Box, Inc. Goes Public: Goodwin Procter Represents Underwriters in Successful IPO

At Founders Workbench, we try to provide regular updates of important business news, notable court decisions and other legal developments that may impact startup founders. When we see a true success story – particularly one supported by members of the broader Goodwin Procter team – we make sure to flag the key details for our clients and friends in the startup community.

When Box, Inc. completed its initial public offering (IPO) last month, Goodwin Procter attorneys represented the underwriters in advising on the offering of 14.375 million shares of Class A common stock.

The IPO represents the most significant inflection point yet for the 10-year-old company, which began trading on the New York Stock Exchange on January 23 under the symbol BOX.

For the startup community, it’s yet another example of a dynamic young technology company that successfully managed rapid growth from concept all the way to exit. For the attorneys at Goodwin Procter, it serves as a case study in the comprehensive service offerings we provide to companies seeking to make the journey from idea to IPO.

Details of the Box IPO include the following:

  • IPO of 14.375 million shares of Class A common stock;
  • Shares priced at $14 per share;
  • Total raised: $201.25 million;
  • Underwriting syndicate led by Morgan Stanley & Co. LLC; and
  • Goodwin Procter represented the underwriters.

Founded in 2005 and based in Los Altos, Calif., Box is a cloud-based, mobile-optimized Enterprise Content Collaboration platform that enables organizations of all sizes to easily and securely manage their content and collaborate internally and externally.

The Goodwin team advising on the offering was led by partners Rick Kline, Anthony McCusker and An-Yen Hu, and included partner Lynda Galligan, counsel Nic Frey and associates Sarah Axtell, Jennifer Tighe and Alexandra Denniston.

Additional information regarding the offering is available in the Box press release.

Questions regarding this transaction and the issues presented can be directed to Rick Kline at rkline@goodwinprocter.com or Anthony McCusker at amccusker@goodwinprocter.com.

 
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