Pure Storage’s $500 Million Convertible Senior Notes Offering

Davis Polk advised the representatives of the initial purchasers in connection with a Rule 144A offering by Pure Storage, Inc. of $500 million aggregate principal amount of its 0.125% convertible senior notes due 2023.

In addition, Davis Polk advised counterparties to capped call transactions in connection with the offering.

J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc. and Barclays Capital Inc. acted as representatives of the several Initial Purchasers.

Pure Storage, Inc.’s data solutions enable SaaS companies, cloud service providers and enterprise and public sector customers to deliver real-time, secure data to power their mission-critical production, DevOps and modern analytics environments in a multi-cloud environment.

The Davis Polk corporate team included partner Alan F. Denenberg (Picture), counsel Jeffrey Gould and associates Xin (Anita) Guo and Billie Solomon. The tax team included partner Rachel D. Kleinberg and associate James Manzione. Counsel Michelle Ontiveros Gross provided intellectual property and technology advice. The equity derivatives team included partner Mark M. Mendez and associates Mark J. DiFiore and Brent T. Duddie.

Involved fees earner: Alan Denenberg – Davis Polk & Wardwell; Jeffrey Gould – Davis Polk & Wardwell; Xin Guo – Davis Polk & Wardwell; Billie Solomon – Davis Polk & Wardwell; Rachel Kleinberg – Davis Polk & Wardwell; James Manzione – Davis Polk & Wardwell; Michelle Ontiveros Gross – Davis Polk & Wardwell; Mark Mendez – Davis Polk & Wardwell; Mark DiFiore – Davis Polk & Wardwell; Brent Duddie – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Barclays Capital; Deutsche Bank Securities; Morgan Stanley; JP Morgan Securities;