The Intelligize Flash — May 26, 2016

Intelligize Flash Report – May 26, 2016.

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Here at Intelligize, we take the title ‘Industry Standard’ seriously. With new reports and information available daily, keeping up with SEC litigation, relevant memos and comment letters, and the happenings of the private and public business sector has become a priority to our users. The Intelligize Flash Report offers you daily highlights in one convenient report, so you don’t miss a beat.

 

M&As

On May 25, 2016, New York Reit, Inc. acquired JBG Companies in a $8.4 billion dollar transaction.  The target company, JBG Companies, was represented by the law firm Hogan Lovells US, LLP with Bank of America Merrill Lynch and Morgan Stanley and Co. LLC as the company’s financial advisers.  The acquiring company, New York Reit, Inc., is a public company incorporated in Maryland and headquartered in New York.  They are members of the real estate investment trusts industry and were represented in this transaction by the law firms Venable LLP and Proskauer Rose LLP.  New York REIT, Inc. is a real estate investment trust. The company focuses on acquiring and owning office and retail properties in Manhattan. The company’s business is primarily conducted through New York Recovery Operating Partnership, L.P. The company owns approximately 20 properties in New York City, which aggregate approximately 3.4 million rentable square feet. The company holds interests in properties of various types, such as office, retail, hotel, parking and storage.

 

IPOs

On May 25, 2016, Greenbacker Renewable Energy Co. LLC filed their S-1 with the SEC for the registered amount of $1.5 billion dollars.  Greenbacker Renewable Energy Co. is an externally managed energy company that acquires and manages income-generating renewable energy and energy efficiency, and other energy-related businesses as well as finances the construction and/or operation of these and sustainable development projects and businesses.  They are managed and advised by Greenbacker Capital Management LLC, a renewable energy, energy efficiency and sustainability related project acquisition, consulting and development company that is registered as an investment adviser with the SEC under the Investment Advisers Act of 1940, as amended. We expect Greenbacker Administration, or entities which have been engaged by Greenbacker Administration, to provide the administrative services necessary for us to operate.

 

Popular Memos

On May 25, 2016, the law firm Wiley Rein & Fielding released the memo Federal Circuit Patent Bulletin: In re Aqua Prods., Inc.  The publication reports that on May 25, 2016, in ‘In re Aqua Prods., Inc.’, the U.S. Court of Appeals for the Federal Circuit affirmed the Patent Trial & Appeal Board decision in an inter parts review of U.S. Patent No. 8,273,183, which related to automated swimming pool cleaners used to filter water and scrub pool surfaces, to deny patent owner Aqua’s motion to substitute claims based on the failure to demonstrate that the amended claims would be patentable over the art of record.

 

SEC Regulatory Affairs

On May 25, 2016, the SEC released and filed the document Order Approving a Proposed Rule Change, as Modified by Amendment No.1 Thereto, to Amend the Eighth Amended and Restated Operating Agreement of the Exchange under the material type/category Regulatory Affairs/SRO Rulemaking with the release number 34-77901.  The document reports that on March 29, 2016, NYSE MKT LLC filed a proposed rule change with the SEC to amend the Eighth Amended and Restated Operating Agreement of the Exchange.  The proposed rule change was published for comment in the federal register on April 12, 2016, however the SEC received no comments in response.  Thusly, this document orders the approval of the proposed rule change.