David Lillevand focuses on securities and general corporate law matters, including public offerings and private placements in both domestic and cross-border capital markets transactions, mergers and acquisitions, fund formation and investment management, compliance and corporate governance.

A partner in the Pillsbury’s Corporate practice, David represents issuers, underwriters, placement agents and investors in domestic and cross-border capital markets transactions in numerous countries, including Australia, China, Hong Kong, Singapore, Japan, Malaysia, the UK, the Netherlands, New Zealand and Canada. David has handled IPOs, follow-on offerings, registered direct placements and Rule 144A, Regulation S and other private placements of common stock, preferred stock, and investment grade and high-yield debt, including convertible debt.

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David also has extensive experience in representing public and private companies, as well as private equity and venture capital funds in a wide variety of mergers and acquisitions transactions.

In addition, David counsels emerging growth companies with respect to formation, angel and venture financings, strategic relationships and liquidity events; advises fund managers and investors on the structuring, establishment and operation of investment funds; and advises both publicly and privately held companies and their boards of directors regarding a wide range of corporate governance and compliance matters, including SEC disclosure and reporting obligations.

Representative Experience

  • Represented Chevron Corporation in connection with its registered offerings of over $20 billion of its fixed rate and floating rate notes.
  • Represented Headwaters Incorporated in its $2.6 billion sale to Boral Limited.
  • Represented AirAsia X Berhard in its RM987, 654,375 million Rule 144A/Regulation S global initial public offering.

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  • Represented Asia Alternatives in the formation of investment funds in excess of $4 billion.
  • Represented Chevron in the formation of the Chevron Direct Investment Fund, registered under the Astana International Financial Centre in Kazakhstan.
  • Represented Lithium Power International in its acquisition of JV interests in the Maricunga Lithium Brine Project in Chile.
  • Represented Organicgirl in its $142 million sale to Arable Partners.
  • Represented Headwaters Incorporated in $240 million acquisition of Krestmark.
  • Represented ABN AMRO Rothschild, Goldman Sachs JBWere and UBS in connection with “T3,” a A$15.5 billion secondary offering (including Rule 144A component) by the Commonwealth of Australia of its ordinary shares (in the form of installment receipts) in Telstra Corporation Limited.
  • Represented Dyno Nobel Limited in connection with its $1.1 billion initial public offering/Rule 144A private placement.
  • Represented Incyte Corporation in its Rule 144A/Regulation S offerings of $220 million of convertible senior notes.
  • Represented Spark Infrastructure Group in connection with its A$1.6 billion initial public offering/Rule 144A private placement of stapled securities (in the form of installment receipts).
  • Represented Headwaters Incorporated in its $328.2 million Rule 144A/Regulation S high-yield offering of senior notes.
  • Represented several underwriters in connection with the Rule 144A/Regulation S offerings by the Westfield Group of over $3.0 billion of guaranteed senior notes.
  • Represented Lombard Investments and Lombard Asia in the formation of investment funds in excess of $500 million.

Professional Highlights

  • Recognized by Best Lawyers (published by BL Rankings LLC), Securities/Capital Markets Law (2022 – 2024), and as a 2023 Lawyer of the Year in Securities/Capital Markets.
  • Recognized by International Financial Law Review for Capital Markets: Debt, Capital Markets: Equity – U.S. (2018 – 2019).

Education

  • J.D./M.B.A., University of San Francisco School of Law, 1998

    B.A., Trinity College, 1992

Admissions

  • California