CDT Roundup: 16 Deals, 14 Firms, 104 Lawyers, $5.6B

Healthcare deals are heating up, particularly ones that are handled by Texas lawyers.

Last year, there were roughly 55 healthcare M&A transactions the Corporate Deal Tracker tracked versus 10 in 2021. Some of the deals were for big money, including Walgreens/VillageMD’s purchase of urgent care provider Summit Health from Warburg Pincus for $8.9 billion. (Dallas lawyers for Sheppard Mullin were part of VillageMD’s deal team.)

As we pointed out in November, there’s a lot of M&A activity in the healthcare industry, with our ever-aging population, the move online with everything from electronic charts to virtual visits and physician-led practices continuing to sell out to private equity firms.

Much like the recent deal below. Private equity firm TPG, along with AmerisourceBergen Corp., announced April 20 they agreed to buy OneOncology, a network of oncology practices, from General Atlantic in a transaction valued at $2.1 billion.

Morgan Lewis weighed in on that one for AmerisourceBergen, including partner Banee Pachuca and associate Sydney Reed Swanson in Houston.

The PR folks wouldn’t let us talk to Pachuca, but she focuses her practice on healthcare law, including transactional, regulatory and compliance matters. She represents hospitals, health systems, academic medical centers, physician groups and private equity and financial investor clients in mergers, acquisitions, divestitures, joint ventures and other collaborations/alignments. 

The SMU law graduate spent time as an associate at Latham & Watkins, Baker & Hostetler and Greenberg Traurig before making partner at Morgan Lewis in 2021.

Pachuca’s last deal we reported on: Serving as regulatory counsel to Kohlberg & Co. on the private equity firm’s investment in gastroenterology platform United Digestive last month. And in November 2021, she was co-lead, with Sameer Mohan, on Generate Life Sciences’ $1.6 billion sale to CooperCompanies. Certainly a healthcare attorney worth watching.

The 16 transactions for the week ending April 22 were also worth watching — to the tune of $5.57 billion. That compares to 12 deals last week worth nearly $24 billion (thanks to a couple of whoppers). If that sounds like a big gap consider the stats from last year at this time when there were only 12 deals worth $2.2 billion.

Weekly Corporate Deal Tracker Roundup Stats

A compilation of weekly stats from The Lawbook's CDT Weekly Roundup
(Deal Values in Millions)

Week Ending	Deal Count	Amount	Firms	Lawyers	M&A Count	M&A Value $M	CapM Count	CapM Value $M
03-May-2025	11	$4,249	13	90	11	$2,226.5	2	$2,022.5
26-Apr-2025	12	$8,787	9	168	9	$6,011	3	$2,776
19-Apr-2025	11	$8,097	7	138	9	$7,985	2	$112
12-Apr-2025	13	$2,392	8	152	10	$2,065	3	$327
05-Apr-2025	19	$27,762	15	188	16	$25,473	3	$2,289
29-Mar-2025	21	$8,188	10	258	16	$4,125	5	$4,064
22-Mar-2025	19	$6,485	14	231	15	$4,128	4	$2,857
15-Mar-2025	13	$13,737	13	151	10	$9,932	4	$3,805
8-Mar-2025	7	$2,234	5	66	5	$224	2	$2,100
1-Mar-2025	11	$3,050	8	75	10	$2,550	1	$500
24-Feb-25	12	$16,397	7	149	6	$6,635	6	$9,862
17-Feb-25	17	$12,136	13	134	10	$9,411	2	$2,725
10-Feb-25	14	$7,154	9	179	9	$4,950	5	$2,204
3-Feb-25	16	$10,068	7	200	11	$7,553	5	$2,515
25-Jan-25	14	$10,261	10	125	9	$2,207	5	$8,054
18-Jan-25	19	$7,382	15	316	12	$2,300	7	$5,082
11-Jan-25	21	$33,560	16	187	16	$32,521	5	$1,039
4-Jan-25	9	$6,827	9	80	9	$6,827	0	0
21-Dec-24	11	$2,798	11	92	8	$2,229	3	$570
14-Dec-24	15	$5,323	12	186	12	$3,812	3	$1,511
07-Dec-24	16	$4,766	10	231	11	$2,321	5	2,445
30-Nov-24	10	$10,291	9	103	4	$8,290	6	$2.001
23-Nov-24	15	$4,553	15	153	11	$3,379	4	$1,174
16-Nov-24	17	$11,488	11	245	13	$10,186	4	$1,303
09-Nov-24	14	$2,110	12	139	12	$1,410	2	$700
02-Nov-24	12	$52,788	11	107	11	$52,738	1	$50
26-Oct-24	8	$3,160	8	65	7	$3,065	1	$75
19-Oct-24	12	$5,304	11	136	11	$4,554	1	$750
12-Oct-24	17	$8,438	12	150	15	$8,116	2	$322
05-Oct-24	22	$23,181	12	189	15	$19,980	7	$3,201
28-Sep-24	11	$2,356	7	144	7	$53	4	$2,303
21-Sep-24	12	$9,568	10	169	5	$4,101	7	$5,467
14-Sep-24	24	$10,988	12	235	16	$7,175	8	$3,813
7-Sep-24	12	$20,420	16	168	11	$20,307	1	$112.9
31-Aug-24	13	$20,631	9	134	12	$14,775	1	$5,856
24-Aug-24	19	$8,452	21	325	16	$7,102	3	$1,350
17-Aug-24	25	$49,196	16	304	11	$39,386	14	$9,810
10-Aug-24	20	$12,264	15	312	16	$9,794	4	$2,470
03-Aug-24	26	$16,498	16	334	18	$8,137	8	$8,361
27-Jul-24	19	$16,442	21	271	15	$13,838	4	$2,604
20-Jul-24	15	$16,016	14	184	10	$14,232	5	$1,784
13-Jul-24	20	$17,220	14	265	18	$7,146	2	$10,074
6-Jul-24	11	$3,941	11	95	8	$2,650	3	$1,291
29-Jun-24	14	$6,296	15	224	8	$6,296	6	$1,927
22-Jun-24	12	$5,679	8	137	5	$210	7	$5,469
15-Jun-24	13	$9,895	16	214	10	$5,280	3	$4,615
8-Jun-24	19	$23,859	13	239	12	$19,436	7	$4,423
1-Jun-24	12	$34,510	11	147	9	$26,110	3	$8,400
25-May-24	13	$9,684	15	171	10	$4,434	3	$5,250
18-May-24	11	$5,490	11	173	8	$3,129	3	$2,361
11-May-24	22	$14,855	14	227	16	$11,105	6	$3,750
4-May-24	13	$3,139	9	87	10	$1,297	3	$1,842
27-Apr-24	10	$6,684	6	28	10	$6,684	0	0
20-Apr-24	19	$15,989	11	147	9	$5,208	10	$10,781
13-Apr-24	13	$8,952	9	76	10	$1,652	3	$7,300
6-Apr-24	23	$26,616	14	222	14	$13,501	8	$13,116
30-Mar-24	12	$9,286	8	136	8	$4,299	4	$4,987
23-Mar-24	18	$5,451	17	266	16	$4,759	2	$692
16-Mar-24	21	$11,437	13	186	14	$9,316	6	$2,070
9-Mar-24	23	$4,695	21	218	19	$2,723	4	$1,972
2-Mar-24	20	$9,108	19	372	14	$4,558	6	$4,550
24-Feb-24	19	$16,382	12	248	15	$9,507	4	$6,875
17-Feb-24	16	$29,932	15	157	12	$29,216	4	$716
10-Feb-24	25	$10,750	17	196	19	$5,372	6	$5,379
3-Feb-24	12	$8,416	18	125	9	$3,416	3	$5,000
27-Jan-24	9	$8,165	9	87	8	$7,815	1	$800
20-Jan-24	14	$4,084	12	109	12	$3,219	2	$865
13-Jan-24	17	$33,588	12	256	12	$26,765	5	$6,823
6-Jan-24	8	$7,915	8	84	6	$7,265	2	$650
30-Dec-23	17	$14,599	12	99	15	$2,714	2	$11,885
23-Dec-23	23	$4,182	13	219	16	$1,813	7	$2,370
16-Dec-23	13	$16,436	13	280	7	$15,150	5	$1,286
9-Dec-23	26	$14,633.90	17	244	16	$8,095	10	$6,538.90
2-Dec-23	13	$6,720	9	57	12	$6,630	1	$90
25-Nov-23	9	$4,835	9	131	6	$1,785	3	$3,050
18-Nov-23	22	$6,568.70	17	184	14	$4,709.20	8	$1,859.50
11-Nov-23	15	$9,825	13	179	12	$6,581	3	$3,244
4-Nov-23	15	$20,582.50	14	193	12	$19,417.50	3	$1,165
28-Oct-23	18	$68,419.10	18	152	15	$66,646	3	$1,773.10
21-Oct-23	16	$6,755.90	16	165	15	$6,755.90	1	$3
14-Oct-23	14	$67,851.20	13	125	9	$61,998.50	5	$5,852.70
7-Oct-23	17	$6,595.50	13	228	16	$5,995.50	1	$600
30-Sep-23	17	$1,896.45	13	189	14	$806.45	3	$1,090
23-Sep-23	23	$6,432.70	17	230	16	$1,402.80	7	$5,029.90
16-Sep-23	25	$23,226.70	23	353	16	$17,239	9	$5,987.70
9-Sep-23	12	$6,369	8	102	7	$4,311	5	$2,058
2-Sep-23	14	$2,522	6	92	13	$1,322	1	$1,200
26-Aug-23	17	$12,160.25	13	202	15	$6,573.25	2	$5,587.00
19-Aug-23	19	$11,505	13	213	15	$11,255	4	$250
12-Aug-23	19	$9,698.80	13	184	7	$3,270	12	$6,428.80
5-Aug-23	13	$5,201	12	118	12	$5,051	1	$150
29-Jul-23	15	$21,031.60	13	196	11	$18,292.00	4	$2,739.60
22-Jul-23	18	$3,992	12	130	13	$2,808	5	$1,184
15-Jul-23	13	$8,254.95	13	81	13	$8,254.95	0	0
8-Jul-23	16	$5,441.45	12	172	11	$2,443	5	$2,998.45
1-Jul-23	16	$6,872	10	105	12	$5,474	4	$1,398
24-Jun-23	13	$10,914	16	201	10	$7,874	3	$3,040
17-Jun-23	17	$5,880.70	15	151	15	$4,705.70	2	$1,175
10-Jun-23	19	$8,516.10	13	111	16	$6,252.40	3	$2,263.70
June 3 2023	12	$6,104.42	12	138	8	$4,256.92	4	$1,847.50
27-May-23	17	$12,200	10	67	11	$6,165	6	$6,035
20-May-23	11	$22,458.10	8	103	4	$19,455	7	$3,003
13-May-23	12	$7,034	10	101	8	$5,460	4	$1,574
6-May-23	20	$3,297.60	18	196	17	$2,985.60	3	$312
29-Apr-23	23	$3,691.20	18	135	17	$1,969.70	6	$1,721.50
22-Apr-23	16	$5,570	14	104	14	$4,750	2	$1,000
15-Apr-23	12	$23,818.10	9	59	10	$21,618.10	2	$2,200
8-Apr-23	16	$7,949	9	173	9	$5,472	7	$3,477
1-Apr-23	21	$18,676.70	12	175	11	$10,926.70	10	$7,750
25-Mar-23	15	$8,779.50	10	141	5	$2,362	10	$6,416.50
18-Mar-23	7	$14,048.80	6	69	5	$13,345	2	$703.80
11-Mar-23	21	$11,576	16	165	16	$8,131	5	$3,445
4-Mar-23	20	$9,668	11	228	16	$8,209	4	$1,459
25-Feb-23	13	$5,335	13	130	12	$4,235	1	$1,200
18-Feb-23	14	$5,743.70	13	158	8	$898.70	6	$4,845
11-Feb-23	16	$12,088	12	137	12	$9,965	4	$2,123
4-Feb-23	17	$8,066	15	140	13	$5,614	4	$2,452
28-Jan-23	7	$2,180	7	75	5	$1,692.75	2	$488
21-Jan-23	17	$5,768	16	174	12	$1,918	5	$3,850
14-Jan-23	11	$2, 800	10	102	8	$421	3	$2,400
7-Jan-23	18	$8,296	11	167	14	$6,461	3	$1,835
31-Dec-22	14	$2,732	11	99	12	$2,092	2	$640
17-Dec	14	$7,919	13	115	12	$7,419	1	$500
10-Dec-22	14	$10,093	12	88	11	$7,093	3	$3,000
3-Dec-22	26	$12,800.90	11	172	20	$4,141	6	$8,659.90
26-Nov-22	8	$2,266.70	8	5	3	$76	5	$2,190.70
19-Nov-22	21	$2,886	15	212	19	$2,550	2	$336
12-Nov-22	13	$15,093.70	9	81	9	$14,200	4	$893.70
5-Nov-22	25	19,337.20	16	509	22	$8,267.20	3	$11,070
29-Oct-22	15	$7,805.30	9	116	14	$7,180.30	1	$625
22-Oct-22	20	$8,193.50	13	253	13	$5,442	7	$2,751.50
15-Oct-22	9	$3,046.10	9	139	7	$2,588.30	2	$457.80
8-Oct-22	19	$2,011.80	12	114	16	$833.80	3	$1,178
1-Oct-22	23	$5,532.90	16	156	18	$4,952.30	5	$580.60
24-Sep-22	18	$5,194	14	216	15	$4,050	3	$1,144
17-Sep-22	21	$8,352.30	12	320	15	$4,759.60	6	$3,592.70
10-Sep-22	15	$19,853.50	10	126	13	$19,403.60	2	$450
3-Sep-22	9	$2,312	9	62	9	$2,312	0	0
27-Aug-22	16	$30,891.70	10	135	15	$30,666.40	1	227.7
20-Aug-22	12	$1,977	8	152	9	925	3	$1,052
13-Aug-22	18	$8,004.70	11	242	11	$2,844.70	7	$5,160
6-Aug-22	24	$7,948.90	12	240	17	$3,577	7	$4,371.90
30-Jul-22	8	$6,941	9	78	7	$6,839	1	$102
23-Jul-22	11	$801	11	92	10	$801	1	0
16-Jul-22	14	$3,650	10	122	14	$3,650	0	0
9-Jul-22	10	$3,557.70	7	68	9	$3,557.70	1	0
2-Jul-22	18	$8,609.40	13	152	15	$2,754.40	3	$5,855
25-Jun-22	15	$6,142	13	146	9	$2,017	6	$4,125
18-Jun-22	17	$11,890.10	14	228	15	$11,410	2	479.7
11-Jun-22	17	$7,600	12	123	10	$2,300	7	$5,300
4-Jun-22	12	$2,937	10	127	9	$692	3	$2,245
28-May-22	9	$3,197.60	11	86	9	$3,197.60	0	0
21-May-22	14	$7,284.50	12	185	11	$6,609	3	$675.50
14-May-22	11	$306.60	9	80	10	$306.60	1	$225
7-May-22	16	$10,451.75	12	108	12	$1,827	4	$8,624.75
30-Apr-22	16	$2,296.50	16	157	12	$895.50	4	$1,401
23-Apr-22	10	$2,241	11	58	8	$1,641	2	$600
16-Apr-22	11	$6,643	7	156	8	$2,359	3	$4,284
9-Apr-22	17	$4,429	14	184	11	$1,690	6	$2,739
2-Apr-22	13	$1,755	8	84	10	$1,145	3	$610
26-Mar-22	11	$3,205	8	65	6	$200	5	$3,005
19-Mar-22	13	$2,239.17	9	106	13	$2,239.17	0	0
12-Mar-22	18	$12,016	11	239	15	$11,965	2	$51.35
5-Mar-22	17	$6,786	13	137	13	$5,161	4	$1,625
26-Feb-22	12	$5,095	8	149	9	$4,437.50	3	$658
19-Feb-22	17	$22,229	17	174	14	$21,354	3	$875
12-Feb-22	12	$2,344.70	10	73	8	$641.70	4	$1,703
5-Feb-22	11	$2,503	8	99	11	$2,503	0	0
29-Jan-22	11	$3,872	12	101	12	$3,872	0	0
22-Jan-22	13	$5,143.50	10	99	12	$4,842.50	1	$301
15-Jan-22	12	$7,605	9	155	9	$6,480	3	$1,025
8-Jan-22	13	$8,256.20	11	102	13	$8,256.20	0	0
1-Jan-22	9	$1,273.80	6	50	9	$1,273.80	0	0
25-Dec-21	21	$4,734.75	11	176	16	$3,410	5	$1,324.75
18-Dec-21	26	$7,325.20	15	193	18	$3,640.20	8	$3,685.20
11-Dec-21	16	$5,017	10	109	13	$1,417	3	$3,600
4-Dec-21	14	$2,310	8	86	8	$2,310	6	$1,882.05
27-Nov-21	9	$3.460.1	10	101	6	$1,758	3	$1,702.60
20-Nov-21	20	$22,792	15	157	12	$18,864.50	8	$3,928
13-Nov-21	21	$26,729	12	178	13	$11,822	8	$14,907
6-Nov-21	12	$8,303	13	157	10	$6,682	3	$1,621
30-Oct-21	21	$10,368	15	218	15	$9,24.4	6	$1,103.00
23-Oct-21	21	$18.783.1	15	222	11	$12,314	10	$6,468.60
16-Oct-21	15	$3,868	11	118	15	$2,293	2	$1,575
9-Oct-21	20	$8,610	16	175	16	$7,795	4	$815
2-Oct-21	14	$6,250	11	137	10	$5,200	4	$1,050
25-Sep-21	11	$11,460	9	93	7	$10,200	4	$1,250
18-Sep-21	11	$16,603	8	99	8	$15,084	3	$1,519
11-Sep-21	17	$10,653	11	103	13	$8,503	4	$2,150
4-Sep-21	13	$7,222	10	89	11	$6,715	2	$507
28-Aug-21	12	$763	9	63	11	$663	1	$100
21-Aug-21	12	$29,659	7	79	11	$29,579	1	$80
14-Aug-21	22	$17,845	11	199	12	$12,805	10	$5,04
7-Aug-21	17	$13,670	12	139	15	$11,766	2	$1,904
31-Jul-21	21	$8,160	11	134	10	$3,574	10	$4,586
July 24,2021	21	$6,367	11	139	15	$3,712	6	$2,655
17-Jul-21	14	$4,009	11	124	12	$2,015	2	$1,994
10-Jul-21	16	$3,997	13	143	11	$1,597	4	$2,4
3-Jul-21	24	$7,492	13	94	16	$3,769	8	$3,722
26-Jun-21	10	$4,995	7	85	8	$3,847	2	$1,148
19-Jun-21	28	$16,830	8	228	9	$1,861	19	$14,968
12-Jun-21	26	$27,238	15	209	19	$25,602	7	$1,636
5-Jun-21	15	$15,539	13	100	13	$14,709	2	$600
29-May-21	35	$20,279	11	145	28	$18,64	7	$1,639
22-May-21	24	$53,208	14	174	17	$51,047	7	$2,161
15-May-21	18	$10,620	13	220	11	$5,870	7	$4,809
8-May-21	17	$10,400	11	156	15	$8,386	2	$2,500
1-May-21	21	$7,200	16	115	12	$3,808	9	$3,392
24-Apr-21	8	$20,200	9	31	8	$20,200	0	0
17-Apr-21	14	$6,270	8	102	11	$40,180	3	$2,260
10-Apr-21	15	$8,940	13	129	14	$7,990	1	$950
3-Apr-21	18	$19,513	10	151	12	$16,923	6	$2,590
27-Mar-21	27	$13,942	15	244	14	$4,300	13	$9,633.50
20-Mar-21	11	$2,046	4	102	3	$270	8	$1,776
13-Mar-21	15	$3,270	9	109	6	$538	9	$2,732
6-Mar-21	24	$13,617	10	196	13	$10,395	11	$3,222
27-Feb-21	19	$8,105	12	139	15	$4,970	4	$3,135
20-Feb-21	9	$8,820	9	153	8	$8,520	1	$300
13-Feb-21	12	$4,852.60	7	81	7	2,766	5	$2,086.60
6-Feb-21	18	$9,752	13	153	14	$5,222	4	$4,530
30-Jan-21	18	$9,449	9	182	15	$8,753.80	3	$695.30
23-Jan-21	14	$8,150	8	118	6	$4,000	8	$4,150
16-Jan-21	17	$6,783	13	138	11	$2,400	6	$4,382.90
9-Jan-21	22	$6,829	14	135	18	$3,139.30	4	$3,690
2-Jan-21	7	$1,466	7	60	7	$1,466	0	0
26-Dec-20	18	$15,900	12	163	16	$5,300	1	$600
19-Dec-20	18	$9,769	14	110	14	$8,426	4	$1,343
12-Dec-20	10	$7,200	9	100	9	$3,325	1	$3,830
5-Dec-20	15	$4,261	9	122	9	$2,780	6	$1,481
28-Nov-20	19	$7,758	10	110	13	$4,003	6	$3,755
14-Nov-20	14	$864.10	14	157	12	$289.10	2	$575
7-Nov-20	13	$6,332	9	129	9	$2,483.50	4	$3,849
31-Oct-20	10	$3,995.80	8	103	6	$3,231.10	4	$754.70
24-Oct-20	6	$18,100	6	58	5	$17,709	1	$350
17-Oct-20	8	$351.90	5	55	8	$351.90	0	0
10-Oct-20	7	$5,229	3	50	4	$735	3	$4,494
3-Oct-20	14	$21,428	9	173	9	$17,535	5	$3,893
26-Sep-20	10	$12,770	8	93	5	$10,300	5	$2,470
19-Sep-20	14	$8,365	9	101	6	$1,020	8	$7,345
12-Sep-20	6	$4,406	8	59	3	$1,270	3	$3,136
5-Sep-20	11	$5,191	8	117	9	$4,061	2	$1,130
29-Aug-20	11	$2,531	9	94	5	$1,130	6	$1,401
22-Aug-20	18	$6,574	12	140	7	$1,930	11	$4,644
15-Aug-20	13	$4,991	10	97	7	$1,216	6	$3,775
8-Aug-20	12	$32,092	11	112	9	$30,457	3	$1,635
1-Aug-20	7	$5,287	8	76	5	$3,687	2	$1,600
25-Jul-20	9	$18,751	6	67	7	$18,403	2	$348
18-Jul-20	6	$1,982.50	5	50	4	$1,407.50	2	$575
11-Jul-20	11	$565.10	12	75	10	$65.10	1	$500
4-Jul-20	10	$8,889	8	98	9	$8,788	1	$100.30
27-Jun-20	8	$6,874	10	50	5	$4,972.50	3	$2,081.50
20-Jun-20	12	$4,444	9	115	7	$2,829	5	$1,615
13-Jun-20	6	$3,582	4	37	2	$350	4	$3,232
6-Jun-20	11	$3,213.70	8	65	7	$470	4	$2,743.70
30-May-20	8	$7,335	7	48	6	$4,639	2	$2,697
23-May-20	4	$432.40	4	34	3	$432.40	1	0
16-May-20	6	$310	6	34	5	$310	1	0
9-May-20	18	$5,630	16	124	14	$3,180	4	$2,450
2-May-20	15	10,400	10	90	8	$1,900	7	$,8,500
25-Apr-20	8	$3,400	9	36	5	$1,000	3	$2,450
18-Apr-20	19	$9,500	14	92	8	$185.70	11	$9,360
11-Apr-20	12	$6,000	9	40	5	$190	7	$5,800
4-Apr-20	14	$8,200	11	68	10	$2,200	4	$6,000
28-Mar-20	16	$6,500	13	96	10	$3,700	6	$2,800
21-Mar-20	11	$11,910	7	33	7	$2,250	4	$9,960
14-Mar-20	7	809.8	6	34	6	684.8	1	125
7-Mar-20	16	$2,500	15	70	13	$669	3	$1,400
29-Feb-20	13	$15,260	13	128	11	$11,760	2	$3,500
22-Feb-20	12	$3,700	10	92	10	$2,560	2	$1,130
15-Feb-20	16	$1,250	10	84	12	$35	4	$1,222
8-Feb-20	18	$6,080	14	123	14	$2,595	4	$3,485
1-Feb-20	21	$20,900	12	101	14	$17,860	7	$3,060
25-Jan-20	13	$7,430	13	62	12	$6,430	1	$1,000
18-Jan-20	23	$9,580	15	120	19	$6,580	4	$3,000
11-Jan-20	21	$14,200	18	199	16	$1,020	5	$13,200
4-Jan-20	22	$6,400	11	119	16	$3,204	6	$3,245
28-Dec-19	22	$7,150	19	175	18	$6,800	4	$327.40
14-Dec-19	24	$36,300	23	167	19	$9,500	5	$26,800
7-Dec-19	11	$10,400	11	55	7	$1,082	4	$9,370
November 30. 2019	14	$2,450	12	126	12	$1,760	2	$692.50
23-Nov-19	16	$1,995	10	41	11	$615	5	$1,380
16-Nov-19	15	$3,820	13	135	11	$2,500	4	$1,271
9-Nov-19	25	$12,900	17	182	23	$12,200	2	$575
2-Nov-19	10	$2,470	12	61	9	2,450	3	$22
26-Oct-19	12	$5,560	14	70	11	$3,860	1	$1,700
19-Oct-19	8	$6,600	8	138	8	$6,600	0	0
12-Oct-19	19	$4,300	14	55	16	$3,800	3	$500
5-Oct-19	18	$14,500	19	166	15	$11,100	3	$3,400
28-Sep-19	19	$8,100	18	132	18	$7,560	1	$550
21-Sep-19	14	$6,300	16	66	11	$2,160	3	$4,170
14-Sep-19	15	$23,800	12	56	11	$21,250	4	$2,570
7-Sep-19	17	$3,500	15	98	14	$1,900	3	$1,600
31-Aug-19	5	$8,700	6	50	5	$8,700	0	0
24-Aug-19	16	$10,000	14	82	15	$4,250	1	$5,750
16-Aug-19	10	$1,680	5	52	7	$650	3	$950
9-Aug-19	17	$17,700	15	68	14	$3,900	3	$13,800
2-Aug-19	13	$5,760	12	108	13	$5,760	NA	NA
27-Jul-19	11	$7,300	13	76	8	$6,570	3	$730
20-Jul-19	13	$11,800	13	125	11	$5,300	2	$6,500
13-Jul-19	10	$775	7	46	8	$542.50	2	$233
6-Jul-19	7	$2,500	9	85	7	$2,500	0	0
29-Jun-19	23	$8,290	15	154	17	$2,300	6	$5,970
22-Jun-19	17	$10,700	10	139	14	$7,700	3	$3,000
15-Jun-19	11	$13,500	14	160	11	$13,500	NA	NA
8-Jun-19	13	$2,870	17	55	11	$1,570	2	$1,300
1-Jun-19	10	$4,460	11	60	8	$4,140	2	$315
25-May-19	17	$4,360	14	79	14	$3,700	3	$612
18-May-19	22	$9,000	17	150	16	$3,400	6	$5,600
11-May-19	18	$19,800	17	177	15	$18,300	3	$1,500
4-May-19	10	$7,075	6	32	8	$6,900	2	$175
27-Apr-19	15	$3,200	14	117	14	$3,160	1	$40
20-Apr-19	13	$13,500	10	90	9	$12,200	4	$1,300
13-Apr-19	16	$38,900	14	91	14	$37,800	2	$1,100
6-Apr-19	12	$6,870	11	94	10	$6,730	2	$50
30-Mar-19	15	$6,470	12	84	10	$7,91.5	5	$5,677
23-Mar-19	18	$6,450	14	91	14	$5,042	4	$1,408
16-Mar-19	14	$10,180	12	115	11	$8,800	3	$1,300
9-Mar-19	9	$1,800	6	49	8	$1,300	1	$500
2-Mar-19	20	$3,033	16	107	14	$1,817	6	$1,262
23-Feb-19	12	$2,040	8	69	9	$614.60	3	$1,430
16-Feb-19	16	$9,970	18	77	16	$9,970	0	0
9-Feb-19	14	$6,400	10	110	14	$6,400	0	0
2-Feb-19	18	$6,740	15	99	16	$5,720	2	$950
26-Jan-19	13	$2,770	11	67	11	$918.95	2	$1,850
19-Jan-19	15	$3,819	16	76	12	$2,594	3	$1,225
12-Jan-19	18	$7,283	14	92	15	$1,683	3	$5,600
5-Jan-19	10	$529	12	50	10	$529	0	0
22-Dec-18	17	$2,570	13	87	14	$941	3	$1,629
15-Dec-18	10	$2,860	8	26	8	$264	2	$2,600
8-Dec-18	15	$1,819	16	65	12	$552	3	$1,267
1-Dec-18	12	$7,500	10	90	9	$1,200	3	$6,200
28-Nov-18	15	$4,500	11	107	14	$4,000	1	$500
19-Nov-18	18	$6,137	13	98	13	$2,142	5	$3,995
14-Nov-18	18	$9,200	13	152	15	$8,500	3	$694
6-Nov-18	16	$17,300	16	183	14	$16,361	2	$950
29-Oct-18	14	$14,400	18	127	17	$13,800	1	$600
24-Oct-18	13	$6,140	13	126	11	$5,122	2	$1,018
17-Oct-18	18	$18,390	15	125	14	$12,292	4	$6,098
10-Oct-18	29	$3,149	18	104	20	$1,647	9	$819
2-Oct-18	18	$9,300	11	67	14	$7,300	4	$2,000
25-Sep-18	13	$7,000	11	75	10	$6,000	3	$995
18-Sep-18	9	$3,570	7	44	9	$3,570	0	0
11-Sep-18	13	$5,900	10	132	13	$5,900	0	0
7-Sep-18	14	$5,000	15	86	11	$4,000	3	$1,000
29-Aug-18	15	$20,700	14	79	13	$4,700	2	$16,000
20-Aug-18	10	$12,400	11	53	8	$11,380	3	$1,057
14-Aug-18	12	$19,900	12	132	9	$18,889	3	$1,011
7-Aug-18	16	$68,600	11	106	13	$67,259	3	$1,340
31-Jul-18	15	$15,100	15	95	11	$13,060	4	$2,060
23-Jul-18	13	$2,130	15	60	10	$1,804	3	$1,100
17-Jul-18	14	$5,370	17	98	9	$4,310	5	$1,100
9-Jul-18	16	$11,200	15	74	10	$11,080	6	$862
3-Jul-18	13	$7,000	7	81	12	$6,330	1	$750
25-Jun-18	15	$8,800	13	97	9	$4,970	6	$3,930
18-Jun-18	13	$14,200	14	80	7	$221	6	$14,290
11-Jun-18	12	$6,300	8	96	8	$5,910	4	$803
6-Jun-18	13	$14,500	10	88	8	$14,154	5	$579
31-May-18	11	$4,890	10	63	8	$3,240	3	$1,790
22-May-18	15	$20,400	11	63	9	$19,808	6	$885
15-May-18	15	$4,700	15	106	10	$3,900	5	$643
9-May-18	11	$1,400	13	88	9	$1,300	2	$560
1-May-18	8	$14,250	7	88	7	$13,400	1	$450
24-Apr-18	12	$5,300	6	61	11	$4,470	1	$800
17-Apr-18	9	$1,800	10	44	7	$2,330	2	$1,434
11-Apr-18	11	$2,500	8	32	6	$1,690	5	$809
3-Apr-18	15	$13,400	11	121	9	$12,020	6	$1,090
28-Mar-18	10	$4,000	10	92	7	$3,870	3	$215
19-Mar-18	17	$5,800	13	51	10	$590	7	$5,165
12-Mar-18	15	$3,130	11	43	11	$2,360	4	$788
6-Mar-18	19	$5,400	13	116	10	$1,530	9	$4,860
27-Feb-18	20	$6,600	13	69	14	$5,530	6	$1,030
19-Feb-18	15	$5,500	14	111	10	$3,990	6	$1,980
12-Feb-18	23	$10,900	17	157	12	$7,110	11	$3,840
5-Feb-18	16	$8,600	13	100	7	$1,330	9	$7,800
30-Jan-18	11	$12,600	11	68	5	$7,300	6	$4,982
24-Jan-18	19	$9,400	15	129	5	$2,010	14	$7,337
18-Jan-18	10	$6,280	8	49	2	$2,100	8	$4,188
9-Jan-18	12	$16,500	12	92	9	$15,890	3	$475
3-Jan-18	10	$2,500	9	47	8	$2,350	2	$150
27-Dec-17	15	$9,000	15	113	9	$7,568	6	$1,784
18-Dec-17	15	$13,800	16	164	9	$13,010	7	$1,118
11-Dec-17	14	$9,700	10	126	12	$2,940	4	$8,500
4-Dec-17	6	$1,800	6	31	5	$1,510	1	$300
28-Nov-17	7	$3,850	8	76	4	$3,260	3	$285
16-Nov-17	10	$2,700	10	48	6	$1,840	4	$856
8-Nov-17	15	$2,380	17	91	10	$1,860	5	$516
1-Nov-17	12	$4,700	17	94	9	$3,400	4	$1,300
23-Oct-17	15	$10,500	10	67	10	$9,780	4	$1,530
18-Oct-17	6	$2,000		37	3	$225	3	$1,820
10-Oct-17	12	$6,570		100	9	$3,880	3	$3,360
2-Oct-17	8	$3,100	11	19	3	$1,630	5	$1,750
25-Sep-17	8	$4,880	8	79	5	$2,660	5	$2,070
18-Sep-17	9	$4,770			3	$300	6	$4,470
12-Sep-17	11	$4,430			8	$2,030	3	$2,400
1-Sep-17	4	$1,310			3	$317	1	$1,000
23-Aug-17	11	$13,640	9		8	$11,840	3	$1,800

M&A/FUNDINGS

TPG, AmerisourceBergen to buy OneOncology in $2.1B deal

Deal Description: AmerisourceBergen Corp. and private equity firm TPG Inc. announced April 20 they agreed to buy OneOncology, a network of oncology practices, in a transaction valued at $2.1 billion. The deal would diversify AmerisourceBergen beyond its large drug distribution business. TPG, AmerisourceBergen and OneOncology’s physicians and management will form a new joint venture that will acquire OneOncology from its shareholders, including majority owner General Atlantic. AmerisourceBergen will purchase 35 percent of the JV for about $685 million in cash. Beginning on the third anniversary of the closing of the JV’s acquisition of OneOncology and ending on the day before the closing’s fourth anniversary, TPG will have a put option that may require AmerisourceBergen to purchase all of the other interests in the JV, including TPG’s interest, at a price equal to 19 times OneOncology’s adjusted EBITDA for the most recently ended 12-month period. In addition, beginning on the fourth anniversary and ending on the day before the closing’s fifth anniversary, AmerisourceBergen will have a call option to purchase all of the other interests in the joint venture, including TPG’s.

Expected Closing: By the end of September if the deal clears regulators

AmerisourceBergen’s Financial Advisor: J.P. Morgan Securities

AmerisourceBergen’s Outside Counsel: Morgan, Lewis & Bockius led by partners Aaron Suh in Philadelphia and Crystal Fang in Los Angeles and associate Lindsay Mozdziock in Philadelphia but including partner Banee Pachuca and associate Sydney Reed Swanson in Houston; also Sidley Austin

TPG’s Outside Counsel: Debevoise & Plimpton and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo

TPG’s Financial Advisor: Guggenheim Securities

OneOncology/General Atlantic’s Financial Advisor: Centerview Partners

OneOncology/General Atlantic’s Outside Counsel: Paul, Weiss, Rifkind, Wharton & Garrison

Braemont closes inaugural fund with $525M in committed capital

Deal Description: Braemont Capital announced April 17 that it closed Braemont Partners I with about $525 million in capital commitments. The fund surpassed its initial $500 million target, making it the largest inaugural growth equity fund raised in Texas history, according to Bloomberg. Commitments were secured from family offices, executives and entrepreneurs.

Braemont’s Outside Counsel: Braemont founder Robert Covington said April 23 Haynes and Boone provided counsel on the funding and its firm counsel is Kirkland & Ellis. He didn’t name individuals. Haynes and Boone said April 26 the team consisted of Dallas partners Evan Hall, Vicki Odette and Taylor Wilson, New York associate Tim Piscatelli and Houston associate Susan Ballard.

Notes: Kirkland & Ellis’ corporate partner Thomas Laughlin advised Braemont and KE’s corporate partner John Kaercher assisted JettyCove Holdings on their investments in RedTeam Software, a construction management software provider, and in connection with RedTeam’s acquisition of PASKR, a cloud-based construction management solution. Financial terms were not disclosed.

Sunergy combines with SPAC Esgen in $475M deal

Deal Description: Esgen Acquisition Corp., a special purpose acquisition company, announced April 19 it reached a definitive business combination agreement with Sunergy Renewables, a provider of residential solar and energy efficiency solutions. Upon closing of the business combination, Sunergy will become a publicly traded company with an expected pro forma enterprise value of $475 million. The transaction is anticipated to generate gross proceeds of up to about $65 million in cash, underpinned by a $10 million participation in the common stock private investment in public equity, or PIPE, by Esgen’s sponsor, Esgen LLC, which will be funded by the sponsor’s affiliate Energy Spectrum Partners VIII at $10 per share. Proceeds will be used to fund operations and growth. Sunergy delivered about $123 million in revenue and $11 million in EBITDA in 2022, fueled by nearly 2,400 installations performed during the year. ESGEN is backed by Energy Spectrum Partners VIII. 

Expected Closing: Q4 2023

Esgen’s Financial/Capital Markets Advisor: Cohen & Co. Capital Markets, a division of JVB Financial Group

Esgen’s/Energy Spectrum’s Outside Counsel: Kirkland & Ellis led by corporate partners Kevin Crews and Jack Shirley and capital markets partners Julian Seiguer and Matthew Turner; and including tax partners Mark Dundon and Bill Dong

Sunergy’s Outside Counsel: Eversheds Sutherland and Ellenoff Grossman & Schole

SER Capital acquires Charah Solutions for $426M

Deal Description: Charah Solutions Inc. announced April 17 that it agreed with SER Capital Partners to acquire all of the issued and outstanding shares of common stock of the company for $86 million. The deal involved $20 million for the common stock, $36 million on Series A preferred stock and $30 million on Series B preferred stock. The company had $350 million in debt as of the third quarter, giving it an enterprise value of about $426 million. Under the proposed transaction, SER would acquire all of the common stock of Charah for $6 per share, which represents a 134 percent premium over the company’s 20-day volume-weighted average price of $2.56 as of April 14. The company’s 8.50 percent senior notes due August 31, 2026, will remain outstanding after the closing. SER, Charah Solutions and Bernhard Capital Partners, Charah’s largest equity holder, entered into an agreement to vote Bernhard’s shares of capital stock in favor of the transaction. Based in Louisville, Ky., Charah provides environmental services and byproduct recycling to the power generation industry.

Expected Closing: Q3 2023 if it clears shareholders

Charah’s Financial Advisor: Houlihan Lokey

Charah’s Outside Counsel: Willkie Farr & Gallagher led by Mark Cognetti, Justin Sommerkamp, Brian Lennon and Debra Sinclair in New York supported in Texas by Archie Fallon and Andrew Thomison

SER’s Financial Advisor: Guggenheim Securities

SER’s Outside Counsel: Jones Day led by partners Ben Stulberg in Cleveland and Jeff Schlegel in Houston

Bernhard’s Outside Counsel: Kirkland & Ellis with an all-Texas team led by corporate partners Bill Benitez and Jennifer Gasser and associates Michael Bassi, Gabrielle Sumich and Brett Mele; debt finance partner Lucas Spivey and associate Marco Chan; capital markets partner Julian Seiguer; environmental transactions partner Ty’Meka Reeves-Sobers; and tax partners Mark Dundon and Joe Tobias.

AEA Investors SBPE closes $384M fund, buys Singer Industrial

Deal Description: AEA Investors Small Business Private Equity announced April 17 it completed a continuation fund with $384 million in capital commitments and then acquired a majority interest in Singer Industrial, a distributor of industrial rubber and fluid power products, from AEA Investors Small Business Fund II LP and its other owners. The fund is anchored by AEA Small Business Private Equity Funds, Apollo S3 and LGT Capital Partners-managed funds and supported by other investors. Since SBF II’s first investment in Singer in 2011, the company completed nearly 30 acquisitions. 

AEA SBPE’s Outside Counsel: Kirkland & Ellis led by investment funds partners Matthew Nadworny, Kevin Wessel and Chris Kallos and corporate partners Jon Benloulou and Matt Whited and associate Stephanie Owen. The team included investment funds partners Michael Belsley and Tim Long and associates Neeloy Azad, Victor Ghazal and Colin Monaghan.

Secondaries Adviser: Jefferies

Apollo S3’s and LGT’s Outside Counsel: Weil, Gotshal & Manges led by private equity partner Brian Parness and private funds partner Stephanie Srulowitz in New York

Air Water Ventures to go public through $300M combo with SPAC Athena

Deal Description: Air Water Ventures Ltd. and Athena Technology Acquisition Corp. II, a publicly listed special purpose acquisition company, announced April 20 that they entered into a definitive agreement for a business combination that will result in the formation of The Air Water Co. The merger values the company at a pre-money equity value of $300 million. Athena currently holds $261 million of cash in trust and existing Air Water equity security holders are expected to hold about 42 percent of the issued and outstanding shares of common stock immediately following the consummation of the transaction, assuming no redemptions by Athena Technology II’s existing shareholders and up to $60 million in intended financing. After closing, the Air Water Co. is expected to be listed on the New York Stock Exchange. Based in Abu Dhabi, the company produces drinking water at a lower cost and environmental impact than bottled water using an airflow system designed to extract the maximum amount of water while using minimum electricity. Its plug-and-play technology can be sited almost anywhere there is power without pipework or traditional water infrastructure. It’s led by Alex Guy and Dave Cupit.

Expected Closing: Q1 2024 if it clears Athena stockholders

Financial Advisors: Jett Capital to Air Water and Cohen & Co. Capital Markets, a division of JVB Financial Group, to Athena

Air Water’s Outside Counsel: White & Case led in part by partner Jason Rocha and including Bryson Manning, Steven Amrein and Sadi Moradi.

Athena’s Outside Counsel: Latham & Watkins led by Chicago partner Daniel Breslin, Houston partner Ryan Maierson and New York partner Peyton Worley with associates Cierra Warren and Joe Altieri.

Kirkland aids Braya Renewable on $300M investment from ECP

Deal Description: Kirkland & Ellis said April 21 it counseled Braya Renewable Fuels, a Newfoundland and Labrador, Canada-based producer of low-emission renewable fuels, on a $300 million preferred equity investment from Energy Capital Partners, an energy transition-focused investor in the electricity, clean energy, renewable and sustainable infrastructure sectors.  

From Kirkland: The all-Texas team was led by corporate partner Tony Johnston and associate Jessica Berkowitz with support from associates Colleen Haile and Daly Brower; and including tax partner Stephen Butler and associate Nicole Martin.

Halcyon attracts $44M from SYN, Corner Ventures

Deal Description: Halcyon, an Austin-based ransomware protection startup, announced April 20 that it raised $50 million in Series A funding led by SYN Ventures with an additional investment by Dell Technologies Capital, Corner Ventures and others.

Fervo Energy attracts $10M investment from Devon Energy

Deal Description: Fervo Energy, a provider of geothermal technology, announced April 18 a $10 million strategic investment from Devon Energy Corp. The investment initiates a partnership between two companies and applies Devon’s 50-plus years in oil and gas to Fervo’s geothermal capabilities. Fervo is the first geothermal company to successfully drill and complete a horizontal well pair for commercial geothermal production.

Devon’s In-House Counsel: Dennis Cameron was appointed general counsel in January 2021 after Devon’s merger with WPX Energy (he was previously GC of WPX)

Rayburn Electric Cooperative buys Sherman gas plant

Deal Description: Rockwall, Texas-based Rayburn Electric Cooperative announced April 19 that it entered into a definitive agreement to acquire ownership of the Panda Sherman Power Plant. Terms weren’t disclosed. Located in Grayson County, the 758 megawatt natural gas-fueled power plant employs 27 people and began commercial operations in 2014. The plant is capable of supplying clean power for approximately 750,000 homes. The plant will be renamed Rayburn Energy Station once the acquisition achieves standard closing conditions. Rayburn, formed in 1979, is a generation and transmission cooperative that acquires and transmits energy to its four Member-owned, power-distribution cooperatives: Fannin County Electric Cooperative, Grayson-Collin Electric Cooperative, Farmers Electric Cooperative and Trinity Valley Electric Cooperative. The four serve more than 500,000 Texas residences and businesses. Rayburn owns 265 miles of transmission line throughout North Texas as well as a 25 percent interest in the Freestone Energy Center, which produces 1,000 megawatts of natural gas combined cycle energy in Freestone County, Texas.

Rayburn’s In-House Counsel: General Counsel Chris Anderson in Rockwall

Rayburn’s Outside Counsel: Dentons on the acquisition agreement, including partners Peter Thieman in Washington, D.C., and Carl Steen in Los Angeles and New York, and Eversheds Sutherland on the acquisition financing, including Cindy Upchurch in Atlanta

Panda Fund’s In-House Counsel: General Counsel Creede Williams in Dallas

Panda Fund’s Outside Counsel: Courtney Smith and Gil Porter of Haynes and Boone in New York and Colin Mize at Wick Phillips in Dallas

Mitsui acquires unconventional gas asset in Texas

Deal Description: Mitsui & Co. Ltd., through its U.S. based subsidiary, announced April 20 it completed the acquisition of a 92 percent working interest in an unconventional gas asset in Texas from the operator, Silver Hill Eagle Ford E&P, a unit of Silver Hill Energy Partners. The asset, a part of the Hawkville field, is in South Texas with access to the Gulf Coast industrial area, which includes liquefied natural gas export terminals and ammonia plants. Additional gas production is expected from the asset with further development. Mitsui E&P USA, a wholly owned subsidiary of Mitsui, will develop and operate the asset, aiming for stable gas production of 200 million cubic feet per day from the field. Mitsui is also promoting liquefaction and export of U.S. natural gas to global markets and methanol production businesses using natural gas as feedstock.

Mitsui’s Outside Counsel: Sidley Austin including partner Katy Lukaszewski, senior counsel James Rice, senior managing associate John Brannan and associate Kevin Hess

Silver Hill’s Outside Counsel: Shearman & Sterling led by partners Sarah McLean and Todd Lowther and including Erin Kaufman, Sarah George, Amy Das and Ira Aghai

Mitratech acquires Circa, Trakstar

Deal Description: Mitratech, a Austin provider of legal, compliance and HR software, announced April 11 the acquisition of two technology companies: Milwaukee-based Circa, a federal contracts and diversity equity and inclusion software provider; and Trakstar, a Seattle-based talent acquisition, development and performance management solution. Mitratech said the purchases augment the company’s portfolio of compliance, background screening, employee onboarding and policy management solutions. Mitratech is backed by Ontario Teachers’ Pension Plan Board.

HAK advised on Teamworks, Ecore deals

Deal Description: Hunton Andrews Kurth said April 19 that it advised on two M&A transactions last month, both for undisclosed sums. The firm counseled HBG Core Holdings on its sale of Arms Software to Teamworks Innovations Inc. on March 24 and Ecore International Inc. on its purchase of 360 Tire Recycling Group on March 31.

On HBG deal: Partner Mike Goldman led in Richmond, Va., with assistance by partners L. Scott Austin, Will Freeman and Alexander McGeoch and associate Caitlin Scipioni in Dallas

On Ecore deal: Partner Gary Thompson led in Richmond, Va., with assistance by partner Alexander McGeoch and associate Caitlin Scipioni

CAPITAL MARKETS/FINANCINGS

Baytex offers $800M in senior notes

Deal Description: Baytex Energy Corp. announced April 13 the upsize to $800 million and pricing of its previously announced private offering of senior unsecured notes due 2030. The notes will bear interest at a rate of 8.5 percent per year and mature on April 30, 2030. The notes were priced at 98.709 percent of par to yield 8.75 percent per year. The closing was expected to occur on April 27. Baytex intends to use the net proceeds, together with borrowings under its credit facilities, to fund the cash portion of the consideration for the Ranger Oil Corp. merger, repay certain outstanding indebtedness of Ranger and Baytex and pay fees and expenses in connection with the merger. The merger is expected to close in the second quarter but the merger’s closing isn’t conditioned
upon the offering’s completion.

Initial Purchasers’ Outside Counsel: Latham & Watkins with a corporate deal team led by Austin partners David Miller and Samuel Rettew with Houston associate Michael Pascual, Austin associates Brian Golde and Manu Vadlamudi and Houston associate Justin Reinking. Advice was also provided on tax matters by Houston partner Bryant Lee with Houston associates Dylan White and Molly Elkins; and on environmental matters by Houston partner Joshua Marnitz with Washington, D.C. associate Andy Landolfi.

Baytex’ Outside Counsel: Vinson & Elkins led by partners Mike Telle and David Wicklund, counsel Joanna Enns and associate Layton Suchma, with assistance from associates Chandler Jones, Natalie Harrison, Cole Leveque, Mimi Nguyen and Josh Rutenberg. Also advising were partners Wendy Salinas and Jason McIntosh, counsel Allyson Seger and associates Tyler Underwood and Steve Campbell (tax); partner Becky Baker and associate Ryan Penner (employment/labor); partner Matt Dobbins and associate Alyssa Sieja (environmental); and partner Joo Hyun Lee and associates Mary Daniel Morgan and Kenneth Strain (executive compensation/benefits).

HAK advised Franklin BSP Realty’s $200M offering

Deal Description: Hunton Andrews Kurth said April 19 that it served as underwriters’ counsel for Benefit Street Partners Realty Trust Inc. on Franklin BSP Realty Trust Inc.’s $200 million at-the-market offering of common stock on April 14. The underwriters included Jonestrading Institutional Services, J.P. Morgan Securities Inc., Raymond James & Associates, JMP Securities, B. Riley Securities Inc. and Barclays Capital.

From HAK: The team was led by partner Rob Smith in Washington, D.C., but included partner James Davidson in Houston

OTHER MATTERS

Latham & Watkins said April 21 it represented ExxonMobil on a carbon capture and storage agreement with Linde. ExxonMobil will transport and permanently store up to 2.2 million metric tons a year of CO₂ from Linde’s $1.8 billion clean hydrogen plant in Beaumont scheduled to start operating in 2025. This is ExxonMobil’s largest such project to date. The transaction was led by Houston corporate Houston partner Jonathan Castelan with associates Sam Bentley and Kevin Donovan. Advice was also provided on tax matters by Houston partner Jim Cole. This is the second one that Castelan has done for Exxon.

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Baker Botts said April 20 it is representing Sunnova Energy International in connection with a conditional commitment by the U.S. Department of Energy Loan Programs Office to provide an up to $3 billion partial loan guarantee, which equates to a 90 percent guarantee of up to $3.3 billion of financing to support loans originated by Sunnova under a new solar loan channel named “Project Hestia.” Project Hestia would provide disadvantaged individuals and communities with increased access to Sunnova services by indirectly and partially guaranteeing the cash flows associated with those consumers’ loans. Sunnova expects the DOE loan guarantee will support up to $4 billion to $5 billion in Sunnova loan originations, reduce its weighted average cost of capital and generate interest savings. The transaction is expected to close in the second quarter of this year and Sunnova plans to issue its first securitization under the program in the first half. Baker Botts lawyers involved from Texas included corporate partner Travis Wofford and associate Thomas Blackwell, labor and employment partner Jennifer Trulock, tax partner Michael Bresson and advisory partner Danny David.