Fenwick represented the underwriters in EngageSmart’s (NYSE: ESMT) public offering. The company is a leading provider of vertically-tailored customer engagement software and integrated payments solutions. The total offering size was $152 million, consisting of 8,000,000 shares of common stock at a price of $19.00 per share. The shares are being offered by certain of EngageSmart’s stockholders. In addition, the underwriters will have a 30-day option to purchase up to 1,200,000 additional shares of common stock at the public offering price, less underwriting discounts and commissions.
Goldman Sachs & Co. LLC, J.P. Morgan, BofA Securities and Citigroup acted as joint 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.
EngageSmart’s selling stockholders will receive all proceeds from the offering. The offering is expected to close on March 3, 2023, subject to the satisfaction of customary closing conditions. More information can be obtained from EngageSmart’s announcement.
The Fenwick transaction team was led by corporate partners Ran Ben-Tzur and Aman Singh, and associates, Janiece Jenkins, John Clancy and Sedina Alicic; and tax associate Sean McElroy. In addition, corporate counsel Melissa Duffy, corporate counsel Michael Shaw, visiting attorney Laura McIntyre and corporate associate Tyler Gratton assisted with the transaction.