Latham & Watkins Advises The Cheesecake Factory Incorporated on Offerings of Convertible Senior Notes and Common Stock

Multidisciplinary team advised on the offerings.

June 11, 2021

The Cheesecake Factory Incorporated has announced the pricing of its concurrent public offerings of US$300 million aggregate principal amount of .375% convertible senior notes due 2026 and 3,125,000 shares of common stock, at a public offering price of US$56 per share. The issuance and sale of the notes and common stock are scheduled to settle on June 15, 2021, subject to customary closing conditions. The Company also granted the underwriters of the note offering a 30-day option to purchase up to an additional US$45 million principal amount of notes solely to cover over-allotments and granted the underwriters of the common stock offering a 30-day option to purchase up to an additional 468,750 shares of common stock solely to cover over-allotments.

Latham & Watkins LLP represents The Cheesecake Factory in the offerings with a corporate team led by Bay Area partner Kathleen Wells and Century City partner David Zaheer, with Los Angeles associates Philip Dear, Catherine Shaw, and Alidad Damooei and New York associate Eduard Grigoryan. Advice was provided on capital markets and convertible debt matters by New York partner Greg Rodgers and Los Angeles partner Arash Aminian Baghai, with New York associate Claire Solimine; and on tax matters by New York partner Elena Romanova and Los Angeles/Century City partner Pardis Zomorodi, with New York associate Aaron Bernstein.

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