The deal is the largest U.S. IPO since November 2021

Davis Polk is advising the representatives of the underwriters in connection with the $4.87 billion initial public offering of 95,500,000 American depositary shares (ADSs) sold by a selling shareholder, each representing one ordinary share of Arm Holdings plc. The ADSs are listed on the Nasdaq Global Select Market under the symbol “ARM.” The offering is expected to close on September 18, 2023, subject to the satisfaction of customary closing conditions.

The deal is the largest U.S. IPO since November 2021.

Arm technology is building the future of computing. Its energy-efficient processor designs and software platforms have enabled advanced computing in more than 250 billion chips and its technologies securely power products from the sensor to the smartphone and the supercomputer. Together with 1,000+ technology partners, Arm is enabling artificial intelligence to work everywhere, and in cybersecurity, Arm is delivering the foundation for trust in the digital world – from chip to cloud.

The Davis Polk capital markets team includes partners Richard D. Truesdell Jr. and Derek Dostal and counsel Jacqueline Marino. The U.K. corporate team includes partners Simon Witty and Dan Hirschovits and associate Gilbert Lim. Partners Jonathan Cooklin, Dominic Foulkes and Michael Mollerus are providing U.S. and English tax advice. Partner Pritesh P. Shah is providing intellectual property advice. Counsel Marcie A. Goldstein is providing FINRA advice. Members of the Davis Polk team are based in the New York and London offices.