Heidi Mayon

Simpson Thacher hosted its 2024 Healthcare Perspectives Event virtually on January 5. The webinar, which was held ahead of JPMorgan’s annual healthcare conference, included a discussion with Partners Vanessa Burrows and Heidi Mayon alongside Michelle Francis, Senior Corporate Counsel at Microsoft, Rose Church, Assistant General Counsel at Microsoft, and Emily Schlesinger, Assistant General Counsel at Microsoft. Among the topics they covered were evolving trends in the use of artificial intelligence, use cases and supported products and services, regulation of AI, and implementation of Responsible AI in the healthcare industry.

Aug 1

1 min

Satellite maker York Space Systems began trading publicly Thursday after raising $629 million in its upsized initial public offering, joining Brazilian digital banking platform PicPay and insurance platform Ethos Technologies, both of which also made their public debuts Thursday. York sold 18.5 million shares for $34 apiece, marking the high end of the company's proposed range of $30 to $34. The company began trading on the New York Stock Exchange on Thursday under ticker symbol YSS, and the offering is expected to close Friday. Kirkland & Ellis LLP advised the company, while Davis Polk & Wardwell LLP advised the underwriters. At pricing, the company commands a fully diluted market value of $4.3 billion. Founded in 2012, York is a space and defense company that provides a suite of mission-critical solutions for national security, government and commercial customers. According to a filing with the U.S. Securities and Exchange Commission, the company says it is the number one provider to the U.S. Department of Defense's Proliferated Warfighter Space Architecture (PWSA) program by spacecraft operating in orbit, number of contracts and variety of contract types. The company, which is backed by private equity firms BlackRock and AE Industrial Partners, originally planned to offer 16 million shares in its public offering, but ended up selling 18.5 million. York also granted the underwriters a 30-day option to purchase up to an additional 2.775 million shares at the IPO price. Meanwhile, Brazilian digital banking platform PicPay began trading on the Nasdaq under ticker symbol PICS on Thursday after raising $434 million in its IPO. The company offered 22.9 million shares at $19 each, the high end of the proposed $16 to $19 range. At pricing, the company commands a $2.5 billion market value. The offering is expected to close Friday. White & Case LLP advised the company, while Davis Polk advised the underwriters. PicPay says it is the second-largest digital bank in Brazil by number of customers. The company began with instant payments and the use of QR codes, and has since grown into a digital bank that offers financial products and services like digital wallets, credit cards, loans and buy now, pay later offerings, a statement said. The company filed plans for its IPO at the beginning of the year, but at the time did not indicate the number of shares to be offered or a proposed price range for the offering. Growth equity firm Bicycle Capital, along with other anchor investors, indicated an interest in buying $75 million worth of shares in the offering. The company also granted its underwriters a 30-day option to purchase up to an additional roughly 3.4 million Class A common shares at the IPO price. Life insurance technology platform Ethos Technologies also began trading on the Nasdaq on Thursday under ticker symbol LIFE after raising approximately $200 million in its IPO. The company offered 10.5 million shares for $19 each, the midpoint of the proposed $18 to $20 range. Of the shares being offered, roughly 5.1 million were sold by Ethos and around 5.4 million were sold by existing shareholders, according to an SEC filing. Cooley LLP advised Ethos, while Simpson Thacher & Bartlett LLP advised its underwriters. Ethos is a life insurance technology platform that says its goal is to protect families by democratizing access to life insurance. The company is backed by venture capital firms Sequoia Capital and Accel. The offering is expected to close Friday. The Kirkland team advising York on its IPO included Robert Hayward, Kevin Frank and Ashley Sinclair. The Davis Polk team advising York's underwriters included Michael Kaplan, Stephen Byeff and Steven Glendon. The White & Case team advising PicPay on its IPO includes Donald Baker, John Guzman and Karen Katri. The Davis Polk team advising PicPay's underwriters includes Manuel Garciadiaz and Drew Glover. The Cooley team advising Ethos includes Matthew Bartus, Jon Avina, Jean Park and Milson Yu. The Simpson Thacher team advising Ethos' underwriters includes John Ericson and Heidi Mayon.

Jan 29

3 min

The Firm represented UKG Inc. (“UKG”) in connection with its Rule 144A and Regulation S offering of $2.5 billion aggregate principal amount of 6.875% Senior Secured Notes due 2031 (the “Notes”).~~In addition, the Firm represented UKG in connection with a restatement of its first lien senior secured credit agreement, which provides for (i) a new 7-year $5.385 billion senior secured first lien term loan facility and (ii) a 5-year $945 million senior secured first lien revolving credit facility (collectively, the “New Senior Secured Credit Facilities”).~~UKG intends to use to use the net proceeds from the Notes offering, together with borrowings under the New Senior Secured Credit Facilities to (i) refinance its existing first lien credit facilities, (ii) repay a portion of its second lien term loan facility and (iii) pay fees and expenses related to the Notes offering and the New Senior Secured Credit Facilities.~~UKG is a leading global provider of human capital management solutions that power businesses to build great places to work. UKG’s solutions offer a differentiated combination of comprehensive human capital management Software-as-a-Service suites, modern scalable technology, distinct expertise in complex workforce management and dedicated customer focus that together address the complete human resources, payroll, time and scheduling needs of large enterprises, mid-market companies and small and midsize businesses.~~The Simpson Thacher team included William Brentani, Heidi Mayon, Hui Lin, Anna LeGrett and Ramin Tabrizi (Capital Markets); Brian Steinhardt, Benjamin Persina and Joel Kushner (Credit); Jon Pall (Collateral); Corina Holland, Courtney Welshimer and Mark Natividad (Intellectual Property); and Michael Mann and Michael Leitner (Tax).

Sep 2

1 min

Partner Heidi Mayon was quoted in a Bloomberg article titled, “Surge of Successful Tech IPOs Gives Hope to Silicon Valley Startups,” which discussed some of the recent successful debuts of tech startups in the public markets. When discussing the outlook for tech IPOs, Heidi noted that the recent activity was “very encouraging for people looking to start a process.” She also commented that she expects many tech companies to look at the recent performance as a sign to get preparations underway.~~To read the full article, please click here (subscription required).

May 23

1 min

Capital Markets Partner Heidi Mayon has been named among the Daily Journal’s “Top Women Lawyers” for 2025. Heidi was recognized for work advising on noteworthy recent listings, including advising the founders of ServiceTitan on the company’s initial public offering, as well as advising the underwriters in the Astera Labs IPO, which the Daily Journal noted was “one of the year’s largest public offerings and among the first semiconductor IPOs driven by AI growth.”~~The Daily Journal’s “Top Women Lawyers” series honors the leading women attorneys practicing in California. To learn more, and to read Heidi’s full profile, please click here (subscription required).~~

May 29

1 min