White & Case advises on Nordnet’s SEK 10.378 billion IPO

Global law firm White & Case LLP has advised Carnegie Investment Bank AB, J.P. Morgan Securities plc and Citigroup Global Markets Limited, as joint global coordinators, and ABG Sundal Collier AB, Joh. Berenberg, Gossler & Co. KG, DNB Bank ASA, Sweden branch and Skandinaviska Enskilda Banken AB (publ), as joint bookrunners, on the SEK 10.378 billion initial public offering (IPO) and Nasdaq Stockholm listing of Nordnet.

Founded in 1996, Nordnet is a leading pan-Nordic digital savings and investments platform. It was one of Sweden’s first internet brokers and later expanded its operations to include banking and pension services. Nordnet is now primarily active in three business areas: savings and investments, pensions and loans.

The shares of Nordnet started trading on Nasdaq Stockholm on 25 November 2020.  The offering was substantially over-subscribed, attracting very strong interest from large Swedish and international institutional investors as well as the general public in Sweden, Norway, Denmark and Finland. The market capitalisation of Nordnet, based on the IPO price of SEK 96 per share, is approximately SEK 24 billion.  As a result of the IPO, Nordnet will have more than 32,000 shareholders.

The White & Case team which advised on the transaction was led by partners Johan Thiman (Stockholm) and Mikko Hulkko (Helsinki) and included partners Chad McCormick (Houston) and Martin Järvengren (Stockholm), counsel Doron Loewinger (London) and associates Christoffer Nilmén, Antonia Severin, Christian Meijling and Johanna Wagner (all Stockholm), Thomas Killeen (Helsinki), Laura Kitchen (London) and Michael Rodgers (Houston).

Latham advises Berkeley Lights in initial public offering

Berkeley Lights, Inc., a leader in Digital Cell Biology, has announced the pricing of its initial public offering of 8,100,000 shares of common stock at a public offering price of $22.00 per share. All of the shares of common stock are being offered by Berkeley Lights. In addition, Berkeley Lights has granted the underwriters a 30-day option to purchase up to an additional 1,215,000 shares of common stock at the initial public offering price, less the underwriting discounts and commissions. Berkeley Lights’ common stock began trading on the Nasdaq Global Select Market on July 17, 2020, under the ticker symbol “BLI.” The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Berkeley Lights, are expected to be approximately $178.2 million, excluding any exercise of the underwriters’ option to purchase additional shares.

Latham & Watkins LLP represents Berkeley Lights, Inc. in the offering with a life sciences capital markets team led by Bay Area partner Brian Cuneo with Bay Area associates Alexander White, Meredith Peake, Raul Gonzalez, Theresa Bloom and Amanda Dillon. Advice was also provided on tax matters by Bay Area partner Grace Lee, with Bay Area associate Abigail Friedman; on benefits and compensation matters by Bay Area partner Ashley Wagner; on intellectual property matters by Bay Area partner Judith Hasko, with Bay Area associate Gavin Liu; and on regulatory matters by Washington, D.C. partner Elizabeth Richards and Bay Area counsel Betty Pang, with Washington, D.C. associate Chad Jennings.

Latham & Watkins advises Inari Medical in upsized IPO

Inari Medical, Inc., a commercial-stage medical device company focused on developing products to treat and transform the lives of patients suffering from venous diseases, has announced the pricing of its upsized initial public offering of 8,202,565 shares of its common stock at a public offering price of US$19.00 per share, for total gross proceeds of approximately US$156 million, before deducting underwriting discounts and commissions and offering expenses. All of the shares are being offered and sold by Inari. In addition, Inari has granted the underwriters a 30-day option to purchase up to an additional 1,230,384 shares of common stock at the initial public offering price, less underwriting discounts and commissions. Inari’s common stock began trading on the Nasdaq Global Select Market on May 22, 2020 under the symbol “NARI.”

Latham & Watkins LLP represents Inari Medical, Inc. in the initial public offering with a capital markets team led by Orange County partner Shayne Kennedy and New York partner Nathan Ajiashvili, with Orange County associates Ross McAloon, Eric Hanzich, and Jacob Walsh. Advice was also provided on benefits and compensation matters by Los Angeles partner Michelle Carpenter, with Orange County associates Sara Schlau and Gabrielle Masse; on tax matters by Los Angeles partner Samuel Weiner, with Orange County associate Janet Hsu; on intellectual property matters by Bay Area partner Judith Hasko, with San Diego associate Robert Yeh; and on regulatory matters by Washington, D.C. partner Elizabeth Richards and Brussels partner Hector Armengod, with Bay Area counsel Betty Pang, Washington, D.C. counsel Nicole Liffrig Molife, Washington, D.C. associate Chad Jennings and New York associate Heath Ingram.