Davis Polk Advises Pivotal Software, Inc. on Its Initial Public Offering

Davis Polk advised Pivotal Software, Inc. on its SEC-registered initial public offering of 42,550,000 shares of Class A common stock, including the full exercise by the underwriters of their option to purchase 5,550,000 additional shares, for an aggregate price to the public of approximately $603.1 million. Pivotal issued and sold 38,667,000 shares and the selling stockholder sold an additional 3,883,000 shares. The shares are listed on the New York Stock Exchange under the symbol “PVTL.”

Headquartered in San Francisco, California, Pivotal provides a leading cloud-native platform that makes software development and IT operations a strategic advantage for its customers. Its cloud-native platform, Pivotal Cloud Foundry, accelerates and streamlines software development by reducing the complexity of building, deploying and operating new cloud-native applications and modernizing legacy applications.

The Davis Polk corporate team included partners Sarah K. Solum and Alan F. Denenberg and associates Jahnavi Pendharkar and Leeann Overstreet. Associate Bryan M. Quinn provided corporate governance advice. Counsel Michelle Ontiveros Gross provided intellectual property and technology advice. Partner Rachel D. Kleinberg and associate Andrew Imber provided tax advice. Counsel Ron M. Aizen and associate Charlotte R. Fabiani provided executive compensation advice. Members of the Davis Polk team are based in the Northern California and New York offices.