Evercore Executes Secondary Offering and Concurrent Share Repurchase
11.19.15
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The Firm represented Evercore Partners Inc. (NYSE: EVR), a leading independent investment banking advisory firm, in connection with a secondary offering by Mizuho Bank, Ltd. of 5,454,545 shares of Evercore’s Class A common stock that were issued upon the exercise in full of an outstanding warrant issued to Mizuho in 2008. 3,100,000 of the shares were offered to the public, and Evercore repurchased the remaining 2,354,545 shares. Evercore’s repurchase was funded primarily by the extension of $120 million of funds under a senior credit facility that Evercore entered into with the New York branch of Mizuho Bank Ltd. Mizuho Securities USA Inc. and Evercore Group L.L.C. acted as underwriters for the offering. The offering closed on November 10, 2015.
The Simpson Thacher team for this offering included Joshua Ford Bonnie, Matthew Levy, Katie M. McDonough and Annie Tsao (Capital Markets); Christopher Brown and Eric C. Schulman (Credit); and Marcy G. Geller, Jonathan Goldstein and George Davis (Tax).