Davis Polk advised the underwriters in connection with an initial public offering of 5,060,000 shares of common stock of KYTHERA Biopharmaceuticals, Inc. (including 660,000 shares in respect of the exercise in full of the underwriters’ option to purchase additional shares) at $16.00 per share for gross proceeds of approximately $80.1 million. J.P. Morgan Securities LLC and Goldman, Sachs & Co. acted as joint book-running managers, Leerink Swann LLC acted as lead co-manager and Lazard Capital Markets LLC acted as co-manager. KYTHERA’s common stock is traded on the Nasdaq Global Select Market under the symbol “KYTH.”

More >>

Davis Polk, together with Linklaters and Morgan Lewis, is advising the joint administrators of Lehman Brothers International (Europe) (“LBIE”) in connection with the settlement in principle of $38 billion in claims between LBIE and Lehman Brothers Inc (“LBI”). The settlement represents a critical milestone in the Lehman Brothers administration and brings the parties closer to unlocking substantial distributions for creditors who hold tens of billions of dollars in claims.

More >>

Pearson plc, the world’s leading learning company, today announced the acquisition of EmbanetCompass, a provider of online learning services for non-profit academic institutions, from an investor group led by private equity and venture capital firm Technology Crossover Ventures and global education company Knowledge Universe, for $650 million in cash. The transaction is subject to Hart-Scott-Rodino review.

More >>

Cravath represented Crown Castle International Corp. in connection with its US$1.65 billion 144A/Reg. S high-yield senior debt offering. Crown Castle International Corp. is an owner, operator and lessor of shared wireless infrastructure. The transaction closed on October 15, 2012.

More >>