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Firm Client IZEA, Inc. Completes M&A and Public Offering Transactions

August 24, 2018

The Firm recently represented longstanding client IZEA, Inc., the Orlando-based operator of IZEAx®, the premier online marketplace connecting brands and publishers with influential content creators, on two important growth-oriented transactions.

On July 26, 2018, the Firm served as M&A counsel to IZEA in its acquisition of all of the capital stock of TapInfluence, Inc. from its shareholders including several large venture capital firms.  TapInfluence, headquartered in Silicon Valley, operates a SaaS-based online marketplace that enables marketers to access an opt-in network of registered online influencers.  Total consideration for the acquisition in cash and IZEA stock was approximately $7.6 million, with payments spread out at closing and dates six and twelve months after closing.  The transaction brought together the two leaders in the influencer marketing industry.

On June 28, 2018, the Firm served as public offering counsel to IZEA in its underwritten registered public offering of shares of common stock on the Nasdaq Capital Market.  IZEA raised total gross proceeds of approximately $3.6 million pursuant to a “takedown” from IZEA’s effective shelf registration statement on Form S-3.  Craig-Hallum Capital Group LLC acted as the sole managing underwriter for the public offering.  The net proceeds of the public offering were earmarked for financing acquisitions as part of the IZEA’s proven growth strategy.

Following the transactions, the Firm assisted IZEA in changing its corporate name to IZEA Worldwide, Inc.

The transactions were led by Spencer G. Feldman, with assistance from Timothy D. Knox.  On the M&A transaction, Andrew B. Lustigman, Safia A. Anand and Stephen L. Ferszt provided specialized advice.

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