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Latham & Watkins Advises Owl Rock in US$401 Million Structured Capital Financing for Arctic Wolf

October 6, 2022
The financing is a first of its kind structured growth financing for a private company.

Arctic Wolf®, a leader in security operations, has announced the closing of a convertible notes offering in the aggregate principal amount of US$401 million, led by existing investor Owl Rock, a division of Blue Owl Capital, with participation from new and existing investors including Viking Global Investors, the Ontario Teachers’ Pension Plan, and funds advised by Neuberger Berman. The convertible note financing is the first private financing with built in mechanics for the notes to convert into public convertible securities once Arctic Wolf lists publicly.

Latham & Watkins LLP advised Owl Rock in the transaction with a deal team led by Bay Area partner Haim Zaltzman, Boston partner John Miller, Los Angeles partner Arash Aminian Baghai, and Houston partner Pamela Kellet, with New York associate Ryan Gold, Los Angeles associate Andrew Bentz, and Boston associate Dante Spurlock. Advice was also provided on tax matters by New York partner Bora Bozkurt and associate Aaron Bernstein; on benefits and compensation matters by New York partner Bradd Williamson and associate Madeline Hong; and on intellectual property and data privacy matter by Bay Area partner Michelle Gross with Boston associate Kiara Vaughn and Bay Area associate Irene Jang.