Orrick Advises Underwriter in Rapid7 Secondary Offering
Orrick represented the underwriters in the $103 million initial public offering (IPO) of cyber security firm Rapid7, Inc. Morgan Stanley & Co. LLC and Barclays Capital Inc. are the joint book-running managers for the offering. Pacific Crest Securities, a division of KeyBanc Capital Markets Inc., William Blair & Company, L.L.C., Raymond James & Associates, Inc., and Cowen and Company, LLC are acting as co-managers. The offering of 6,450,000 shares of common stock priced to the public at $16 per share and began trading on The Nasdaq Global Market on July 17, 2015 under the ticker symbol "RPD". Founded in 2000, Boston-based Rapid7 is a leading provider of security data and analytics solutions that enable organizations to implement an active, analytics-driven approach to cyber security.
The Orrick capital markets team was led by partner Christopher Austin and supported by counsel Stephen Ashley, and associates Kenneth Marx, Spencer Cohen and Mauhan Zonoozy. In addition, regulatory support was provided by partner Harry Clark; IP and patent review was provided by partner Robert Isackson and associate James Maune; and Tony Kim and Aravind Swaminathan counseled on privacy issues.
In 2015, Orrick has advised on or is in the process of working on ten publicly and confidentially-filed technology company equity offerings, including both IPOs and follow-ons. Over the past two years, the firm has helped clients complete nearly 600 venture capital-backed transactions raising over $7 billion and closed private technology company mergers and acquisitions valued at nearly $10 billion. The firm was named Tech Group of the Year for 2014 by Law360.