Latham & Watkins Advises Rent the Runway on Upsized IPO

Firm represents the world’s first and largest shared designer closet in the offering.

October 27, 2021

Rent the Runway, Inc. has announced the pricing of its upsized initial public offering of 17,000,000 shares of its Class A common stock at a price to the public of US$21 per share. In addition, Rent the Runway has granted the underwriters a 30-day option to purchase up to an additional 2,550,000 of its Class A common stock. This represents an increase of 2,000,000 shares from the previously announced offering size of 15,000,000 shares. The shares began trading on The Nasdaq Global Select Market on October 27, 2021 under the ticker symbol “RENT.” The offering is expected to close on October 29, 2021, subject to the satisfaction of customary closing conditions.

Latham & Watkins LLP represents Rent the Runway in the offering with a capital markets team led by New York partner Marc Jaffe and Boston partner Emily Taylor, with New York associates Katie Lovejoy, Zoey Wu, Nick Gonzalez, and Young Joo. Advice was also provided on public company representation matters by New York partner Jenna Cooper, with New York associate Katie Marren; on benefits & compensation matters by New York partner Bradd Williamson, with New York associate Alisa Hand and Chicago associate Samantha Voutyras; on tax matters by New York partner Jocelyn Noll, with New York associate Colleen O’Donnell; on environment, land & resources matters by New York partner Gary Gengel, with New York associate Ben Einhouse; on data privacy & security matters by Washington, D.C. partner Tony Kim, with Bay Area associates Max Mazzelli and Jennifer Howes; on IP matters by New York partner Jeffrey Tochner and Bay Area partner JD Marple; on international compliance matters by New York partners Benjamin Naftalis and Erin Brown Jones; and on payments matters by Washington, D.C. partner Todd Beauchamp, with Washington, D.C. associate Loyal Horsley.

 
 
Notice: We appreciate your interest in Latham & Watkins. If your inquiry relates to a legal matter and you are not already a current client of the firm, please do not transmit any confidential information to us. Before taking on a representation, we must determine whether we are in a position to assist you and agree on the terms and conditions of engagement with you. Until we have completed such steps, we will not be deemed to have a lawyer-client relationship with you, and will have no duty to keep confidential the information we receive from you. Thank you for your understanding.