Procore Technologies’ $634 Million Initial Public Offering

Latham & Watkins LLP represented the underwriters in the offering.

Procore Technologies, Inc., a leading provider of construction management software, has announced the pricing of its initial public offering of its common stock at a price of US$67 per share. Procore is offering 9,470,000 shares of its common stock. The shares began trading on the New York Stock Exchange on May 20, 2021 under the symbol “PCOR” and the offering is expected to close on May 24, 2021, subject to customary closing conditions. In addition, Procore has granted the underwriters a 30-day option to purchase up to an additional 940,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions.

Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Barclays Capital Inc., Jefferies LLC, Canaccord Genuity LLC, KeyBanc Capital Markets Inc., Oppenheimer & Co. Inc., Piper Sandler & Co., Stifel, Nicolaus & Company, Incorporated, and William Blair & Company, L.L.C. acted as underwriters for the offering.

Latham & Watkins LLP represented the underwriters in the offering with a corporate team led by Los Angeles partner Steven Stokdyk, with associates Gregory Van Buiten, Jennifer Pesce, and Tyler Pierce. Advice was provided on tax matters by Los Angeles/Orange County partner Sam Weiner; on benefits and compensation matters by Los Angeles/Orange County partner Michelle Carpenter; and on IP matters by Los Angeles partner Ghaith Mahmood.

Involved fees earner: Michelle Carpenter – Latham & Watkins; Ghaith Mahmood – Latham & Watkins; Jennifer Pesce – Latham & Watkins; Tyler Pierce – Latham & Watkins; Steven Stokdyk – Latham & Watkins; Gregory Van Buiten – Latham & Watkins; Samuel Weiner – Latham & Watkins;

Law Firms: Latham & Watkins;

Clients: Barclays Capital ; Canaccord Genuity; Goldman Sachs & Co.; J.P. Morgan Securities LLC; Jefferies; KeyBanc Capital Markets; Oppenheimer & Co; Piper Sandler; Stifel, Nicolaus & Company, Incorporated; William Blair & Company, L.L.C.;

Author: Martina Bellini