HashiCorp’s Initial Public Offering

Wilson Sonsini Goodrich & Rosati advised HashiCorp on the deal. Latham & Watkins represented the underwriters.

HashiCorp®, a leader in multi-cloud infrastructure automation software, announced the pricing of its initial public offering of 15,300,000 shares of its Class A common stock at a public offering price of $80.00 per share. All of the shares are being offered by HashiCorp. The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by HashiCorp, are expected to be $1.22 billion. The shares began trading on the Nasdaq Global Select Market on December 9, 2021, under the ticker symbol “HCP.” The offering is expected to close on December 13, 2021, subject to the satisfaction of customary closing conditions. In addition, HashiCorp has granted the underwriters a 30-day option to purchase up to an additional 2,295,000 shares of Class A common stock at the initial public offering price, less the underwriting discounts and commissions.

Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, BofA Securities, Inc., Citigroup Global Markets Inc., Cowen and Company, LLC, JMP Securities LLC, KeyBanc Capital Markets Inc., Nomura Securities International, Inc., Oppenheimer & Co. Inc., Stifel, Nicolaus & Company, Incorporated, William Blair & Company, L.L.C., R. Seelaus & Co., LLC and Blaylock Van, LLC acted as underwriters for the IPO.

The Wilson Sonsini Goodrich & Rosati team included: Tony Jeffries, Michael Coke, Amanda Urquiza, Bartek Sudol, Jacie Valentine, Jacob Shepherd, Jasbir Bains, Jessie Couch, Scott McCall, Jackie Tokuda, Matthew Norgard, Kristen Stidham, Myra Sutanto-Shen, Sunny Dhaliwal, Ryan Greecher, Angie Flaherty, John McGaraghan, Shivang Patel, Tarek Helou, Josephine Aiello LeBeau, Anne Seymour, Seth Cowell and Matt Staples.

Latham & Watkins represented the underwriters in the offering with a capital markets team led by Bay Area partners Rick Kline and John Williams, with Bay Area associates Raul Gonzalez and Heather Durham. Advice was also provided on tax matters by Bay Area partner Grace Lee, with Bay Area associate Derek Gumm; on intellectual property and data privacy matters by Bay Area partner Michelle Gross, with Bay Area associate Amy Dippolito and Los Angeles associate Jack Chai; and on benefits and compensation matters by Bay Area partner Jay Metz.

Involved fees earner: Jack Chai – Latham & Watkins; Amy Elizabeth Dippolito – Latham & Watkins; Heather Durham – Latham & Watkins; Raul Gonzalez – Latham & Watkins; Derek Gumm – Latham & Watkins; Richard Andrew Kline – Latham & Watkins; Grace Lee – Latham & Watkins; James Metz – Latham & Watkins; Michelle Gross – Latham & Watkins; John Williams – Latham & Watkins; Josephine Aiello LeBeau – Wilson Sonsini Goodrich & Rosati; Michael Coke – Wilson Sonsini Goodrich & Rosati; Seth Cowell – Wilson Sonsini Goodrich & Rosati; Sunny Dhaliwal – Wilson Sonsini Goodrich & Rosati; Angie Flaherty – Wilson Sonsini Goodrich & Rosati; Ryan Greecher – Wilson Sonsini Goodrich & Rosati; Tarek Helou – Wilson Sonsini Goodrich & Rosati; Tony Jeffries – Wilson Sonsini Goodrich & Rosati; Scott McCall – Wilson Sonsini Goodrich & Rosati; John McGaraghan – Wilson Sonsini Goodrich & Rosati; Matthew Norgard – Wilson Sonsini Goodrich & Rosati; Shivang Patel – Wilson Sonsini Goodrich & Rosati; Anne Seymour – Wilson Sonsini Goodrich & Rosati; Jacob Shepherd – Wilson Sonsini Goodrich & Rosati; Matt Staples – Wilson Sonsini Goodrich & Rosati; Kristen Stidham – Wilson Sonsini Goodrich & Rosati; Bartek Sudol – Wilson Sonsini Goodrich & Rosati; Myra Sutanto Shen – Wilson Sonsini Goodrich & Rosati; Jaqueline Tokuda – Wilson Sonsini Goodrich & Rosati; Amanda Urquiza – Wilson Sonsini Goodrich & Rosati; Jacie Valentine – Wilson Sonsini Goodrich & Rosati;

Law Firms: Latham & Watkins; Wilson Sonsini Goodrich & Rosati;

Clients: Bank of America Securities; Blaylock Van, LLC; Citigroup Global Markets Ltd; Cowen and Company; Goldman Sachs & Co.; HashiCorp Inc.; J.P. Morgan Securities LLC; JMP Securities LLC; KeyBanc Capital Markets; Morgan Stanley; Nomura Securities International Inc.; Oppenheimer & Co; R. Seelaus & Co.; Stifel, Nicolaus & Company, Incorporated; William Blair & Company ;

Martina Bellini

Author: Martina Bellini