The Firm recently represented Goldman, Sachs & Co. and J.P. Morgan Securities LLC as the initial purchasers in connection with Square, Inc.’s (“Square”) offering of $440 million aggregate principal amount of 0.375% Convertible Senior Notes due 2022, including an overallotment option of $40 million aggregate principal amount. The notes were offered to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933.
The Firm also represented Goldman, Sachs & Co., J.P. Morgan Securities LLC and RBC Capital Markets, LLC in connection with convertible note hedge transactions and warrant transactions relating to shares of Class A common stock of Square, entered into concurrently with such notes offering.
Square creates tools that help sellers of all sizes start, run and grow their businesses. 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. Businesses and individuals use Square Cash, an easy way to send and receive money, as well as Caviar, a food delivery service for popular restaurants. Square was founded in 2009 and is headquartered in San Francisco, with offices in the United States, Canada, Japan and Australia.
The Simpson Thacher team included Dan Webb, Karen Reyes, Meredith Pressfield and Blake Meyer (Capital Markets); Jonathan Lindabury and Lihua Chen (Derivatives); Tristan Brown and Paul Barrus (Executive Compensation and Employee Benefits); Marcy Geller and Michael Badain (Tax); Marcela Robledo and Lawrence Huang (IP); and Jennie Getsin and Andrew Pagliughi (Blue Sky).