Latham Advises PrimaryBid on Innovative Directed Share Platform

Latham & Watkins has advised PrimaryBid Technologies Inc., a leading capital markets fintech firm, on the implementation of its technology in DSP2.0, an advanced Directed Share Platform (DSP) that delivers a modern and streamlined approach to equity program management for companies looking to raise capital in the US market, offered by SoFi Technologies, Inc. (NASDAQ: SOFI), a member-centric, one-stop shop for digital financial services that helps members borrow, save, spend, invest, and protect their money.

DSPs allow companies to allocate a portion of their offering to specific individuals or groups, typically employees, customers, and other stakeholders. Until now, these solutions have often required manual processing, lacked features and functionality, and limited investor participation to a select few. SoFi's DSP2.0 brings equity program management, IPO, and follow-on offering processes into the digital age. It also gives issuers enhanced flexibility when it comes to the capital raise process by enabling companies to involve non-institutional investor groups at scale.

The Latham team was led by New York partners Adam Gelardi, Stephen Wink, and Jenny Cieplak, with counsel Naim Culhaci and associate Samantha Daisy. Advice on UK corporate matters was provided by London partner James Inness.