HashiCorp®, a leader in multi-cloud infrastructure automation software, has announced the pricing of its initial public offering of 15,300,000 shares of its Class A common stock at a public offering price of US$80 per share. All of the shares are being offered by HashiCorp. The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by HashiCorp, are expected to be US$1.22 billion. The shares are expected to begin trading on the Nasdaq Global Select Market on December 9, 2021, under the ticker symbol “HCP.” The offering is expected to close on December 13, 2021, subject to the satisfaction of customary closing conditions. In addition, HashiCorp has granted the underwriters a 30-day option to purchase up to an additional 2,295,000 shares of Class A common stock at the initial public offering price, less the underwriting discounts and commissions.
Latham & Watkins LLP represents the underwriters in the offering with a capital markets team led by Bay Area partners Rick Kline and John Williams, with Bay Area associates Raul Gonzalez and Heather Durham. Advice was also provided on tax matters by Bay Area partner Grace Lee, with Bay Area associate Derek Gumm; on intellectual property and data privacy matters by Bay Area partner Michelle Gross, with Bay Area associate Amy Dippolito and Los Angeles associate Jack Chai; and on benefits and compensation matters by Bay Area partner Jay Metz.