Orrick, Herrington & Sutcliffe LLP has advised SemiLEDs Corporation (Nasdaq:LEDS) on a US$102 million initial public offering on the Nasdaq Global Select Market. The offering, which took place on December 14, 2010, was underwritten by Bank of America Merrill Lynch, Barclays Capital, Jefferies & Company, Canaccord Genuity and Caris & Company.
A team of capital markets lawyers from Orrick’s Hong Kong and China offices, led by partners Mark Lee and Thomas Tobiason, advised SemiLEDs on the U.S. offering. Harold Yu, a partner in Orrick’s Silicon Valley office also assisted on the transaction.
Based in Taiwan, SemiLEDs is a developer and manufacturer of light-emitting diode (LED) chips and LED components. Over the past five years, SemiLEDs has combined extensive semiconductor knowledge with LED technology to create a proprietary system which allows the production of more energy efficient LED chips.
Thomas Tobiason, a partner in Orrick’s Shanghai office and member of the firm’s Emerging Company’s Practice, commented: “There is a growing global awareness of LEDs’ advantages as an energy-efficient and environmentally friendly lighting solution. We have enormous respect for the SemiLEDs team and its achievements. Orrick is privileged to have been able to help our client during an exciting phase of the company’s growth in establishing its new manufacturing facilities here in China as well as raising capital in the United States.”
He added: “Orrick’s strong capital markets track record in Hong Kong, Silicon Valley and New York and our firm-wide energy and technology industry expertise ideally positioned our team to advise SemiLEDs through its expansion in China and its successful U.S. offering.”
Trung Doan, the Chairman and CEO of SemiLEDS stated: “Without Orrick’s team of lawyers, SemiLEDs’ IPO would not have been possible. The firm’s detailed knowledge and close guidance throughout the IPO process allowed us to anticipate and remove all possible road blocks. Orrick prepared us for every stage. I recommend Orrick for people who want a successful IPO.”
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