National Vision’s $283.3 Million Common Stock Offering

Simpson Thacher represented National Vision Holdings, Inc. and KKR Vision Aggregator L.P., as selling stockholder, in connection with a secondary offering of common stock.

The offering of 9,149,908 shares of National Vision’s common stock raised approximately $283.3 million in gross proceeds, with the selling stockholder receiving all of the proceeds from the offering. Concurrently, National Vision effected a $25 million share repurchase from the underwriter of the secondary offering out of the shares sold in the offering.

National Vision is one of the largest optical retail companies in the United States with over 1,100 retail stores in 44 states plus the District of Columbia and Puerto Rico. With a mission of helping people by making quality eyecare and eyewear more affordable and accessible, National Vision operates five retail brands: America’s Best Contacts & Eyeglasses, Eyeglass World, Vision Centers inside select Walmart stores, Vista Opticals inside Fred Meyer stores and on select military bases, and several e-commerce websites, offering a variety of products and services for customers’ eyecare needs.

The Simpson Thacher team included Joe Kaufman (Picture), Sunny Cheong, Christine Turner and Crystal Oparaeke (Capital Markets); Jennifer Nadborny and Joia Lee (Public Company Advisory Practice); David Rubinsky, Eric Wolf and Caitlin Lucey (Executive Compensation and Employee Benefits); and Robert Holo, Sophie Staples and Morgan Otway (Tax).

Involved fees earner: Sunny Cheong – Simpson Thacher & Bartlett; Robert Holo – Simpson Thacher & Bartlett; Joseph Kaufman – Simpson Thacher & Bartlett; Joia Lee – Simpson Thacher & Bartlett; Caitlin Lucey – Simpson Thacher & Bartlett; Jennifer Nadborny – Simpson Thacher & Bartlett; Crystal Oparaeke – Simpson Thacher & Bartlett; Morgan Otway – Simpson Thacher & Bartlett; David Rubinsky – Simpson Thacher & Bartlett; Sophie Staples – Simpson Thacher & Bartlett; Christine Turner – Simpson Thacher & Bartlett; Eric Wolf – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: KKR Vision Aggregator; National Vision Inc.;

Author: Ambrogio Visconti