Davis Polk advised the sole book-running manager in connection with the SEC-registered offering by Nevro Corp. of $189.75 million aggregate principal amount of its 2.75% convertible senior notes due 2025 (which included $24.75 million principal amount of convertible notes that the book-running manager purchased pursuant to its overallotment option to purchase additional convertible notes), and the sole book-running manager in connection with a concurrent $157 million SEC-registered offering by Nevro of 1,868,750 shares of its common stock (which included 243,750 additional shares that the book-running manager purchased pursuant to its option to purchase additional shares). In addition, Davis Polk also advised the counterparties to convertible note hedge and warrant transactions entered into by Nevro in connection with the convertible notes offering. Nevro’s common stock is listed on the New York Stock Exchange under the symbol “NVRO.”
Nevro is a global medical device company focused on providing innovative products that improve the quality of life of patients suffering from chronic pain.
The Davis Polk corporate team included partner Alan F. Denenberg and associate Dongbiao Shen. The equity derivatives team included partner John M. Brandow, counsel Justin Michael and associates Annie Li and Crystal Chi. The tax team included partner Rachel D. Kleinberg and associate Adam R. Brownstone. Partner Frank J. Azzopardi and associate Michael V. Policastro provided intellectual property advice. Members of the Davis Polk team are based in the Northern California and New York offices.