WillScot Mobile Mini’s Underwritten Secondary Offering By Sapphire Holding S.à r.l.

WillScot Mobile Mini's Underwritten Secondary Offering By Sapphire Holding S.à r.l.

Allen & Overy advised WillScot Mobile Mini Holdings Corp. (NASDAQ: WSC) on the deal.

The underwritten secondary offering was made by WillScot’s principal shareholder, Sapphire Holding S.à r.l., an entity controlled by TDR Capital (the “Selling Stockholder”), at a price to the public of $27.20 per share. The Selling Stockholder granted the underwriter a 30-day option to purchase up to an additional 1,912,500 shares, which was exercised in full on March 4, 2021. WillScot did not sell any shares in the Offering and did not receive any of the proceeds from the Offering. Morgan Stanley acted as sole underwriter of the Offering.

Concurrently with the Offering, the A&O U.S. Capital Markets team advised WillScot Mobile Mini on its repurchase of 2,750,000 shares of its common stock directly from the Selling Stockholder (the “Stock Repurchase”) at a price per share equal to the price per share paid by the underwriter to the Selling Stockholder in the Offering. The Offering and the Stock Repurchase closed on March 4, 2021.

The A&O deal team was led by New York partner Jeff Pellegrino (Picture) with support from counsel Tom Mosher, associates Liza Murray, Luke Sperduto and Greg Klein and law clerk Kevin Leitao.

Involved fees earner: Gregory Klein – Allen & Overy; Tom Mosher – Allen & Overy; Eliza Murray – Allen & Overy; Jeffrey Pellegrino – Allen & Overy; Luke Sperduto – Allen & Overy;

Law Firms: Allen & Overy;

Clients: WillScot Corporation;

Author: Martina Bellini