Davis Polk advised the joint book-running managers and representatives of the several underwriters on the $290 million initial public offering by Elastic N.V. The IPO consisted of a primary offering of 8,050,000 ordinary shares, including 1,050,000 ordinary shares sold pursuant to the full exercise of the underwriters’ option to purchase additional shares. The ordinary shares are listed on the New York Stock Exchange under the symbol “ESTC.”
Elastic makes the power of search – the ability to instantly find relevant information and insights from large amounts of data – available for a diverse set of applications and use cases. Elastic created the Elastic Stack, a powerful set of software products that ingest and store data from any source, and in any format, and perform search, analysis and visualization in milliseconds or less.
The Davis Polk corporate team included partner Alan F. Denenberg and associates Emily Roberts and Benson Richards. The tax team included partner Rachel D. Kleinberg and associate M. Brett Cameron. Associates Daniel F. Forester and Jason J. Bang provided intellectual property and technology advice. Counsel Ron M. Aizen and associate Justin Alexander Kasprisin provided executive compensation advice. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the Northern California and New York offices.