Davis Polk advised the representatives of the initial purchasers in connection with a Rule 144A offering by Datadog, Inc. of $747.5 million aggregate principal amount of its 0.125% convertible senior notes due 2025 (which includes the exercise in full by the initial purchasers of their option to purchase up to $97.5 million additional aggregate principal amount of notes). In addition, Davis Polk advised the counterparties to the capped call transactions in connection with the offering.

Headquartered in New York City, Datadog is a monitoring and analytics platform for developers, IT operations teams and business users in the cloud age. Datadog’s SaaS platform integrates and automates infrastructure monitoring, application performance monitoring and log management to provide unified, real-time observability of its customers’ entire technology stack. Datadog is used by organizations of all sizes and across a wide range of industries to enable digital transformation and cloud migration, drive collaboration among development, operations and business teams, accelerate time to market for applications, reduce time to problem resolution, understand user behavior and track key business metrics.

The Davis Polk corporate team included partner Richard D. Truesdell Jr. and associates Carrie Guo and Elizabeth Sheerin. The Davis Polk equity derivatives team included partner John M. Brandow, counsel Justin Michael and Vidal Vanhoof and associate Crystal Chi. Partner Frank J. Azzopardi and associate Mikaela Dealissia provided intellectual property advice. Partner Po Sit and associate Bradford Sherman provided tax advice. All members of the Davis Polk team are based in the New York office.