Kirkland Advises Underwriters on KinderCare IPO

Kirkland & Ellis advised the underwriters on the initial public offering of KinderCare Learning Companies, Inc. (NYSE: KLC). The nation’s largest private provider of early childhood education by center capacity priced its IPO at $24 per share on October 8, 2024, and shares began trading on October 9, 2024. The IPO included 24 million shares of common stock, and underwriters have a 30-day option to purchase an additional 3.6 million shares. The underwriters, led by Goldman Sachs & Co. LLC and Morgan Stanley, included Barclays, J.P. Morgan, UBS Investment Bank, Baird, BMO Capital Markets, Deutsche Bank Securities, Macquarie Capital, Loop Capital Markets, Ramirez & Co., Inc. and R. Seelaus & Co., LLC. KinderCare intends to use the net proceeds that it receives from the offering to repay amounts outstanding under its existing indebtedness and pay expenses.

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The Kirkland team included capital markets lawyers Joshua Korff, Michael Kim and Allison Bell.