Couchbase $230.2 million IPO
Davis Polk advised the representatives of the several underwriters in connection with an initial public offering of 9,589,999 shares of common stock of Couchbase, Inc. at $24.00 per share (which includes the exercise in full by the underwriters of their option to purchase up to 1,250,869 additional shares), for total gross proceeds of $230.2 million. The common stock is listed on the Nasdaq Global Select Market under the symbol “BASE.”
Based in Santa Clara, California, Couchbase’s mission is to empower enterprises to build, manage and operate modern mission-critical applications at the highest scale and performance. Couchbase provides a leading modern database for enterprise applications.
The Davis Polk corporate team included partners Alan F. Denenberg and Emily Roberts and associate Ganiatu Afolabi. The intellectual property and technology transactions team included partner Frank J. Azzopardi and associate Chelsea Renter. The tax team included associate Shay Moyal. Counsel Marcie A. Goldstein provided FINRA advice. Associate Sijia Cai provided 1940 Act advice. Members of the Davis Polk team are based in the Northern California and New York offices.