Orrick has advised Japan-based FRONTEO, a publicly traded global technology company, in its JPY2.5 billion ($22 million) offshore issuance of bonds with stock acquisition rights. The convertible bonds were issued to Whiz Healthcare Japan 2.0 Investment LP, which specializes in investments in biotechnology and healthcare related companies. Whiz Healthcare is managed by Whiz Partners Inc., a prominent independent private equity firm in Japan.
FRONTEO is a provider of information analytical services, including solutions for big data, by using its uniquely developed artificial intelligence engine. Its shares are listed on both the Tokyo Stock Exchange and Nasdaq.
A transpacific Orrick team advised FRONTEO consisting of Hiroshi Sarumida in New York, Lynne Hirata in San Francisco, Richard Smith in Silicon Valley and San Francisco, and Toshihiko Tsuchiya and Sakon Kuramoto in Tokyo.