Simpson Thacher represented the underwriters, led by BofA Securities, Inc. and Credit Suisse Securities (USA) LLC among others, in connection with the initial public offering by JOANN Inc. (“Joann”) of 10,937,500 shares of its common stock, sold by Joann and certain selling shareholders, which together raised approximately $131 million in gross proceeds. The initial public offering closed on March 16, 2021.
Joann is the nation’s category leader in sewing and fabrics, and one of the fastest growing players in the arts and crafts industry.
The Simpson Thacher team for this transaction included William Brentani, David Azarkh, Matthew Hart, Carlie Marks and Estell Lee (Capital Markets); Andrew Blau, Alisa Tschorke and Allison Sweeney (Executive Compensation and Employee Benefits); Karen Hsu Kelley (Public Company Advisory Practice); Jonathan Cantor and Kris Liu (Tax); Jennie Getsin (FINRA & Blue Sky); Michael Isby and Timothy Mulvihill (Environmental); Abram Ellis and Avia Gridi (Regulatory); Genevieve Dorment, Alysha Sekhon and Kate Mirino (IP); and Jeanne Annarumma (ERISA).