JFrog’s $509 Milion Initial Public Offering

Latham & Watkins LLP represented the underwriters in the offering. Wilson Sonsini Goodrich & Rosati advised JFrog on the deal.

JFrog Ltd. (JFrog), the liquid software company, has announced the pricing of its initial public offering of 11,568,218 ordinary shares at a price to the public of US$44.00 per share. Of the offered shares, 8,000,000 shares are being offered by JFrog and 3,568,218 shares are being offered by certain of JFrog’s existing shareholders. JFrog will not receive any proceeds from the sale of the shares by the existing selling shareholders. The underwriters have the option to purchase up to an additional 1,735,232 ordinary shares from JFrog at the initial public offering price, less underwriting discounts and commissions.

Morgan Stanley, JP Morgan Chase & Co and BofA Securities were the lead underwriters for the IPO.

Sunnyvale, California-based JFrog, founded in 2008, develops tools for automating the process of building and maintaining apps and counts.

Latham & Watkins LLP represented the underwriters in the offering with a corporate deal team led by Bay Area partners Mark Roeder (Picture) and Brian Paulson and London partner Joshua Kiernan, with Bay Area associates Adam Whitaker and Natalie Robertson. Advice was also provided on tax matters by Bay Area partner Grace Lee, with Orange County associate Janet Hsu; on benefits and compensation matters by Bay Area partner Erin Murphy, with Boston associate Lilly Fang; on data privacy matters by Bay Area counsel Robert Blamires, with Bay Area associate Jennifer Howes; and on technology transactions matters by Bay Area partner Tony Klein, with Bay Area associate Gil Halpern.

The Wilson Sonsini team representing JFrog in the offering includes partners Jeffrey Saper, Allison Spinner, Steven Bernard, and David Thomas, associates Michael Klippert, Lillian Jenks, Shira Oyserman, and Chris Harlem, and senior paralegal Jessie Couch.

Involved fees earner: Robert Blamires – Latham & Watkins; Lilly Fang – Latham & Watkins; Gil Halpern – Latham & Watkins; Jennifer Howes – Latham & Watkins; Janet Hsu – Latham & Watkins; Joshua Kiernan – Latham & Watkins; Anthony Klein – Latham & Watkins; Grace Lee – Latham & Watkins; Erin Murphy – Latham & Watkins; Brian Paulson – Latham & Watkins; Mark Roeder – Latham & Watkins; Adam Whitaker – Latham & Watkins; Steven Bernard – Wilson Sonsini Goodrich & Rosati; Chris Harlem – Wilson Sonsini Goodrich & Rosati; Lillian Jenks – Wilson Sonsini Goodrich & Rosati; Michael Klippert – Wilson Sonsini Goodrich & Rosati; Shira Oyserman – Wilson Sonsini Goodrich & Rosati; Jeffrey Saper – Wilson Sonsini Goodrich & Rosati; Allison Spinner – Wilson Sonsini Goodrich & Rosati; David Thomas – Wilson Sonsini Goodrich & Rosati;

Law Firms: Latham & Watkins; Wilson Sonsini Goodrich & Rosati;

Clients: Bank of America Securities; Jfrog Inc; JP Morgan Chase & Co.; Morgan Stanley;

Author: Ambrogio Visconti