Orrick represented Barclays and RBC Capital Markets as joint lead book-running managers and representatives of the several underwriters for a follow-on public offering by Rapid7, Inc. (“Rapid7”) and selling stockholders of 5,950,000 shares of Rapid7 common stock, including shares purchased by the underwriters upon exercise of their entire option to purchase additional shares. The gross proceeds raised in the offering by Rapid7 were approximately $33 million and aggregate gross proceeds to the selling stockholders were approximately $98 million. KeyBanc Capital Markets and Stifel acted as book-running managers and Cowen, Raymond James, William Blair and BTIG acted as co-managers for the offering. The selling stockholders included funds affiliated with Technology Crossover Ventures and Bain Capital Ventures that have been stockholders of the company since 2011 and 2008, respectively.
Rapid7 (NASDAQ: RPD) is a leading provider of analytics solutions for security and IT operations. Orrick previously advised the underwriters in Rapid7’s $103 million initial public offering (IPO).
The Orrick team that advised the underwriters in the follow-on offering was led by Capital Markets partner Christopher Austin and included associates Kenneth Marx, Conner Pine and Will Peifer.
For Orrick’s announcement regarding Rapid7’s IPO, please see below.