William J. Bernat

Banks and other financial institutions rely on Will’s expertise when structuring asset-based and other commercial lending transactions with both emerging and entrepreneurial companies and more mature borrowers. Will has guided both lenders and borrowers through transactions representing aggregate commitments in excess of $1 billion.

Notable Experience and Client Impact

General Corporate/Emerging Companies

• Advised RIND, New York-based makers of functional and sustainable whole fruit snacks, in connection with its closing of a $6.1 million Series A capital raise led by Valor Siren Ventures (VSV), along with a follow-on investment from Melitas Ventures.
• Advised Clean Crop Technologies, Inc., the developer of next generation solutions for crop loss and food safety, in connection with its $3 million seed stage investment round. Also advised Clean Crop in connection with its $6 million series A financing.
• Advised Hälsa Foods, the maker of the first and only 100% clean and organic oat milk yogurt, in connection with its financing round led by Gary Hirshberg, co-founder and former long-time CEO and chairman of Stonyfield Organic.
• Advised Cali’flour Foods, the developer and manufacturer of low-carb, gluten-free cauliflower products, in a Series A financing round led by Sunrise Strategic Partners, with participation from CircleUp Growth Partners.
• Advised Demers Food Group Inc. in a round of financing led by Arbel Growth Partners LP, the private equity firm led by Carl Lee, the former president and CEO of Snyder’s Lance, Inc.
• Advised Wandering Bear, Inc., a cold brew coffee maker, in a $8 million Series A equity round of financing, a $5 million funding round, and a $1 million revolving line of credit facility from Assembled Brands Capital Funding, LLC.
• Served as transactional and corporate counsel to an artwork rental and rotation startup on multiple financing rounds.
• Acted as corporate counsel for a leading sunglasses producer in the United States, including store-within-store partnerships.
• Played a key role in expanding the original fantasy sports-game retailer beyond board-game enthusiasts to online and mobile users through joint ventures and co-promotion arrangements with sports media outlets and developers.
• Served as corporate and fundraising counsel to an all-natural snack food company, protein-based beer company, and organic fitness beverage company.
• Advised a nationally recognized full-service mobile app development company in multiple transactions.

M&A

• Represented Kalahari Snacks, the #2 biltong brand in the U.S., in its acquisition by Stryve Foods LLC, an emerging healthy snacking platform and the leading air-dried meat snack company in the country.
• Represented UrSure, Inc., an HIV medication adherence diagnostics company, in connection with its acquisition by OraSure Technologies, Inc. (NASDAQ: OSUR), a leader in point of care diagnostic tests and specimen collection and stabilization devices, and microbiome laboratory and analytical services.
• Represented Hans Kissle Company, LLC in its $108 million acquisition by Mitsui & Co., Ltd.
• Represented the acquirer in the purchase and license of certain assets related to an overnight oats brand from a multinational food and beverage corporation.
• Represented Kombrewcha (the first alcoholic Kombucha) in its sale to a strategic acquirer.
• Advised on a $40 million joint venture between a photoelectric sheeting company and a commercial solar panel producer.
• Represented a co-working space provider, including multiple partnerships and joint ventures with a national retailer.
• Advised on the sale of a privately-held wide format digital printing company to a strategic buyer.
• Provided counsel on the acquisition of a medical device coating and surface treatment business by a private biomedical company for a combination of cash and equity.
• Advised on the acquisition of a UK-based asset management risk model business by a privately-held strategic buyer.
• Advised on the sale of a venture-backed digital photography asset management software company to a privately-held strategic buyer.
• Provided counsel on the sale of a dietary supplement and pharmaceuticals business to a privately-held strategic buyer.
• Advised on the sale of an educational research, marketing, and branding business to a publicly traded media and marketing company.
• Advised on the acquisition of Golf Digest-rated “Best Places to Play” golf course on Cape Cod by private buyers.

Commercial Finance

• Represented a syndicate of five of the largest U.S. banks in connection with a $500+ million loan facility to a diversified real estate investment/CMBS, multi-family mortgage and LIHTC syndication company.

A leader in Boston’s innovation and startup community, Will serves on the partners’ committee of, and is a frequent lecturer and panel member at, The Capital Network, a nonprofit organization that brings together Boston’s largest active community of investors and startup experts to provide practical, hands-on education and personalized mentoring to young entrepreneurs to help them navigate the fundraising process. In addition, Will serves as a mentor and holds regular office hours at MassChallenge, a startup accelerator, and Golden Seeds, one of the nation’s most active early-stage investment firms.

Will frequently serves as a lecturer and guest speaker at the MIT Enterprise Forum, the Babson Entrepreneurship Forum, and Massachusetts Continuing Legal Education, where he presents on topics such as the fundamentals of term sheets and capitalization tables, and general corporate finance and formation issues.