John Sommerdyke represents start-ups, growing businesses and established companies seeking private placement capital through a variety of securities, including common stock, convertible preferred stock, notes and other forms of debt. He assists these companies in selecting and negotiating with investment bankers or finders, structuring the company and management incentives for investment and growth, preparing private placement memorandums and complying with securities laws, and negotiating the deal terms with potential investors.
John also represents a diverse range of companies in merger, acquisition and divestiture transactions. He previously served as Vice President of Business Development for a medical device manufacturer where his duties included preparing an acquisition strategy, identifying target companies and product lines, communicating with targets and negotiating transaction terms.
John currently serves on the Board of Directors of Salamander Technologies, Inc., eAgile, Inc., Sun Med, LLC, Bay Medical Products, LLC, and Omega Medical Products, LLC and previously served on the boards of Aspen Surgical Products, Inc. and RF Identics, Inc.
Education & Credentials
Education
University of Notre Dame
B.A., 1988University of Michigan Law School
J.D., 1991Acknowledgements
- Best Lawyers in America
- 2014 Grand Rapids Mergers and Acquisitions Lawyer of the Year, Banking and Finance, Mergers & Acquisitions, Private Funds/Hedge Funds Law, 2009-present
- Project Finance Law and Venture Capital Law, 2012-present
- Corporate Counsel & The National Law Journal, 2012 Top Rated Lawyers in Securities
Prominent Assignments
Venture Financing Transactions - Company Representation
Represented a medical device company in a $3 million growth-stage capital raise to fund internal product development and acquisition of additional product lines.
Represented a start-up software company providing internet-based continuing education in a "Seed Stage" private placement and follow-on Series "A", "B" and "C" offerings.
Represented three companies to be funded by members of the Grand Angels, an angel investor group based in Grand Rapids, Michigan made up of approximately 40 business leaders and high net-worth individuals who invest in early stage companies:
- One company develops and markets resource tracking systems used by fire departments, military and other first responders.
- The second is a manufacturer of radio frequency identification tags (RFID).
- The third is an internet solution company for the restaurant industry with a focus on sales to college students.
Venture Financing Transactions - Fund and Investor Representations
Represents investors and investor groups by assisting in the analysis of the investment opportunity, diligence review of the company, and negotiation of the terms of the investment.
- Representing an angel network in a convertible note investment in a consumer products company
- Representing an operating partner and investor in a venture fund/management firm focusing on drug, medical device and other life science innovations
- Representing a life sciences venture fund in a $6 million Series C financing in a developer of molecular and immune-hematology products
- Representing a life sciences venture fund in a Series B financing in a medical device venture fund in a Series B financing in a medical device venture focused on developing new technologies for the treatment of cancer
Represents private equity funds in fund formation matters and in the acquisition of portfolio companies
Merger & Acquisition Transactions
- Sale of a medical device company to a $1 billion private equity fund and representation of fund in subsequent purchases of "tuck-under" companies
- Sale of a water treatment and specialty chemical business to a private equity fund
- Purchase of an advertising agency from a private equity fund
- Multiple purchases of nursing home and senior physical therapy and rehabilitation services businesses
- Sale of radiology products manufacturer to Tyco International conducted by a national investment banker
- Purchase of an international distributor of anesthesia and respiratory products
- Purchase of a wire harness manufacturer by a Chicago-based private equity group
- Purchase of a plastic extrusion manufacturer by a Grand Rapids-based private equity group
- Sale of a medical billing services business to a private equity fund
- Sale of a large machine shop to a publicly traded French company
- Sale of RFID company to a multi-billion dollar revenue public company
- Multiple purchases and sales of office furniture dealers by a publicly traded manufacturer
- Sale of the nation's largest juke box manufacturer out of bankruptcy through an auction process
- Purchase of a medical device manufacturing division from a public company which included a complicated "earn-out' formula for determining the purchase price
- Purchase of a specialty chemical company by a French conglomerate
- Purchase of national consumer brands in a bankruptcy auction
Bank Financing Transactions
Represents financial institutions, as well as borrowers, in commercial lending transactions including negotiating and documenting bank loans.
Professional Involvement
- American Bar Association, Private Equity & Venture Capital Committee
- Grand Rapids Bar Association
- Michigan Venture Capital Association, Member
- MichBio, Member
- Association for Corporate Growth - Western Michigan, Board of Directors
Community Involvement
- Kendall College Foundation, Board of Directors
- Grand Rapids Chamber of Commerce, Former Chairperson, Member Benefits Committee; Former Member, Small Business Committee
- United Way, Volunteer
- Habitat for Humanity, Volunteer
- Inner City Christian Federation, Volunteer
- Salamander Technologies, Inc., Board of Directors
- eAgile, Inc., Board of Directors
- Sun Med, LLC, Board of Directors
- Bay Medical Products, LLC, Board of Directors
- Omega Medical Products, LLC, Board of Directors
Publications/Presentations
- "Destiny Calling? Don't Be Afraid to Answer the Phone," Hot Points, Fall 2011
- "Angel Investors & Devilish Details," Hot Points, Summer 2007