Legal DealFolio - Volcano Corporation Accelerated Share Repurchase

Davis Polk advised J.P. Morgan Securities LLC in connection with a fixed-dollar, uncollared accelerated share repurchase transaction entered into between JPMorgan Chase Bank, National Association, acting through its agent J.P. Morgan Securities LLC, and Volcano Corporation, pursuant to which Volcano is repurchasing USD100 million of its common stock. Under the terms of the transaction, Volcano will receive an initial delivery of approximately 3.6 million shares of its common stock and is expected to receive delivery of an additional number of shares at maturity of the transaction, which will be no later than approximately four months from the effective date of the transaction. The total number of shares to be repurchased under the transaction will be determined over an averaging period and will be based on the daily volume-weighted average price of Volcano common stock over that period, less an agreed-to discount. Volcano Corporation designs, develops, manufactures and commercializes a range of precision-guided therapy tools, including intravascular ultrasound (IVUS) and fractional flow reserve (FFR) products. The Davis Polk equity derivatives team included partner Mark M. Mendez and associate Barry J. Gewolb. All members of the Davis Polk team are based in the New York office.

Deal Date:	03-12-2013	Practice Area:	Equity Capital Markets
Deal Title:	Volcano Corporation Accelerated Share Repurchase	Industry:	Healthcare Equipment & Services
Description:	Davis Polk advised J.P. Morgan Securities LLC in connection with a fixed-dollar, uncollared accelerated share repurchase transaction entered into between JPMorgan Chase Bank, National Association, acting through its agent J.P. Morgan Securities LLC, and Volcano Corporation, pursuant to which Volcano is repurchasing USD100 million of its common stock. Under the terms of the transaction, Volcano will receive an initial delivery of approximately 3.6 million shares of its common stock and is expected to receive delivery of an additional number of shares at maturity of the transaction, which will be no later than approximately four months from the effective date of the transaction. The total number of shares to be repurchased under the transaction will be determined over an averaging period and will be based on the daily volume-weighted average price of Volcano common stock over that period, less an agreed-to discount. Volcano Corporation designs, develops, manufactures and commercializes a range of precision-guided therapy tools, including intravascular ultrasound (IVUS) and fractional flow reserve (FFR) products. The Davis Polk equity derivatives team included partner Mark M. Mendez and associate Barry J. Gewolb. All members of the Davis Polk team are based in the New York office.
Financial Center:	New York	Value:	0.00-100.00
Advised Party:	Financial Advisors	Law Firm	Davis Polk
	United States		United States
Classification:	Share Repurchase Schemes	Lawyer	Mark M Mendez

Practice Areas -

Equity Capital Markets Law Firms and Lawyers

Practice Areas - Equity Capital Markets Law Firms and Lawyers