Fenwick & West advised Remitly on the deal. Davis Polk advised several underwriters on the deal.
Remitly Global, Inc. (Nasdaq: RELY), a mobile-first provider of remittances and financial services for immigrants, announced its initial public offering of 12,162,777 shares of its common stock to the public.
The offering consisted of 7,000,000 shares of common stock offered by Remitly and 5,162,777 shares of common stock offered by certain of Remitly’s existing stockholders, at a public offering price of $43.00 per share. The offering is expected to close on September 27, 2021, subject to the satisfaction of customary closing conditions.
In addition, the underwriters have been granted a 30-day option to purchase up to an additional 1,824,417 shares of common stock, consisting of 1,269,627 shares from Remitly and 554,790 shares from certain of Remitly’s existing stockholders, at the initial public offering price, less underwriting discounts and commissions.
Goldman Sachs & Co. LLC and J.P. Morgan acted as the lead book-running managers for the offering, with Barclays, Citigroup and William Blair acting as joint book-running managers. JMP Securities, KeyBanc Capital Markets, Wolfe I Nomura Strategic Alliance, Cabrera Capital Markets LLC and Blaylock Van, LLC acted as co-managers.
The Fenwick transaction team included corporate partners Jamie Evans (Picture), Bill Bromfield, Katherine Duncan, Aman Singh and Thomas Kang and associates Angela Park, Rich Minice, Leeza Soulina, Riddhi Adhikari and Annie Omata; privacy and cybersecurity counsel Helen Christakos; executive compensation and employee benefits partner Shawn Lampron and counsel Laura McIntyre; and technology transactions counsel Ryan Straus and associate Kevin Kirby.
The Davis Polk corporate team included partners Byron B. Rooney and Shane Tintle and associate Joanna Sedlak. Partner Margaret E. Tahyar and associate Russell Quarles provided regulatory advice. The tax team included partner Mario J. Verdolini and associate Eitan Ulmer. Associates Christopher C. Woller and Marisa Elena Bannon provided intellectual property advice. Counsel Marcie A. Goldstein provided FINRA advice.
Involved fees earner: Marisa Elena Bannon – Davis Polk & Wardwell; Marcie Goldstein – Davis Polk & Wardwell; Russell Quarles – Davis Polk & Wardwell; Byron Rooney – Davis Polk & Wardwell; Joanna Sedlak – Davis Polk & Wardwell; Margaret Tahyar – Davis Polk & Wardwell; Shane Tintle – Davis Polk & Wardwell; Eitan Ulmer – Davis Polk & Wardwell; Mario Verdolini – Davis Polk & Wardwell; Christopher Woller – Davis Polk & Wardwell; Riddhi Adhikari – Fenwick & West LLP; William Bromfield – Fenwick & West LLP; Helen Christakos – Fenwick & West LLP; James Evans – Fenwick & West LLP; Thomas Kang – Fenwick & West LLP; Kevin Kirby – Fenwick & West LLP; Shawn Lampron – Fenwick & West LLP; Laura McIntyre – Fenwick & West LLP; Rich Minice – Fenwick & West LLP; Annie Omata – Fenwick & West LLP; Angela Park – Fenwick & West LLP; Aman Singh – Fenwick & West LLP; Leeza Soulina – Fenwick & West LLP; Ryan Straus – Fenwick & West LLP;
Clients: Barclays Capital ; Blaylock Van, LLC; Cabrera Capital Markets; Citigroup Global Markets Ltd; Goldman Sachs & Co.; J.P. Morgan Securities LLC; JMP Securities LLC; KeyBanc Capital Markets; Nomura Securities International Inc.; Remitly, Inc.; William Blair & Company ;