Shearman & Sterling represented Electronic Arts Inc., a leading developer, marketer, publisher and distributor of game software and content, in connection with a private placement of $632,500,000 principal amount of 0.75% Convertible Senior Notes due 2016 and concurrent convertible note hedge and warrant transactions entered into with affiliates of the initial purchasers. Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and UBS Securities LLC acted as joint bookrunners. Part of the net proceeds of the offering was used to finance the acquisition of PopCap Games, Inc., a leading global developer, publisher and operator of casual video games, pursuant to an Agreement and Plan of Merger entered into on July 11, 2011. The convertible notes offering closed on July 20, 2011.
The Shearman & Sterling team advising Electronic Arts Inc. included partners Geoffrey Goldman (New York-Financial Institutions Advisory & Financial Regulatory) and Craig Gibian (Washington, DC-Tax); counsels Richard Alsop (New York-Capital Markets) and Sharon Lippett (New York-Executive Compensation & Employee Benefits); and associates Brian Bishop (New York-Capital Markets), Dorothea Athanasiadou (New York-Capital Markets), Nathan Mee (San Francisco-Capital Markets), Andrew Feng (New York-Financial Institutions Advisory & Financial Regulatory), Justin Houghton (New York-Financial Institutions Advisory & Financial Regulatory), Zheng Bao (Palo Alto-Intellectual Property Transactions) and Nathan Tasso (Washington, DC-Tax).