Jonathan Ozner

Simpson Thacher represented Mozart Holdings, LP (“Medline”) in connection with a Rule 144A/Regulation S offering of $1 billion aggregate principal amount of 6.250% Senior Secured Notes due 2029 (the “Notes”) by certain of Medline’s subsidiaries.~~In addition, the Firm represented Medline in connection with an amendment to its existing credit agreement, which provided for the incurrence of new senior secured term loans in an aggregate principal amount of $6,142.8 million.~~Medline used the net proceeds of the Notes offering, together with cash on hand, to refinance all of the outstanding senior secured term loans under its existing credit agreement and to pay fees and expenses related to the offering and the new senior secured term loans.~~Medline is one of the nation’s largest suppliers of medical-surgical products to healthcare providers across the continuum of care.~~The Simpson Thacher team for the transaction included Jonathan Ozner, Benjamin Heriaud, Ben Pittenger and Ryan Brown (Capital Markets); Brian Gluck, Adam Moss, Kyle Nelson and Roey Vardi (Banking and Credit); Jon Pall (Collateral); Courtney Welshimer and Rachelle Broida (Intellectual Property); Vanessa Burrows and Nawa Lodin (Healthcare); Michael Mann and Eli Shalam (Tax); Ari Goldman, Erik Quarfordt and Alexa Effron (Real Estate); and Gary Tashjian and Guanxiong Xu (Executive Compensation and Employee Benefits).

Mar 29

1 min

The Firm represented Flutter Entertainment plc (“Flutter”) in connection with its additional listing of ordinary shares on the New York Stock Exchange under the ticker symbol “FLUT.”~~Flutter is the world’s largest online sports betting and iGaming operator, with a diverse portfolio of some of the world’s most distinctive online sports betting and iGaming brands, such as FanDuel, Sky Betting & Gaming, Sportsbet, PokerStars, Paddy Power, Sisal, tombola, Betfair, TVG, Junglee Games and Adjarabet. Flutter’s ordinary shares have been listed on the London Stock Exchange since 2000 under the ticker symbol “FLTR.”~~The Simpson Thacher team included Joshua Bonnie, Jonathan Ozner, Evan Hunt, Anna Jarman, Kelsey Henderson and Thomas Lopez (Capital Markets); Karen Kelly Hsu and Joshua Teitler (PCAP); Jamin Koslowe, Andrew Blau, Charlie Pfeifer and Meredith Brenton (Executive Compensation and Employee Benefits); Rachelle Broida and Mark Natividad (Intellectual Property); and Michael Mann (Tax).

Jan 29

1 min

Simpson Thacher recently represented Herc Holdings Inc. in connection with its private offering of $800 million aggregate principal amount of 6.625% Senior Notes due 2029.~~Herc Holdings intends to use the net proceeds to repay a portion of the indebtedness outstanding under its senior secured asset-based revolving credit agreement and to pay related fees and expenses.~~Herc Holdings, which operates through its Herc Rentals Inc. subsidiary, is a full-line rental supplier with 412 locations across North America, and 2023 total revenues of approximately $3.3 billion. Herc Holdings offers products and services aimed at helping customers work more efficiently, effectively, and safely.~~The Simpson Thacher team included Joshua Bonnie, Katharine Thompson, Jonathan Ozner, Aarthy Thamodaran, Samantha Sergent, Brice Stewart and Toyin Edogun (Capital Markets); Jonathan Cantor, Benjamin Rippeon and Michael Slomovics (Tax); Christopher Brown and Tina Zheng (Banking and Credit); Marisa Geiger and Paige Brinton (Intellectual Property); and Pasco Struhs (ECEB).

Nov 6

1 min

Private equity-backed technology firm Liftoff Mobile has launched plans to raise an estimated $711 million in its initial public offering, joining a crowded pipeline of IPO prospects that are slated to go public during the first week of February. The Redwood City, California-based company plans to offer 25.4 million shares at a range of $26 to $30, raising $711 million at midpoint, according to a Thursday filing with the U.S. Securities and Exchange Commission. At midpoint, Liftoff Mobile would command a $5.5 billion fully diluted market value. Simpson Thacher & Bartlett LLP advised the company, while Davis Polk & Wardwell LLP advised its underwriters. Liftoff Mobile, which is backed by private equity giants such as Blackstone and General Atlantic, is an advertising and monetization software for mobile apps. Formed through a merger between Liftoff and Vungle, the company provides an artificial intelligence-powered platform that supports user acquisition and monetization services for app advertisers and publishers in industries such as social media, finance, entertainment, and gaming, according to the SEC filing. The company plans on granting its underwriters a 30-day option to purchase up to an additional 3.18 million shares at the IPO price, and the offering is set to price during the week of Feb. 2. Liftoff Mobile plans to list its shares on the Nasdaq under ticker symbol LFTO. Liftoff Mobile joins a slew of other IPO prospects anticipated to make their public debuts during the week of Feb. 2. Forgent Power Solutions, a manufacturer serving industrial and data center customers, on Jan. 26 unveiled plans to raise an estimated $1.5 billion in its IPO by offering 56 million shares for a proposed price range of between $25 and $29. The company, which is backed by investment firm Neos Partners, designs and makes electrical equipment used in data centers, the power grid, and other energy-intensive industrial facilities. Forgent plans to list its shares on the New York Stock Exchange under ticker symbol FPS. Also on Jan. 26, Bob's Discount Furniture released plans to raise around $350 million in its offering by selling 19.5 million shares at a proposed range of between $17 and $19. In its filing with the SEC, Bob's said investment funds connected to private equity shop Bain Capital would own 75% of the company after the IPO. Bob's plans to list on the New York Stock Exchange under ticker symbol BOBS. Further, oncology firm Eikon Therapeutics on Wednesday told regulators that it plans to raise around $300 million in its offering by selling 17.6 million shares for a price range between $16 and $18. The company, which develops therapies for immuno-responsive cancers, plans to list on the Nasdaq under ticker symbol EIKN. The Simpson Thacher team advising Liftoff Mobile in its IPO includes Joshua Ford Bonnie, Jonathan Ozner, and Katharine Thompson. The Davis Polk team advising the underwriters includes Michael Kaplan and Yasin Keshvargar.

Jan 30

2 min

Simpson Thacher represented RBC Capital Markets, as underwriter, in connection with an offering of subordinate voting shares of BRP Inc. (NASDAQ: DOOO) (“BRP”). An affiliate of Bain Capital sold all 2,000,000 subordinate voting shares in the offering for aggregate gross proceeds of approximately C$182 million for the selling shareholder.~~BRP is a global leader in the world of powersports products, propulsion systems and boats. BRP’s diversified portfolio of brands and products includes Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft and pontoons, Can-Am on and off-road vehicles, Alumacraft and Quintrex boats, Manitou pontoons and Rotax marine propulsion systems as well as Rotax engines for karts and recreational aircraft.~~The Simpson Thacher team included Jonathan Ozner, Kirsten Harmon, Maggie Selbe and Mark Marzziotti (Capital Markets); Jonathan Cantor and Mohanad Solaimi (Tax); Alysha Sekhon (Intellectual Property); Pasco Struhs (Executive Compensation and Employee Benefits); and Andrew Pagliughi (FINRA and Blue Sky).

Jan 30

1 min