Shearman And Sterling

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TPG’s $1 Billion Initial Public Offering

January 14, 2022

Shearman & Sterling advised TPG Inc. on the executive compensation, equity incentive, and senior executive and founder retention matters and related governance and disclosure considerations in connection with its initial public offering of 33,900,000 shares of common stock at a price to the public of $29.50 per share, resulting in total gross proceeds of approximately $1 billion.

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DBAG Fund VIII on the Acquisition of a Majority Stake in in-tech GmbH

January 12, 2022

Shearman & Sterling represented funds advised by Deutsche Beteiligungs AG (DBAG) on the acquisition of a majority stake in in-tech GmbH (in-tech), a technology company for engineering services and software, from the two founders. Alongside the fund, DBAG will hold a stake of around 15% in in-tech. The closing of the transaction is inter alia subject to approval by the competent antitrust authorities and expected in the first quarter of 2022. The founders will continue to hold a non-controlling interest in in-tech.

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Inaugural Social Bond Offering by Banco do Brasil

January 11, 2022

Shearman & Sterling advised Banco do Brasil, acting through its Grand Cayman Branch, in connection with the offering of an aggregate principal amount of US$500 million 4.875 percent social bonds due 2029 issued under its Euro Medium Term Note Program.

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Litigation Team Prepares Amicus Brief for WLF Urging Supreme Court to Clarify Disclosure Obligations Under Federal Securities Law

January 10, 2022

Partner Lyle Roberts, counsel George Anhang and associate Michael Holt prepared an amicus brief on behalf of the Washington Legal Foundation filed on December 13, 2021 asking the U.S. Supreme Court to review and reverse a decision of the U.S. Court of Appeals for the Ninth Circuit that would hold companies liable for failing to include irrelevant and stale information in their forward-looking risk disclosures.

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Ford Motor Credit Company’s $2 Billion Notes Offering

January 10, 2022

Shearman & Sterling LLP represented the underwriters in connection with Ford Motor Credit Company’s offering of two tranches of notes totaling $2,000,000,000 aggregate principal amount.

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The Bank of Nova Scotia’s $3.25 Billion Senior Medium-Term Notes Offering

January 10, 2022

Shearman & Sterling represented The Bank of Nova Scotia in connection with its registered offering of $300 million aggregate principal amount of floating rate senior medium-term notes due 2025, $1.35 billion aggregate principal amount of 1.450 percent senior medium-term notes due 2025, $750 million aggregate principal amount of 1.950 percent senior medium-term notes due 2027 and $850 million aggregate principal amount of 2.450 percent senior medium-term notes due 2032 under its U.S. senior medium-term notes program.

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Litigation Team Prepares Amicus Brief for WLF Urging Second Circuit to Grant Interlocutory Review In Prominent Securities Class Action

January 10, 2022

Partners Lyle Roberts, Mark D. Lanpher, counsel George Anhang, associate Billy Marsh, and associate Fatou Waggeh prepared an amicus brief on behalf of the Washington Legal Foundation filed on January 5, 2022, asking the U.S. Court of Appeals for the Second Circuit to review the application of recent U.S. Supreme Court precedent for securities class actions.

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AcelRx Pharmaceuticals Acquires Lowell Therapeutics

January 10, 2022

Shearman & Sterling advised AcelRx Pharmaceuticals in its acquisition of Lowell Therapeutics, a company developing Niyad™, a regional anticoagulant for the dialysis circuit during continuous renal replacement therapy for acute kidney injury patients in the hospital, which is being studied under an investigational device exemption, and has received Breakthrough Device Designation status from the FDA.

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Discount Tire Acquired Tire Rack

December 31, 2021

Shearman & Sterling advised Tire Rack Holdings, Inc. and its stockholders in its acquisition by Discount Tire. The transaction closed on December 31, 2021.

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Volcan’s $400 Million Senior Unsecured Credit Facility

December 29, 2021

Shearman & Sterling represented Volcan Compañía Minera S.A.A., a diversified Peruvian mining company, as borrower, and Compañía Minera Chungar S.A.C., Óxidos de Pasco S.A.C. and Empresa Administradora Cerro S.A.C., as guarantors, in connection with a $400 million four-year senior unsecured credit facility provided to Volcan by a syndicate of lenders.