OnDeck Raises $200 Million in IPO, Valued at $1.3 Billion

​On Deck Capital, Inc., a leading online platform for small business lending, priced its initial public offering at $20 per share on December 16, 2014, valuing the company at $1.3 billion – the largest venture-backed tech company IPO in New York based on market cap at pricing. The closing of the offering is expected to occur on December 22, 2014, subject to customary closing conditions.

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Goodwin Procter Advises Charlesbank on Acquisition of Varsity Brands

Goodwin Procter attorneys recently advised private equity firm Charlesbank Capital Partners on its completed acquisition of Varsity Brands, a portfolio of brands that promote student participation in academics and athletics. The transaction will help ensure that Varsity Brands has the capital structure, resources, and financial flexibility to build its presence while delivering on its mission to elevate school pride and student achievement.

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Kirkland Advises CHS Capital and Royall & Company in Sale of Royall & Company to Advisory Board Company

Kirkland & Ellis LLP advised CHS Capital and Royall & Company in the sale of Royall & Company, the higher education industry leader in strategic, data-driven student engagement and enrollment management solutions, to the Advisory Board Company (NASDAQ: ABCO), a global, insight-driven technology, research, and services provider. Under the terms of the agreement, the Advisory Board will purchase Royall for $850 million, consisting of $750 million in cash and $100 million in Advisory Board stock.

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Ropes & Gray Represents Belden Inc. in $710 Million Acquisition of Tripwire

Ropes & Gray advised Belden Inc. in its acquisition of Tripwire, a leading provider of advanced cybersecurity solutions, for $710 million. Based in St. Louis, Belden is a global leader in signal transmission solutions for mission-critical applications. The transaction was announced Dec. 9 and is expected to close in the first quarter of 2015, subject to customary closing conditions.

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Orrick Advises SunEdison and TerraForm on $2.4 Billion Acquisition of First Wind

Orrick, Herrington & Sutcliffe LLP acted as M&A counsel for long-time client SunEdison, Inc. (“SunEdison”) and its yieldco, TerraForm Power, Inc. (“Terraform”), in the acquisition of First Wind Holdings, LLC (“First Wind”), a leading developer, owner and operator of U.S. wind and solar energy projects, for approximately $2.4 billion, with a $1.9 billion upfront payment and an up to $510 million earn-out. The transaction marks SunEdison’s entry into the U.S. wind energy sector, building on its position as a leading global solar energy developer.

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Kirkland & Ellis LLP Represents Wynnchurch Capital in Raising $1.2 Billion Fund

Kirkland & Ellis LLP represented Wynnchurch Capital in the raising of its fourth private equity fund, Wynnchurch Capital Partners IV, L.P., which announced its final closing at $1.2 billion of limited partner commitments. The fund, which had a target of $900 million, was oversubscribed, resulting in the fund reaching its hard cap closing relatively quickly after its initial launch in September 2014.

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Dermira Prices its Initial Public Offering

Cooley advised the underwriters on Dermira, Inc.’s $125 million initial public offering. Dermira is a specialty biopharmaceutical company focused on bringing innovative and differentiated medical dermatology products to dermatologists and their patients. The company now trades on The NASDAQ Global Select Market under the symbol “DERM.”

Citigroup Global Markets Inc. and Leerink Partners LLC acted as joint book-running managers for the offering, and Guggenheim Securities, LLC and Needham & Company, LLC acted as co-managers for the offering. The underwriters have been granted a 30-day option to purchase up to 1,171,875 additional shares of common stock.

The Cooley corporate and securities team advising the underwriters was comprised of partners Drew Williamson, David Peinsipp and Charlie Kim, and associates Kristin VanderPas, Robert E. Jones and Eric Cheng.

Critical support was provided by partners Natasha Leskovsek and Wendy Goldstein, special counsel Phil Mitchell and associate Jennifer Shanley (health care and life sciences regulatory); partner Bill Christiansen (intellectual property); partner Renee Deming (compensation and benefits); and partner Susan Cooper Philpot (tax).

Shearman & Sterling Represents InRetail Consumer in Senior Notes Offering, Offer to Purchase and Consent Solicitation

Shearman & Sterling represented InRetail Consumer, a Peruvian trust, along with its subsidiaries, in connection with (1) its issuance of US$300,000,000 aggregate principal amount of 5.250% Senior Notes due 2021 and (2) its offer to purchase and consent solicitation for any and all of the outstanding 8.875% Senior Secured Notes due 2018 of Interproperties Retail Trust, a Cayman trust.

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Shearman & Sterling Advises on The GEO Group’s $250 Million Senior Notes Offering

Shearman & Sterling represented the underwriters, represented by BofA Merrill Lynch, in connection with the purchase of $250 million aggregate principal amount of The GEO Group, Inc.’s (“GEO”) 5.875% Senior Notes due 2024. The net proceeds of the offering will be used to pay down indebtedness outstanding under GEO’s revolving credit facility and to pay related fees, costs and expenses.

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