May.13.2019
Orrick has advised leading location sharing app operator Life360 on its initial public offering on the Australian Securities Exchange under the ticker symbol “360.”
The IPO was completed via an offering of chess depositary interests (CDIs) over shares of common stock (shares) in Life360 on a 3 CDIs to 1 share basis, at an IPO price of A$4.79 per CDI. Life360 issued 23.5 million CDIs to raise A$112.7 million of new capital with existing shareholders selling 6.8 million CDIs for gross proceeds of A$32.8 million. Total proceeds raised were A$145.4 million.
The team advising Life360 was led by Greg Heibel and included Andy Thorpe, Joseph Perkins, Christine McCarthy, Emily Tabatabai, Steve Malvey, Laura Bloxham, Jevon Potts, Thomas Joraanstad, Jake Routhier and Kathryn Montalvo.