Fenwick & West represented Sonos, Inc. (NASDAQ : SONO), the creator of the wireless home sound system, in its initial public offering of 13,888,888 shares of its common stock at a price to the public of $15.00 per share. Sonos is issuing and selling 5,555,555 shares and the selling stockholders are selling 8,333,333 shares of common stock. In addition, Sonos and the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 2,083,333 shares of common stock at the initial public offering price less underwriting discounts and commissions.
Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC acted as lead book-running managers for the offering. Allen & Company LLC, RBC Capital Markets, LLC, Jefferies LLC and KKR Capital Markets LLC acted as bookrunners. Raymond James & Associates, Inc. and Stifel acted as co-managers for the offering.
The Fenwick transaction team included corporate lawyers Jeff Vetter, Bill Hughes, Niki Fang, Ari Haber, Kyle Canchola, Lisa Richards, Allison Cooper and Thomas Kang; and executive compensation and employee benefits lawyers Shawn Lampron and Hans Andersson.