DAVIDsTEA Prices and Closes Initial Public Offering

Ropes & Gray represented DAVIDsTEA Inc. in its underwritten initial public offering of 5,865,000 shares of common stock priced at $19 per share, which closed on June 10, 2015. The offering pricing was announced June 4 and the company’s shares began trading on Nasdaq on June 5 under the ticker symbol DTEA. DAVIDsTEA is a Canadian retailer of tea and tea-related products.

The Ropes & Gray team included securities & public companies partners Jane Goldstein (Boston/New York) and Marko Zatylny (Boston); tax & benefits partners Elaine Murphy and Loretta Richard (both of Boston) and securities & public companies associate Rachel Phillips (New York). The Ropes & Gray team worked closely with DAVIDsTEA’s Canadian counsel, Osler Hoskin & Harcourt LLP, including partners Shahir Guindi and Francois Paradis.