The Firm recently represented Goldman Sachs & Co. LLC, SMBC Nikko Securities America, Inc., Wells Fargo Securities, LLC, HSBC Securities (USA) Inc. and U.S. Bancorp Investments, Inc. as the initial purchasers in connection with Square, Inc.’s (“Square”) offering of $1 billion aggregate principal amount of 0.125% Convertible Senior Notes due 2025. The Notes were offered to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended.
The Firm also represented Goldman Sachs & Co. LLC, HSBC Bank USA, N.A., RBC Capital Markets, LLC and Société Générale in connection with convertible note hedge transactions and warrant transactions relating to shares of Class A common stock of Square, entered into concurrently with the offering.
Square offers a cohesive commerce ecosystem that helps sellers start, run and grow their businesses. Square enables sellers to accept card payments and also provides reporting and analytics, next-day settlement and chargeback protection. Square’s point-of-sale software and other business services help sellers manage inventory, locations and employees, access financing, engage customers and grow sales. Square was founded in 2009 and is headquartered in San Francisco, California, with offices in the United States, Canada, Japan, Australia, Ireland and the United Kingdom.
The Simpson Thacher team included Dan Webb, Karen Reyes, Jay Higdon and William Perrone (Capital Markets); Jonathan Lindabury and Nathan Utterback (Derivatives); Erin Murphy (Executive Compensation and Employee Benefits); Joseph Tootle (Tax); Marcela Robledo and Corina McIntyre (Intellectual Property); Stephen Blake, Marissa Lambert, Keith Noreika and Spencer Sloan (Regulatory); and Jennie Getsin (Blue Sky).