Hydrofarm Holdings Group $199 million IPO
Davis Polk advised the representatives of the underwriters in connection with the $199 million initial public offering of 9,966,667 shares of common stock of Hydrofarm Holdings Group, Inc., which includes 1,300,000 shares from the full exercise of the underwriters’ over-allotment option to purchase additional shares. Hydrofarm Holdings Group, Inc. is listed on the Nasdaq Global Select Market under the symbol “HYFM.”
Based in Petaluma, California, Hydrofarm is a leading independent distributor and manufacturer of hydroponics equipment and supplies for controlled environment agriculture, including high-intensity grow lights, climate control solutions and growing media, as well as a broad portfolio of innovative and proprietary branded products. For over 40 years, Hydrofarm has helped growers make growing easier and more productive. Hydrofarm’s mission is to empower growers, farmers and cultivators with products that enable greater quality, efficiency, consistency and speed in their grow projects.
The Davis Polk capital markets team included partners Byron B. Rooney and Deanna L. Kirkpatrick and associates Angela Park, Amanda Rae Schwarzenbart and Russell Quarles. Associates Christopher C. Woller provided intellectual property advice. Partner Margaret E. Tahyar and associate Jeremy M. Sklaroff provided regulatory advice. The tax team included partner Po Sit. Counsel Marcie A. Goldstein provided FINRA advice. All members of the Davis Polk team are based in the New York office.