Fenwick represented UserTesting, Inc. (NYSE: USER), a leading provider of human insight, delivered through a video-first, experience testing platform, in its initial public offering of 10,000,000 shares of common stock at a public offering price of $14.00 per share. The total offering price was $140 million and the shares began trading today on the New York Stock Exchange.
In addition, UserTesting has granted the underwriters a 30-day option to buy an additional 1,500,000 shares of common stock. The offering is expected to close on November 19, 2021.
Morgan Stanley and J.P. Morgan acted as lead book-running managers and representatives of the underwriters for the offering. Piper Sandler, Truist Securities and William Blair acted as joint book-running managers. Canaccord Genuity, Needham & Company, Oppenheimer & Co., Raymond James, Baird, Loop Capital Markets and Academy Securities acted as co-managers. More information can be obtained from the company’s announcement.
The Fenwick transaction team included corporate partners Einat Meisel and Ran Ben-Tzur, partner-elect Jennifer Hitchcock and associates Michael Shaw, Tyler Stahl, Duey Ho, and Bryan Willard; executive compensation and employee benefits partner Shawn Lampron and associates Corinne Nhaissi and Jonathan Stephenson; technology transactions partner Stephen Gillespie; and tax partner Will Skinner.