Jessica Chen
Jessica Chen
Jessica Chen
Jessica Chen

Biography

Jessica Chen is a partner in White & Case's Global Capital Markets Practice. Recognized as a Next Generation Partner in Capital Markets: Global Offerings in 2024 and 2025 by Legal 500, Jessica advises clients on a full range of corporate and capital markets transactions, including IPOs and registered follow-on offerings as well as private placements. She also has experience with registered bonds, Eurobonds, convertible notes, block trades/bought deals, PIPEs, ATMs, RDs and SPACs / De-SPACs. Jessica has extensive experience with cross-border transactions, including in connection with securities law aspects of mergers and acquisitions and restructurings. In particular, Jessica has worked extensively with Nordic and Latin American clients. She has also represented all the major U.S. investment banks.

Jessica also counsels public companies on ongoing reporting, disclosure issues and corporate governance practices. She works with companies in a range of industries, including biotech / life sciences, technology, media/telecom, retail, education, energy, utilities, oil and gas, and shipping, among others.

Further, Jessica works with tech and biotech entrepreneurs and investors as part of the Emerging Companies / Fast Growth practice.

Jessica's IPO representations include those by Arco Platform Ltd. (also follow-on offering), Avangrid, Inc. (as part of a merger), Avianca S.A., Caesarstone Sdot-Yam Ltd., Evogene Ltd., Fortis Inc. (as part of a merger), Gambling.com Group, Gazit-Globe Ltd., GeoPark Limited, Himalaya Shipping Ltd, Linx S.A., Loma Negra C.I.A.S.A., NeuroDerm Ltd., Oatly Group AB (with the Stockholm team), Olink Holding AB (controlling shareholder and also follow-on offering), Vitru Limited (also follow-on offering) and Wix.com Ltd. as well as the SPAC IPOs of Anthemis Digital, Compute Health, Edify, EdtechX Holdings II, Ironspark, Mudrick Capital II, SCP & CO Healthcare, Stratim Cloud and Rodgers Silicon Valley.

Experience

A selection of Jessica's other recent representations include:

Air France-KLM acquisition of non-controlling stake in Scandinavian Airlines (SAS AB), enabling SAS AB's emergence from its Chapter 11 reorganization and its Swedish restructuring proceedings. and purchase of a portion of US$745 million in convertible notes. Representation of Air France-KLM S.A. on its acquisition of a 19.9% non-controlling stake in the share capital of SAS AB. This transaction was conducted by the Air France-KLM Group as part of a group of investors which also includes Castlelake L.P. on behalf of certain funds or affiliates, Lind Invest ApS, and the Danish State. Jessica advised on the senior secured convertible notes purchase.

Eaton €1.0B Eurobond offering, US$2.0 billion and US$500 million SEC-registered notes offerings, including sustainability-linked notes, €300 million private placement of notes, universal shelf filings, and ongoing disclosure, governance and reporting. Representation of Eaton Corporation plc (NYSE:ETN) and its subsidiaries in various offerings, including for Eurobonds, SEC-registered notes (including sustainability-linked notes), private placement of notes, as well as Eaton's universal shelf filings and ongoing disclosure, governance and reporting. Eaton is an intelligent power management company dedicated to improving the quality of life and protecting the environment for people everywhere. In 2023, Eaton celebrated its status as one of two companies that has been listed on the NYSE for 100 years.

GDCG IPO, acquisitions, shelf registration statement filing and ongoing disclosure, governance and reporting. Representation of Gambling.com Group Ltd (NASDAQ:GAMB) in its IPO, various acquisitions, selling shareholder shelf registration statement filing and ongoing disclosure, governance and reporting. GDCG is an award-winning performance marketing company and leading provider of digital marketing services active exclusively in the online gambling industry.

Wave Life Sciences CMPOs, ATM and GSK equity investment. Representation of J.P. Morgan Securities LLC and Leerink Partners LLC as the representatives of the underwriters in the US$100 million CMPO by Wave Life Sciences Ltd (NASDAQ:WVE). Representation of Jefferies, as sales agent, in connection with Wave's US$250 million ATM program and periodic bring downs as well as in the US$162 million CMPO by Wave. Representation of Glaxo Group Limited (NYSE: GSK), a global biopharma company, on its $50 million equity investment in Wave. The equity investment was entered into simultaneously with a collaboration and license agreement between GSK and Wave to co-develop and co-commercialize oligonucleotide therapeutics, including Wave's preclinical RNA editing program targeting alpha-1 antitrypsin deficiency (AATD), WVE-006. Wave Life Sciences is a clinical-stage biotechnology company focused on unlocking the broad potential of RNA medicines, or those targeting RNA, to transform human health.

Zura Bio Limited PIPEs and ATM. Representation of the placement agents in the US$112.5 million and US$80 million PIPEs by Zura Bio Limited (NASDAQ:ZURA), a clinical stage, multi-asset immunology company developing novel dual-pathway antibodies for autoimmune and inflammatory diseases. Piper Sandler & Co., Guggenheim Securities, LLC and Cantor Fitzgerald & Co. served as lead placement agents for the most recent PIPE and Raymond James Financial International Limited acted as financial advisor to the issuer. Representation of Leerink Partners LLC, as sales agent, in connection with Zura's US$125 million ATM program.

Sangamo Therapeutics RD, ATM and CMPOs. Representation of Barclays Capital Inc. and Cantor Fitzgerald & Co. as placement agent in a registered direct offering of common stock of Sangamo Therapeutics, Inc. (NASDAQ:SGMO) Representation of Jefferies, as sales agent, in connection with Sangamo's US$150 million and US$175 million ATM programs and periodic bring downs. Jessica also represented Cowen and Company, LLC, as lead underwriter, in the US$119 million CMPO by Sangamo, a genomic medicine company committed to translating ground-breaking science into medicines that transform the lives of patients and families afflicted with serious neurological diseases.

American Superconductor CMPOs. Representation of Oppenheimer as sole bookrunning manager and representative of the underwriters in the US$115.5 million CMPO by American Superconductor Corporation (including a fully exercised shoe) in 2025 and the US$60.75 million CMPO in 2024.

Avangrid aggregate US$4 billion equity private placements, aggregate US$2.1B SEC-registered green bond offerings, US$2.8 billion merger and IPO, universal shelf filings and ongoing reporting. Representation of Avangrid, Inc. (NYSE:AGR), a leading sustainable energy company in concurrent private placements of approximately US$4 billion of common stock. Jessica also represented Avangrid, as issuer, in connection with several SEC-registered green bond offerings by Avangrid totaling US$2.1 billion, in one of which White & Case was named Best Green/SRI Finance Law Firm. Previously, Jessica led the team that advised Avangrid in connection with its SEC-registered IPO of common stock through the US$2.8B merger with UIL Holdings Corporation. Further, Jessica advised Avangrid in connection with its universal shelf registration statements filings and with regard to its disclosure issues, ongoing reporting and corporate governance practices. Avangrid has since been taken private by Iberdrola S.A.

Avast / Gen Digital merger and US$1.5 billion acquisition financing. Representation of Avast plc, an industry leading maker of security software, in its US$9.2 billion merger with NortonLifeLock Inc., now Gen Digital Inc. (NASDAQ:GEN), and the issuance by Gen Digital of US$1.5 billion of senior unsecured notes. The proceeds were primarily used to fund the acquisition of Avast. Gen Digital is a global leader in consumer cyber safety.

Fortis / ITC US$11.3 billion merger and dual-listing of Fortis on the NYSE. Representation of Fortis Inc. (TSX and NYSE:FTS), Canada's largest publicly owned distribution utility, in its US$11.3 billion acquisition of ITC Holdings Corp. (NYSE:ITC), an electric transmission company operating in the Great Lakes and Great Plains regions, through a registered exchange offer with the SEC and the dual-listing of Fortis on the NYSE.

Himalaya Shipping IPO. Representation of DNB Markets, Inc. as the sole global coordinator, joint bookrunner and representative of the underwriters on the NYSE dual-listing and U.S. initial public offering of Himalaya Shipping Ltd (NYSE:HSHP), an independent dry bulk carrier company incorporated in Bermuda. The company's common shares are also listed on Euronext Expand in Norway under the ticker "HSHP." This transaction was named the IPO Deal of the Year in 2023 by Marine Money Deal of the Year Awards.

Olink IPO and follow-on offering. Representation of Summa Equity AB, a Nordics-based private equity fund specializing in investments in companies that help solve global challenges, as selling stockholder on the US$233 million registered follow-on offering and US$353 million IPO and listing on Nasdaq of American Depositary Shares by Olink Holding AB (NASDAQ:OLK), a Sweden-based company that develops bioscience solutions. Goldman Sachs, Morgan Stanley, SVB Leerink and BTIG, LLC acted as underwriters in the follow-on offering and the IPO.

Arco IPO and follow-on offering. Representation of Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and Itau BBA USA Securities, Inc. as underwriters on the US$112 million registered follow-on offering of Class A common shares by Arco Platform Ltd. (NASDAQ:ARCE), a company that provides a complete pedagogical system with technology-enabled features to deliver educational content to private primary and secondary schools in Brazil. Jessica also represented Goldman Sachs & Co. LLC, Morgan Stanley, Itaú BBA, BofA Merrill Lynch, Allen & Company LLC, BTG Pactual and UBS Investment Bank as underwriters of the US$210M IPO and listing on Nasdaq by Arco.

Vitru Limited IPO and follow-on offering. Represented Goldman Sachs & Co. LLC, BofA Securities, Inc., Itau BBA USA Securities, Inc., Morgan Stanley & Co. LLC, Santander Investment Securities Inc., Banco Bradesco BBI S.A., Banco BTG Pactual S.A. – Cayman Branch, Credit Suisse Securities (USA) LLC and XP Investments US, LLC as underwriters of the IPO of common shares of Vitru Limited (NASDAQ:VTRU) as well as represented the underwriters in Vitru's follow-on offering. Vitru Limited provides distance learning education services to post-secondary students in Brazil.

Wix.com IPO. Representation of Wix.com Ltd (NASDAQ:WIX), a leading global web development platform, in connection with its US$137 million IPO and NASDAQ listing of ordinary shares. J.P. Morgan and Bank of America were joint bookrunning managers.

NeuroDerm Ltd. IPO. Representation of NeuroDerm Ltd. (NASDAQ:NRDM), an Israeli pharmaceutical company focused on developing next-generation treatments for central nervous system disorders, in its IPO and listing on Nasdaq. Jefferies and Cowen and Company were Joint Bookrunners for the IPO and Jefferies was the sole representative. NeuroDerm has since been acquired by Mitsubishi Tanabe Pharma Corporation, a Japanese corporation, and taken private.

Evogene Ltd. IPO. Representation of Evogene Ltd. (NASDAQ:EVGN), an Israeli plant genomics company that enhances seed traits underlying crop performance and productivity through biotechnology and advanced breeding methods, in its IPO and listing on the New York Stock Exchange. Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. acted as representatives of the underwriters for the IPO.

Loma Negra US$1.1 billion IPO. Representation of Loma Negra C.I.A.S.A.( NYSE:LOMA), the leading cement company in Argentina, as issuer, and the selling shareholder, Loma Negra Holding GmbH, in the US$1.1 billion IPO and listing of American Depositary Shares on the New York Stock Exchange. Loma Negra is part of the InterCement group, one of the largest cement producers globally. Banco Bradesco BBI S.A., Citigroup Global Markets Inc., HSBC Securities (USA) Inc., Itau BBA USA Securities, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co. LLC acted as representatives of the underwriters. This was the third-largest IPO ever by an Argentine issuer at the time.

Avianca Holdings US$409 million IPO. Representation of J.P. Morgan Securities LLC and Citigroup Global Markets Inc. as global coordinators, in connection with the US$409 million IPO and listing on the New York Stock Exchange of American Depositary Shares (ADSs), each representing eight preferred shares of Avianca Holdings S.A., which is organized under the laws of Panama. Avianca's preferred shares are listed on the Colombian Stock Exchange and the company's headquarters are located in Bogotá, Colombia. Avianca is a leading airline in Latin America, offering passenger and cargo service through more than 5,500 weekly scheduled flights to more than 100 destinations in 25 countries.

Caesarstone US$73.3 million IPO. Representation of Caesarstone Sdot-Yam Ltd., an Israeli company, in its initial public offering of 6,660,000 ordinary shares for US$73.3 million and listing on the Nasdaq Global Select Market. Caesarstone is a manufacturer of high-quality engineered quartz surfaces.

Gazit-Globe Ltd. US$81 million IPO. Representation of the underwriters, led by Citigroup Global Markets Inc. and Deutsche Bank Securities Inc., in the U.S. initial public offering and listing on the NYSE of Gazit-Globe Ltd., an Israeli public company that owns and operates supermarket-anchored shopping centers in Brazil, Canada, Central and Eastern Europe, the Nordics and the United States.

GeoPark Limited US$94.5 million IPO. Representation of J.P. Morgan Securities LLC, Banco BTG Pactual S.A. – Cayman Branch, Itau BBA USA Securities and Scotia Capital (USA) Inc. as underwriters in connection with the US$94.5 million IPO and listing on the New York Stock Exchange of shares of GeoPark Limited, an exempted company incorporated under the laws of Bermuda. GeoPark is an independent oil and natural gas exploration and production company with operations in Chile, Colombia, Brazil and Argentina.

Linx S.A. US$265.1 million IPO. Representation of Linx S.A. and the selling shareholders in connection with the company's initial international placement of equity securities, undertaken concurrently with its initial public offering in Brazil. The offering consisted of 17,000,000 primary and secondary common shares at R$27 per share, pricing at the top of the estimated range. Linx is the leading provider of enterprise resource planning and point-of-sale retail management software for both cloud-based and on-premise software solutions in Brazil, and its clients include seven of the ten largest publicly listed retail companies in Brazil.

StoneCo US$1.495 billion follow-on offering. Represented J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Citigroup Global Markets Inc. as representatives of the underwriters in connection with the US$1.5 billion follow-on offering of common stock for StoneCo Ltd. (NASDAQ:STNE), a leading provider of financial technology solutions that empower merchants and integrated partners to conduct electronic commerce seamlessly across in-store, online, and mobile channels in Brazil.

IQVIA block trades. Representation of the underwriter(s) in the US$772 million, US$545 million and US$770 million secondary offering/block trade by certain selling shareholders of IQVIA Holdings Inc. (NYSE:IQV), formerly known as Quintiles Transnational Holdings Inc., and the subsequent share repurchases by the company. The underwriters were selected through a competitive bid process and included Barclays, Citigroup and Morgan Stanley. The selling shareholders included Bain Capital, TPG, 3i and the founder, Dennis Gillings. IQVIA is a leading global provider of advanced analytics, technology solutions, and clinical research services to the life sciences industry. 

Alvotech US$2.25 billion business combination with Oaktree Acquisition Corp. II. Representation of Alvogen Lux Holdings S.à r.l., a global pharmaceutical company and the majority shareholder of Alvotech Holdings S.A. (NASDAQ:ALVO), in Alvotech's $2.25 billion business combination with Oaktree Acquisition Corp. II and Alvogen's investment in the related PIPE. Alvogen's shareholder include a consortium of investors led by CVC Capital Partners and include Singapore-based investment company Temasek, Vatera Healthcare Partners, and Pamplona Capital Management. Jessica also provides ongoing advice to Alvogen and CVC.

Oatly US$425 million financing and US$1.1 billion IPO. Representation of Oatly Group AB (NASDAQ:OTLY), the world's original and largest oatmilk company, headquartered in Sweden, on its US$425 million of financing commitments, consisting of an aggregate principal amount of US$300M convertible notes, and commitment letters for a US$125 million term loan B credit facility and a SEK 2.1 billion amended sustainable revolving credit facility. Jessica also advised Oatly on its US$1.1 billion IPO and listing on the Nasdaq Global Select Market of American Depositary Shares.

Klarna US$800 million financing round. Representation of Klarna Bank AB, a Swedish fintech company that provides online financial services such as payments for online storefronts and direct payments along with post-purchase payments, on its US$800M financing round. The financing attracted strong support from both existing and new investors.

Kite collaboration with Arcellx. Representation of Kite Pharma, Inc. (NASDAQ:KITE), a subsidiary of Gilead Sciences, Inc. (NASDAQ:GILD), on its $100M equity investment in Arcellx, Inc. (NASDAQ:ACLX). The equity investment formed part of a global strategic partnership collaboration and license agreement between Kite and Arcellx to co-develop and co-commercialize Arcellx's lead late-stage product candidate, CAR T-cell ddBCMA therapy, for the treatment of patients with relapsed or refractory multiple myeloma.

Yamauchi No.10 Family Office acquisition proposal. Representation of Yamauchi-No.10 Family Office on its successful campaign to replace a majority of the board of directors of Toyo Construction, Co. Ltd., a leading Japanese listed maritime construction company, as part of its unsolicited, deal-jumping proposal to acquire Toyo for JPY94.4 billion.

Oi S.A. Restructuring. Representation of Oi S.A. – In Judicial Reorganization in connection with a R$2,011 million (approximately US$519 million) preemptive offering of its common shares that was registered with the SEC. Oi issued an additional 1,604,268,162 Common Shares in the form of ADSs for the aggregate amount of R$1,989 million (approximately US$513 million) to various fund groups that had participated in Oi's judicial reorganization in a private placement under the terms of Oi's judicial reorganization plan and a Commitment Agreement. Jessica assisted Oi with negotiating the registration rights agreement with various investors.

New York
BA
Cornell University
JD
Benjamin N. Cardozo School of Law
English
French
Mandarin

Next Generation Partner, Capital Markets: Global Offerings, Legal 500, 2024-2025

Leading Dealmakers in America, Lawdragon 500, 2024-2025

Shortlisted for Equity Capital Markets Lawyer of the Year, Women in Business Law Americas Awards, Euromoney, 2022-2024

BTI M&A Client Service All-Star 2021 for Capital Markets and M&A, The BTI Consulting Group, Inc., 2021

"United States: Capital Markets" Legal 500 Country Comparative Guides 2025 (2025)

"Ready to launch: US stock markets are poised for a strong 2024" Turning the tide: Global IPOs look for a rebound in 2024 (2024)

"Tech continues to dominate" Global IPOs: Seeking signs of stabilization (2023)

"US sustainable bond market well positioned despite general slowdown in bond financings" Debt Explorer (2023)

"Global IPOs reached new highs" Global IPOs: A blockbuster year (2022)

"Sustainable finance in Latin America" Latin America Focus: Fall 2021 (2021)

Service areas