Latham & Watkins Advises Teladoc Health, Inc. in Upsized US$1,000 Million Convertible Senior Notes Offering

Interdisciplinary team represented the leading global provider of comprehensive virtual healthcare services in the offering.

May 20, 2020

Teladoc Health, Inc., a leading global provider of comprehensive virtual healthcare services, has announced the closing of US$1,000 million aggregate principal amount of 1.25% convertible senior notes due 2027 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The base offering was upsized to US$850 million aggregate principal amount of notes from the previously announced offering of US$800 million, and included the full exercise of the initial purchasers’ option to purchase up to an additional US$150 million aggregate principal amount of notes. The sale closed on May 19, 2020.

Latham & Watkins LLP represented Teladoc Health, Inc. in the offering with a corporate team led by New York partner Marc Jaffe and Washington, D.C. partners Rachel Sheridan and Brandon Bortner, with associates Christopher Clark, Lucas Balchun, and Gabrielle Blum. Advice was also provided on tax matters by Los Angeles partner Samuel Weiner and associate Brian Rogers, with New York partner Bora Bozkurt; on finance matters by Washington, D.C. partner Scott Forchheimer, with associates Jennifer Kent and Maggie Wilder; on benefits & compensation matters by Washington, D.C. partner Matthew Conway, with associate Nikhil Kumar; and on intellectual property and cybersecurity matters by Washington, D.C. associate Morgan Brubaker.

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