Womble Carlyle’s Mergers & Acquisitions Team strives to help clients take advantage of available opportunities when they arise.
So when market conditions allowed two related start-up Web advertising services companies to sell to an equity group, attorneys Steve Clinton and Kristina Schwartz helped them capitalize. Clinton and Schwartz negotiated and finalized stock sale agreements with the buyer to purchase the two companies for approximately $7 million total.
Womble Carlyle attorneys Jan Baldwin (Employee Benefits), Richard Caira (Intellectual Property) and Mark Wiley (Tax), assisted by reviewing sections of the Stock Purchase Agreement. In addition, Baldwin provided guidance on facilitating phantom stock unit payments to certain employees of the Company. Mike Cashin also assisted by providing tax advice on that part of the deal. Jess Lauten was significantly involved as the paralegal on the transaction.
The two companies both were based in California and controlled by the same entrepreneur. One company is a service provider for companies that advertise online, helping them manage their accounts with ad providers. The other provides compliance monitoring services to Web advertisers.
In order to complete the deals, Clinton and Schwartz had to coordinate efforts with local counsel in Canada, England and Australia, where subsidiaries of one of the sellers are located. Clinton and Schwartz also counseled the sellers through the process of preparing the companies for sale and negotiating and closing a transaction with a larger counterparty.
Steve Clinton concentrates on corporate and securities law, representing a broad range of companies. He has extensive experience in all aspects of corporate transactions and assists clients with the negotiation and consummation of mergers, stock sales, asset acquisitions and other reorganizations. He practices in Womble Carlyle’s Silicon Valley office in Palo Alto, Calif.
Kristina Schwartz advises companies of various market capitalizations and industries in corporate and commercial transactions and general business matters. Her practice focuses on domestic and international mergers and acquisitions, financings, private placements and commercial contracts. She practices in Womble Carlyle’s Greensboro, N.C. office.