Veoneer’s $627 Million Offerings

May 28, 2019

Cleary Gottlieb represented the underwriters (led by Morgan Stanley, and including Nordea and SEB), in concurrent SEC-registered offerings by Veoneer Inc. (Veoneer) of 24 million shares of common stock and $207 million aggregate principal amount of 4% convertible senior notes due 2024 (including $27 million aggregate principal amount of notes issued pursuant to exercise in full of the underwriters’ overallotment option for the note offering).

A portion of the common stock was delivered to investors outside the United States in the form of Swedish depository receipts. The offerings, which generated $627 million of gross proceeds, priced on May 22, 2019, and closed on May 28, 2019.

Veoneer is a global leader in the design, development, manufacture, and sale of automotive safety electronics. On June 29, 2018, Veoneer became an independent company through Autoliv Inc.’s spin-off of its electronics segment.