Paycor’s $489 Million Initial Public Offering

Simpson Thacher advised the underwriters on the deal.

Paycor has completed its initial public offering of 21,275,000 shares of its common stock, inclusive of the underwriters’ full exercise of their option to purchase additional shares, which raised approximately $489 million in gross proceeds. The initial public offering closed on July 23, 2021.

The underwriters, led by Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, included Jefferies LLC, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Robert W. Baird & Co. Incorporated, Cowen and Company, LLC, JMP Securities, LLC, Needham & Company, LLC, Raymond James & Associates, Inc., Stifel, Nicolaus & Company, Incorporated, Truist Securities, Inc., Fifth Third Securities, Inc., Roberts & Ryan Investments, Inc.

Paycor is a leading Software-as-a-Service provider of human capital management solutions for small and medium-sized businesses.

The Simpson Thacher team included Art Robinson (Picture), Hui Lin and Ben Heriaud (Capital Markets); Andrew Blau and Garrick Ehlers (Executive Compensation and Employee Benefits); Karen Hsu Kelley (Public Company Advisory Practice); Sophie Staples and Abigail Hopper (Tax); Jennie Getsin (FINRA & Blue Sky); Michael Isby (Environmental); Genevieve Dorment, Corina McIntyre and Kate Mirino (IP); and Vanessa Burrows (Healthcare). Associate Anna Jarman also provided valuable assistance.

Involved fees earner: Andrew Blau – Simpson Thacher & Bartlett; Vanessa Burrows – Simpson Thacher & Bartlett; Genevieve Dorment – Simpson Thacher & Bartlett; Garrick Ehlers – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Benjamin Heriaud – Simpson Thacher & Bartlett; Abigail Hopper – Simpson Thacher & Bartlett; Karen Hsu Kelley – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Anna Jarman – Simpson Thacher & Bartlett; Hui Lin – Simpson Thacher & Bartlett; Corina McIntyre – Simpson Thacher & Bartlett; Kate Mirino – Simpson Thacher & Bartlett; Arthur Robinson – Simpson Thacher & Bartlett; Sophie Staples – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Cowen and Company; Credit Suisse Securities (USA) LLC; Deutsche Bank Securities; Fifth Third Securities, Inc.; Goldman Sachs & Co.; J.P. Morgan Securities LLC; Jefferies Finance LLC; JMP Securities LLC; Needham & Company; Raymond James & Associates, Inc.; Robert W. Baird & Co.; Roberts and Ryan Investments; Stifel, Nicolaus & Company, Incorporated; Truist Securities Inc. ;

Author: Martina Bellini