Fenwick & West represented LendingClub Corporation (NYSE: LC), the world's largest online marketplace connecting borrowers and investors, in its initial public offering. The company offered 50,300,000 shares of its common stock and selling stockholders offered 7,700,000 shares of common stock at a price to the public of $15.00 per share. In addition, the underwriters exercised their option to purchase an additional 8,700,000 shares of common stock from LendingClub.
Morgan Stanley & Co. LLC and Goldman, Sachs & Co. acted as joint lead book-running managers for the offering. Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc. also acted as joint book-running managers for the offering. Allen & Company LLC acted as lead manager, and Stifel, Nicolaus & Company, Incorporated, BMO Capital Markets Corp., William Blair & Company, L.L.C., and Wells Fargo Securities, LLC acted as co-managers for the offering.
The Fenwick transaction team included corporate attorneys Cindy Hess, Jeff Vetter, James Evans, Amanda Rose, Christine Chen, Amir Hassanabadi, Seth Popick and Tim Lee and executive compensation and employee benefits attorney Shawn Lampron.