Sadis & Goldberg LLP, led by Partners Jonathan Bernstein and Robert Cromwell, represented Point Pickup Technologies Inc. (“Point Pickup”), a portfolio company of BBH Capital Partners (“BBH”), in its merger with Pickup Now, Inc. (“Pickup Now”). Sadis concurrently handled a pre-closing reorganization and an offering of secured convertible promissory notes for Point Pickup.
The Sadis deal team consisted of Mr. Bernstein and Mr. Cromwell, Paul J. Marino (Partner, Head of Corporate M&A), Seth Lebowitz (Partner, Tax), and Samantha Romano (Associate).
“We were pleased to assist Point Pickup in negotiating and navigating all transactions simultaneously and look forward to supporting Point Pickup post-merger,” said Mr. Bernstein.
“Our deal team, led by Jonathan Bernstein and Robert Cromwell, artfully handled a variety of multifaceted issues in connection with a merger transaction. They also harmonized all of the external demands one expects when dealing with complex issues and sophisticated clients like Don Hardie and Jin Kim of BBH,” said Mr. Marino; “I couldn’t be more pleased by the outcome for our client and the effort by the entire Sadis team.”
“The merger of the two companies puts our combined organization at the forefront of the future of last mile delivery and offers a comprehensive solution for customers across many verticals,” said Dauvin Peterson, President and Chief Analytics Officer at Point Pickup. Mr Peterson added, “The team at Sadis afforded both companies the ability to work towards a complex transaction closing, continue operating normally as well as planning integration strategy.”
Point Pickup is a leading enterprise-focused same-day delivery service provider for top retailers nationwide, while incorporating what had been Pickup Now’s specialty in simplifying delivery logistics, especially for bulkier retail items.
BBH Capital Partners, a private equity strategy of Brown Brothers Harriman & Co., provides friendly capital solutions to growth-oriented middle-market companies. BBHCP has the flexibility to act as a control or non-control investor and to structure investments as a combination of equity and subordinated debt securities, as needed. BBHCP’s capital used to support a variety of transactions, including management or leveraged buyouts, growth financings, recapitalizations, buy-and-build strategies, and acquisitions.
Sadis & Goldberg maintains a diverse, business-oriented practice focused on corporate law, mergers & acquisitions, investment funds, litigation, real estate, regulatory, tax and ERISA. Drawing on the experience and depth of our attorneys in these distinct areas, we can leverage each attorney’s industry specific knowledge to help our clients succeed. This collaborative approach brings to the table a collective insight that contributes to sensible, efficient resolutions, and allows us to remain attentive to the cost and time sensitivities that may be involved.
Contact Information
Name: Shawn Koupal
Email: skoupal@sadis.com
Job Title: Head of Marketing & Business Development
LexisNexis® Canada Legal Generative AI Survey Shows Over Half of the Legal Profession Believe Generative AI Will Significantly Transform the Practice of Law
Generative AI tech usage is being driven at a much higher rate by legal professionals compared to consumers – with expectations of AI use for research, communication, and drafting documents.
TORONTO, September 6, 2023 – LexisNexis® Legal & Professional, a leading global provider of legal information and analytics, released the results of its Canadian Legal Generative AI Survey. LexisNexis Canada Inc. surveyed over 1,952 people, including 610 lawyers, 148 law students, and 1,194 consumers in Canada to better understand the overall awareness of generative AI, how the legal profession is currently using these tools, and how likely they are to adopt them in the future.
This report provides insights into the awareness, usage, impact, potential, and ethical considerations surrounding generative AI (GAI), as well as how it may impact the relationships between counsel and their clients and the education of new lawyers.
Awareness of Generative AI
The survey results show that there is an extremely high level of awareness among lawyers with 93% stating they have heard of it. In fact, lawyers have become aware of GAI at a much higher rate than the public; only 66% of consumers have reported they have heard of GAI tools, such as ChatGPT.
Potential Use of Generative AI
More than half of all lawyers (52%) and over two thirds of law students (68%) have already used it either personally or professionally. Consumers have used GAI at a slightly lower rate, with 37% already having used GAI tools either personally or professionally.
Potential use is also aligned with those currently in use by early adopting lawyers, with researching matters (59%) in the top spot. While 42% are currently using generative AI to understand new legal concepts, only 35% see the potential for that use case. The same is true for writing emails (57% are using currently yet only 46% see potential)
“We are excited to see the level of interest in Generative AI among our customers.” said Alan Votary – Head of Product, Canada. “This survey helps us understand their perceptions of this new technology, and the insights gained here will help us focus future product development, to deliver better outcomes for legal professionals.”
Potential Impact of Generative AI
When asked what impact generative AI will have on the practice of law, over half the legal market (51%) and law students (56%) believe it will significantly transform the practice of law, with nearly all believing it will have some impact.
Ethics Regarding Generative AI
A very high percentage of the legal market and law students (90%) are concerned about the ethical implications of generative AI, (with 37% of the legal market, and 39% of law students responding that their concerns are at least “significant”). However only a very few members of the legal market (6%) and law students (8%) say their concerns are fundamental.
These findings reinforce the fact that legal professionals desire to work with trusted and ethical companies as they explore and adopt generative AI solutions in their work.
About LexisNexis Legal & Professional
LexisNexis Legal & Professional® provides legal, regulatory, and business information and analytics that help customers increase their productivity, improve decision-making, achieve better outcomes, and advance the rule of law around the world. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis® and Nexis® services. LexisNexis Legal & Professional, which serves customers in more than 150 countries with 11,300 employees worldwide, is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers.
Contact Information
Name: Collin Smith
Job Title: Director, Marketing
1-905-695-5312
LexisNexis Canada
Email: Collin.smith@lexisnexis.ca