Simpson Thacher represented the initial purchasers, led by Goldman Sachs & Co. LLC, UBS Securities LLC and Evercore Group L.L.C., as representatives, in connection with the debut offering by Life360, Inc. (“Life360”) of an aggregate principal amount of $320 million of 0.00% Convertible Senior Notes due 2030 (the “Convertible Notes”), inclusive of Convertible Notes sold pursuant to the initial purchasers’ full exercise of their option to purchase additional Convertible Notes.
Life360 used a portion of the net proceeds from the offering to fund the cost of entering into the capped call transactions. Life360 intends to use the remaining proceeds for general corporate purposes, which may include acquisitions or strategic investments in complementary businesses, products, services or technologies.
Simpson Thacher also represented certain of the initial purchasers or their affiliates and certain other financial institutions in the capped call transactions described above that were entered into concurrently with the Convertible Notes offering.
Life360 (NASDAQ: LIF), a family connection and safety company, keeps people close to the ones they love. The category-leading mobile app and Tile tracking devices empower members to stay connected to the people, pets, and things they care about most, with a range of services, including location sharing, safe driver reports, and crash detection with emergency dispatch. Life360 delivers peace of mind and enhances everyday family life in all the moments that matter, big and small.
The Simpson Thacher team for the transaction included Heidi Mayon, Dan Webb, Barry Lau, Laura Yang and Dean Hasan (Capital Markets); Jonathan Lindabury, Marc Langer, Lindsey Meyers-Perez and Cadina Mancini (Derivatives); Jonathan Cantor, Michael Mann, Edward Grais and Kris Liu (Tax); Corina Holland (Intellectual Property); and Andrew Pagliughi (Blue Sky).