Davis Polk advised Morgan Stanley & Co. LLC and Credit Suisse Securities (USA) LLC as joint book-running managers in connection with the $140.4 million initial public offering of 9,686,171 shares of common stock of Portola Pharmaceuticals, Inc. (including 1,263,413 shares subject to the underwriters’ over-allotment option) at $14.50 per share. The common stock is listed on the Nasdaq Global Market under the symbol “PTLA.”
Based in South San Francisco, California, Portola Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel therapeutics in the areas of thrombosis, other hematologic disorders and inflammation for patients who currently have limited or no approved treatment options.
The Davis Polk corporate team included partner Bruce K. Dallas and associates Peter M. Lamb and Jeffrey T. Hedrick. The tax team included partner Rachel D. Kleinberg and associate Catherine Paskoff Chang. The intellectual property team included associates David R. Bauer and Nicholas D. DiChiara and law clerk Dan Karmel. Counsel Cynthia Akard, Marcie A. Goldstein and Catherine L. Martin provided executive compensation, FINRA and ‘40 Act advice, respectively. Kimberly Kakade and Nam Kim were the legal assistants on the transaction.
