Firm Advises Morgan Stanley, Deutsche Bank and Jefferies in Shutterstock’s Follow-On Offering

September 20, 2013

Willkie assists underwriters in global commercial digital imagery provider’s $276 million offering of common stock.

On September 19, Shutterstock, Inc., a leading global provider of commercial digital imagery, announced the pricing of its follow-on offering of 4,600,000 shares of its common stock at a price to the public of $60.00 per share. Willkie advised the underwriters, led by bookrunning managers Morgan Stanley, Deutsche Bank and Jefferies, in the $276 million offering. Allen & Company LLC, RBC Capital Markets, Stifel and William Blair are acting as co-managers. Both Shutterstock and the existing stockholders granted the underwriters an option to purchase up to an additional 690,000 shares of common stock.

Based in New York City, Shutterstock is a leading global provider of high-quality licensed photographs, vectors, illustrations and video clips to businesses, marketing agencies and media organizations around the world. Willkie also advised the underwriters in Shuterstock’s successful 2012 IPO.

The current deal was handled by partner Gregory Astrachan; of counsel Martin Miller and associates Margaret Hanson, Tej Prakash and Evan Goodman.