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Latham & Watkins Advises on Portillo’s Inc.’s Public Follow-on Common Stock Offering in “Synthetic Secondary” Transaction
August 18, 2022
Firm represents the underwriters in the offering by the fast-casual restaurant.
Portillo’s Inc. (Nasdaq: PTLO), the fast-casual restaurant concept known for its menu of Chicago-style favorites, closed on August 16, 2022 its underwritten public offering of 8,000,000 shares of its Class A common stock at a price to the public of US$23.75 per share. The underwriters have a 30-day option to purchase up to an additional 1,200,000 shares of its Class A common stock at the public offering price, less underwriting discounts and commissions.
Latham & Watkins LLP represented the underwriters in the offering with a capital markets team led by New York partners Marc Jaffe, Ian Schuman, and Adam Gelardi, with associates MacLane Taggart and Jacob Weiner.