Simpson Thacher represented the underwriters in the initial public offering of Facebook, Inc., which is the largest technology offering ever and the third largest IPO in U.S. history. The offering priced at $38.00 per share, which was the top of the indicative price range, and opened for trading on NASDAQ on May 18, 2012. Facebook sold 180,000,000 shares and selling stockholders sold 241,233,615 shares. Facebook and the selling stockholders also gave the underwriters a 30-day option to purchase up to 63,185,042 additional shares to cover over-allotments. Morgan Stanley, J.P. Morgan, Goldman, Sachs & Co., BofA Merrill Lynch, Barclays, Allen & Company LLC, Citigroup, Credit Suisse and Deutsche Bank Securities were bookrunners for the offering.
The Simpson Thacher team for the transaction included: Bill Hinman, Dan Webb, Ryan Nolan, Ryan Coombs, Erin Rinn, Andrew Sparks and Alexis Orenstein (Capital Markets); Jeff Ostrow, Arun Goel, Keren Siman-Tov and Roxana Niktab (Intellectual Property); Tristan Brown, Paul Koppel and Jennifer Wolff (Executive Compensation and Employee Benefits); Katherine Moir and Dan Foster (Tax); and Jennie Getsin (Blue Sky).
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