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8.20.25
Wilson Sonsini Advises Upstart on $690 Million Convertible Senior Notes Offering
On August 14, 2025, Upstart Holdings, Inc. completed an upsized offering of $690 million aggregate principal amount of convertible senior notes due 2032 in a private transaction. The offering amount included the exercise in full of the option that Upstart had granted to the initial purchasers to purchase up to an additional $90 million of notes. In connection with the offering, Upstart entered into privately negotiated capped call transactions with certain of the initial purchasers or their respective affiliates and other financial institutions.
Client Highlights
6.12.25
Wilson Sonsini Advises Chime on IPO
On June 11, 2025, leading consumer financial technology company Chime announced the pricing of its initial public offering of its Class A common stock at $27.00 per share. Chime sold 25,900,765 shares in the offering and certain existing stockholders of Chime sold 6,099,235 shares in the offering. Wilson Sonsini Goodrich & Rosati is advising Chime on the transaction.
Client Highlights
6.10.25
Wilson Sonsini Advises Autodesk on $500 Million Senior Notes Offering
On June 6, 2025, Autodesk, Inc. completed its offering of $500 million aggregate principal amount of 5.300 percent senior notes due 2035 (the Notes). Autodesk intends to use the net proceeds from the sale of the Notes for general corporate purposes, which may include the repayment of other indebtedness. Wilson Sonsini Goodrich & Rosati advised Autodesk on the transaction.
Client Highlights
5.13.25
Wilson Sonsini Advises Autodesk on $1.5 Billion Credit Facility
On May 8, 2025, Autodesk, Inc., a global leader in design and engineering software, entered into a credit agreement with Citibank, N.A. and certain other parties thereto, which provides for an unsecured revolving loan facility in an aggregate principal amount of $1.5 billion. The credit agreement permits Autodesk to increase the commitments thereunder by an additional $500.0 million, subject to the satisfaction of certain conditions, including the obtaining of additional commitments for such increase. The proceeds of loans under the revolving loan facility may be used for working capital and general corporate purposes. Wilson Sonsini Goodrich & Rosati advised Autodesk on the transaction.
Client Highlights
5.09.25
Wilson Sonsini Advises AppLovin on Agreement to Sell Mobile Gaming Business to Tripledot
AppLovin Corporation, a leading marketing platform, announced the entry into a definitive agreement to sell its mobile gaming business to Tripledot for $400.0 million in cash consideration and equity consideration representing approximately 20% of Tripledot. The deal is anticipated to close in the second quarter of 2025, pending regulatory approvals. Wilson Sonsini Goodrich & Rosati advised AppLovin on the transaction.
Client Highlights
4.24.25
Wilson Sonsini Represents Autodesk in Cooperation Agreement with Starboard
On April 24, 2025, Autodesk, Inc. announced that it has entered into a cooperation agreement with Starboard Value LP that includes the appointment of two independent directors, Jeff Epstein and Christie Simons, to Autodesk’s board of directors. Autodesk and Starboard have entered into an Information Sharing and Discussion Agreement to facilitate ongoing collaboration toward the goal of driving sustainable value creation for all shareholders. Wilson Sonsini Goodrich & Rosati has represented Autodesk for decades and advised the company on the cooperation agreement.
In addition to the board appointments, as part of the cooperation agreement, Starboard will withdraw its director nominees and has agreed to customary standstill, voting, and other provisions. The full agreement will be filed as an exhibit to a Form 8-K with the U.S. Securities and Exchange Commission.
The Wilson Sonsini team advising Autodesk was led by corporate partner Richard Blake and shareholder engagement and activism partner Sebastian Alsheimer. Though this was an activism situation, a cross-disciplinary Wilson Sonsini team that included litigation partner Caz Hashemi and Delaware governance litigation partner Brad Sorrels was highly involved in advising Autodesk on the matter.
In addition to the board appointments, as part of the cooperation agreement, Starboard will withdraw its director nominees and has agreed to customary standstill, voting, and other provisions. The full agreement will be filed as an exhibit to a Form 8-K with the U.S. Securities and Exchange Commission.
The Wilson Sonsini team advising Autodesk was led by corporate partner Richard Blake and shareholder engagement and activism partner Sebastian Alsheimer. Though this was an activism situation, a cross-disciplinary Wilson Sonsini team that included litigation partner Caz Hashemi and Delaware governance litigation partner Brad Sorrels was highly involved in advising Autodesk on the matter.
Client Highlights
9.23.24
Wilson Sonsini Advises Upstart on Private Offering of $431.25 Million of Convertible Senior Notes
On September 19, 2024, Upstart Holdings, Inc. completed an upsized offering of $431.25 million aggregate principal amount of convertible senior notes due 2029 in a private transaction. The offering amount included the exercise in full of the option that Upstart had granted to the initial purchasers to purchase up to an additional $56.25 million of notes. In connection with the offering, Upstart entered into privately negotiated capped call transactions with certain of the initial purchasers or their respective affiliates and other financial institutions.
Client Highlights
3.06.24
Wilson Sonsini Advises AppLovin on Secondary Public Offering and Concurrent Share Repurchase
On February 29, 2024, AppLovin Corporation, a leading marketing platform, announced the pricing of an underwritten registered secondary offering of 19,866,397 shares of its Class A common stock by KKR Denali Holdings L.P. (the selling stockholder), at a price to the public of $56.00 per share. In addition, AppLovin agreed to repurchase from the underwriters approximately $570.0 million of the shares of Class A common stock being offered in the offering at the same per share price to be paid by the underwriters to the selling stockholder in the offering. Wilson Sonsini Goodrich & Rosati advised AppLovin on the transaction.
Client Highlights
3.06.24
Wilson Sonsini Represents SK Growth Opportunities Corporation in $7.3 Billion Business Combination with Webull Corporation
On February 28, 2024, SK Growth Opportunities Corporation (SK Growth), a publicly traded special purpose acquisition company, and Webull Corporation (Webull), a leading digital investment platform, announced a business combination through which Webull will become a publicly listed company. The transaction values the combined business at a pro forma enterprise value of approximately $7.3 billion, assuming no further redemptions by SK Growth shareholders. A wholly-owned subsidiary of SK Inc., a leading global conglomerate based in the Republic of Korea, is the anchor investor in SK Growth’s sponsor. Webull is the owner of the popular Webull platform, which provides a full suite of financial products to 20 million registered users globally.
Client Highlights
3.01.24
Wilson Sonsini Advises Lyft on Private Offering of $460 Million Convertible Senior Notes
On February 27, 2024, Lyft, a leading rideshare company, closed its convertible senior note private offering of $460 million aggregate principal amount due 2029, which included the full exercise by the initial purchasers of their overallotment option to purchase an additional $60 million of notes. Wilson Sonsini Goodrich & Rosati represented Lyft on the transaction.
Client Highlights
7.05.23
Wilson Sonsini Advises Underwriters in Nextracker’s $662.5 Million Offering of Class A Common Stock
On June 28, 2023, Nextracker Inc. announced that it priced its combined primary (synthetic secondary) and secondary underwritten public offering of 16,500,000 Class A common stock offered by Nextracker and certain selling stockholders, at an offering price of $36.50 per share. In addition, Nextracker granted the underwriters a 30-day option to purchase up to an additional 1,650,000 shares of Class A common stock at the offering price of $36.50, less underwriting discounts and commissions, which the underwriters exercised on June 29, 2023. The offering closed on July 3, 2023.
Client Highlights
12.03.21
Wilson Sonsini Advises AppLovin on Upsized Secondary Offering
On December 3, 2021, AppLovin Corporation, a leading marketing software company, announced the pricing of its underwritten public offering of 7,500,000 shares of its Class A common stock, at a public offering price of $83.00 per share, with all shares offered by certain of AppLovin’s stockholders, including KKR Denali Holdings L.P. The offering was upsized from a previously announced offering size of 6,500,000 shares. Wilson Sonsini Goodrich & Rosati advised AppLovin on the transaction.