Davis Polk advised the lead book-running managers in connection with the $318.8 million initial public offering of 7,590,000 shares of common stock of Poshmark, Inc., which included 990,000 shares from the full exercise of the underwriters’ over-allotment option. The common stock is listed on the Nasdaq Global Select Market under the symbol “POSH.”
Poshmark is a social marketplace that combines the human connection of a physical shopping experience with the scale, reach, ease and selection benefits of ecommerce. In doing so, it brings the power of community to buying and selling online.
The Davis Polk corporate team included partners Alan F. Denenberg and Emily Roberts and associates Ali DeGolia and Dana Lueck-Mammen. The intellectual property and technology transactions team included partner Frank J. Azzopardi and associate S. Dream Montgomery. The tax team included partner Mario J. Verdolini and associate Rebecca A. Rosen. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the Northern California and New York offices.