Clay’s practice focuses on private securities offerings, venture capital financings, corporate finance, securities law compliance, and general corporate and LLC matters. He primarily advises high-growth start-ups in the information technology and biotechnology industries, as well as the angel investors and VC funds that back them, in matters ranging from initial formation and funding, to ongoing business operations and exit.
A native of Raleigh, Clay received his J.D., with honors, from the University of North Carolina School of Law. While in law school, Clay served as a staff member and editor of the North Carolina Law Review. Clay earned his B.A. in Economics, with a second major in History, from the University of North Carolina at Chapel Hill.
- Listed among The Best Lawyers in America: Corporate Law (2022-2024), Venture Capital Law (2024)
- Listed among North Carolina Super Lawyers Business/Corporate – Rising Star (2020-2023)
- Listed among Business North Carolina Magazine Legal Elite: Business (2019)
- American Bar Association
- North Carolina Bar Association
- Represented local startup developing online advertising platform for real estate professionals and local business in $4 million Series C Preferred Stock financing
- Served as outside counsel to startup developing artificial-intelligence-driven cloud platform management software in $5 million Series Seed Preferred Stock financing
- Represented consortium of investors, consisting of venture capital and large pharmaceutical companies, in $10 million Series A Preferred Stock financing of small-molecule development company and $5 million Series A Preferred Stock financing of animal health startup
- Represented Duke University medical-device spinout in $2 million Series Seed Preferred Stock financing
- Represented Raleigh-based SaaS developer in $20 million Series B Preferred Stock financing
- Represented California-based clinical-stage biopharmaceutical company in $40 million Series C Preferred Stock financing
- Represented global healthcare and pharmaceutical company in $25 million Series C Preferred Stock financing of consumer health products company and $50 million Series B Preferred Stock financing of company developing gene-editing platform
- Represented local venture capital firm in multiple equity and convertible debt investments in various gene therapy startups.
- Served as outside counsel to multiple consumer-product companies, including local cold-brew coffee and energy drink producers.
- Represented global pharmaceutical company in multiple equity and convertible debt investments in US, UK, Canadian, German and Dutch portfolio companies.
- “Murders & Executions: The SEC’s Regrettable Reluctance to Formalize a Finder’s Exemption in M&A Transactions”, North Carolina Law Review Addendum, vol. 89 (2011)