Wilson Sonsini is First Law Firm to Use DFIN’s ActiveDisclosure Concierge Platform to Streamline IPO Process

Top IPO law firm praises DFIN’s sophisticated tech and 24/7/365 service

CHICAGO, Sept. 24, 2024 /PRNewswire/ — DFIN (NYSE: DFIN), a leading global risk and compliance solutions company, announced today that Wilson Sonsini, a leading IPO law firm that has represented technology pioneers associated with thousands of milestone innovations, is the first law firm to leverage DFIN’s ActiveDisclosure concierge platform to streamline the IPO process for its client, OneStream, Inc.

The news brings together two leaders in the business of preparing companies for initial public offerings. Wilson Sonsini has advised more U.S. technology companies on their IPOs than any other law firm and was named one of Fast Company’s Top 10 Most Innovative Companies in North America for its forward-thinking approach to improving client service with technology.  DFIN is the global leader for IPO services with 700+ traditional IPOs filed and 350+ SPACs serviced over the last six years, including a majority of PE- and VC-backed IPOs.

Wilson Sonsini utilized ActiveDisclosure’s sophisticated technology and experienced DFIN support team, which includes filing, project management, and layout experts.

“ActiveDisclosure’s enhanced functionality, paired with DFIN’s 24/7/365 premium service, provided a great client and user experience,” said Michael Nordtvedt, Co-Head of Wilson Sonsini’s Capital Markets practice. “We were thrilled to work with DFIN to support the OneStream IPO and anticipate that ActiveDisclosure will continue to significantly boost the efficiency of IPO processes.”

“Wilson Sonsini is a tech-forward law firm that brings a passion for innovation, accuracy, and efficiency to their work,” said Craig Clay, President of Global Capital Markets at DFIN. “We are excited that a law firm with such deep IPO expertise is leveraging ActiveDisclosure, which has been enhanced with the features and functionality that instill the control and trust legal professionals need.”

Here’s How It Works
ActiveDisclosure transforms the IPO registration statement process and addresses some of the biggest pain points for legal firms guiding clients through an IPO. It provides an ecosystem of digital workflows, allowing attorneys to securely share documents for real-time reviews and comments by clients, bankers, auditors, and other stakeholders using ActiveDisclosure’s role-based collaboration features.

Attorneys can also leverage DFIN experts 24/7 to execute work that doesn’t require strategic legal expertise, including managing projects, tracking deadlines, providing project guidance and recommendations, laying out documents, and more. In addition, ActiveDisclosure offers:

Innovative Collaboration Features: Users can make, track, compare, and print change pages only on-demand.The Power to Retain Control of Processes and Documents: This saves time in drafting and editing documents and ensures accuracy by enabling lawyers to focus on high value activities while requesting DFIN for support.In-App Collaboration with DFIN Service Staff:  Users can assign tasks for execution by DFIN experts 24/7/365.

Streamlining the IPO process for clients 
“ActiveDisclosure significantly streamlined our Form S-1 drafting process, boosted efficiency, and enabled close collaboration with our client,” said Victor Nilsson, Wilson Sonsini partner. “The collaboration capabilities and security features saved time and helped us mitigate risks at every step.”

Historically, law firms have drafted and filed the Form S-1 using financial and other information provided by clients — a manual process that typically requires hundreds of hours of work. ActiveDisclosure transforms this process with modern collaboration software, enabling attorneys to spend more time focusing on client legal matters. It saves time in what is inherently a resource-intense, deadline-driven process.

After an IPO, a DFIN team sets up the issuer for successful transition into post-IPO financial reporting and SEC filing. That’s why clients who benefit from ActiveDisclosure during their IPOs are better prepared for post-IPO SEC compliance, including the preparation and filing of Forms 10-Q and 10-K.

About Wilson Sonsini 
For more than 60 years, Wilson Sonsini has offered a broad range of services and legal disciplines focused on serving the principal challenges faced by the management and boards of directors of business enterprises. The firm is nationally recognized as a leading provider to growing and established clients seeking legal counsel to complete sophisticated corporate and technology transactions; manage governance and enterprise-scale matters; assist with intellectual property development, protection, and IP-driven transactions; represent them in contested disputes; and/or advise them on antitrust or other regulatory matters. With deep roots in Silicon Valley, Wilson Sonsini has offices in Austin; Beijing; Boston; Boulder; Brussels; Hong Kong; London; Los Angeles; New York; Palo Alto; Salt Lake City; San Diego; San Francisco; Seattle; Shanghai; Washington, D.C.; and Wilmington, DE. For more information, please visit www.wsgr.com.

About DFIN
DFIN is a leading global provider of innovative software and technology-enabled financial regulatory and compliance solutions. We provide domain expertise, enterprise software and data analytics for every stage of our clients’ business and investment lifecycles. Markets fluctuate, regulations evolve, technology advances, and through it all, DFIN delivers confidence with the right solutions in moments that matter. Learn about DFIN’s end-to-end risk and compliance solutions online at DFINsolutions.com or you can also follow us on X (formerly Twitter) @DFINSolutions or on LinkedIn.

About OneStream
OneStream is how today’s Finance teams can go beyond just reporting on the past and Take Finance Further by steering the business to the future. It’s the leading enterprise finance platform that unifies financial and operational data, embeds AI for better decisions and productivity, and empowers the CFO to become a critical driver of business strategy and execution.  We deliver a comprehensive cloud-based platform to modernize the Office of the CFO. Our Digital Finance Cloud unifies core financial and broader operational data and processes and embeds AI for better planning and forecasting, with an extensible architecture, so customers can adopt and develop new solutions, achieving greater value as their business needs evolve. With over 1,400 customers, including 15% of the Fortune 500, more than 250 go-to-market, implementation, and development partners and approximately 1,400 employees, our vision is to be the operating system for modern finance. To learn more, visit onestream.com.

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SOURCE Donnelley Financial LLC