Reuters reported that Crocs said Blackstone Group is making a $200 million investment that will give the private equity firm a 13% stake in the company. Moelis & Co acted as financial advisor, and Perkins Coie provided legal counsel for Crocs.
Reuters said further Blackstone was advised by Piper Jaffray & Co, while Simpson Thacher & Bartlett acted as legal counsel in connection with the investment.
In exchange for the $200 million, Blackstone will receive preferred stock that can convert to common stock in three years if certain conditions are met, and it will also receive two board seats, Reuters said further.
To read the Reuters article, click here.