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A&O Shearman advises underwriters of Yesway's USD322 million initial public offering

A&O Shearman advises underwriters of Yesway's USD322 million initial public offering
Published Date
May 5 2026
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A&O Shearman advised the underwriters of Yesway, Inc.’s initial public offering of 16,100,000 shares of Class A common stock at a public offering price of USD20 per share, resulting in gross proceeds to Yesway of USD322m, before deducting underwriting discounts and commissions and offering expenses. The shares began trading on The Nasdaq Global Select Market under the ticker symbol “YSWY” on April 22, 2026.

Morgan Stanley, J.P. Morgan and Goldman Sachs & Co. LLC acted as the representatives of the underwriters.

Established in 2015 and headquartered in Fort Worth, Texas, Yesway is an award-winning convenience store operator with 449 stores across nine states in the Midwest and Southwest. Yesway is renowned for its iconic foodservice offerings, diverse grocery selections, and private-label products, including the famous Allsup’s deep-fried burrito. Through strategic acquisitions, the 91 new stores it has developed and opened in the past several years, and its steadfast commitment to customer satisfaction and community engagement, Yesway continues to cement its position as one of the leading convenience retailers in the United States.

“It was a privilege to advise the underwriters and help support Yesway’s IPO journey. This transaction highlights A&O Shearman’s leading U.S. capital markets practice and integrated global platform across a range of market-leading IPOs.”

Our team was led by partners Michael Kim and Lona Nallengara, together with associates Ilya Mamin, Tianwei Liu, Joe Tambasco, and law clerk Ayako Naruke.

The team also included partners JB Betker, Larry Crouch, Jai Garg, Jason Pratt, and Kenneth Rivlin, counsel Austin Jones and associates Will Jackson, Olivia Kreft, Sydney Phipps, and Taylor Pugliese.

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