The Technology team advised longtime client Toast, Inc. (NYSE: TOST) on its initial public offering of 25,000,000 shares of its Class A common stock at a public offering price of $40.00 per share, which includes the exercise in full of the underwriters’ option to purchase additional shares. The transaction raised total gross proceeds of $1.0 billion.
Toast is a cloud-based, end-to-end technology platform purpose-built for the entire restaurant community. The Toast platform provides a comprehensive suite of SaaS products, financial technology solutions including integrated payment processing, restaurant-grade hardware, and a broad ecosystem of third-party partners. Toast serves as the restaurant operating system, connecting front of house and back of house operations across dine-in, takeout, and delivery channels.
The Goodwin team was led by Gregg Katz, Andrew Pusar and Mark Bettencourt and included Katie Maxwell, Yana Shneyderman, Kristen McCarthy, Justin Anslow, Patty Shields, Sarah Bock, James Mattus, Grace Wirth, James Devendorf, Mike Whalen, Kimberly Holzel and Jinal Sharma.
For additional details on the offering, please read the closing press release and coverage of the IPO in The Wall Street Journal, Financial Times, Reuters and The Boston Globe.