Clay Douglas assists a variety of entities, including business development companies, in their capital-raising efforts, launch-to-market operations, and with other regulatory and transactional matters. Mr. Douglas advises issuers and investment banks in connection with public and private offerings of equity and debt securities, including through equity compensation plans. He also advises clients engaged in strategic transactions and on general corporate governance matters.
In addition, Mr. Douglas counsels U.S. domestic and international public companies on compliance with SEC-reporting obligations under the Securities Exchange Act of 1934 and other securities laws, including the following: annual, quarterly, and current reporting; proxy disclosure and related shareholder communications; compliance with beneficial ownership reporting and Section 16(b); and compliance with the national securities exchanges’ listing requirements.
Prior to joining Dechert, Mr. Douglas served as an associate at the Washington, D.C. office of another global law firm.
- Underwriter, Raymond James & Associates, Inc., in connection the US$100.0 million notes offering by Stellus Capital Investment Corporation (NASDAQ: SCM).
- Underwriters, led by Raymond James & Associates, Inc., in connection the US$130.0 million notes offering by Monroe Capital Corporation (NASDAQ: MRCC).
- Underwriter, Raymond James & Associates, Inc., in connection the US$65.0 million notes offering by Capital Southwest Corporation (NASDAQ: CSWC).
- Underwriter, Raymond James & Associates, Inc., in connection the US$50.0 million notes offering by Gladstone Capital Corporation (NASDAQ: GLAD).
- Triangle Capital Corporation, a BDC, in a US$136.5 million follow-on equity offering in February 2017.
- Triangle Capital Corporation, in a US$134 million follow-on equity offering in July 2016.
- WENN Digital, Inc. of KODAKCoin, a digital asset, in an up to US$60 million continuous exempt offering.
- A private BDC in a US$275.0 million exempt initial capital raise.
M&A Transactions and Proxy Contests
- Harvest Capital Credit Corporation (formerly NASDAQ: HCAP) and the special committee HCAP’s board of directors in HCAP’s sale to Portman Ridge Finance Corporation (NASDAQ: PTMN).
- Barings BDC, Inc. (NYSE: BBDC) in its acquisition of MVC Capital, Inc. (NYSE: MVC).
- Alcentra Capital Corp. (formerly Nasdaq: ABDC), a business development company, in its cash and stock merger with Crescent Capital Corp. (NYSE: CCAP).
- Triangle Capital Corporation in connection with its dual asset sale and externalization transaction with an affiliate of Benefit Street Partners L.L.C. and Barings LLC.
Includes matters handled at Dechert or prior to joining the firm.
- University of North Carolina at Chapel Hill, B.A., 2010
- University of North Carolina School of Law, J.D., Articles Editor for the North Carolina Law Review, 2014, with Honors
- North Carolina
- District of Columbia