Media Mentions
2010
Peter Townshend was quoted by the San Diego Union-Tribune on March 7, in a story that discussed the drop in venture capital investment funding since 2007. “The consensus is that we’ll be seeing some underperforming venture funds going under this year and next,” Mr. Townshend said about the ongoing decline. He added that if the economy doesn’t improve, “you could see pension funds, which are the biggest backers of venture capital, decide that they’re not worth the risk, and that would be a true catastrophe for the venture market.” Mr. Townshend also noted that proposals for large companies like pharmaceuticals to step into the funding gap would not work in such other fields as telecom or software.
Peter N. Townshend, Corporate, Life Sciences - Corporate
Peter Townshend reviewed current trends in the financing of technology companies in a March 2 San Diego Union-Tribune article. “Things are looking better than last year,” he said about credit conditions, “but that’s not saying much.” Mr. Townshend expressed his belief that “we hit bottom last year and are probably on our way up” in terms of startup financing, adding that “for exceptional companies this might be one of the best times to get funding,” because “these days the VCs [venture capitalists] are eager to fund a good company.”
2009
Peter Townshend spoke to the Silicon Valley/San Jose Business Journal about his use of the Twitter social networking tool. “It’s a fantastic way to keep up with clients on a personal level – to know what’s going on in their lives,” he said. Mr. Townshend advises private equity investors and emerging technology companies. The story notes that neither McDermott nor other major law firms have fashioned specific guidance on the use of social media.
Peter N. Townshend, Corporate, e-Business, Intellectual Property
2008
Peter Townshend and George Colindres co-authored an article in BioPharm International, published April 1, entitled, "Trends in Convertible Note Financing for Biotechs." The article discusses the differences between convertible note financings and traditional preferred stock financings, discusses the high stakes of note financings and highlights the complexity of their terms. To view the entire article click here.
George Colindres, Peter N. Townshend, Corporate
2007
Peter Townshend was quoted in the November issue of Entrepreneur Magazine regarding whether the recent viability of IPOs is an indication that boom times from past years have returned. "The market is good--it's not great, [but] it's not frothy," commented Mr. Townshend. He also added, "Good companies that make sense and are meeting their milestones are able to go public and sustain themselves."
Peter N. Townshend was quoted on April 24 by Reuters in an article discussing the trend of accelerated negotiations by private equity firms in the mergers and acquisitions market. In an effort to try and beat opponents in the auction process, private equity bidders are giving high offers and securing the deal well before the bidding deadlines. "The question of whether to take an early bid or go through a complete auction is really a game of chicken for both sides," said Mr. Townshend. "If you go through the whole auction, bidders run the risk that others will outbid them. Meanwhile, if the target completes the whole process and the other offers don't turn out as high as they or Wall Street had expected, the company runs the risk that the early, high bid could disappear," Mr. Townshend added.
Peter N. Townshend, Corporate, Mergers & Acquisitions, Private Equity
