Symetra’s IPO
January 26, 2010
On January 21, 2010, Symetra Financial Corporation (“Symetra”) priced an initial public offering of its common stock at $12.00 per share, raising $364.8 million of total proceeds. This is the largest in the first wave of new IPOs in the U.S. this year.
The offering consists of 20,699,510 primary shares to be sold by Symetra and 9,700,490 secondary shares to be sold by existing Symetra stockholders. Shares of Symetra common stock commenced on January 22 on The New York Stock Exchange under the ticker symbol “SYA.” The underwriters have a 30-day option to purchase up to an additional 4,560,000 shares of common stock to cover over-allotments, if any.
The Cravath team includes partner William J. Whelan III and associates D. Scott Bennett and Eugene Y. Yoon on corporate matters; partner Steven L. Gordon and associate Carrie B. Galloway on tax matters; and partner Eric W. Hilfers and associates Kerry Halpern-Skoglund and Daniel A. Birnhak on executive compensation and benefits matters. E. Campbell Agyapong also worked on corporate matters.
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People
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J.D., 1998, University of Chicago Law Schoolwith Honors
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A.B., 1995, Princeton University
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Admitted In
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J.D., 1983, Fordham University School of Lawcum laude
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B.A., 1980, University of Virginiawith Distinction
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J.D., 1981, Harvard Law Schoolcum laude
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A.B., 1978, Cornell Universitycum laude
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