The Fresh Market announced the pricing of an initial public offering of its common stock at $22.00 per share. Cravath represented The Fresh Market in this transaction. The offering will consist of 13,175,000 shares to be sold by stockholders of The Fresh Market. The underwriters have a 30-day option to purchase up to an additional 1,976,250 shares of common stock from the selling stockholders at the public offering price, less the underwriting discount. The Fresh Market common stock began trading on The NASDAQ Global Select Market on November 5, 2010, under the symbol “TFM.” The transaction closed on November 10, 2010.
The Cravath team included partner Craig F. Arcella and associates O. Keith Hallam, Eugene Y. Yoon and Bryan C. Friedman on corporate matters; partner Eric W. Hilfers and associates Lori Diamond Goodman and Michael J. Schobel on executive compensation and benefits matters; partner Andrew W. Needham and associates Annie Kim and Kara L. Mungovan on tax matters; and partner Jeffrey A. Smith on environmental matters.