Simpson Thacher recently represented the underwriters, led by Deutsche Bank Securities Inc., Barclays Capital Inc., Morgan Stanley & Co. Incorporated and Citigroup Global Markets Inc., in connection with a follow-on offering of 28,750,000 ordinary shares of Avago Technologies Limited, including shares issued upon the full exercise of the underwriters’ over-allotment option, resulting in aggregate gross proceeds of $500.5 million. All of the shares were offered by existing securityholders of Avago. The selling shareholders included members of Avago’s senior management and its majority shareholder, an entity controlled by investment funds affiliated with Kohlberg Kravis Roberts & Co. and Silver Lake Partners.
Avago is a leading designer, developer and global supplier of a broad range of analog semiconductor devices with a focus on III-V based products for the wireless communications, wired infrastructure, industrial and automotive electronics, and consumer and computing peripherals target markets.
The Simpson Thacher team included Bill Hinman, Nidhi Shah, Adam Bentley, Noah Richmond and paralegal Stephanie Alessi (Capital Markets); Tristan Brown and Grace Lin (Executive Compensation and Employee Benefits); Jeffrey Ostrow and Keren Siman-Tov (Intellectual Property); Chad Pehrson (Litigation); Sean Austin and Jennifer Klein (Tax); and Andrew Pagliughi and Jennie Getsin (FINRA and Blue Sky).