Helen Theung

Sidley represented Ardent Health Partners, Inc. (“Ardent Health”) in its US$192 million initial public offering. The shares began trading on the New York Stock Exchange on July 18, 2024, under the symbol “ARDT”. Ardent Health sold 12,000,000 shares of its common stock at the IPO price of US$16 per share. The IPO is expected to close on July 19, 2024, subject to customary closing conditions. In connection with the offering, the company granted the underwriters a 30-day option to purchase up to an additional 1,800,000 shares of common stock at the initial public offering price, less the underwriting discounts and commissions. Ardent Health intends to use the net proceeds from the proposed offering for working capital, to acquire complementary businesses, products, services, or technologies, and for general corporate purposes, which may include repayment of debt and capital expenditures. Ardent Health is a leading provider of healthcare services in growing mid-sized urban communities across the United States. The Sidley deal team was led by Sam Gandhi, Mike Heinz, and Helen Theung (Capital Markets), and included Tyler Aust, Ryan Metz, and Kim Gubbels (Capital Markets), with support from Eric Winwood and Marian Fielding (Employee Benefits and Executive Compensation); Suresh Advani (Tax); Stephen Fronk (Intellectual Property); Vadim Brusser (Antitrust and Competition); Donielle McCutcheon and Kim Schroer (Healthcare); Elizabeth McCloy, Benjamin Kirschner, and Alexander Longan (Real Estate); Heather Palmer (Environmental); and Colleen Theresa Brown (Privacy and Cybersecurity).~~Sidley represented Ardent Health Partners, Inc. (“Ardent Health”) in its US$192 million initial public offering. The shares began trading on the New York Stock Exchange on July 18, 2024, under the symbol “ARDT”. Ardent Health sold 12,000,000 shares of its common stock at the IPO price of US$16 per share. The IPO is expected to close on July 19, 2024, subject to customary closing conditions. In connection with the offering, the company granted the underwriters a 30-day option to purchase up to an additional 1,800,000 shares of common stock at the initial public offering price, less the underwriting discounts and commissions. Ardent Health intends to use the net proceeds from the proposed offering for working capital, to acquire complementary businesses, products, services, or technologies, and for general corporate purposes, which may include repayment of debt and capital expenditures. Ardent Health is a leading provider of healthcare services in growing mid-sized urban communities across the United States. The Sidley deal team was led by Sam Gandhi, Mike Heinz, and Helen Theung (Capital Markets), and included Tyler Aust, Ryan Metz, and Kim Gubbels (Capital Markets), with support from Eric Winwood and Marian Fielding (Employee Benefits and Executive Compensation); Suresh Advani (Tax); Stephen Fronk (Intellectual Property); Vadim Brusser (Antitrust and Competition); Donielle McCutcheon and Kim Schroer (Healthcare); Elizabeth McCloy, Benjamin Kirschner, and Alexander Longan (Real Estate); Heather Palmer (Environmental); and Colleen Theresa Brown (Privacy and Cybersecurity).

Jul 19

2 min

Klaviyo, Inc. (“Klaviyo”) has announced the pricing of its initial public offering of 19,200,000 shares of its Series A common stock at an initial public offering price of $30 per share. The offering consists of 11,507,693 shares of Series A common stock offered by Klaviyo and 7,692,307 shares of Series A common stock to be sold by certain of Klaviyo’s existing stockholders. The shares are expected to begin trading on the New York Stock Exchange on September 20, 2023 under the symbol “KVYO.” The IPO is expected to close on September 22, 2023, subject to customary closing conditions. Klaviyo “powers smarter digital relationships, making it easy for businesses to capture, store, analyze, and predictively use their own data to drive measurable, high-value outcomes.” Sidley represented the underwriters in the offering with a Sidley team led by partners Frank Rahmani (Capital Markets, Emerging Companies and Venture Capital) and Sam Gandhi (Capital Markets), and included Helen Theung and Nicole Garrett (Capital Markets); Dženela Bečić (M&A); Benjamin L. Nager (Securities Enforcement and Regulatory); Eric Winwood, Marian Fielding, Richard Schneider III, and Akshay Soman (Employee Benefits and Executive Compensation); Rachel Kleinberg and Jonathan Westreich (Tax); Glenn Nash, Ida Ebeid, and Paul Kariyawasam (Technology Transactions); Colleen Theresa Brown, Denise Kara, and Mitchell Noordyke (Privacy and Cybersecurity); Jen Fernandez (International Trade); Cathryn Le Regulski and Sara Salmonson (Labor and Employment); Michael Mann (White Collar: Government Litigation and Investigations); and Brian Earl (Commercial Litigation and Disputes).~~Klaviyo, Inc. (“Klaviyo”) has announced the pricing of its initial public offering of 19,200,000 shares of its Series A common stock at an initial public offering price of $30 per share. The offering consists of 11,507,693 shares of Series A common stock offered by Klaviyo and 7,692,307 shares of Series A common stock to be sold by certain of Klaviyo’s existing stockholders. The shares are expected to begin trading on the New York Stock Exchange on September 20, 2023 under the symbol “KVYO.” The IPO is expected to close on September 22, 2023, subject to customary closing conditions. Klaviyo “powers smarter digital relationships, making it easy for businesses to capture, store, analyze, and predictively use their own data to drive measurable, high-value outcomes.” Sidley represented the underwriters in the offering with a Sidley team led by partners Frank Rahmani (Capital Markets, Emerging Companies and Venture Capital) and Sam Gandhi (Capital Markets), and included Helen Theung and Nicole Garrett (Capital Markets); Dženela Bečić (M&A); Benjamin L. Nager (Securities Enforcement and Regulatory); Eric Winwood, Marian Fielding, Richard Schneider III, and Akshay Soman (Employee Benefits and Executive Compensation); Rachel Kleinberg and Jonathan Westreich (Tax); Glenn Nash, Ida Ebeid, and Paul Kariyawasam (Technology Transactions); Colleen Theresa Brown, Denise Kara, and Mitchell Noordyke (Privacy and Cybersecurity); Jen Fernandez (International Trade); Cathryn Le Regulski and Sara Salmonson (Labor and Employment); Michael Mann (White Collar: Government Litigation and Investigations); and Brian Earl (Commercial Litigation and Disputes).

Sep 20

2 min

Sidley represented Flex Ltd. (Nasdaq: FLEX), an American multinational manufacturing company domiciled in Singapore, in its spinoff of its remaining interests in Nextracker Inc. (Nasdaq: NXT) to Flex shareholders on a pro rata basis. Nextracker is a Fremont, California-based solar technology company. The Sidley team was led by Daniel Belke, Sharon Flanagan, Sam Gandhi, and Helen Theung (M&A and Capital Markets), and also included Sandi Knox, Ellen Hunter, Alex Enion, Hannah M. Brown, and Taylor N. Todd (M&A); Sonia Gupta Barros, Adam M. Gross, Sara M. von Althann, and Hana Lee (Capital Markets); Eric M. Winwood, Marian Fielding, Richard Schneider III, and Akshay Soman (Employee Benefits and Executive Compensation); Suresh T. Advani, John T. Schaff, Tyler J. Replogle, and Ryan L. Schroeder (Tax); and E. Kyle Barnett (Technology and Life Sciences Transactions). Sidley also represented Flex Ltd. and Nextracker in the US$662.5 million combined primary (synthetic secondary) and secondary underwritten public offering of Nextracker’s Class A common stock by Nextracker and certain selling stockholders in June 2023; in Nextracker’s US$734.2 million initial public offering in February 2023; and in Flex’s sale of US$500 million of convertible preferred equity in Nextracker to TPG Rise Climate in February 2022.~~Sidley represented Flex Ltd. (Nasdaq: FLEX), an American multinational manufacturing company domiciled in Singapore, in its spinoff of its remaining interests in Nextracker Inc. (Nasdaq: NXT) to Flex shareholders on a pro rata basis. Nextracker is a Fremont, California-based solar technology company. The Sidley team was led by Daniel Belke, Sharon Flanagan, Sam Gandhi, and Helen Theung (M&A and Capital Markets), and also included Sandi Knox, Ellen Hunter, Alex Enion, Hannah M. Brown, and Taylor N. Todd (M&A); Sonia Gupta Barros, Adam M. Gross, Sara M. von Althann, and Hana Lee (Capital Markets); Eric M. Winwood, Marian Fielding, Richard Schneider III, and Akshay Soman (Employee Benefits and Executive Compensation); Suresh T. Advani, John T. Schaff, Tyler J. Replogle, and Ryan L. Schroeder (Tax); and E. Kyle Barnett (Technology and Life Sciences Transactions). Sidley also represented Flex Ltd. and Nextracker in the US$662.5 million combined primary (synthetic secondary) and secondary underwritten public offering of Nextracker’s Class A common stock by Nextracker and certain selling stockholders in June 2023; in Nextracker’s US$734.2 million initial public offering in February 2023; and in Flex’s sale of US$500 million of convertible preferred equity in Nextracker to TPG Rise Climate in February 2022.

Jan 2

2 min

Sidley represented Flex Ltd. (Nasdaq: FLEX), an American multinational manufacturing company domiciled in Singapore, and its Fremont, California-based solar technology subsidiary, Nextracker Inc. (Nasdaq: NXT), in its upsized US$638 million initial public offering, selling 3.34 million more shares than expected at US$24 each, which was slightly above the proposed US$21 – US$23 range. The underwriters exercised in full their option to purchase up to an additional 3.99 million shares of common stock at the IPO price, less underwriting discounts and commissions, bringing the total offering size to $734,160,000 and making it the largest IPO of the year. The IPO closed on February 13, 2023. The Sidley deal team was led by Sharon Flanagan (M&A) and Sam Gandhi (Capital Markets) and included Lindsey Smith, Helen Theung, Adam Gross, Hana Lee, Diahndra Burman, Jessica Li, Gabriella Tang, and Sara Zokaei (Capital Markets); Dan Belke and Alex Enion (M&A); Kyle Barnett (Technology and Life Sciences Transactions); Suresh Advani, John Schaff, Tyler Replogle, Joshua Sandler, and Ryan Schroeder (Tax); Katie Klaben (Securities Enforcement and Regulatory); Colleen Lauerman, Andrew Shoyer, and Justin Becker (Global Arbitration, Trade and Advocacy); Maureen Crough (Environmental); Colleen Theresa Brown and Lauren Kitces (Privacy and Cybersecurity); and Eric Winwood and Marian Fielding (Employee Benefits and Executive Compensation). Sidley also represented Flex Ltd. in its sale of US$500 million of convertible preferred equity in Nextracker to TPG Rise Climate in February 2022.~~Sidley represented Flex Ltd. (Nasdaq: FLEX), an American multinational manufacturing company domiciled in Singapore, and its Fremont, California-based solar technology subsidiary, Nextracker Inc. (Nasdaq: NXT), in its upsized US$638 million initial public offering, selling 3.34 million more shares than expected at US$24 each, which was slightly above the proposed US$21 – US$23 range. The underwriters exercised in full their option to purchase up to an additional 3.99 million shares of common stock at the IPO price, less underwriting discounts and commissions, bringing the total offering size to $734,160,000 and making it the largest IPO of the year. The IPO closed on February 13, 2023. The Sidley deal team was led by Sharon Flanagan (M&A) and Sam Gandhi (Capital Markets) and included Lindsey Smith, Helen Theung, Adam Gross, Hana Lee, Diahndra Burman, Jessica Li, Gabriella Tang, and Sara Zokaei (Capital Markets); Dan Belke and Alex Enion (M&A); Kyle Barnett (Technology and Life Sciences Transactions); Suresh Advani, John Schaff, Tyler Replogle, Joshua Sandler, and Ryan Schroeder (Tax); Katie Klaben (Securities Enforcement and Regulatory); Colleen Lauerman, Andrew Shoyer, and Justin Becker (Global Arbitration, Trade and Advocacy); Maureen Crough (Environmental); Colleen Theresa Brown and Lauren Kitces (Privacy and Cybersecurity); and Eric Winwood and Marian Fielding (Employee Benefits and Executive Compensation). Sidley also represented Flex Ltd. in its sale of US$500 million of convertible preferred equity in Nextracker to TPG Rise Climate in February 2022.

Feb 13

2 min

Sidley represented Flex Ltd. (Nasdaq: FLEX), an American multinational manufacturing company domiciled in Singapore, and its Fremont, California-based solar technology subsidiary, Nextracker Inc. (Nasdaq: NXT), in its US$662.5 million combined primary (synthetic secondary) and secondary underwritten public offering of its Class A common stock by Nextracker and certain selling stockholders, which resulted in approximately US$552 million in net proceeds to Nextracker and US$88.9 million in net proceeds to certain selling stockholders, in each case, after deducting the underwriting discounts and commissions, and which includes the full exercise of the underwriters’ option to purchase an additional 1.65 million shares of Class A common stock at the public offering price. The offering closed on July 3, 2023. The Sidley deal team was led by Sharon Flanagan (M&A) and Sam Gandhi (Capital Markets), and included Helen Theung, Nicole Garrett, Hana Lee, and Taylor Todd (Capital Markets); Suresh Advani, John Schaff, Tyler Replogle, and Ryan Schroeder (Tax); Katie Klaben (Securities Enforcement and Regulatory); Colleen Lauerman, Andrew Shoyer, and Justin Becker (Global Arbitration, Trade and Advocacy); Maureen Crough (Environmental); Colleen Theresa Brown and Lauren Kitces (Privacy and Cybersecurity); and Eric Winwood and Marian Fielding (Employee Benefits and Executive Compensation). Sidley also represented Flex Ltd. and Nextracker Inc. in its US$734.2 million initial public offering in February 2023, and its sale of US$500 million of convertible preferred equity in Nextracker to TPG Rise Climate in February 2022.~~Sidley represented Flex Ltd. (Nasdaq: FLEX), an American multinational manufacturing company domiciled in Singapore, and its Fremont, California-based solar technology subsidiary, Nextracker Inc. (Nasdaq: NXT), in its US$662.5 million combined primary (synthetic secondary) and secondary underwritten public offering of its Class A common stock by Nextracker and certain selling stockholders, which resulted in approximately US$552 million in net proceeds to Nextracker and US$88.9 million in net proceeds to certain selling stockholders, in each case, after deducting the underwriting discounts and commissions, and which includes the full exercise of the underwriters’ option to purchase an additional 1.65 million shares of Class A common stock at the public offering price. The offering closed on July 3, 2023. The Sidley deal team was led by Sharon Flanagan (M&A) and Sam Gandhi (Capital Markets), and included Helen Theung, Nicole Garrett, Hana Lee, and Taylor Todd (Capital Markets); Suresh Advani, John Schaff, Tyler Replogle, and Ryan Schroeder (Tax); Katie Klaben (Securities Enforcement and Regulatory); Colleen Lauerman, Andrew Shoyer, and Justin Becker (Global Arbitration, Trade and Advocacy); Maureen Crough (Environmental); Colleen Theresa Brown and Lauren Kitces (Privacy and Cybersecurity); and Eric Winwood and Marian Fielding (Employee Benefits and Executive Compensation). Sidley also represented Flex Ltd. and Nextracker Inc. in its US$734.2 million initial public offering in February 2023, and its sale of US$500 million of convertible preferred equity in Nextracker to TPG Rise Climate in February 2022.

Jun 30

2 min