Coupa Software $230 Million Convertible Senior Notes Offering

Davis Polk advised the representatives of the initial purchasers in connection with a Rule 144A offering by Coupa Software Incorporated of $230 million aggregate principal amount of its 0.375% convertible senior notes due 2023, including $30 million aggregate principal amount of convertible senior notes pursuant to the exercise of the initial purchasers’ option to purchase additional securities. In addition, Davis Polk advised counterparties to capped call transactions in connection with the offering.  

Coupa provides a unified, cloud-based spend management platform that connects organizations with suppliers globally. Coupa offers procurement, invoicing and expense management modules designed to provide greater visibility and control over how companies spend money. Coupa is based in San Mateo, California.

The Davis Polk corporate team included partner Sarah K. Solum, counsel Jeffrey Gould and associates Marcus K. Hintze, Dylan Service and Katherine Schloss Ackerman. The tax team included partner Rachel D. Kleinberg. Counsel Michelle Ontiveros Gross provided intellectual property and technology advice. The Davis Polk equity derivatives team included partner John M. Brandow and counsel Justin Michael. Members of the Davis Polk team are based in the Northern California and New York offices.