Simpson Thacher recently represented the initial purchasers in connection with InterDigital, Inc.’s (“InterDigital”) offering of $460 million aggregate principal amount of 3.5% Senior Convertible Notes due 2027, which includes the full exercise of an overallotment option of $60 million aggregate principal amount of notes. BofA Securities, Inc., Jefferies LLC and Goldman Sachs & Co. LLC, among others, acted as joint book-runner managers for the notes offering. William Blair & Company, L.L.C., Roth Capital Partners, LLC and Sidoti & Company, LLC acted as co-managers.
In connection with the notes offering, Simpson Thacher also represented certain dealers in related convertible note hedge transactions and warrant transactions in which InterDigital purchased call options and sold warrants covering the amount of common stock initially underlying the notes.
InterDigital is a global research and development company focused primarily on wireless, visual and related technologies. InterDigital designs and develops advanced technologies that enable connected, immersive experiences in a broad range of communications and entertainment products and services. InterDigital licenses its innovations worldwide to companies in a variety of industries, including wireless communications, consumer electronics, personal computer, and automotive. Since its founding in 1972, InterDigital’s engineers have designed and developed a wide range of innovations that are used in wireless products and networks, from the earliest digital cellular systems to 5G.
The Simpson Thacher team included Bill Brentani, Karen Reyes, William Perrone and Grace Bowers (Capital Markets); Jonathan Lindabury, Nathan Utterback and Danielle Robinson (Derivatives); Jonathan Cantor and Edward Grais (Tax); Bobbie Burrows, Benjamin Hart and Mark Natividad (Intellectual Property); and Jennie Getsin (Blue Sky). Summer Associate Dina Stumpf provided valuable assistance.