Latham & Watkins Represents The Cheesecake Factory in Upsized US$500 Million Convertible Senior Notes Offering

The Cheesecake Factory Incorporated (NASDAQ: CAKE) has announced the pricing of its offering of US$500 million aggregate principal amount of 2.00% convertible senior notes due 2030 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. The offering size was increased from the previously announced offering size of US$450 million aggregate principal amount of notes. The issuance and sale of the notes are scheduled to settle on February 28, 2025, subject to customary closing conditions. The Cheesecake Factory also granted the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional US$75 million principal amount of notes.

Latham & Watkins LLP represents The Cheesecake Factory in the offering with a corporate team led by partners Kathleen Wells, Greg Rodgers, and Arash Aminian Baghai, with associates Jacob Walsh, Andrew Bentz, and Daniel Weiss. Advice was also provided on tax matters by partner Elena Romanova.