Latham & Watkins advised Tremor International Ltd. (Tremor) on the pricing of its initial public offering of 6,768,953 American Depositary Shares (ADSs), representing an aggregate of 13,537,906 ordinary shares, at a public offering price of US$19.00 per ADS. Tremor has raised aggregate gross proceeds of US$128.6 million, before deducting underwriting discounts and commissions. Each ADS offered represents two ordinary shares of Tremor. The ADSs are being offered in a registered public offering in the United States. All ADSs to be sold in the offering will be sold by Tremor.
The underwriters of the offering will also have a 30-day option to purchase up to an additional 1,015,342 ADSs from Tremor at the initial public offering price. The ADSs are expected to begin trading on the Nasdaq Global Market on June 18, 2021 under the ticker symbol “TRMR”. Tremor’s ordinary shares are currently admitted to trading on the AIM market of the London Stock Exchange under the ticker symbol “TRMR”.
The Latham team was led by corporate
partners Josh Kiernan and Ryan Benedict, with corporate associates Phil Houten,
Yolanda Min, and Kirby Swartz. Advice on English capital markets matters was
provided by partner Anna Ngo and associate Connie Taylor-Cox; on US tax matters
by partner Elena Romanova and associate Colleen O’Donnell; on corporate
governance by partners Nathan Seltzer, Les Carnegie, and counsel Irina
Yevmenenko; and on specialist US securities law matters by partners Alex Cohen
and Paul Dudek.