Simpson Thacher Represents Underwriters in Secondary Offering of 11 Million Shares of Common Stock of The Michaels Companies, Inc.
07.20.16
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The Firm recently represented Morgan Stanley & Co. LLC, as underwriter in connection with a registered public offering of 11,000,000 shares of common stock of The Michaels Companies, Inc. (“Michaels”) (NASDAQ: MIK). A total of approximately $304.8 million in proceeds before expenses was raised in the offering. Affiliates of Bain Capital Partners, LLC and The Blackstone Group and certain other selling stockholders received all of the proceeds from the offering.
Michaels is the largest arts and crafts specialty retailer in North America based on store count as well as a market-leading vertically integrated custom framing business.
The Simpson Thacher team included Mark Brod, John Ericson, Brian Rosenzweig and Nicole Annunziato (Capital Markets); Michael Isby and Timothy Mulvihill (Environmental); Jamin Koslowe and Nadine Mompremier (Executive Compensation and Employee Benefits); Andrew Pagliughi (FINRA); Marcela Robledo (Intellectual Property); and Jonathan Cantor and Michelle Goldring (Tax). Summer Associate Julie Siegel also provided valuable assistance.