Latham & Watkins Advises on Sovos Brands’ IPO
Sovos Brands, Inc., a high growth, purposefully-built food company, has announced the pricing of its initial public offering of 23,334,000 shares of its common stock at a price to the public of US$12 per share. The shares are expected to begin trading on the Nasdaq Global Select Market on September 23, 2021, under the ticker symbol “SOVO.” The initial public offering is expected to close on September 27, 2021, subject to the satisfaction of customary closing conditions. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 3,500,100 shares of common stock at the initial public offering price, less the underwriting discounts and commissions.
Latham & Watkins LLP represented the underwriters in the offering with a New York-based team led by capital markets partners Marc Jaffe and Ian Schuman, with associates Shawn Quinn and Shira Mendelsohn. Advice was also provided on tax matters by partner Bora Bozkurt, with associates Aaron Bernstein and Michael Syku; on IP matters by partner Jeffrey Tochner, with associate Pelin Serpin; on environmental matters by counsel David Langer, with associate Ben Einhouse; and on benefits & compensation matters by partner Bradd Williamson, with associate Anne Bracaglia.