Latham Advises Wayve on US$85 Million Employee Secondary Share Sale

Latham & Watkins has advised Wayve, a pioneer in embodied AI for autonomous driving, on its US$85 million employee secondary share sale.

The landmark transaction is the first sale of employee equity on the London Stock Exchange’s Private Securities Market and the largest transaction to date under the FCA’s Private Intermittent Securities and Capital Exchange System (PISCES) regulation.

The Latham team was led by London corporate partners Shing Lo and Mark Austin, with Silicon Valley partner Seth Gottlieb; London counsel Koushik Prasad; Silicon Valley counsel Cindy Lee; London associates Cyrus Fung, Louie Gray, and Sidney Chin; and Silicon Valley associate Katie Stevens. Advice was also provided on employee incentive matters by London partner Sarah Gadd and Silicon Valley partner Ashley Wagner, with London counsel Kate Crompton. 

The Latham London team also recently advised Wayve on its Series D financing round.