Davis Polk advised Goldman, Sachs & Co. and Credit Suisse Securities (USA) LLC as representatives of the several underwriters on the $92.86 million initial public offering of 5,462,500 shares of common stock of Silver Spring Networks, Inc., including 712,500 shares from the full exercise of the underwriters’ option to purchase additional shares. Silver Spring Networks’s common stock is traded on the New York Stock Exchange under the symbol “SSNI.”
Silver Spring Networks provides a leading networking platform and solutions that enable utilities to transform the power grid infrastructure into the smart grid. The smart grid intelligently connects millions of devices that generate, control, monitor and consume power, providing timely information and control to both utilities and consumers.
The Davis Polk capital markets team included partners Alan F. Denenberg and Sarah K. Solum and associates Daniel J. Luskin and Danielle Moore Burton. The tax team included partner Rachel D. Kleinberg and associate Rachel Lerner. Counsel Hayden S. Baker provided environmental advice. Counsel Marcie A. Goldstein provided FINRA advice. The intellectual property team included associate David R. Bauer. All members of the Davis Polk team are based in the Menlo Park and New York offices.
