Attorneys from Goodwin Procter advised Opower on its recently announced initial public offering of 6,100,000 shares of common stock. Shares priced at $19.00 per share and began trading on Friday, April 4 on the New York Stock Exchange under ticker “OPWR.”
Morgan Stanley & Co. LLC and Goldman, Sachs & Co. acted as lead book-running managers for the offering. Allen & Company LLC, Pacific Crest Securities LLC, Canaccord Genuity Inc. and Cowen and Company, LLC acted as co-managers.
Opower, a provider of cloud-based software to the utility industry, works with more than 90 utility partners and serves more than 32 million households and businesses across eight countries. The company’s platform uses big data analytics and behavioral science to enable utilities to achieve energy outcomes, including energy efficiency, customer engagement and demand response. Founded in 2007, Opower is headquartered in Arlington, Va.
The Goodwin team advising Opower was led by partners Anthony McCusker and Joe Theis, and included associate An-Yen Hu. Partner Lynda Galligan and associate Alexandra Denniston provided additional support on employee benefits and compensation matters.Additional information about Opower’s initial public offering can be found in the company’s press release.