Fenwick & West represented Silver Spring Networks, Inc. (NYSE: SSNI), a networking platform and solutions provider for smart energy networks, in its initial public offering. Silver Spring Networks sold 5,462,500 shares of common stock at a price to the public of $17.00 per share, which included 712,500 shares of common stock issued upon the exercise in full of the underwriters’ option to purchase additional shares to cover over-allotments.
Goldman, Sachs & Co. and Credit Suisse Securities (USA) LLC acted as joint book-running managers for the offering. Stifel, Nicolaus & Company, Incorporated, Piper Jaffray & Co., Canaccord Genuity Inc., Evercore Group L.L.C., Pacific Crest Securities LLC and Robert W. Baird & Co. acted as co-managers.
The Fenwick transaction team was led by corporate partners Robert Freedman and Gordon Davidson and corporate associate Michael Brown and included corporate partner Sayre Stevick and corporate associates Niki Fang and Sheri Wardwell. Partner Scott Spector and associates Adriana Sherwood and Grace Chen advised on executive compensation and employee benefits matters.