Gray Cary Ware & Freidenrich LLP represented Rae Systems, Inc. (AMEX: RAE) in a $43 million public offering completed on January 23, 2004. More than 10 million shares of common stock were sold. Of that total, approximately 8 million were primary shares offered by the company and approximately 2.1 million were shares offered by existing stockholders.
Peter Astiz, a corporate and securities partner with Gray Cary, is leading the team of attorneys representing Rae Systems, which includes Eric Wang and Steve Davis, both of whom are associates in Gray Cary’s firm’s corporate and securities practice.
Jefferies Quarterdeck, a division of Jefferies & Company, Inc., acted as lead managing underwriter for the offering and Merriman Curhan Ford & Co. acted as co-managing underwriter.
Rae Systems is a leading global developer and manufacturer of rapidly-deployable, multi-sensor chemical detection monitors and networks for homeland security and industrial applications.
Since the beginning of 2003, Gray Cary has assisted clients in 17 significant completed capital markets transactions. The firm assisted clients in five initial public offerings; seven follow-on public equity offerings and five convertible debt offerings.