The Firm recently represented Merrill Lynch, Pierce, Fenner & Smith Incorporated, as underwriter, in connection with a registered public offering of 18,000,000 shares of common stock of The Michaels Companies, Inc. (“Michaels”) (NASDAQ: MIK). A total of approximately $383 million in proceeds before expenses was raised in the offering. Affiliates of The Blackstone Group 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, John O’Connell, Grady Chang and Matthew Kemp (Capital Markets); Michael Isby and Timothy Mulvihill (Environmental); Jamin Koslowe (Executive Compensation and Employee Benefits); Andrew Pagliughi (FINRA); Linda Nyberg (Intellectual Property); and Jonathan Cantor and Michelle Goldring (Tax).