Medallia, Inc. $575 Million Convertible Notes Offering

Davis Polk advised the representatives of the initial purchasers in connection with a Rule 144A offering by Medallia, Inc. of $575 million aggregate principal amount of its 0.125% convertible senior notes due 2025, which included $75 million aggregate principal amount of notes issued pursuant to the exercise in full of the initial purchasers’ option to purchase additional notes. Davis Polk also advised the counterparties to capped call transactions entered into by Medallia in connection with the offering.

Headquartered in San Francisco, California, Medallia was founded in 2001 to help the world’s largest companies understand and improve customer experiences at scale. In doing so, it created a new category of enterprise software, experience management.

The Davis Polk corporate team included partner Alan F. Denenberg, counsel Jeffrey Gould and associates Daniel Fox and Ganiatu Afolabi. The equity derivatives team included partner Mark M. Mendez and associates Joseph Luizzi, Lindsey B. Meyers-Perez and Yini Chen. Partner Lucy W. Farr provided tax advice. Partner Frank J. Azzopardi provided intellectual property advice. Members of the Davis Polk team are based in the Northern California and New York offices.