International law firm Freshfields Bruckhaus Deringer has advised McCarthy & Stone, the UK’s leading retirement homes developer, on its successful rights issue and refinancing of its existing liabilities, totalling £518.9m. The transaction significantly reduces the Company’s debt by £350m.
Davis Polk advised Credit Suisse Securities (USA) LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Sandler O’Neill & Partners as joint book-running managers and representatives of the underwriters in an SEC-registered secondary offering of 28,000,000 shares of common stock of First BanCorp., sold by the U.S. Department of the Treasury, funds managed by Oaktree Capital Management, L.P. and funds affiliated with Thomas H. Lee Partners, L.P.
Davis Polk advised Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC and Deutsche Bank Securities Inc. as joint book-running managers on an SEC-registered offering of 9,694,027 shares of common stock of XPO Logistics, Inc. (XPO). XPO intends to use the net proceeds of the offering, together with cash on hand, to finance its acquisition of 3PD Holding, Inc., the largest non-asset, third-party provider of heavy goods, last-mile logistics in North America, and to pay related fees and expenses. The net proceeds of the offering were approximately $209 million.
Davis Polk advised Barclays Capital Inc. as underwriter in connection with the secondary offering of 6,900,000 shares of common stock of Wesco Aircraft Holdings, Inc. sold by a selling stockholder, an affiliate of the Carlyle Group, for an aggregate price to the public of $113 million. Wesco Aircraft’s common stock is traded on the New York Stock Exchange under the symbol “WAIR.”
Davis Polk advised Morgan Stanley & Co. LLC and Goldman, Sachs & Co. as joint book-running managers of the several underwriters in connection with the $135.2 million initial public offering of 6,440,000 shares of common stock of Cvent, Inc., which included 840,000 shares from the exercise of the underwriters’ over-allotment option in full. The common stock is listed on the New York Stock Exchange under the symbol “CVT.”
Davis Polk advised Goldman, Sachs & Co., Barclays Capital Inc. and Citigroup Global Markets Inc. as joint book-running managers and representatives of the underwriters in connection with the $112.7 million initial public offering of 8,050,000 shares of common stock of Stock Building Supply Holdings, Inc., of which 4,411,765 shares were issued and sold by the Company and 3,638,235 shares were sold by the selling stockholders (including 1,050,000 shares from the full exercise of the underwriters’ over-allotment option).
Davis Polk advised Merrill Lynch, Pierce, Fenner & Smith Incorporated, Goldman, Sachs & Co. and J.P. Morgan Securities LLC as the joint book-running managers in connection with an SEC-registered secondary offering of 4,696,715 shares of common stock of Quality Distribution, Inc., of which 4,611,194 shares were sold by certain affiliates of Apollo Management, L.P. and 85,521 shares were sold by MidOcean Capital Investors, L.P., including 426,974 shares from the underwriters’ exercise in full of their option to purchase additional shares.
Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised international shipping company Capital Product Partners L.P. (“CPLP”) as Marshall Islands counsel on its issuance of $120 million in units to help finance the acquisitions of three container vessels.
With an existing fleet of 27 vessels, CPLP expects to use the net proceeds towards the purchase of three 5,023 TEU container vessels – the CCNI ANGOL, the HYUNDAI PRIVILEGE and the HYUNDAI PLATINUM from its sponsor Capital Maritime & Trading Corp.
International law firm Olswang has advised Allenby Capital Limited, nominated adviser to RapidCloud International Plc, on the admission of RapidCloud's shares to trading on AIM at a market capitalisation of £10 million. The float was conducted for the purpose of raising £1 million for expansion of RapidCloud International Plc into Indonesia. The shares opened at 54p and closed up some 30% at the end of the first day of trading at 69.5p
The Firm represented the underwriters, led by Robert W. Baird & Co., William Blair & Company, L.L.C. and Piper Jaffray & Co., in connection with the underwriting of the initial public offering of common stock by Fox Factory Holding Corp. (“Fox”). The offering of 9,857,143 shares, which includes the shares that were sold pursuant to the option exercised by the underwriters, raised approximately $148 million in aggregate gross proceeds for Fox and the selling stockholders. The shares are now listed on the Nasdaq Global Select under the ticker symbol "FOXF."