The great thing about M&A is that you always have something to worry about — even when you don’t.
So, when The Texas Lawbook‘s Corporate Deal Tracker told us that M&A deal count was down in the fourth quarter in Texas, we could also tell you it was the best fourth-quarter deal count in years. It’s a mixed message, to be sure.
But according to Pitchbook’s 2024 Global Annual Report, the fourth quarter was apparently down everywhere. Deal value for the year eclipsed $3.7 trillion over an estimated 45,191 deals. In North America, we eclipsed $2 trillion across 17,509 deals — a 16.4 percent rise year-over-year in value and a 9.4 percent bump YoY in count.
It was a good year. But that was then. Does that fourth quarter dip bode ill for 2025?
“The markets are flashing the all-clear sign after the most severe boom-bust cycle since the global financial crisis, suggesting the trade winds are poised to carry M&A on a prosperous course in the coming year,” notes Pitchbook’s PE senior analyst Garrett Hinds.
After years of worrying about valuations and inflation, says Pitchbook, dealmakers have begun to let go of the halcyon days of 2021: days of limitless, low-cost financing, pent-up demand and low-price expectations following a year on the pandemic sidelines.
But particularly notable in the Pitchbook analysis is an apparent rebound of the sponsor-backed deal, not only in deal count, but in valuation as quality investors digest the market on its own terms.
Evaluating that can be particularly difficult since a large number of such deals, being private, are not fully or publicly disclosed. And that is significant, says Hinds, when we consider that approximately 95% of all M&A acquirees are private companies, and roughly 70% of all fully disclosed M&A deals are below $100 million in size.
This comes as no surprise to Vinson & Elkins, which has been shifting its areas of practice to become more PE-focused, a process that began several years ago.
“While public company representations are still central to many of our practices, we believe it was the right decision then, and continues to be now, to be seen as a go-to firm for leading private equity sponsors,” Michael P. Gibson, an Austin-based M&A and venture capital-focused partner at V&E said. “Private equity firms are sophisticated clients that are particularly nimble in their deployment of capital.”
Dallas partner Crosby Scofield says Texas is particularly suited to PE investment.
“The same tailwinds leading to growth in Texas — a pro-business regulatory environment, robust energy supply, a talented workforce, and cities with broad cultural and lifestyle appeal — will likewise attract and compel private equity firms to invest from and in Texas,” Scofield said.
The firm also expects the growing demand for domestic energy and transmissions, fueled by the uptick in the development of data centers and the reshoring of manufacturing, to present PE firms with many high-growth opportunities, another reason attracting them to invest in Texas.
Dealing with PE investors often requires a “uniquely holistic and team-based approach” to working with and advising firms in the sector, says Abby Branigan, another V&E partner in Dallas.
“Private equity has already shown it is here to stay and will continue to drive deal activity,” she said.
The week ending Feb. 1 saw 16 deals valued at $10.1 billion, a particularly solid week with 11 of the reported transactions coming in $7.5 billion in M&A and fundings. This compares to the 14 deals valued at $10.3 billion the week prior. This time last year, we saw 12 deals for $8.4 billion.
Weekly Corporate Deal Tracker Roundup Stats
A compilation of weekly stats from The Lawbook's CDT Weekly Roundup
(Deal Values in Millions)
(Deal Values in Millions)
| Deal Count | Amount | Firms | Lawyers | M&A Count | M&A Value $M | CapM Count | ||
|---|---|---|---|---|---|---|---|---|
| 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/Funding
Viper Energy Acquires Diamondback’s Upstream Assets for $4.45B
Viper Energy announced on Jan. 30 that it has agreed to acquire mineral and royalty interests from Diamondback Energy Inc., its Midland-based parent, in exchange for units of its operating subsidiary and $1 billion in cash in a transaction valued at $4.45 billion. Additionally, Diamondback will gain 69.6 million tax-advantaged units of Viper’s operating subsidiary. The OpCo units, to be issued with equal shares of Class B common shares of Viper, will also be available to exchange for Class A common shares of Viper. The shares will be valued at $44.95 per share, with the pricing coming from the volume-weighted 30-day price of Viper’s common stock for the period ending Jan. 24. Viper plans to fund the deal with cash on hand, borrowings from its existing credit facility and proceeds from additional capital market transactions. Kirkland & Ellis advised Diamondback while Hunton AK counseled Viper’s audit committee in the deal. For more information, see our daily coverage here.
Diversified Energy Acquires Houston’s Maverick Natural Resources for Nearly $1.3B
Diversified Energy, a Birmingham-based acquirer and manager of natural gas and oil-focused assets, announced on Jan. 27 that it acquired a private Houston-based oil and gas company, Maverick Natural Resources, for $1.275 billion. The Houston-based firm has been a portfolio company of EIG Global Energy Partners since 2015. Diversified will pay out the nearly $1.3 billion acquisition figure by assuming $700 million of Maverick’s debt, issuing 21.2 million new shares worth $345 million and paying $207 million in cash. Additionally, a new $1.5 billion credit facility, including Diversified and Maverick’s RBL assets, will aid in financing the deal and refinancing Maverick’s RBL. Additionally, as a part of the initial transaction details, EIG will still own nearly 20 percent of the Houston-based firm’s shares, and a break fee of $50 million will be applied if Diversified breaks the terms of the deal. Maverick Natural Resources in-house counsel, Roy Mitchell (Houston), tapped Kirkland & Ellis to represent Maverick and EIG Global Energy Partners in the agreement. Diversified Energy’s Pittsburgh-based Chief Legal and Risk Officer, Ben Sullivan, tapped Latham & Watkins’ London branch and Gibson, Dunn & Crutcher as its outside counsel on the deal. For more information, see our daily coverage here.
Blue Sage Capital closes $618M fund
Deal Description: Blue Sage Capital, an Austin-based private equity firm primarily investing in the lower-middle markets, announced the final close of its Blue Sage Capital IV fund at $618 million on Jan. 29. The fund received a substantial investment from its GP and overall was oversubscribed, closing above the Austin-based firm’s initial target of $400 million and its hard cap of $550 million. Furthermore, the firm did so without a placement agent for the fund. In addition, the final amount of $618 million is more than double the size of its prior fund, which closed in 2020, worth $300 million. Outside of the GP’s considerable investment, the fund also included a global group of LPs that included pension funds, large family offices, college and university endowments, charitable foundations, insurance companies and other entrepreneurial firms, many of whom have contributed to its prior funds. The firm also had to limit the fund size to maintain its lower-middle market focus and couldn’t include a handful of other LPs interested in contributing to the fund because of this. Blue Sage will look to be the first intuitional investor in a new batch of environmental solutions, manufacturing, and specialty service-focused businesses in Texas, the Southwest and the Midwest using the new funding acquired through its recently announced Blue Sage Capital IV fund.
Blue Sage Capital Outside Legal Counsel: Kirkland & Ellis advised Blue Sage Capital in the deal with a team of investment funds lawyers, Laura Stake (Austin), Reed Schuster (Austin/Chicago), and Rachel Chung (Austin), as well as tax lawyers Stephen Butler (Austin/Houston) and Grant Michael Newman (Houston).
Viper Energy acquires $325M in assets from Morita Ranches Minerals
Deal Description: In conjunction with the deal listed above, Viper Energy, a subsidiary of Midland’s Diamondback Energy Inc., also announced on Jan. 30 that it had acquired additional mineral and royalty interests from EnCap Investments-backed and Midland-based mineral, oil, gas and hydrocarbons-focused firm, Morita Ranches Minerals, for $211 million and 2.4 million OpCo shares. Viper plans to fund the transaction through cash and borrowings from its credit facility.
Diamondback Energy In-House Counsel: Matt Zmigrosky (Midland)
Viper Energy Outside Legal Counsel: Akin Gump Strauss Hauer & Feld
Morita Ranches Minerals Outside Legal Counsel: Vinson & Elkins advised Morita Ranches Minerals on the deal with a team that included partner Bryan Loocke (Houston), partner Michael Marek (Houston), senior associate Theodore Belden (Dallas) and associate Rivers Stephens (Houston). Additionally, partner Megan James (Dallas), associate Sarah Coe (Houston), partner Jackson O’Maley (Houston) and associate Walt Baker (Houston) contributed to the deal.
Engine No. 1, Chevron and GE Vernova Announce Partnership to Power Data Centers
Deal Description: Infrastructure investors Engine No. 1 and Chevron Corp. announced Jan. 28 a joint venture aimed at fast-tracking the development of a series of micro-grid power centers for co-location with data centers in the nation’s Southeast, Midwest and West. Working with Massachusetts-based GE Vernova under a slot reservation agreement, the newly formed company is securing seven 7HA natural gas turbines for the projects on an accelerated timeline, which would allow initial service for the first data center project to begin in 2027. The turbines are, according to GE Vernova, designed to operate on a broad range of gaseous or liquid fuels — whether shale gas, high ethane, hydrogen, #2 diesel or crude oils — with some featuring ramp-up rates as short as 30 minutes, a vital attribute for the uninterrupted power needs for data storage and AI development.
Chevron In-House Legal Counsel: R. Hewitt Pate (Houston)
Engine No. 1 Outside Legal Counsel: Kirkland & Ellis advised Engine No. 1 on the deal with a team that included Kyle Watson (Houston), Patrick Corrigan (Houston), Gabrielle Sumich (Houston), Alexa Grealis (Dallas) and tax lawyer Mark Dundon (Houston).
Pine Run Gathering acquires Superior Midstream Appalachian for $120M
Deal Description: Pine Run Gathering, a JV owned by Stonehenge Energy Resources and UGI Energy Services, announced on Jan. 27 that it acquired Superior Midstream Appalachian, an owner and operator of three natural gas gathering systems in Pennsylvania, for $120 million. The transaction was financed through a $163 million senior secured term loan and other commitments obtained through the JV. Following the close of the transaction, Stonehenge will own 51% of the systems, and UGI will own 49%. The JV’s newly acquired assets include the Pittsburgh Mills, Snow Shoe and Brookfield gathering systems. Pittsburgh Mills systems are connected to UGI’s current Big Pine gathering system and the tree systems feature an aggregate daily flow of 190 Mcf.
Pine Run Gathering Outside Legal Counsel: Baker Botts with a team that included corporate lawyers Bryan Henderson (Dallas), Michael Donnellan (Houston), Elizabeth Kirkland (Dallas), and tax and employee benefits lawyers Stephen Marcus (Dallas), Jason Ayer Graham (Dallas) and Jason Loden (Dallas). Additionally, real estate-focused lawyers Daniel Kruger (Washington, D.C.), Taylor Gamboa (Dallas) and environmental-focused lawyer Elizabeth Singleton (Houston) contributed to the deal. Additionally,
Pine Run Financing Outside Legal Counsel: Vinson & Elkins with a team that included partner Michael Bielby, Jr. (Dallas), associate Natalie Harrison (Dallas), associate Meghan Dobbins (New York), associate Syed Rizvi (Houston), partner Wendy Trahan Salinas (Dallas), associate Patrick Darby (Dallas), and partner John Decker (Washington, D.C.).
Administrative Agent of the Transaction: BOK Financial
Joint Lead Arrangers of the Transaction: Cadence Bank and Citizens Bank
Riverstone Credit Sells Harland & Wolff’s UK-based Shipyard Assets to Navantia UK for $87.1M
Deal Description: Riverstone Credit, a UK-based energy-focused credit investor, announced on Jan. 28 that it has sold Harland & Wolff, a Belfast-based shipbuilding, ship repair and offshore construction-focused firm, and its assets to Navantia UK for £69.9 million ($87.1 million). The deal also includes the waiving of the firm’s debt worth £20 million ($24.9 million). Furthermore, the deal will see Navantia, a UK-based shipbuilder and offshore wind energy-focused firm, acquire four of Harland & Wolf’s shipyards located in England, Scotland and Northern Ireland. In addition, through the agreement, the trio of companies helped to secure over 1,000 jobs for the communities involved in the acquisition.
Riverstone Credit Outside Legal Counsel: Bracewell and Stephenson Harwood represented Riverstone in the deal with a Bracewell team that included partners Kate Day (Houston), Jason Fox (London), and François Feuillat (London) and associates Alan Stewart (Houston), Jessica Hastings (London), Sameer Ahuja (London) and Rebecca Williamson(London).
The Stephenson Harwood team included partner Ian Benjamin (London) and associate Fiona Siddall (London).
Riverstone Credit Advisors: Teneo and Rothschild & Co
Smart Wires Announces $65M Raise Led by Dallas’ BP Energy Partners
Deal Description: Smart Wires, a Durham-based grid-enhancing technology developer and provider, announced on Jan. 29 that it obtained $65 million in growth capital to further expand its commercial operations in 2025 to meet the rising energy needs fueled by AI and data centers. The new investment came primarily from BP Energy Partners, a Dallas-based PE firm formed with support from T. Boone Pickens. The firm invests in companies focused on energy transition. Fort Worth’s Keystone Group was also involved in the investment. Smart Wires is an energy consulting firm that utilizes software to identify and reroute energy transmissions for greater efficiency.
BP Energy Partners In-House Legal Counsel: Warren Garden (Dallas)
Smart Wires Outside Legal Counsel: Morgan Lewis with a team led by partners Janice Davis (Dallas) and Patricia Brennan (New York) and associate Christopher Ronne (Seattle).
Ancala-backed Phoenix Rail to acquire Lehigh Valley Rail Management
Deal Description: Ancala, a London-headquartered infrastructure manager and investor, announced Jan. 28 its purchase of Lehigh Valley Rail Management, which operates 61 miles of short-line freight rail operations in Johnstown and Bethlehem, Pennsylvania. The acquisition was made by Phoenix Rail, a railroad investment platform based in Denver recently created by Ancala in association with Arkadia Rail Partners (formerly Brookhaven Infrastructure). The Lehigh Valley acquisition is its first. LVRM and its intermodal terminals connect a broad number of industries with Class 1 lines that service Philadelphia, New York and other major cities. Terms of the transaction were undisclosed.
Financial Advisor: Northborne Partners
Ancala Outside Legal Counsel: Sidley Austin represented Ancala in the deal with a team that included partners Brien Wassner (New York) and Samantha Seley (Houston). The team also included Dallas associate Chase Roland.
Note: The recent acquisition is Ancala’s second investment in North America. The firm invested in a Canadian-based decarbonized heating and cooling solutions provider, Noventa Energy, in 2023.
Thoma Bravo Makes Majority Investment Into Opexus and Casepoint in Conjunction With Recent Merger
Deal Description: Thoma Bravo announced Jan. 27 its acquisition of of OPEXUS+Casepoint, a newly merged combination of Casepoint, a legal data provider, and OPEXUS, a data processing provider for government agencies. Although controlled by Thoma Bravo, the new entity includes minority interests retained by Gemspring Capital, the primary investor in OPEXUS and surviving shareholders of Casepoint. Based in Virginia, Casepoint is a provider of data and discovery technology for litigation, investigations and compliance. OPEXUS is headquartered in Washington, D.C. Thoma Bravo said it intends to integrate the platforms of the two companies to provide fully functional process management and discovery data services. OPEXUS+Casepoint will be headquartered in Washington and led by OPEXUS CEO Howard Langsa.
Thoma Bravo Outside Legal Counsel: Kirkland & Ellis
On the OPEXUX transaction: A team led by corporate lawyers John Kaercher (Austin), Brett Nelson(Chicago), Corey Fox (Chicago), Zoe Quick (Chicago), Dominic Adduci (Chicago), Lucy Li (Austin), debt finance lawyers Fred Lim (San Francisco), Alexander Straka (Chicago), Emily Barber (San Francisco), Chris Glenn (San Francisco), tax lawyers Adam Kool (New York) and Steven Cantor (Washington, D.C.) and technology and IP transactions lawyer Aaron Lorber (Chicago).
On the Casepoint segment: George Boden (Chicago), Zackary Theo (Chicago), Amanda Van Auken (Chicago) and Charlie Hu (Chicago). Kaercher, Fox, Lim, Glenn, Kool, Cantor, Lorber, Straka and Barber also contributed to this side of the deal.
Casepoint Outside Legal Counsel: Cooley
OPEXUS Outside Legal Counsel: McDermott Will & Emery
Casepoint Financial Advisor: Baird
Debt Financer: Comvest Credit Partners and HarbourVest Partners
Atlas Energy Solutions acquires Hilltop’s Moser Energy Systems for $220M
Deal Description: Atlas Energy Solutions, a fracking services company based in Austin, announced Jan. 27 that it is buying Moser Energy Systems, a Wyoming provider of natural gas-powered portable oilfield generators and a portfolio company of Hilltop Opportunity Partners. The $220 million deal includes $180 million in cash and $40 million in the form of 1.7 million shares of Atlas common stock. Atlas has the option to determine at closing whether it wants to pay Dallas-based Hilltop the entire $220 million in cash, depending on the market for its common stock. The company says the combination adds Moser’s distributed power platform to its proppant and fracking logistics services, as well as a new cache of potential clients both within and outside of their Permian Basin base.
Atlas Energy Solutions In-House Counsel: Dathan Voelter (Austin)
Atlas Energy Solutions Outside Legal Counsel: Vinson & Elkins represented Atlas in the deal with a team that included Matthew Falcone (Houston), senior associate Charles Fitzpatrick (Houston), with assistance from associates Jacob Lubenow (Houston), Chris Chiavaroli (Houston), Ronnie Braxton (Houston) and Jake Whelen (Houston). In addition, partner Thomas Zentner III (Austin/Houston), senior associate Layton Suchma (Houston), partner Sarah Mitchell (Dallas), counsel Alexander Baker (Dallas), partner David D’Alessandro (Houston/Dallas) and counsel Melissa Jester Spohn (Houston/Dallas) contributed to the deal. Furthermore, partner Kara Kuritz (Washington, D.C.), counsel Ryan Will(Washington, D.C.), partner Matthew Dobbins (Houston), counsel Rajesh Patel (Houston), senior associate Alexa Chally (Austin), counsel Kenneth Adler (Dallas), partner David Peck (Dallas) and counsel Allyson Seger (Austin) contributed to the deal. In addition, partner Ephraim Fry Wernick (Washington, D.C./Dallas), counsel Brian L. Howard II (Washington, D.C.), partner Jamie Tabb (Washington, D.C.), counsel Tyler Robinson (Washington, D.C.), partner Mark Holmes (Houston), senior associate Jennifer Bassett (New York), partner Randall Johnston (Washington, D.C.), partner Sean Becker (Houston) and partner John Decker (Washington, D.C.) also worked on the deal.
Moser Energy Systems Outside Legal Counsel: Katten Muchin Rosenman represented Moser in the deal with a team that included corporate partners Mark Solomon (Dallas), Peter Bogdanow (Dallas), Ethan Post (Dallas), capital markets partner Mark Wood (Chicago) and transactional tax planning partner Todd Hatcher (New York). In addition, the deal also included corporate partner Michelle Gyves (New York), associates Kelsey McKeag (Dallas), Yaesul Park (Chicago), Miriam Wang (Dallas), employee benefits and executive compensation partner Andrew Skowronski (New York), associate Neal Patel (New York), intellectual property partner Sean Wooden (Washington, DC), litigation partner Jonathan Rotenberg (New York) and transactional tax planning associate Jeffrey Ng (New York).
Atlas Energy Solutions Financial Advisor: Piper Sandler & Co.
Moser Energy Systems Financial Advisor: TPH&Co.
Captona acquires three Texas battery storage systems
Deal Description: esVolta, a Newport Beach, California, developer of Battery Energy Storage Systems, announced Jan. 27 a preferred equity transaction with Captona, an investor in alternative energy projects. The investment, which involves three Texas BESS projects currently under construction, was valued by esVolta, after ITC transfers, at $243 million. The newly acquired systems — ANOLE in Seagoville, Desert William in Midlothian and Burksol in Afton (Dickson County) — are expected to be completed early this year. Based in New York, Captona claims $3 billion in 34 different energy transition projects across North America. Captona says it structures its investments and acquisitions through preferred equity transactions in order to capitalize ongoing target projects nearing completion. The arrangement gives developers the capital they need to complete promising projects and monetize associated tax incentives without having to create elaborate tax equity partnerships.
Captona Outside Legal Counsel: Kirkland & Ellis advised Captona on the deal with a team that included corporate lawyers Allan Kirk (Houston) and Marrisa Kinsey (Houston), tax lawyer Sam Kamyans (Washington, D.C.) and debt finance lawyer Robert Eberhardt (New York).
esVolta Outside Legal Counsel: Morgan Lewis & Bockius
Capital Markets/Credit
Viper Energy Announces $1.1B Underwritten Public Offering
Deal Description: Viper Energy, a subsidiary of Midland’s Diamondback Energy Inc., announced on Jan. 30 that it is offering an upsized underwritten public offering of 24,640,000 shares of its Class A common stock for $44.50 per share, worth a total of $1.1 billion. In addition, it has given the underwriters a 30-day option to purchase an additional 3,696,000 shares, which would move the total proceeds from the offering up to $1.2 billion. Viper will use the proceeds from the offering to aid in paying the cash consideration element for its Jan. 30 announced acquisition of mineral and royalty interests from its Midland-based parent company. However, if the deal does not close, the firm will use the proceeds for other general corporate purposes.
Underwriters Outside Legal Counsel: Latham & Watkins represented the underwriters in the offering with a team that included partner Michael Chambers (Houston/Austin), partner David Miller (Austin/Houston), partner Monica White(Houston), and associates Caitlyn Fiebrich (Houston) and Caroline (Carol) Bale (Austin). In addition, partner Timothy Fenn (Houston), associate Dominick Constantino (Houston), partner Joshua Marnitz (Houston/Los Angeles) and associate Nolan Fargo (San Diego) contributed to the deal.
Joint Book-Running Managers of the Offering: JP Morgan, Citigroup, Mizuho and Morgan Stanley
Select Water Solutions Announces New $550M Senior Secured Credit Facility
Deal Description: Select Water Solutions, a Gainesville-based sustainable water and technology solutions provider primarily serving the energy industry, announced on Jan. 28 that it has closed on a new five-year senior secured credit facility worth $550 million. The $550 million will comprise $300 million in revolving credit commitments and $250 million in term loan commitments. In addition, the new credit facility will be able to expand over four successive years by adding $200 million from either new or existing lenders, which will include $150 million for revolver commitments and $50 million worth of term loan commitments. The newly announced credit facility will also have a pair of sustainability-linked targets, and the facility can reward the firm with reduced borrowing costs for achieving them. However, it can also penalize the firm for not reaching them as well. The firm’s targets include reaching a specific undisclosed amount of produced water recycling volumes and maintaining safety standards. Furthermore, now that it has obtained this new credit facility, it has repaid and terminated its Mar. 2022 credit facility. The firm plans to use the facility to develop its water infrastructure business further, aid in paying off previous debts and enhance its financial strength to fund future projects.
Select Water Solutions In-House Counsel: Christina Ibrahim (Houston)
Select Water Solutions Outside Legal Counsel: Vinson & Elkins represented Select Water Solutions in the deal with a team that included partner Caitlin Turner (New York), counsel Maya Bobbitt (Austin/New York), senior associate David Albano (Houston) and associates James Caleb Payne II (Houston), Sydni Daniels (Houston) and Poonam Agrawal(Houston).
Bank of America and lender group’s Outside Legal Counsel: Winston & Strawn
Lead Arranger and Agent: Bank of America
Joint Lead Arrangers and Joint Bookrunners: JP Morgan Chase Bank, Bank OZK and MUFG Bank
Joint Sustainability Structuring Agents: BofA and JP Morgan Securities
Additional Lender: Cadence Bank
Vermilion Energy Announces New Offering of $400M Senior Unsecured Notes
Deal Description: Vermilion Energy, a Calgary-based global oil and natural gas developer and producer, announced on Jan. 28 its intentions to issue a private offering of new senior unsecured notes worth $400 million at 7.250 percent due in Feb. 2033. The new notes will be offered to a group of what the firm referred to in a recent release as “qualified institutional buyers.” The Calgary-based company plans to use the proceeds from the offering to pay off the outstanding amount on its existing senior notes, which are due in 2025 at 5.625 percent. The firm will also use the proceeds to aid in paying for the purchase price of its Dec. 2024 acquisition of Westbrick Energy for $1.075 billion. Furthermore, the firm will also use it to pay off any other costs associated with its existing notes and the Westbrick acquisition and repay borrowings under its current credit facilities.
Initial Purchasers Outside Legal Counsel: Latham & Watkins represented the initial purchasers in the offering, with a team that included partners David Miller (Austin/Houston), Mollie Duckworth (Austin), and Michael Chambers (Austin/Houston), and associates Sarah Rodrigue (Houston), Tristan Schmoor (Century City), Caroline (Carol) Bale (Austin) and Samantha Cioppa (Austin). Tax-focused partner Jim Cole (Houston), associate Dylan White (Houston), environmental-focused partner Joshua Marnitz (Los Angeles/Houston) and associate Nolan Fargo (San Diego) also contributed to the deal.
Atlas Energy Solutions Announces $264.5M Underwritten Public Offering
Deal Description: Atlas Energy Solutions, an Austin-based proppant producer and logistics services provider within the oil and gas industry, announced on Jan. 30 that it is offering an upsized underwritten public offering of 11,500,000 shares of its common stock for $23.00 per share for a total of $264.5 million. In addition, it has given the underwriters a 30-day option to purchase an additional 1,725,000 shares of its common stock. The Austin-based firm will use the proceeds from the offering to pay off its debt, including its secured PIK toggle seller note and other outstanding debt from its credit facility and term loan credit facility. In addition, it will use the proceeds to aid in paying off its Jan. 27 announced acquisition of Moser Energy Systems, a Wyoming-based distributed power solutions provider. Following its use of the proceeds to pay off its debt and recent acquisition, the firm will use the remaining proceeds for general corporate purposes, including expanding its power-related resources after officially closing its acquisition of Moser.
Atlas Energy Solutions In-House Counsel: Dathan Voelter (Austin)
Underwriters Outside Legal Counsel: Latham & Watkins represented the underwriters in the offering with a team that included David Miller (Austin/Houston), partner Monica White (Houston), and associates Caitlyn Fiebrich (Houston), Caroline (Carol) Bale (Austin) and Lewis Pablo Ntolla (Houston). In addition, partner Bryant Lee (Houston), associate Dylan White (Houston), partner Joshua Marnitz (Houston/Los Angeles) and associate Jacqueline Zhang (Washington, D.C.) also contributed to the deal.
Lead Book-Running Managers of the Offering: Goldman Sachs and Piper Sandler
Book-Running Managers of the Offering: Barclays Capital, BofA Securities, and Johnson Rice & Company
Co-Managers of the Offering: Capital One Securities, Drexel Hamilton, PEP Advisory, Perella Weinberg Partners, Raymond James & Associates, Stephens and The Benchmark Company
Infinity Natural Resources Announces $238.6M Initial Public Offering
Deal Description: Infinity Natural Resources, a West Virginia-based energy-focused company that acquires and develops hydrocarbons in the Appalachian Basin, announced on Jan. 30 that it will price its initial public offering of 13,250,000 shares of its Class A common stock at $20.00 per share. The shares will be listed on the NYSE and traded under the ticker symbol “INR.” In addition, Infinity has given the underwriters a 30-day option to purchase up an additional 1,987,500 shares of its common stock. The West Virginia-based firm expects the total proceeds from the offering to be $238.6 million after expenses. It will use the net proceeds from the offering to pay off outstanding debt and other general corporate purposes.
Infinity Natural Resources In-House Legal Counsel: Raleigh Wolfe (Houston)
Infinity Natural Resources Outside Legal Counsel: Kirkland & Ellis advised Infinity Natural Resources in the deal with a team that included Matthew Pacey (Houston), Michael Rigdon (Houston), Sara Lampert (Houston), Robbie Dillard (Houston), Analynn Gabler (Dallas), Vannevar Taylor (Houston), William Eiland (Dallas), Thomas Laughlin(Dallas), Kjarom Pedersen (Dallas) and Aburiyeba Ibiye Amaso (Houston). In addition, David Wheat (Dallas/Houston), Joe Tobias (Dallas), Nicole Dressler Martin (Houston), Stephen Jacobson (Houston/New York), Stephanie Jeane(Houston) and Monica Merino (Austin) contributed to the deal.
Underwriters Outside Legal Counsel: Latham & Watkins represented the underwriters in the offering with a team that included David Miller (Austin/Houston), partner Monica White (Houston), associates Connor Adams (New York), Caroline (Carol) Bale (Austin) and Mary Kline (Austin). In addition, partner Bryant Lee (Houston), associate Andrea Herman (Austin), partner Adam Kestenbaum (Washington, D.C.), associate Mary Daniel Morgan(Houston), partner Joshua Marnitz (Houston/Los Angeles) and associate Phil Goldberg (Century City) contributed to thedeal.
Joint Book-running Managers of the Offering: Citigroup, Raymond James, RBC Capital Markets, BofA Securities, Capital One Securities and Truist Securities
Senior Co-Managers of the Offering: KeyBanc Capital Markets and Stephens Inc.
Co-Managers of the Offering: Comerica Securities, Fifth Third Securities, First Citizens Capital Securities and BTIG
Junior Co-Managers of the Offering: BOK Financial Securities, Inc. and Zions Capital Markets
Drugs Made In America Acquisition Corp announces $200M IPO
Deal Description: Drugs Made In America Acquisition Corporation, a Fort Lauderdale-based pharmaceutical-focused SPAC, announced on Jan. 29 that it will price its initial public offering of 20,000,000 units at $10 per unit for a total gross proceed of $200 million. According to its SEC filing, the SPAC sponsor, Drugs Made In America Acquisition, already owns 22,361,111 shares purchased for $35,000. Chair of the company is Lynn Stockwell, listed as founder of Bright Green Corporation, the first plant-touching marijuana cultivator to be publicly listed on an American stock exchange. On Jan. 21, that company announced its entry into an Restructuring Support Agreement in anticipation of a bankruptcy filing.
DMAAC Outside Legal Counsel: Loeb & Loeb
Book-Running Manager Outside Legal Counsel: Winston & Strawn represented Clear Street in the offering with a team that included lead partner Michael Blankenship (Houston), partner David Sakowitz (New York/London), partner Ben Smolij (Houston) and associates Robert Allan Oakes (Houston) and Pete Staviski (Houston).
Book-Running Manager: Clear Street
Other Matters…
Container Store Re-Emerges Following Chapter 11 Bankruptcy
The Container Store, a Coppell-based seller of storage and organization-styled products, announced on Jan. 28 that it has re-emerged following its Dec. 2024 Chapter 11 bankruptcy. Through this process, the company eliminated $88 million in debt and obtained an additional $40 million in new financing. The firm also modified its asset-backed lending facility to add the $40 million in an upsized capacity. Additionally, as a part of this reemergence, the company will become a private company through a debt-for-equity swap with its prepetition term loan lenders. Container Store Chief Legal Officer Tasha Grinnell chose Latham & Watkins and Hunton Andrews Kurth to serve as the firm’s legal counsel on the reorganization with a Hunton team that included Timothy A. (Tad) Davidson II (Houston), Ashley Harper (Houston), Brian Clarke (New York) and Joseph Rovira (Houston), with associates Philip Guffy (Houston), Kaleb Bailey (Houston), Brandon Bell (Houston), Ross Rubin (New York) and Catherine Rankin (Houston). Furthermore, Houlihan Lokey served as its investment banker, FTI Consulting as its financial and communications advisor and A&G Realty as its real estate advisor during the reorganization. In addition, the ad hoc group of its term loan lenders received legal advice from Paul Hastings, who used Greenhill & Co. as an investment banker and AlixPartners as financial advisors.