Sonos, Inc.’s $239.6 Million Initial Public Offering

Simpson Thacher represented the underwriters, led by Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC, in the initial public offering of Sonos, Inc. (“Sonos”).

A total of 15,972,221 shares of common stock were sold in the offering, consisting of 6,388,888 shares sold by Sonos and 9,583,333 shares sold by selling stockholders, inclusive of the underwriters’ full exercise of their option to purchase additional shares. The offering raised gross proceeds of approximately $239.6 million. Sonos’ shares are listed on the Nasdaq Global Select Market under the ticker symbol “SONO.”

Sonos is the inventor of wireless multi-room home audio and the leading home sound system for consumers, content partners and developers. Sonos’ initial public offering priced at $15 per share, with shares closing up more than 32% on the first day of trading.

The Simpson Thacher team included Kevin Kennedy (Picture), Kim de Glossop and Jeremy Bethel (Capital Markets); Katharine Moir and Brian Mendick (Tax); Amber Harezlak (Intellectual Property); and Jennie Getsin (FINRA and Blue Sky).

Involved fees earner: Kevin Kennedy – Simpson Thacher & Bartlett; Kim de Glossop – Simpson Thacher & Bartlett; Jeremy Bethel – Simpson Thacher & Bartlett; Katharine Moir – Simpson Thacher & Bartlett; Brian Mendick – Simpson Thacher & Bartlett; Amber Harezlak – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Goldman, Sachs & Co.; Morgan Stanley;

Author: Ambrogio Visconti