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Our lawyers provide innovative and practical counsel on a wide variety of capital raising and securities law compliance matters. We represent clients ranging from emerging private companies to established public companies. With each, we build long-term relationships, generating efficiencies and helping them realize their business goals.
Paul, Weiss advised General Atlantic and Newlight Partners in the initial public offering of their portfolio company Oak Street Health, a fast-growing network of primary care centers for adults on Medicare. Oak Street, which offered 17.9 million shares at $21 per share, above the high end of its upwardly revised range of $19 to $20, began trading shares on the New York Stock Exchange under the symbol “OSH” on August 6 and closed on August 10. The company raised approximately $377 million in a deal that valued the company at upwards of $5 billion, or nearly 10 times its 2019 revenue of $556.6 million.
General Atlantic holds a 32.5% stake in the company following the IPO. J.P. Morgan, Goldman Sachs & Co. LLC, Morgan Stanley, William Blair and Piper Sandler acted as joint bookrunning managers for the offering. Baird and Truist Securities, formerly known as SunTrust Robinson Humphrey, acted as co-managers for the offering.
The Paul, Weiss team included corporate partners Matthew Abbott, Christopher Cummings, Ellen Ching and Conrad van Loggerenberg and counsel Philip Heimowitz; tax partners Patrick Karsnitz and Lindsay Parks; and antitrust counsel Marta Kelly.August 10, 2020