Fenwick & West represented the underwriters in the follow-on public offering for TriNet Group, Inc. (NYSE: TNET), a leading cloud-based provider of HR services. The selling stockholders, which are entities affiliated with General Atlantic LLC, are offering 12,000,000 shares of its common stock at a price of $25.50 per share. The selling stockholders also intend to grant the underwriters a 30-day option to purchase up to 1,800,000 additional shares. TriNet will not receive any proceeds from the sale of the shares.
J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Deutsche Bank Securities Inc. acted as joint book-running managers of the offering and as representatives of the underwriters. Stifel, Nicolaus & Company, Incorporated and William Blair & Company, L.L.C. acted as co-managers of the offering.
The Fenwick transaction team included corporate attorneys Daniel Winnike, Horace Nash, Philip Reuther, Christine Chen and Philip Henry.