Fenwick & West represented Upwork Inc. (Nasdaq: UPWK), the largest online marketplace that enables businesses to find and work with highly-skilled freelancers, in its initial public offering of 14,348,196 shares of its common stock at a price to the public of $15.00 per share. The offering included the sale by Upwork of 7,840,908 shares of its common stock and certain selling stockholders of 6,507,288 shares of common stock, including the shares sold upon exercise of the underwriters’ option to purchase an additional 1,871,503 shares.
Citigroup Global Markets Inc., Jefferies LLC and RBC Capital Markets, LLC acted as joint-bookrunning managers for the offering. Stifel, Nicolaus & Company, Incorporated and JMP Securities LLC acted as co-managers.
The Fenwick transaction team included corporate lawyers Gordy Davidson, Rob Freedman, Ran Ben-Tzur, Amanda Baratz, Jenna Hsieh and Noah Johnson; intellectual property lawyers Stephen Gillespie and Ana Razmazma; and executive compensation and employee benefits lawyers Shawn Lampron, Kristin O’Hanlon and Ariel Gaknoki.