Fried, Frank, Harris, Shriver & Jacobson LLP
06/16/2021 | Press release | Archived content
Lithia Motors Completes $1.15B Stock Offering and $800M Notes Offering
Fried Frank acted as counsel to Lithia Motors in a US$1.15 billion offering of 3,571,428 shares of Class A common stock (which includes the exercise in full by the underwriters of their option to purchase up to 465,838 additional shares) at a public offering price of $322.00 per share and a concurrent private placement of US$800m aggregate principal amount of 3.875% senior notes due 2029. Headquartered in Medford, Oregon, Lithia Motors is one of the largest automotive retailers in the United States.
The Fried Frank team was led by corporate partners Daniel J. Bursky, Andrew B. Barkan, and Joshua Thomas Coleman and included tax partner Joseph E. Fox and corporate associates Carole J. Rosenberg, Raffi Garnighian, and Tristan Schmidt.