Simpson Thacher represented the thirty-seven underwriters, led by Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC, in connection with the initial public offering of Airbnb, Inc. (“Airbnb”), the most widely anticipated and 2nd largest U.S. initial public offering of the year. A total of 56,323,531 shares of Class A common stock were sold in the offering, consisting of 55,000,000 shares sold by Airbnb and 1,323,531 shares sold by selling stockholders, inclusive of the underwriters’ full exercise of their option to purchase additional shares. The offering raised approximately $3.83 billion in gross proceeds. Shares of Airbnb are now listed on The Nasdaq Global Select Market under the ticker symbol “ABNB.” The initial public offering closed on December 14, 2020.
Based in San Francisco, California, Airbnb has enabled home sharing at a global scale and created a new category of travel.
The Simpson Thacher team included Kevin Kennedy, Kelli Schultz, Adam Spaulding and Audrey Kim (Capital Markets); Jennie Getsin (FINRA); Adam Cohen and Spencer Sloan (Payments); Nancy Mehlman and Kris Liu (Tax); Tristan Brown and Alyssa Ohanian (Executive Compensation and Employee Benefits); Lori Lesser, Corina McIntyre and Bori Celia Ha (IP); Steven DeLott (Insurance); and Rajib Chanda, Ryan Brizek and Debra Sutter (1940 Act). Associates Michaela Dion and William Perrone also provided valuable assistance.