Davis Polk advised Morgan Stanley & Co. LLC as the sole underwriter in an SEC-registered public offering of 2,500,000 shares of common stock, par value $0.001 per share, of Einstein Noah Restaurant Group, Inc., sold by Greenlight Capital, L.P., Greenlight Capital Qualified, L.P. and Greenlight Capital Offshore Partners, as the selling stockholders. The net proceeds from the offering totaled approximately $42.5 million.

Einstein Noah Restaurant Group, Inc. is a Delaware corporation operating primarily under the Einstein Bros. Bagels, Noah’s New York Bagels and Manhattan Bagel Company brands. They are the largest owner/operator, franchisor and licensor of bagel specialty restaurants in the United States.

The Davis Polk corporate team included partner John G. Crowley and associates Liang Dong, Rashna Bhojwani and law clerk Darren Jackson. The tax team included partner Michael Farber and associate Catherine Paskoff Chang. Sorina Delia Lazar was the legal assistant on the transaction. All members of the Davis Polk team are based in the New York and Menlo Park offices.



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