The Firm recently represented the underwriters, led by J.P. Morgan Securities LLC and Citigroup Global Markets Inc., in connection with the public offering of 3,795,000 shares of common stock (including 495,000 shares sold pursuant to the underwriters’ exercise of their option to purchase additional shares) of Cubic Corporation (NYSE: CUB). The gross proceeds from the offering were $227.7 million. Cubic intends to use the net proceeds from the offering to repay a portion of its outstanding borrowings under its revolving credit agreement used to finance the acquisition of Trafficware, and the remainder for general corporate purposes.
Cubic designs, integrates and operates systems, products and services focused in the transportation, defense training and secure communications markets. Cubic Transportation Systems is a leading integrator of payment and information technology and services to create intelligent travel solutions for transportation authorities and operators. Cubic Global Defense Systems is a leading provider of live, virtual, constructive and game-based training solutions to the U.S. and allied forces.
The Simpson Thacher team for the transaction included David Azarkh and Conor Colasurdo (Capital Markets); Jonathan Cantor and Christopher Murray (Tax); Larry Moss (Executive Compensation and Employee Benefits); Lori Lesser and Alysha Sekhon (Intellectual Property); Abram Ellis and Mark Skerry (Regulatory); Timothy Mulvihill (Environmental); and Jennie Getsin (FINRA).