays on these new instruments, our goal is to help advance drug development candidates toward regulatory approval.

 

mHeart

mHeart is a patient-initiated triage and early detection mobile health (mHealth) solution which transforms the evaluation of “chest pain” by enabling patients to triage themselves wherever they may be. With mHeart, cardiac and non-cardiac patients can rapidly and accurately determine if their “chest pain” warrants emergent vs. elective treatment without having to engage a clinician as the first point of contact or a hospital’s emergency department (ED).  As more people, including clinicians, use mHealth apps as a primary source of information, wearable devices and mHealth apps among patients suffering from chronic diseases have emerged as promising tools for health conditions management. mHeart is a patient initiated triage and early detection mHealth solution comprising a novel wearable device, the vEKG, a cell phone app and the mHeart cloud that together will enable patients to rapidly and accurately triage themselves for “chest pain” wherever they may be. https://www.dropbox.com/s/f23hh8vepj5yp8c/Video%20May%2011%2C%204%2030%2043%20PM.mov?dl=0