The Firm represented the underwriters, led by RBC Capital Markets, LLC and J.P. Morgan Securities LLC, in a registered public offering by American Equity Investment Life Holding Company of 9,890,000 shares of common stock, which included 5,590,000 shares offered pursuant to certain forward sale agreements. Under the forward sale agreements, RBC Capital Markets, LLC, as agent for Royal Bank of Canada, as a forward counterparty, borrowed such 5,590,000 shares from third parties and sold those shares to the underwriters.
American Equity Investment Life Holding Company, headquartered in West Des Moines, Iowa, issues fixed annuity and life insurance products, with a primary emphasis on the sale of fixed index and fixed rate annuities.
The Simpson Thacher team included John C. Ericson, John D. Lobrano, Tony Rim and Katie M. McDonough (Capital Markets); Joyce Y. Xu, Lihua Chen and Andrew Des Rault (Derivatives); Jonathan Cantor and Jodi L. Sackel (Tax); Steven R. DeLott (Insurance); Noreen Lavan (Environmental); Larry Moss and Holly S. Gurian (Executive Compensation and Employee Benefits); and Jennie Getsin (FINRA and Blue Sky).