Dewey J. Kang

Progress Software Corporation (NASDAQ: PRGS), a company that provides enterprise software products for the development, deployment, and management of high-impact business applications, closed on March 1, 2024 a private offering of US$450 million aggregate principal amount of 3.50% Convertible Senior Notes due 2030 to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, which included the full exercise of the initial purchasers’ option to purchase an additional US$50.0 million aggregate principal amount of the Notes. Latham & Watkins LLP represented the initial purchasers in the offering with a capital markets team led by New York/Los Angeles partner Greg Rodgers and New York partner Erika Weinberg, with associates Ryan Gold, Claire Solimine, Abid Ahmed, Sabrina Singh, and Ilan Lavian*. Advice was also provided on tax matters by New York partner Bora Bozkurt; on intellectual property matters by New York counsel Carrie Girgenti, with associate Dewey Kang; on data privacy matters by Bay Area partner Robert Blamires, with associates Kathryn Parsons-Reponte and Priyanka Krishnamurthy; and on equity derivatives matters by New York partner Catherine Lee and New York counsel Christopher Yu, with associate Hera Liao. *Admitted to practice in New York only.~~

Mar 4

1 min

Super Micro Computer, Inc. (Nasdaq: SMCI), a global leader in Application-Optimized Total IT Solutions, has announced the pricing of its previously announced underwritten public offering of 2,100,700 shares of its common stock, which includes 100,700 shares offered by certain selling stockholders, at a public offering price of US$262.00 per share. Additionally, the Company has granted the underwriters a 30-day option to purchase up to an additional 315,105 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds to Supermicro are expected to be US$524 million before deducting underwriting discounts, commissions and estimated offering expenses, and assuming no exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on or about December 5, 2023, subject to customary closing conditions. Latham & Watkins LLP represents the underwriters in the offering with a capital markets team led by New York/Los Angeles partners Greg Rodgers and Brittany Ruiz, with associates Danny Shulman, Catherine Shaw, and Will Coughlin. Advice was also provided on tax matters by New York partner Jiyeon Lee-Lim, with associate Claire Park*; on intellectual property matters by New York partner Jessica Cohen, with associate Dewey Kang; on data privacy matters by Bay Area partner Heather Deixler, with associate Mitch Bennett**; on environmental matters by Los Angeles partner Aron Potash, with associate Cody Kermanian; and on sanctions matters by Washington, D.C. partner Les Carnegie, with associate Eric Green. *Admitted to practice in Massachusetts only. **Admitted to practice in New South Wales only.~~

Dec 1

1 min

Softys, a personal hygiene company with operations across Latin America and a wholly-owned subsidiary of Empresas CMPC S.A. headquartered in Chile, completed the acquisition of Ontex Group NV’s Mexican business, its plant in Puebla, and the trademarks used in that country, for a closing sum in Mexican pesos equivalent to approximately US$302 million. Latham & Watkins LLP advised on the transaction with a corporate deal team led by Global Chair of the Latin America Practice Tony Del Pino, with associate Francisco Lanusse. Advice was also provided on tax matters by partner Rene de Vera; and on IP matters by partner Jeff Tochner, with associates Sebastian Moss and Dewey Kang.~~

May 4

1 min

Super Micro Computer, Inc. (NASDAQ: SMCI), a Total IT Solution Manufacturer for AI, cloud, storage, and 5G/Edge, closed on February 27, 2024 an offering of US$1.725 billion aggregate principal amount of 0% convertible senior notes due 2029. The initial purchasers exercised in full their option to purchase an additional US$225 million aggregate principal amount of the Convertible Notes. The Convertible Notes were offered and sold to “qualified institutional buyers” pursuant to Rule 144A under the Securities Act of 1933. Latham & Watkins LLP represented the initial purchasers in the offering with a capital markets team led by New York/Los Angeles partners Greg Rodgers and Brittany Ruiz, and New York partner Andrew Blumenthal, with associates Andrew Bentz, Catherine Shaw, Steve Hess, and Daniel Weiss. Advice was also provided on tax matters by New York partner Bora Bozkurt, with associate Claire Park;* on intellectual property matters by New York partner Jessica Cohen, with associate Dewey Kang; on data privacy matters by Bay Area partner Heather Deixler, with associate Mitch Bennett;** on environmental matters by Los Angeles partner Aron Potash, with associate Cody Kermanian; and on sanctions matters by Washington, D.C. partner Les Carnegie, with associate Eric Green. *Admitted to practice in Massachusetts only. **Admitted to practice in New South Wales (Australia) only~~

Feb 27

1 min

PowerFlex, an EDF Renewables North America (EDFR) affiliate and a national provider of intelligent solar, storage, and electric vehicle charging solutions for commercial and industrial customers, announced a US$100 million investment from Manulife Investment Management (Manulife IM) on behalf of investors. Latham represented EDFR in connection with the sale of a minority stake in PowerFlex to Manulife IM, as well as a separate acquisition by Manulife IM of a portfolio of operational distributed solar generation and storage projects developed by PowerFlex. EDFR retains a controlling stake in PowerFlex following the closing. The Latham deal team was led by Washington, D.C./Houston M&A partner Ethan Schultz, with New York partner David Owen and associates Daley King, Matt de Bernardo, and Jordan Wampler. Advice was also provided on tax matters by Houston partner Jim Cole, with associate Andrea Herman; on employee benefits matters by Washington, D.C. partner Matt Conway; on antitrust matters by Washington, D.C. partner Jason Cruise; on energy regulatory matters by Washington, D.C. partner Tyler Brown; and on data and tech transactions matters by New York partner Steven Betensky, with associates Andrew Abokhair and Dewey Kang.~~

Dec 14

1 min