Orrick Counsels Marcus & Millichap on $103.5 Million IPO

10.03.13

Orrick is advising Marcus & Millichap Inc., one of the largest commercial real estate brokers in the United States, in its initial public offering. On September 26, 2013, the company filed a registration statement with the Securities and Exchange Commission relating to its proposed IPO.

Marcus & Millichap plans to list its common shares on the New York Stock Exchange under the symbol MMI, with Citigroup Global Markets and Goldman Sachs serving as lead underwriters. The company, which estimates the amount to be raised at up to $103.5 million, plans to use the proceeds of the offering for general corporate purposes, including potential acquisitions of real estate companies, capital expenditures and working capital to expand its markets and services. The transaction also involves a spin-off and a unique debt-for-equity exchange.

Orrick’s Capital Markets Group regularly advises issuers and underwriters in hundreds of debt, equity and equity-related transactions, completing more than 140 initial public offerings and raising billions in proceeds.  Noted particularly for innovation in IPO transactions, the team has advised Silver Bay Realty Trust in the first single-family REIT to seek access to the public markets, Shutterstock in the first New York-based tech company IPO on the NYSE in over two years, SodaStream in one of the most successful U.S. IPOs for an Israeli company, and Sequans Communications in the first U.S. IPO for a French company in more than a decade. 

The Orrick team is led by corporate partner Brett Cooper and includes M&A and private equity partner John Seegal, tax partner Grady Bolding, emerging companies senior associate Julie Hwang, compensation and benefits senior associate Jason Flaherty, corporate associate Andrew Sparks and energy and infrastructure associate Lisa Magged.