Crocs and Selling Stockholders Complete $244 Million Secondary Offering
11.05.19
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Simpson Thacher represented selling stockholders affiliated with The Blackstone Group Inc. (the “Selling Stockholders”) in connection with a public offering of the common stock of Crocs, Inc. (Nasdaq: CROX) (“Crocs”).
The Selling Stockholders sold 6,864,545 shares of common stock in the offering. The Selling Stockholders received all the net proceeds from the offering.
Morgan Stanley & Co. LLC acted as sole underwriter for the offering.
Crocs is engaged in the design, development, worldwide marketing, distribution and sale of casual lifestyle footwear and accessories for men, women and children. Crocs strives to be the world leader in innovative casual footwear for women, men and children, combining comfort and style with a value that consumers want. The vast majority of shoes within Crocs’ collection contain Croslite™ material, a proprietary, molded footwear technology delivering extraordinary comfort with each step.
The Simpson Thacher team included Kirsten Harmon (Capital Markets); Sophie Staples (Tax); and James Rapp (Public Company Advisory Practice).