Simpson Thacher represented affiliates of Silver Lake in connection with the purchase of $1 billion of 1.75% Convertible Senior Notes due 2024 of Motorola Solutions, Inc. (“MSI”) and the concurrent conversion of $600 million in aggregate principal amount of the 2% Convertible Senior Notes due 2020 of MSI (the “2020 Notes”) and repurchase by MSI of the remaining $200 million in aggregate principal amount of the outstanding 2020 Notes owned by affiliates of Silver Lake.
Simpson Thacher also represented affiliates of Silver Lake in connection with an underwritten secondary offering of 5,471,271 shares of common stock of MSI issued upon conversion of the 2020 Notes for gross proceeds of approximately $961 million.
Morgan Stanley & Co. LLC acted as the sole underwriter of the offering.
MSI is a leading global provider of mission-critical communications. MSI’s technology platforms in communications, command center software, services and video security, and analytics make cities safer and help communities and businesses thrive.
The Simpson Thacher team included Dan Webb, Rich Capelouto, Naveed Anwar, Kelli Schultz, Usman Arain, Jeremy Bethel and Estell Lee (Corporate); Jennifer Levitt, Mimi Cheng and Jesse Feng (Credit); Jonathan Lindabury and Caitlin L. Wood (Derivatives); Jennifer Nadborny and James I. Rapp (Public Company Advisory Practice); Jonathan Karen and Jordan Cross (Private Funds).