SendGrid, Inc. $171.8 Million Follow-On Offering

Davis Polk advised the joint book-running managers and representatives of the several underwriters in connection with a follow-on offering of 7,514,369 shares of common stock by SendGrid, Inc. and certain of SendGrid’s stockholders for total gross proceeds of $171.8 million, including the full exercise by the underwriters of their option to purchase additional shares of common stock from certain of the selling stockholders.

Morgan Stanley and J.P. Morgan acted as underwrites on the offering.

SendGrid’s common stock is listed on the New York Stock Exchange under the symbol “SEND.”

Based in Denver, Colorado, SendGrid is a digital communication platform enabling businesses to engage with their customers via email reliably, effectively and at scale.

The Davis Polk corporate team included partner Sarah K. Solum (Picture) and associates Donald K. Lang and Dylan Service. Partner Rachel D. Kleinberg and associate M. Brett Cameron provided tax advice. Counsel Michelle Ontiveros Gross and associate Jason J. Bang provided intellectual property and technology advice. Counsel Marcie A. Goldstein provided FINRA advice.

Involved fees earner: Sarah K. Solum – Davis Polk & Wardwell; Donald Lang – Davis Polk & Wardwell; Dylan Service – Davis Polk & Wardwell; Rachel Kleinberg – Davis Polk & Wardwell; Brett Cameron – Davis Polk & Wardwell; Michelle Ontiveros Gross – Davis Polk & Wardwell; Jason Bang – Davis Polk & Wardwell; Marcie Goldstein – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: JP Morgan; Morgan Stanley;

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Author: Ambrogio Visconti