David G. Peinsipp

Peinsipp is a partner and co-head of the global capital markets group at Cooley LLP. He focuses on taking disruptive companies public, including his client Uber Technologies Inc. in its May 2019 IPO—at $8.1 billion, one of the largest U.S. tech offerings ever.

He represented the underwriters in IPOs for Guardant Health Inc., at $273.1 million with a $367.4 million follow-on and for Gossamer Bio, at $317.4 million. Other recent deals include those for Global Blood Therapeutics Inc., a $248.2 million follow-on; for Cision Ltd., a $180 million deal with a $71.8 million follow-on; for Savara Inc. in a $48.9 million follow-on; and for Audentes Therapeutics Inc. in its $231.4 million follow-on. In each, he represented the lenders.

“My favorite thing is to take companies public, like Yelp [in 2012], then to continue to work with them as a mature company,” Peinsipp said.

In 2018, Peinsipp’s firm was among the top three law firms handling the most initial public offerings. Cooley’s health care deal count rose 125 percent to 36 IPOs—more in that category than any other legal firm and 47 percent of the industry’s 2018 total, according to investment advisor Renaissance Capital. Cooley advised on 44 IPOs overall last year, 14 more than in 2017. Cooley’s clients performed better than those of any other law firm on the list, Renaissance said.

Peinsipp and colleague Charles S. Kim wrote in an email at the time, “Cooley’s ‘secret sauce’ that sets us apart and fuels our capital markets success is our deep pervasive commitment to team. Most firms talk about this ideal, but at Cooley the focus on team really is at the center of our identity, it’s the main reason why many of us choose to practice here and it really does make a material difference in how we approach IPOs.”

In an August interview, Peinsipp expanded those remarks. “We’re aware of the traditional hierarchy within firms,” he said. “Most firms have a clear path toward the upper echelon. As lawyers get more senior, they do more deals—and that’s fine. But here we strive not to fall into those roles. Our approach is that we want Cooley to be successful, and no client is owned by a particular partner.”

For the big Uber IPO, Peinsipp flew East to be present at the New York Stock Exchange when early employees, drivers, customers and CEO Dara Khosrowshahi rang the bell. “It was a massive moment in time for us,” Peinsipp said. “We all felt the energy, and it turned into a very nice night. Yes, there was bar-hopping.”

— John Roemer