Taylor L.Stevens

Partner

San Diego + 1.858.314.1151 Silicon Valley + 1.650.739.3939

As a practitioner with an M.B.A., and an active participant in the San Diego and Silicon Valley communities, Taylor Stevens has a strong understanding of the legal issues facing high-growth companies and their acquirors. Taylor has advised clients for more than 20 years in the areas of venture capital transactions, M&A, and capital markets transactions. His practice is focused on the representation of emerging growth and established technology and life sciences companies. He has extensive experience in the full life cycle of the company, from formation through financing and exit transactions.

Taylor has represented clients in a significant number of public and private company mergers and acquisitions. His experience includes auction sales, divestitures, carve-outs, roll-ups, and cross-border transactions. Taylor also regularly counsels emerging growth companies on a broad range of venture capital and debt financing transactions and has been recommended as a leading lawyer by Best Lawyers in America and The Legal 500 United States for his corporate and venture capital practice. He additionally represents venture capital firms and strategic corporate investors in connection with their investments in early stage and emerging growth companies.

Taylor is a member of the Springboard Committee and has previously served on the Executive Committee and the board of directors of CONNECT, a globally recognized trade organization fostering the creation of innovative technology and life sciences products in the San Diego region. Taylor also frequently presents on legal topics at events, including the Goldman Sachs 10KSB Legal Conference and Koch Disruptive Technology Venture Capital Investment Seminar.

Experience

  • Western Digital sold ActiveScale™ business to QuantumJones Day advised Western Digital Corporation's subsidiary Western Digital Technologies, Inc. in the sale of its ActiveScale™ business to Quantum Corporation.
  • Western Digital invests in Esperanto Technologies Inc.Jones Day advised Western Digital in its investment in Esperanto Technologies Inc., a developer of high-performance, energy-efficient computing solutions for artificial intelligence and machine learning applications.
  • Western Digital sells IntelliFlash™ business to DataDirect Networks, Inc. (DDN®)Jones Day advised Western Digital Corp. in the sale of its IntelliFlash™ business to DataDirect Networks, Inc. (DDN®), a global leader in artificial intelligence (AI) and multi-cloud data management.
  • Western Digital acquires Kazan NetworksJones Day advised Western Digital Corporation (NASDAQ:WDC) in its acquisition of Kazan Networks Corp., a provider of industry leading NVMe™-over-Fabric (NVMe-oF) ASIC and adapter products for next-generation data center architectures.
  • Koch Disruptive Technologies leads investment in Ibotta at $1 billion valuationJones Day advised Koch Disruptive Technologies ("KDT"), an investment firm dedicated to investing in emerging high-growth technologies across a range of industries, on its investment in Ibotta, Inc., the leading mobile rewards platform in the United States.
  • KKR completes investment in OneStream SoftwareJones Day advised Kohlberg Kravis Roberts & Co. L.P. in connection with its investment in OneStream Software LLC, a leading provider of cloud or on-premise Corporate Performance Management solutions for mid-sized to large enterprises, in a transaction that values the privately held company at more than $1 billion.
  • Western Digital invests in CodasipJones Day represented Western Digital, a leading provider of storage technologies and solutions that enable people to create, leverage, experience, and preserve data, in connection with its investment in Codasip GmbH, the leading supplier of RISC-V® embedded processor IP.
  • Sempra Energy unit PXiSE Energy completes equity financing with Mitsui & Co.Jones Day advised Sempra Energy in connection with the issuance by its subsidiary, PXiSE Energy Solutions, LLC, of up to a 20 percent equity investment to Mitsui & Co., Ltd., as well as the negotiation and entering in of a strategic collaboration agreement for the development and sale of PXiSE's technology.
  • Investor participates in $100 million Series C financing round of RefleXion MedicalJones Day represented a health care investor in connection with the $100 million Series C Preferred Stock financing of RefleXion Medical, a medical technology company developing the first and only biology-guided radiotherapy system (BgRT) for targeted cancer treatment.
  • Mercato Partners invests in Salt StackJones Day represented Mercato Partners, as lead investor, in connection with a $15.5 million Series A Preferred Stock financing in Salt Stack, Inc., an intelligent orchestration software provider.
  • Koch Disruptive Technologies leads $150 million investment in INSIGHTECJones Day advised Koch Disruptive Technologies, a subsidiary of Koch Industries, Inc. focused on finding and funding innovative and emerging companies, as the lead investor in a $150 million Series E funding round for INSIGHTEC, a commercial stage medical device company.
  • Western Digital acquires Tegile SystemsJones Day represented Western Digital, a leading provider of storage technologies and solutions that enable people to create, leverage, experience, and preserve data, in connection with its acquisition of Tegile Systems, Inc., a developer of flash and persistent-memory storage solutions for enterprise data center applications.
  • Western Digital acquires Upthere, Inc.Jones Day advised Western Digital in its acquisition of Upthere, Inc., a leading developer and producer of cloud storage technology.
  • Hookit raises capital in Series C roundJones Day represented Hookit, a leading sponsorship analytics and valuation platform, in connection with the sale and issuance of $16 million of Series C Preferred Stock and concurrent tender offer to the holders of its junior preferred securities.
  • Celularity acquires certain assets from TNK TherapeuticsJones Day advised Celularity Inc. in connection with its acquisition from TNK Therapeutics of certain intellectual property rights related to TNK's proprietary chimeric antigen receptor ("CAR") constructs and related CARs.
  • Celularity raises capital in Series A roundJones Day represented Celularity Inc., a biotechnology company that sources and develops transformative therapies derived from the placenta, in connection with its issuance of Series A Convertible Preferred Stock in a private placement to strategic and entrepreneurial investors.
  • Western Digital invests in UPMEMJones Day represented Western Digital, a leading provider of storage technologies and solutions that enable people to create, leverage, experience, and preserve data, in connection with its purchase of Series A Preferred Stock in a private placement by UPMEM, a fabless semiconductor company developing next generation hardware solutions for data intensive applications in the datacenter.
  • Stance raises capital in $30 million Series D roundJones Day represented Stance, Inc., a premium apparel company, in connection with its issuance of $30 million of Series D Preferred Stock in a private placement.
  • Stance raises capital in $50 million Series C roundJones Day represented Stance, Inc., a designer, manufacturer, and distributor of unique socks dedicated and branded to individuality and expression, in connection with its issuance of $50 million of Series C Convertible Preferred Stock in a private placement led by August Capital and Kleiner Perkins Caufield & Byers.
  • The following represents experience acquired prior to joining Jones Day.

    Selected Venture Capital Transactions

    Represented Forward Ventures in connection with the $41,600,000 investment in Series C Preferred Stock of CancerVax Corporation.

    Represented Cell Biosciences in its sale and issuance of $27,000,000 of Series B Preferred Stock.

    Represented investors in connection with the $35,000,000 investment in Series E Preferred Stock of Digital Chef.

    Represented Eve.com in its sale and issuance of $25,500,000 of Series C Preferred Stock.

    Represented investors in connection with the $30,000,000 investment in Series B Preferred Stock of Everspin Technologies.

    Represented investors in connection with the $34,000,000 investment in Series E Preferred Stock of Hightail, Inc.

    Represented Hookit in its $15,000,000 Series C Preferred Stock financing, together with other convertible note and equity financings.

    Represented Kanisa Pharmaceuticals in its sale and issuance: of $25,000,000 of Series A Preferred Stock and of $6,000,000 of Series B Preferred Stock.

    Represented Kestrel Solutions in its sale and issuance of $55,500,000 of Series C Preferred Stock.

    Represented Oak Investment Partners and NEA in connection with the $125 million resale of preferred stock of LianLian Pay to American Express.

    Represented Oak Investment Partners in connection with the $25,000,000 investment in Series C-1 and C-2 of Preferred Stock of MobitTV.

    Represented investors in connection with: the $18,000,000 investment in Series D Preferred Stock of Nexenta Systems and the $30,000,000 investment in Series F Preferred Stock of Nexenta Systems.

    Represented NovaRx Corporation in connection with its sale and issuance: of $4,200,000 of Series B Preferred Stock, of $8,700,000 of Series C Preferred Stock, and of $33,000,000 of Series D Preferred Stock.

    Represented Santarus in its sale and issuance of $55,100,000 of Series D Preferred Stock.

    Represented Stance in connection with its sale and issuance of Series A Preferred Stock, Series B Preferred Stock, and Series C Preferred Stock.

    Represented SolarFlare Communications in its sale and issuance of $43,000,000 of Series A-1 Preferred Stock.

    Represented Winklevoss Capital in its investment in Series A Preferred Stock of SumZero.

    Represented investors in connection with: the $35,000,000 investment in Series C Preferred Stock of Tegile and the $55,000,000 investment in Series D Preferred Stock of Tegile.

    Represented Oak Investment Partners in connection with the $20 million investment in Series B Preferred Stock of Yoyi Media.

    Selected Capital Markets Transactions

    Represented SG Cowen, Piper Jaffray, Legg Mason Wood Walker, and Needham & Company as underwriters in the $44,000,000 initial public offering of Anadys Pharmaceuticals.

    Represented Credit Suisse First Boston, SG Cowen, Piper Jaffray, and Needham & Company as underwriters in the $71,300,000 follow-on public offering of Anadys Pharmaceuticals.

    Represented CIBC World Markets and Lehman Brothers as underwriters in proposed $80,000,000 initial public offering of CRL Network Services.

    Represented Digirad Corporation in its $66,000,000 initial public offering with Merrill Lynch & Co., JP Morgan, Banc of America Securities, and William Blair & Company as underwriters.

    Represented Endocare in its $78,200,000 follow-on public offering with UBS Warburg, Bear Sterns & Co., Banc of America Securities, Harkness & Hill, Inc., and Gerard Klauer Mattison as underwriters.

    Represented Kana Software in its $56,900,000 initial public offering with Goldman Sachs & Co., Hambrecht & Quist, and Wit Capital Corporation as underwriters.

    Represented Kana Software in connection with its $125,000,000 common stock PIPE transaction.

    Represented Banc of America Securities, Lehman Brothers, Thomas Weisel Partners, and William Blair & Company as underwriters in the $82,000,000 initial public offering of NuVasive.

    Represented Santarus in its $54,000,000 initial public offering with SG Cowen, UBS, Thomas Weisel Partners, and RBC Capital Markets as underwriters.

    Represented JP Morgan, Piper Jaffray, Bear Stearns & Co., and Cowen & Company as underwriters in: the $62,560,000 initial public offering of Volcano Corporation and the $139,000,000 follow-on public offering of Volcano Corporation.

    Represented JP Morgan, Banc of America Securities, Piper Jaffray, and Bear Stearns & Co. as underwriters in the $131,000,000 follow-on public offering of Volcano Corporation.

    Represented Bear Sterns & Co., Hambrecht & Quist, BancBoston Robertson Stephens, and Wit Capital Corporation as underwriters in the $303,600,000 follow-on public offering of Xoom.com.

    Represented Merrill Lynch & Co., Deutsche Banc Alex Brown, Thomas Weisel Partners, and Wit Capital Corporation as underwriters in the $104,400,000 initial public offering of ZapMe! Corporation.

    Selected M&A Transactions

    Represented Kana Software in connection with: its $4,100,000,000 acquisition of Silknet; its $140,000,000 acquisition of Business Evolution; its $90,000,000 acquisition of netDialog; its $90,000,000 acquisition of Broadbase Software; and its $75,000,000 acquisition of Connectify.

    Represented Live Nation in connection with its $350,000,000 acquisition of House of Blues Entertainment.

    Represented Solarflare Communications in connection with: its $100,000,000 acquisition of Level 5 Networks and its divestiture of its PHY business unit.

    Represented Wavestream Corporation in connection with its $145,000,000 acquisition by Gilat Satellite Networks.

    Represented RealAge, Inc. in connection with its $90,000,000 acquisition by Hearst Communications.

    Represented Eclipse Therapeutics in connection with its acquisition by Bionomics Limited.

    Represented Deere & Company in connection with its acquisition of T-Systems International.

    Represented Kratos Defense & Security Solutions in connection with: its $90,000,000 acquisition of Haverstick Consulting; its $70,000,000 acquisition of Madison Research Corporation; and its $56,000,000 acquisition of Digital Fusion.

    Speaking Engagements

    • October 30, 2019
      Koch Disruptive Technology Venture Capital Investment Seminar
    • November 2, 2016
      Goldman Sachs 10KSB Legal Conference
    • March 2015
      Surf Industry Manufacturers Association (SIMA) Emerging Brands Conference
    • March 2014
      Surf Industry Manufacturers Association (SIMA) Emerging Brands Conference
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