Eastman Kodak ‘s $200 Million Convertible Preferred Stock Private Placement


Shearman & Sterling represented the purchasers, funds managed by Southeastern Asset Management, Inc., in connection with the private placement of $200 million of newly created 5.50% Series A Convertible Preferred Stock by Eastman Kodak.

The shares were sold to accredited investors in a private investment in public equity (PIPE) transaction with registration rights.

Eastman Kodak Company provides hardware, software, consumables, and services to customers in various markets worldwide. The company, led by Jeffrey J. Clarke, is based in Rochester (NY).

The Shearman & Sterling team included partners Robert Evans III (Picture) (New York-Capital Markets) and Michael Shulman (Washington, DC-Tax); counsel Kelly Karapetyan (New York-Antitrust); and associates Minsoo Kwon and Hillary Bailey (both New York-Capital Markets).

Involved fees earner: Robert Evans – Shearman & Sterling; Minsoo Kwon – Shearman & Sterling; Hillary Bailey – Shearman & Sterling; Michael Shulman – Shearman & Sterling; Kelly Karapetyan – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: Southeastern Asset Management Inc.;

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Author: Ambrogio Visconti