Fenwick represented the underwriters in EngageSmart’s (NYSE: ESMT) initial public offering. The company is a leading provider of vertically-tailored customer engagement software and integrated payments solutions. The total offering size was $378 million, consisting of 14,550,000 shares of common stock at a price of $26.00 per share. Of the offered shares, 13,000,000 shares were offered by EngageSmart and 1,550,000 shares were offered by certain of EngageSmart’s existing stockholders. In addition, the underwriters will have a 30-day option to purchase from EngageSmart and the selling stockholders up to an additional 2,182,500 shares of their common stock at the initial public offering price, less underwriting discounts and commissions. The shares began trading today on the New York Stock Exchange.
J.P. Morgan, Goldman Sachs & Co. LLC, BofA Securities and Citigroup acted as lead book-running managers for the offering. Deutsche Bank Securities, Raymond James, Truist Securities and William Blair acted as book-runners for the offering. KeyBanc Capital Markets, Needham & Company, Penserra Securities LLC, R. Seelaus & Co., LLC and Roberts & Ryan acted as co-managers.
The offering is expected to close on September 27, 2021, subject to customary closing conditions. More information can be obtained from EngageSmart’s announcement.
The Fenwick transaction team included corporate partners Ran Ben-Tzur and Jamie Evans and associates Michael Shaw, Jennifer Hitchcock, Tyler Gratton and John Clancy; privacy and cybersecurity partner Jim Koenig, director Brent Hoard and manager Sarah Borchers; patent partner Daniel Brownstone; litigation partner Catherine Kevane; executive compensation and employee benefits counsel Laura McIntyre; and tax partner Julia Ushakova-Stein and associate Sean McElroy.