Willkie Advises Morgan Stanley, Deutsche Bank Securities and Jefferies in Shutterstock’s IPO

October 12, 2012

Firm assists underwriters in leading stock photo and video provider’s $76.5 million initial public offering.

On October 10, Shutterstock, Inc., a global marketplace for digital imagery, announced the pricing of its initial public offering of 4,500,000 shares of common stock at a price to the public of $17.00 per share, with a total value of $76.5 million. In addition, Shutterstock has granted the underwriters a 30-day option to purchase up to an additional 675,000 shares to cover over-allotments, if any.

Willkie advised the underwriters, led by bookrunning managers Morgan Stanley, Deutsche Bank Securities and Jefferies, in the transaction. RBC Capital Markets, Stifel Nicolaus Weisel and William Blair are acting as co-managers for the offering. The shares began trading on October 11 on the New York Stock Exchange under the symbol "SSTK." Shutterstock is a leading global provider of high-quality licensed photographs, vectors, illustrations and videos to businesses, marketing agencies and media organizations. The deal was handled by partners Gregory Astrachan and Michael Katz; of counsel Martin Miller and associates Jeffrey Fang, Tej Prakash and Geri Anne McEvoy.