The Firm represented Blue Buffalo Pet Products, Inc. (“Blue Buffalo”) in connection with the initial public offering of 38,942,220 shares of its common stock. The shares began trading on the NASDAQ Global Select Market on July 22, 2015, under the ticker symbol “BUFF.”
Certain existing stockholders of Blue Buffalo, including Invus, L.P., sold an aggregate of 38,906,286 shares of common stock in the offering at an initial public offering price of $20 per share, including 5,074,732 shares of common stock pursuant to the full exercise of the underwriters’ option to purchase additional shares. In addition, Blue Buffalo issued up to 35,934 shares to approximately 1,700 non-management employees at no cost to them.
J.P. Morgan Securities LLC and Citigroup Global Markets Inc. acted as joint bookrunning managers for the offering and as representatives of the underwriters. Barclays Capital Inc., Deutsche Bank Securities Inc. and Morgan Stanley & Co. LLC also acted as joint bookrunning managers for the offering. Wells Fargo Securities, LLC and LOYAL3 Securities, Inc. acted as co-managers for the offering.
Blue Buffalo is a natural pet products company that makes natural foods and treats for dogs and cats under the BLUE Life Protection Formula, BLUE Wilderness, BLUE Basics and BLUE Freedom lines, and cat litter under the BLUE Naturally Fresh line.
The Simpson Thacher team included Kenneth Wallach, Hui Lin, Siobhan Lam, Jessica Asrat and Nakita Cuttino (Capital Markets); James Rapp and Amanda Weiss (Public Company Advisory Practice); Marcy Geller and Taylor Alexander (Tax); David Rubinsky, Jamin Koslowe, Patricia Adams and Nadine Mompremier (Executive Compensation and Employee Benefits); Jasmine Kaufman and Shimeng Cheng (Intellectual Property); and Adeeb Fadil and Noreen Lavan (Environmental).