April 07, 2020
Slack Technologies, Inc. has announced the pricing of US$750 million aggregate principal amount of 0.50% convertible senior notes due 2025 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The offering was upsized from the previously announced offering of US$600 million aggregate principal amount of notes. In connection with the offering, Slack granted the initial purchasers an option to purchase up to an additional US$112.5 million aggregate principal amount of notes. The sale is expected to close on April 9, 2020, subject to customary closing conditions.
Latham & Watkins LLP represented the initial purchasers in the offering with a corporate team led by New York partners Greg Rodgers and Benjamin Cohen, with New York partner Reza Mojtabaee-Zamani and Bay Area associates John Williams, Michelle Lu, and Natalie Robertson, and New York associates Andrew Blumenthal, Claire Solimine, and Polina Tulupova. Advice was also provided on tax matters by New York partner Elena Romanova, with Michael Yu; on privacy and data security matters by London partner Fiona Maclean; on technology transaction matters by Bay Area partner JD Marple, with associate Adam Kaldor; on benefits & compensation matters by Bay Area partner Jay Metz, with associate Brianna Stellpflug; and on regulatory matters by Washington, D.C. counsel Annie E. S. Froehlich.