Freee K.K.’s ¥34.9 Billion Equity Offering

Simpson Thacher represented joint lead managers in the offering.

The transaction consisted of a primary offering of 4,000,000 newly issued shares of common stock, a secondary offering of 481,800 shares of common stock by DCM VI, L.P. and A-Fund, L.P. as selling shareholders, and an over-allotment option of an additional 600,000 shares of freee K.K. The offering raised ¥34,991 million in gross proceeds.

Morgan Stanley & Co. International plc, Merrill Lynch International and Daiwa Capital Markets Europe Limited acted as joint lead managers in the offering.

freee K.K. is a leading pioneer of cloud-native, integrated accounting, payroll and other related software solutions for small- and mid-sized businesses in Japan.

The Simpson Thacher team included Alan Cannon (Picture), David Snowden and Xochitl Romo (Capital Markets); Jon Cantor and Scott Grundei (Tax); and Jennifer Neilsson (Executive Compensation and Employee Benefits).

Involved fees earner: Alan Cannon – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Scott Grundei – Simpson Thacher & Bartlett; Jennifer Neilsson – Simpson Thacher & Bartlett; Xochitl Romo – Simpson Thacher & Bartlett; David Snowden – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Daiwa Capital Markets Europe Limited; Merrill Lynch International; Morgan Stanley;

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Sonia Carcano

Author: Sonia Carcano