The Firm represented the underwriters, led by Goldman, Sachs & Co., Morgan Stanley and J.P. Morgan, in the initial public offering of Square, Inc. (“Square”). A total of 31,050,000 shares of Class A common stock were sold in the offering, including 1,350,000 shares by the Start Small Foundation, a charitable fund created by Square’s CEO and founder, Jack Dorsey. The offering, which was priced at $9 per share, raised approximately $280 million in gross proceeds. The shares began trading on the New York Stock Exchange on November 19, 2015 under the ticker symbol “SQ.”
Square’s point-of-sale service offers tools for every part of running a business, from accepting credit cards and tracking inventory, to real-time analytics and invoicing. Square also offers sellers financial and marketing services, including small business financing and customer engagement tools. Square is headquartered in San Francisco.
The Simpson Thacher team included Bill Hinman, Dan Webb, Jean Park, Meredith Pressfield and Tanvi Mirani (Capital Markets); Thomas Asmar and Paul Barrus (Executive Compensation and Employee Benefits); Noah Metz (Tax); Marcela Robledo and Michelle Morad (IP); and Jennie Getsin (FINRA/Blue Sky).