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The Texas Lawbook

Free Speech, Due Process and Trial by Jury

  • Appellate
  • Bankruptcy
  • Commercial Litigation
  • Corp. Deal Tracker/M&A
  • GCs/Corp. Legal Depts.
  • Firm Management
  • White-Collar/Regulatory
  • Pro Bono/Public Service/D&I

CDT Roundup: 21 Deals, 17 Firms, 165 Lawyers, $11.6B

March 14, 2023 Claire Poole

The biggest, most prestigious energy conference on the planet, CERAWeek, just wrapped up in Houston last week featuring the rock stars of the oil, natural gas, power and renewables world, including oil ministers, CEOs and the like.

What were some of the takeways? Arjun Murti, a former research analyst at Goldman Sachs who recently came out of retirement to join Houston-based energy-focused intelligence provider Veritan as a partner, shared some observations as part of his “Super-Spiked” newsletter.

Among them: “Energy transition” is a way overused, misunderstood, “Rorschach Test” phrase. “Energy transition as a concept is itself in need of transition,” he said.

Murti also noted there were pains to inject pragmatism, the notion of the “energy trilema” (affordability and security along with low carbon) as well as talk of multiple transitions going on currently (differences in approach for developing versus developed world).

The former analyst had questions coming out of the confab. Among them: When will traditional energy companies recognize the need to free themselves from dependence on European capital and insurance providers?

Murti thinks perhaps not in the next year or two, but over the long run. 

“There is plenty of time to diversify capital markets sources toward [the] ‘rest of world’ and away from Europe for sure and potentially U.S. institutions,” he said. “But planning needs to start now when positioning is still relatively strong. This is like a slow-drip leak, a minor inconvenience until barriers are breached and a flood ensues.”

Finally, circling back to his first argument, will the concept of “energy transition” eventually move to one that doesn’t drive a macro backdrop of price spikes followed by price busts, economic damage and no real change in the world’s green-house gas trajectory? In a word, yes.

“The ‘energy transition’ needs to transition in its objectives and policy prescriptions,” he contends.

There were 21 Texas-related deals valued at $11.6 billion reported for the week ending March 11, including 16 M&A transactions worth a reported $8.1 billion and five CapM deals valued at $3.44 billion. That’s holding steady from last week’s 20 deals for $9.6 billion, but down from the 18 deals for $12 billion during the same week last year.

Editor’s note: The headline on this article has been revised to include the full value of the Vistra acquisition of Energy Harbor assets reported below. The correct value of that transaction was $6.76 billion, not $3.46. All tables and evaluations affected have been adjusted accordingly.

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 CountAmountFirmsLawyersM&A CountM&A Value $MCapM Count
CapM Value $M
31-May-202519$23,3811116612$18,6657$4,717
24-May-202515$24,0331112113$23,6242$409
17-May-202516$21,7601214511$18,6155$3,145
10-May-202524$33,1751620619$30,7655$2,410
03-May-202511$4,249139011$2,226.52$2,022.5
26-Apr-202512$8,78791689$6,0113$2,776
19-Apr-202511$8,09771389$7,9852$112
12-Apr-202513$2,392815210$2,0653$327
05-Apr-202519$27,7621518816$25,4733$2,289
29-Mar-202521$8,1881025816$4,1255$4,064
22-Mar-202519$6,4851423115$4,1284$2,857
15-Mar-202513$13,7371315110$9,9324$3,805
8-Mar-20257$2,2345665$2242$2,100
1-Mar-202511$3,05087510$2,5501$500
24-Feb-2512$16,39771496$6,6356$9,862
17-Feb-2517$12,1361313410$9,4112$2,725
10-Feb-2514$7,15491799$4,9505$2,204
3-Feb-2516 $10,068720011$7,5535$2,515
25-Jan-2514$10,261101259$2,2075$8,054
18-Jan-2519$7,3821531612$2,3007$5,082
11-Jan-2521$33,5601618716$32,5215$1,039
4-Jan-259$6,8279809$6,82700
21-Dec-2411$2,79811928$2,2293$570
14-Dec-2415$5,3231218612$3,8123$1,511
07-Dec-2416$4,7661023111$2,32152,445
30-Nov-2410$10,29191034$8,2906$2.001
23-Nov-2415$4,5531515311$3,3794$1,174
16-Nov-2417$11,4881124513$10,1864$1,303
09-Nov-2414$2,1101213912$1,4102$700
02-Nov-2412 $52,788 1110711$52,7381$50
26-Oct-248$3,1608657$3,0651$75
19-Oct-2412$5,3041113611$4,5541$750
12-Oct-2417$8,4381215015$8,1162$322
05-Oct-2422$23,1811218915$19,9807$3,201
28-Sep-2411$2,35671447$534$2,303
21-Sep-2412$9,568101695$4,1017$5,467
14-Sep-2424$10,9881223516$7,1758$3,813
7-Sep-2412$20,4201616811$20,3071$112.9
31-Aug-2413$20,631913412$14,7751$5,856
24-Aug-2419$8,4522132516$7,1023$1,350
17-Aug-2425$49,1961630411$39,38614$9,810
10-Aug-2420$12,2641531216$9,7944$2,470
03-Aug-2426$16,4981633418$8,1378$8,361
27-Jul-2419$16,4422127115$13,8384$2,604
20-Jul-2415$16,0161418410$14,2325$1,784
13-Jul-2420$17,220 1426518$7,146 2$10,074
6-Jul-2411$3,941 11958$2,650 3$1,291
29-Jun-2414$6,296 152248$6,296 6$1,927
22-Jun-2412$5,679 81375$210 7$5,469
15-Jun-2413$9,895 1621410$5,280 3$4,615
8-Jun-2419$23,859 1323912$19,436 7$4,423
1-Jun-2412$34,510 111479$26,110 3$8,400
25-May-2413$9,684 1517110$4,434 3$5,250
18-May-2411$5,490 111738$3,129 3$2,361
11-May-2422$14,855 1422716$11,105 6$3,750
4-May-2413$3,139 98710$1,297 3$1,842
27-Apr-2410$6,684 62810$6,684 00
20-Apr-2419$15,989 111479$5,208 10$10,781
13-Apr-2413$8,952 97610$1,652 3$7,300
6-Apr-2423$26,616 1422214$13,501 8$13,116
30-Mar-2412$9,286 81368$4,299 4$4,987
23-Mar-2418$5,451 1726616$4,759 2$692
16-Mar-2421$11,437 1318614$9,316 6$2,070
9-Mar-2423$4,695 2121819$2,723 4$1,972
2-Mar-2420$9,108 1937214$4,558 6$4,550
24-Feb-2419$16,382 1224815$9,507 4$6,875
17-Feb-2416$29,932 1515712$29,216 4$716
10-Feb-2425$10,750 1719619$5,372 6$5,379
3-Feb-2412$8,416 181259$3,416 3$5,000
27-Jan-249$8,165 9878$7,815 1$800
20-Jan-2414$4,084 1210912$3,219 2$865
13-Jan-2417$33,588 1225612$26,765 5$6,823
6-Jan-248$7,915 8846$7,265 2$650
30-Dec-2317$14,599 129915$2,714 2$11,885
23-Dec-2323$4,182 1321916$1,813 7$2,370
16-Dec-2313$16,436 132807$15,150 5$1,286
9-Dec-2326$14,633.90 1724416$8,095 10$6,538.90
2-Dec-2313$6,720 95712$6,630 1$90
25-Nov-239$4,835 91316$1,785 3$3,050
18-Nov-2322$6,568.70 1718414$4,709.20 8$1,859.50
11-Nov-2315$9,825 1317912$6,581 3$3,244
4-Nov-2315$20,582.50 1419312$19,417.50 3$1,165
28-Oct-2318$68,419.10 1815215$66,646 3$1,773.10
21-Oct-2316$6,755.90 1616515$6,755.90 1$3
14-Oct-2314$67,851.20 131259$61,998.50 5$5,852.70
7-Oct-2317$6,595.50 1322816$5,995.50 1$600
30-Sep-2317$1,896.45 1318914$806.45 3$1,090
23-Sep-2323$6,432.70 1723016$1,402.80 7$5,029.90
16-Sep-2325$23,226.70 2335316$17,239 9$5,987.70
9-Sep-2312$6,369 81027$4,311 5$2,058
2-Sep-2314$2,522 69213$1,322 1$1,200
26-Aug-2317$12,160.25 1320215$6,573.25 2$5,587.00
19-Aug-2319$11,505 1321315$11,255 4$250
12-Aug-2319$9,698.80 131847$3,270 12$6,428.80
5-Aug-2313$5,201 1211812$5,051 1$150
29-Jul-2315$21,031.60 1319611$18,292.00 4$2,739.60
22-Jul-2318$3,992 1213013$2,808 5$1,184
15-Jul-2313$8,254.95 138113$8,254.95 00
8-Jul-2316$5,441.45 1217211$2,443 5$2,998.45
1-Jul-2316$6,872 1010512$5,474 4$1,398
24-Jun-2313$10,914 1620110$7,874 3$3,040
17-Jun-2317$5,880.70 1515115$4,705.70 2$1,175
10-Jun-2319$8,516.10 1311116$6,252.40 3$2,263.70
June 3 202312$6,104.42 121388$4,256.92 4$1,847.50
27-May-2317$12,200 106711$6,165 6$6,035
20-May-2311$22,458.10 81034$19,455 7$3,003
13-May-2312$7,034 101018$5,460 4$1,574
6-May-2320$3,297.60 1819617$2,985.60 3$312
29-Apr-2323$3,691.20 1813517$1,969.70 6$1,721.50
22-Apr-2316$5,570 1410414$4,750 2$1,000
15-Apr-2312$23,818.10 95910$21,618.10 2$2,200
8-Apr-2316$7,949 91739$5,472 7$3,477
1-Apr-2321$18,676.70 1217511$10,926.70 10$7,750
25-Mar-2315$8,779.50 101415$2,362 10$6,416.50
18-Mar-237$14,048.80 6695$13,345 2$703.80
11-Mar-2321$11,576 1616516$8,131 5$3,445
4-Mar-2320$9,668 1122816$8,209 4$1,459
25-Feb-2313$5,335 1313012$4,235 1$1,200
18-Feb-2314$5,743.70 131588$898.70 6$4,845
11-Feb-2316$12,088 1213712$9,965 4$2,123
4-Feb-2317$8,066 1514013$5,614 4$2,452
28-Jan-237$2,180 7755$1,692.75 2$488
21-Jan-2317$5,768 1617412$1,918 5$3,850
14-Jan-2311$2, 800101028$421 3$2,400
7-Jan-2318$8,296 1116714$6,461 3$1,835
31-Dec-2214$2,732 119912$2,092 2$640
17-Dec14$7,919 1311512$7,419 1$500
10-Dec-2214$10,093 128811$7,093 3$3,000
3-Dec-2226$12,800.90 1117220$4,141 6$8,659.90
26-Nov-228$2,266.70 853$76 5$2,190.70
19-Nov-2221$2,886 1521219$2,550 2$336
12-Nov-2213$15,093.70 9819$14,200 4$893.70
5-Nov-222519,337.201650922$8,267.20 3$11,070
29-Oct-2215$7,805.30 911614$7,180.30 1$625
22-Oct-2220$8,193.50 1325313$5,442 7$2,751.50
15-Oct-229$3,046.10 91397$2,588.30 2$457.80
8-Oct-2219$2,011.80 1211416$833.80 3$1,178
1-Oct-2223$5,532.90 1615618$4,952.30 5$580.60
24-Sep-2218$5,194 1421615$4,050 3$1,144
17-Sep-2221$8,352.30 1232015$4,759.60 6$3,592.70
10-Sep-2215$19,853.50 1012613$19,403.60 2$450
3-Sep-229$2,312 9629$2,312 00
27-Aug-2216$30,891.70 1013515$30,666.40 1227.7
20-Aug-2212$1,977 815299253$1,052
13-Aug-2218$8,004.70 1124211$2,844.70 7$5,160
6-Aug-2224$7,948.90 1224017$3,577 7$4,371.90
30-Jul-228$6,941 9787$6,839 1$102
23-Jul-2211$801 119210$801 10
16-Jul-2214$3,650 1012214$3,650 00
9-Jul-2210$3,557.70 7689$3,557.70 10
2-Jul-2218$8,609.40 1315215$2,754.40 3$5,855
25-Jun-2215$6,142 131469$2,017 6$4,125
18-Jun-2217$11,890.10 1422815$11,410 2479.7
11-Jun-2217$7,600 1212310$2,300 7$5,300
4-Jun-2212$2,937 101279$692 3$2,245
28-May-229$3,197.60 11869$3,197.60 00
21-May-2214$7,284.50 1218511$6,609 3$675.50
14-May-2211$306.60 98010$306.60 1$225
7-May-2216$10,451.75 1210812$1,827 4$8,624.75
30-Apr-2216$2,296.50 1615712$895.50 4$1,401
23-Apr-2210$2,241 11588$1,641 2$600
16-Apr-2211$6,643 71568$2,359 3$4,284
9-Apr-2217$4,429 1418411$1,690 6$2,739
2-Apr-2213$1,755 88410$1,145 3$610
26-Mar-2211$3,205 8656$200 5$3,005
19-Mar-2213$2,239.17 910613$2,239.17 00
12-Mar-2218$12,016 1123915$11,965 2$51.35
5-Mar-2217$6,786 1313713$5,161 4$1,625
26-Feb-2212$5,095 81499$4,437.50 3$658
19-Feb-2217$22,229 1717414$21,354 3$875
12-Feb-2212$2,344.70 10738$641.70 4$1,703
5-Feb-2211$2,503 89911$2,503 00
29-Jan-2211$3,872 1210112$3,872 00
22-Jan-2213$5,143.50 109912$4,842.50 1$301
15-Jan-2212$7,605 91559$6,480 3$1,025
8-Jan-2213$8,256.20 1110213$8,256.20 00
1-Jan-229$1,273.80 6509$1,273.80 00
25-Dec-2121$4,734.75 1117616$3,410 5$1,324.75
18-Dec-2126$7,325.20 1519318$3,640.20 8$3,685.20
11-Dec-2116$5,017 1010913$1,417 3$3,600
4-Dec-2114$2,310 8868$2,310 6$1,882.05
27-Nov-219$3.460.1101016$1,758 3$1,702.60
20-Nov-2120$22,792 1515712$18,864.50 8$3,928
13-Nov-2121$26,729 1217813$11,822 8$14,907
6-Nov-2112$8,303 1315710$6,682 3$1,621
30-Oct-2121$10,368 1521815$9,24.46$1,103.00
23-Oct-2121$18.783.11522211$12,314 10$6,468.60
16-Oct-2115$3,868 1111815$2,293 2$1,575
9-Oct-2120$8,610 1617516$7,795 4$815
2-Oct-2114$6,250 1113710$5,200 4$1,050
25-Sep-2111$11,460 9937$10,200 4$1,250
18-Sep-2111$16,603 8998$15,084 3$1,519
11-Sep-2117$10,653 1110313$8,503 4$2,150
4-Sep-2113$7,222 108911$6,715 2$507
28-Aug-2112$763 96311$663 1$100
21-Aug-2112$29,659 77911$29,579 1$80
14-Aug-2122$17,845 1119912$12,805 10$5,04
7-Aug-2117$13,670 1213915$11,766 2$1,904
31-Jul-2121$8,160 1113410$3,574 10$4,586
July 24,202121$6,367 1113915$3,712 6$2,655
17-Jul-2114$4,009 1112412$2,015 2$1,994
10-Jul-2116$3,997 1314311$1,597 4$2,4
3-Jul-2124$7,492 139416$3,769 8$3,722
26-Jun-2110$4,995 7858$3,847 2$1,148
19-Jun-2128$16,830 82289$1,861 19$14,968
12-Jun-2126$27,238 1520919$25,602 7$1,636
5-Jun-2115$15,539 1310013$14,709 2$600
29-May-2135$20,279 1114528$18,647$1,639
22-May-2124$53,208 1417417$51,047 7$2,161
15-May-2118$10,620 1322011$5,870 7$4,809
8-May-2117$10,400 1115615$8,386 2$2,500
1-May-2121$7,200 1611512$3,808 9$3,392
24-Apr-218$20,200 9318$20,200 00
17-Apr-2114$6,270 810211$40,180 3$2,260
10-Apr-2115$8,940 1312914$7,990 1$950
3-Apr-2118$19,513 1015112$16,923 6$2,590
27-Mar-2127$13,942 1524414$4,300 13$9,633.50
20-Mar-2111$2,046 41023$270 8$1,776
13-Mar-2115$3,270 91096$538 9$2,732
6-Mar-2124$13,617 1019613$10,395 11$3,222
27-Feb-2119$8,105 1213915$4,970 4$3,135
20-Feb-219$8,820 91538$8,520 1$300
13-Feb-2112$4,852.60 78172,7665$2,086.60
6-Feb-2118$9,752 1315314$5,222 4$4,530
30-Jan-2118$9,449 918215$8,753.80 3$695.30
23-Jan-2114$8,150 81186$4,000 8$4,150
16-Jan-2117$6,783 1313811$2,400 6$4,382.90
9-Jan-2122$6,829 1413518$3,139.30 4$3,690
2-Jan-217$1,466 7607$1,466 00
26-Dec-2018$15,900 1216316$5,300 1$600
19-Dec-2018$9,769 1411014$8,426 4$1,343
12-Dec-2010$7,200 91009$3,325 1$3,830
5-Dec-2015$4,261 91229$2,780 6$1,481
28-Nov-2019$7,758 1011013$4,003 6$3,755
14-Nov-2014$864.10 1415712$289.10 2$575
7-Nov-2013$6,332 91299$2,483.50 4$3,849
31-Oct-2010$3,995.80 81036$3,231.10 4$754.70
24-Oct-206$18,100 6585$17,709 1$350
17-Oct-208$351.90 5558$351.90 00
10-Oct-207$5,229 3504$735 3$4,494
3-Oct-2014$21,428 91739$17,535 5$3,893
26-Sep-2010$12,770 8935$10,300 5$2,470
19-Sep-2014$8,365 91016$1,020 8$7,345
12-Sep-206$4,406 8593$1,270 3$3,136
5-Sep-2011$5,191 81179$4,061 2$1,130
29-Aug-2011$2,531 9945$1,130 6$1,401
22-Aug-2018$6,574 121407$1,930 11$4,644
15-Aug-2013$4,991 10977$1,216 6$3,775
8-Aug-2012$32,092 111129$30,457 3$1,635
1-Aug-207$5,287 8765$3,687 2$1,600
25-Jul-209$18,751 6677$18,403 2$348
18-Jul-206$1,982.50 5504$1,407.50 2$575
11-Jul-2011$565.10 127510$65.10 1$500
4-Jul-2010$8,889 8989$8,788 1$100.30
27-Jun-208$6,874 10505$4,972.50 3$2,081.50
20-Jun-2012$4,444 91157$2,829 5$1,615
13-Jun-206$3,582 4372$350 4$3,232
6-Jun-2011$3,213.70 8657$470 4$2,743.70
30-May-208$7,335 7486$4,639 2$2,697
23-May-204$432.40 4343$432.40 10
16-May-206$310 6345$310 10
9-May-2018$5,630 1612414$3,180 4$2,450
2-May-201510,40010908$1,900 7$,8,500
25-Apr-208$3,400 9365$1,000 3$2,450
18-Apr-2019$9,500 14928$185.70 11$9,360
11-Apr-2012$6,000 9405$190 7$5,800
4-Apr-2014$8,200 116810$2,200 4$6,000
28-Mar-2016$6,500 139610$3,700 6$2,800
21-Mar-2011$11,910 7337$2,250 4$9,960
14-Mar-207809.86346684.81125
7-Mar-2016$2,500 157013$669 3$1,400
29-Feb-2013$15,260 1312811$11,760 2$3,500
22-Feb-2012$3,700 109210$2,560 2$1,130
15-Feb-2016$1,250 108412$35 4$1,222
8-Feb-2018$6,080 1412314$2,595 4$3,485
1-Feb-2021$20,900 1210114$17,860 7$3,060
25-Jan-2013$7,430 136212$6,430 1$1,000
18-Jan-2023$9,580 1512019$6,580 4$3,000
11-Jan-2021$14,200 1819916$1,020 5$13,200
4-Jan-2022$6,400 1111916$3,204 6$3,245
28-Dec-1922$7,150 1917518$6,800 4$327.40
14-Dec-1924$36,300 2316719$9,500 5$26,800
7-Dec-1911$10,400 11557$1,082 4$9,370
November 30. 201914$2,450 1212612$1,760 2$692.50
23-Nov-1916$1,995 104111$615 5$1,380
16-Nov-1915$3,820 1313511$2,500 4$1,271
9-Nov-1925$12,900 1718223$12,200 2$575
2-Nov-1910$2,470 126192,4503$22
26-Oct-1912$5,560 147011$3,860 1$1,700
19-Oct-198$6,600 81388$6,600 00
12-Oct-1919$4,300 145516$3,800 3$500
5-Oct-1918$14,500 1916615$11,100 3$3,400
28-Sep-1919$8,100 1813218$7,560 1$550
21-Sep-1914$6,300 166611$2,160 3$4,170
14-Sep-1915$23,800 125611$21,250 4$2,570
7-Sep-1917$3,500 159814$1,900 3$1,600
31-Aug-195$8,700 6505$8,700 00
24-Aug-1916$10,000 148215$4,250 1$5,750
16-Aug-1910$1,680 5527$650 3$950
9-Aug-1917$17,700 156814$3,900 3$13,800
2-Aug-1913$5,760 1210813$5,760 NANA
27-Jul-1911$7,300 13768$6,570 3$730
20-Jul-1913$11,800 1312511$5,300 2$6,500
13-Jul-1910$775 7468$542.50 2$233
6-Jul-197$2,500 9857$2,500 00
29-Jun-1923$8,290 1515417$2,300 6$5,970
22-Jun-1917$10,700 1013914$7,700 3$3,000
15-Jun-1911$13,500 1416011$13,500 NANA
8-Jun-1913$2,870 175511$1,570 2$1,300
1-Jun-1910$4,460 11608$4,140 2$315
25-May-1917$4,360 147914$3,700 3$612
18-May-1922$9,000 1715016$3,400 6$5,600
11-May-1918$19,800 1717715$18,300 3$1,500
4-May-1910$7,075 6328$6,900 2$175
27-Apr-1915$3,200 1411714$3,160 1$40
20-Apr-1913$13,500 10909$12,200 4$1,300
13-Apr-1916$38,900 149114$37,800 2$1,100
6-Apr-1912$6,870 119410$6,730 2$50
30-Mar-1915$6,470 128410$7,91.55$5,677
23-Mar-1918$6,450 149114$5,042 4$1,408
16-Mar-1914$10,180 1211511$8,800 3$1,300
9-Mar-199$1,800 6498$1,300 1$500
2-Mar-1920$3,033 1610714$1,817 6$1,262
23-Feb-1912$2,040 8699$614.60 3$1,430
16-Feb-1916$9,970 187716$9,970 00
9-Feb-1914$6,400 1011014$6,400 00
2-Feb-1918$6,740 159916$5,720 2$950
26-Jan-1913$2,770 116711$918.95 2$1,850
19-Jan-1915$3,819 167612$2,594 3$1,225
12-Jan-1918$7,283 149215$1,683 3$5,600
5-Jan-1910$529 125010$529 00
22-Dec-1817$2,570 138714$941 3$1,629
15-Dec-1810$2,860 8268$264 2$2,600
8-Dec-1815$1,819 166512$552 3$1,267
1-Dec-1812$7,500 10909$1,200 3$6,200
28-Nov-1815$4,500 1110714$4,000 1$500
19-Nov-1818$6,137 139813$2,142 5$3,995
14-Nov-1818$9,200 1315215$8,500 3$694
6-Nov-1816$17,300 1618314$16,361 2$950
29-Oct-1814$14,400 1812717$13,800 1$600
24-Oct-1813$6,140 1312611$5,122 2$1,018
17-Oct-1818$18,390 1512514$12,292 4$6,098
10-Oct-1829$3,149 1810420$1,647 9$819
2-Oct-1818$9,300 116714$7,300 4$2,000
25-Sep-1813$7,000 117510$6,000 3$995
18-Sep-189$3,570 7449$3,570 00
11-Sep-1813$5,900 1013213$5,900 00
7-Sep-1814$5,000 158611$4,000 3$1,000
29-Aug-1815$20,700 147913$4,700 2$16,000
20-Aug-1810$12,400 11538$11,380 3$1,057
14-Aug-1812$19,900 121329$18,889 3$1,011
7-Aug-1816$68,600 1110613$67,259 3$1,340
31-Jul-1815$15,100 159511$13,060 4$2,060
23-Jul-1813$2,130 156010$1,804 3$1,100
17-Jul-1814$5,370 17989$4,310 5$1,100
9-Jul-1816$11,200 157410$11,080 6$862
3-Jul-1813$7,000 78112$6,330 1$750
25-Jun-1815$8,800 13979$4,970 6$3,930
18-Jun-1813$14,200 14807$221 6$14,290
11-Jun-1812$6,300 8968$5,910 4$803
6-Jun-1813$14,500 10888$14,154 5$579
31-May-1811$4,890 10638$3,240 3$1,790
22-May-1815$20,400 11639$19,808 6$885
15-May-1815$4,700 1510610$3,900 5$643
9-May-1811$1,400 13889$1,300 2$560
1-May-188$14,250 7887$13,400 1$450
24-Apr-1812$5,300 66111$4,470 1$800
17-Apr-189$1,800 10447$2,330 2$1,434
11-Apr-1811$2,500 8326$1,690 5$809
3-Apr-1815$13,400 111219$12,020 6$1,090
28-Mar-1810$4,000 10927$3,870 3$215
19-Mar-1817$5,800 135110$590 7$5,165
12-Mar-1815$3,130 114311$2,360 4$788
6-Mar-1819$5,400 1311610$1,530 9$4,860
27-Feb-1820$6,600 136914$5,530 6$1,030
19-Feb-1815$5,500 1411110$3,990 6$1,980
12-Feb-1823$10,900 1715712$7,110 11$3,840
5-Feb-1816$8,600 131007$1,330 9$7,800
30-Jan-1811$12,600 11685$7,300 6$4,982
24-Jan-1819$9,400 151295$2,010 14$7,337
18-Jan-1810$6,280 8492$2,100 8$4,188
9-Jan-1812$16,500 12929$15,890 3$475
3-Jan-1810$2,500 9478$2,350 2$150
27-Dec-1715$9,000 151139$7,568 6$1,784
18-Dec-1715$13,800 161649$13,010 7$1,118
11-Dec-1714$9,700 1012612$2,940 4$8,500
4-Dec-176$1,800 6315$1,510 1$300
28-Nov-177$3,850 8764$3,260 3$285
16-Nov-1710$2,700 10486$1,840 4$856
8-Nov-1715$2,380 179110$1,860 5$516
1-Nov-1712$4,700 17949$3,400 4$1,300
23-Oct-1715$10,500 106710$9,780 4$1,530
18-Oct-176$2,000 373$225 3$1,820
10-Oct-1712$6,570 1009$3,880 3$3,360
2-Oct-178$3,100 11193$1,630 5$1,750
25-Sep-178$4,880 8795$2,660 5$2,070
18-Sep-179$4,770 3$300 6$4,470
12-Sep-1711$4,430 8$2,030 3$2,400
1-Sep-174$1,310 3$317 1$1,000
23-Aug-1711$13,640 98$11,840 3$1,800

M&A/FUNDINGS

Vistra acquires Energy Harbor’s nukes for $6.76B

Deal Description: Vistra, an Irving-based retail electricity and power generator, announced March 6 it will acquire Energy Harbor, an Ohio nuclear power and retail energy business, for $3 billion in cash and a 15 percent equity interest in a newly formed subsidiary holding company Vistra Vision. The deal will combine the nuclear and retail businesses of both companies along with the renewables and storage projects as part of Vistra Zero into Vistra Vision. Most Energy Harbor shareholders will receive cash at closing, and the two largest shareholders, Avenue Capital Group and Nuveen, will receive a combination of cash and the equity interest. Vistra Vision will assume about $430 million of net debt from Energy Harbor. Vistra will continue to own 85 percent of Vistra Vision as well as all of Vistra Tradition, Vistra’s gas and coal generation fleet. Vistra intends to finance the majority of the $3 billion of cash consideration through debt financing at Vistra Operations, with all or a portion of the debt expected to be invested in Vistra Vision via an inter-company loan. At closing, it is expected that the net debt of Vistra Vision will be about $3.43 billion. Vistra said the combination would create the second largest competitive nuclear fleet in the country along with an expanding renewables and energy storage portfolio. Vistra will not acquire Energy Harbor’s legacy conventional generation fleet, which Energy Harbor has previously agreed to sell to third parties.

Expected Closing: H2 2023

Vistra’s Financial Advisor: Citi

Vistra’s Outside Counsel: Latham & Watkins and Balch & Bingham. From Latham: The team was led by Houston partner Trina Chandler and New York partners Caroline Blitzer Phillips and David Kurzweil with associates Julian Azran, Kyle Adams, Lachlan Sievert, Kara Chung, Rebekah Bingham and Jeremie Ruiz. From Texas, Houston partner Joel Mack advised environmental matters.

Energy Harbor’s Financial Advisors: Goldman Sachs & Co. and RBC Capital Markets

Energy Harbor’s Outside Counsel: Dechert as corporate legal counsel and Morgan, Lewis & Bockius as regulatory counsel

Tidewater buys platform supply vessels from Solstad for $577M

Deal Description: Tidewater Inc. announced March 7 a definitive agreement to purchase 37 of Solstad Offshore’s platform supply vessels for $577 million. Tidewater said the deal solidifies it as the leading high-specification PSV operator, enhances its position as the leading global OSV operator with a world-class fleet and creates the world’s largest hybrid fleet. The company said it also creates a platform for cash flow generation, with the acquired vessels having a backlog of $620 million. Assuming the transaction closes at the end of the second quarter, Tidewater is updating its revenue guidance for 2023 to about $1.03 billion, and its vessel operating margin guidance for 2023 remains at around 50 percent.

Tidewater’s Outside Counsel: Vinson & Elkins led by partner Steve Gill, Mike Telle and David Stone with assistance from counsel Jing Tong and associates Chandler Jones and Cole Leveque. Other key team members include, from Texas, partner John Michael (energy transactions/projects)

ZeroNox does $306M merger with SPAC Growth for Good

Deal Description: ZeroNox Inc., a provider of off-highway vehicle electrification, announced March 8 that it will become the first publicly listed company of its kind through a transaction with the Growth for Good Acquisition Corp., a publicly traded special purpose acquisition company. Upon closing, ZeroNox’s common stock is expected to trade on the NASDAQ under the ticker symbol “ZNOX.” The transaction represents an enterprise value of $306 million for ZeroNox. Growth for Good holds about $253 million of cash in trust from its initial public offering in December 2021. ZeroNox said the transportation sector is responsible for a quarter of all global greenhouse emissions and one-third of all emissions in the U.S., citing a United Nations study, and transitioning fleets and fuels to zero-emission is a top priority of country governments, corporations and consumers wanting to lower their carbon footprint. But pain points across the value chain have slowed electrification efforts, it said, including the cost and time required to design, develop and manufacture electric models, a lack of in-house expertise, insufficient infrastructure and limited options for electric vehicle service and support. ZeroNox claims its product suite and partnership strategy provide solutions.

Growth for Good’s Outside Counsel: Skadden, Arps, Slate, Meagher & Flom led by M&A partners Howard Ellin and C. Michael Chitwood in New York but including capital markets associate Austin Porter in Houston.

ZeroNox’s Outside Counsel: Loeb & Loeb

ZeroNox’s Financial Advisor: Chardan Capital Markets

GIO World Health plans $250M merger with SPAC Apeiron

Deal Description: GIO World Health, a recently formed company focused on stem cell research and development, and Apeiron Capital Investment Corp., a publicly traded special purpose acquisition company, announced March 8 that they agreed to combine to bring GIO’s stem cell treatments to market. Apeiron common stock will be listed on either the New York Stock Exchange or NASDAQ and it will be renamed “GIO World Health Holdings Inc.” The deal gives GIO a pre-money enterprise value of $250 million. GIO will own around 80.83 percent of the combined public company post-closing. GIO, founded in 2021 by Anand Srivastava and Deven Patel, plans to distribute products and services globally and may also pursue FDA approval for more advanced therapies. The company expects to mass produce red blood cells from stem cells in a bioreactor to solve the blood shortage problem and provide stem cell-based therapies through their Longevity clinics, which are set to begin in the second half of 2023 focusing on anti-aging treatments. GIO plans to also offer skin care products that will help improve vascularization and healing of inflammation-injured cells.

Expected Closing: H2 2023 if it clears Apeiron shareholders

GIO’s Outside Counsel: Winston & Strawn led by Houston partner Mike Blankenship and including, from Texas, partner Dean Hinderliter and associates John Niedzwiecki, Christine Olivo, Louis Savage, Tori Sharockman, Ben Smolij and Aaron Walker

GIO’s Capital Markets/Financial Advisor: TAG Partners Ltd.

Apeiron’s Outside Counsel: Ellenoff Grossman & Schole

Park Cities completes $67M Elevate acquisition

Deal Description: Fort Worth-based Elevate Credit Inc., a tech-enabled provider of online credit solutions for non-prime consumers, announced Feb. 28 the completion of its acquisition by Park Cities Asset Management, an alternative asset manager focused on providing flexible capital solutions. Park Cities acquired Elevate for $1.87 per share in an all-cash transaction at an implied value of $67 million. With the completion of the transaction, Elevate shares have ceased trading, and once the delisting application becomes effective with the SEC, will no longer be listed on the New York Stock Exchange. The company will continue to operate under the Elevate name and brand.

Elevate’s Financial Advisor: Morgan Stanley & Co.

Elevate’s Outside Counsel: Morrison & Foerster led out of San Francisco but including Austin technology transactions of counsel Lawrence Gallick

Park Cities’ Outside Counsel: Haynes and Boone, Wick Phillips Gould & Martin and Husch Blackwell. From HaynesBoone: Partners Jennifer Wisinski and Stephen Grant assisted by a core deal team that included associates Zach Burnett, Cameron Scales, Matt Barringer, Morgan Smith and Matthew Thompson. Providing additional support from Texas were, on benefits: partner Susan Wetzel and counsel Scott Thompson; environmental: partner Mary Mendoza; insurance: partner David Taubenfeld; labor and employment: partner Raquel Alvarenga; restructuring: partner Ian Peck and associate Jordan Chavez; and intellectual property: partner Gavin George.

From Wick Phillips: partners Chris Kirkpatrick, Steven Rubin and Jason Myers.

From Husch: partner Steve Camp

Viper sells Eagle Ford overriding royalty interests for $53.8M

Deal Description: Porter Hedges said March 10 it represented a unit of Viper Energy Partners, on the divestiture of Viper’s position in the Eagle Ford Shale for $53.8 million. The position consists of 681 net royalty acres of third-party operated acreage. The transaction closed on Dec. 29 and was announced as part of Viper’s earnings announcement on Feb. 21.

From Porter Hedges: Michael Byrd, Shane Sullivan, Geoff Schultz and Nicholas Moore

Marathon Petroleum buys interest in LF Bioenergy for $50M

Deal Description: Marathon Petroleum Corp., or MPC, announced March 8 the acquisition of a 49.9 percent interest in U.S. renewable natural gas producer LF Bioenergy from Cresta Fund Management for $50 million. The agreement includes the potential for up to an additional $50 million based on the achievement of predetermined earn-out targets. LF Bioenergy has been focused on developing and growing a portfolio of dairy farm-based, low carbon intensity RNG projects. Current projects are under various stages of development, with the first facility nearing completion and expected to be in service in the first half of 2023. LF Bioenergy’s management and origination teams continue to expand the portfolio with additional sanctioned projects while progressing its existing pipeline of opportunities toward final investment decisions. As project milestones are achieved, MPC is expected to fund its share of capital expenditures.

MPC’s Outside Counsel: Jones Day led by partners Jeff Schlegel and Alex Wilde

MPC’s Financial Advisor: Barclays

Cresta’s/LF Bioenergy’s Outside Counsel: Weil, Gotshal & Manges led by private equity partner Rodney Moore, counsel Scott Delaney and associates Luke Harley and Luke Smith and including tax partner Jonathan Macke and associate Greg Williamson and real estate attorney Leslie Smith

Cresta’s/LF Bioenergy’s Financial Advisor: Guggenheim Securities

KLX Energy buys all equity interests in Greene’s Energy Group for $30.3M

Deal Description: KLX Energy Services Holdings Inc. said March 8 it acquired all of the equity interests of Greene’s Energy Group, including $1.7 million in cash remaining with Greene’s, in an all-stock transaction. The consideration consisted of issuing about 2.4 million shares of KLX common stock with an implied enterprise value of around $30.3 million, based on a 30-day volume weighted average price as of March 7, without the acquired cash.

KLX’s Outside Counsel: Vinson & Elkins led by partners Mike Marek and Katherine Frank with assistance from partner Sarah Morgan and associates Chandler Jones, John Frey and Rivers Stephens. Other team members included, from Texas, senior associate Grace-Ann Duquette and associate Jennifer Chacon (corporate); partners Ryan Carney and Brian Russell and associate Max Van Benschoten (tax); partners Shane Tucker and Dario Mendoza and senior associate Brian DeShannon (executive compensation/benefits); partner Becky Baker, counsel Alex Bluebond and associate Ashley Plunk (employment/labor); counsel Scot Dixon (real estate); counsel Rajesh Patel and associate Alexa Chally (technology transactions/IP); partner Matt Dobbins (environmental); and partner Sarah Mitchell and associate Victoria Bahrami-Negad (insurance).

Greene’s Outside Counsel: Sidley Austin advised Greene’s Energy with a team led from Houston by partners Atman Shukla, George Vlahakos and Cliff Vrielink. They were assisted by associates Ashley Moulder and Aashiq Jivani, along with partner Zackary Pullin.

Greene’s Financial Advisor: Simmons Energy, a division of Piper Sandler

Builders FirstSource pays $83M for Noltex

Deal Description: Alston & Bird said March 9 it represented Builders FirstSource, a manufacturer and distributor of building products to professional homebuilders, on its $83 million acquisition of Texas-based building materials company Noltex Holdings Inc. The deal was announced Feb. 28.

From AB: The team was led by partner Kyle Healy in Atlanta.

Funga attracts $4M seed financing

Deal Description: Gunderson Dettmer said last month it represented Funga PBC, a nature-based carbon removal technology company, on its $4 million seed financing led by Azolla Ventures. Funga is developing solutions to address climate change by leveraging the power of the fungal microbiome to remove carbon dioxide from the atmosphere. The company will use the new capital to accelerate the development of its proprietary software and datasets and scale the footprint of its restoration projects.

From Gunderson: The team was led by Wes Watts in Austin and included Emma Anderson and Sean Patrick McGinley

Carlyle sells PrimeFlight to Sterling Group, Capitol Meridian

Deal Description: Funds managed by global investment firm Carlyle announced March 6 a definitive agreement to sell Texas-based PrimeFlight Aviation Services to Capitol Meridian Partners and the Sterling Group in a 50/50 partnership for undisclosed terms. PrimeFlight, based in Sugar Land, is a global provider of aircraft, passenger and security-related services to commercial airline, airport, cargo and general aviation customers. PrimeFlight has operations across 235 stations and 12,000 employees globally with primary operations in North America and Europe. Typical enterprise values of Sterling’s companies at initial formation range from $100 million to $750 million. Sterling has sponsored the buyout of 64 platform companies and add-on acquisitions for a transaction value of $14 billion and has over $5.1 billion of assets under management. Carlyle has $373 billion of assets under management.

PrimeFlight/Carlyle’s Outside Counsel: Latham & Watkins led out of Washington, D.C.

PrimeFlight/’s Financial Advisors: Morgan Stanley & Co and Jefferies

Capitol Meridian/Sterling’s Outside Counsel: McDermott Will & Emery led out of Chicago and New York

Chevron’s Bayou Bend expands carbon capture project through acreage acquisition

Deal Description: Bayou Bend CCS, a carbon capture and sequestration project along the Texas Gulf Coast, announced March 6 an expansion of its carbon dioxide storage footprint through the acquisition of nearly 100,000 acres onshore in Chambers and Jefferson Counties, Texas. The increased acreage positions Bayou Bend to be one of the largest carbon storage projects in the U.S. Bayou Bend is a joint venture between Chevron U.S.A. Inc. through its Chevron New Energies division, Talos Energy Inc. through its Talos Low Carbon Solutions division and Carbonvert Inc. Equity interests remain at 50 percent Chevron, 25 percent Talos and 25 percent Carbonvert with Chevron becoming operator as of March 1.

Chevron’s Outside Counsel: Latham & Watkins led by Houston partner Lauren Anderson with Houston associate Omar Shariff. Advice was also provided on tax matters by Houston partner Jim Cole with Houston associate Christine Mainguy.

Fusion Pharmaceuticals buys RadioMedix’s program

Deal Description: Gunderson Dettmer said last month it represented past client RadioMedix Inc., a clinical-stage biotechnology company, on the acquisition of its 225Ac-PSMA-I&T program, a targeted alpha therapy for metastatic castration-resistant prostate cancer, by Fusion Pharmaceuticals Inc. Terms weren’t disclosed. RadioMedix develops targeted radiopharmaceuticals for diagnostic imaging and therapy of cancer designed to improve patient outcomes and quality of life. Through this acquisition, the two companies can support further development of commercialization for the therapy.

From Gunderson: The team was led by Wes Watts and Alex Devine and included Ben Cukerbaum, Melissa Brekke and Sean Patrick McGinley.

Captrust buys Monroe Vos

Deal Description: Alston & Bird said March 9 it represented Raleigh, N.C.-based Captrust Financial Advisors, the country’s largest independent registered investment advisor, on its acquisition of Houston-based investment advisory firm Monroe Vos Consulting Inc. Terms weren’t disclosed. The target, which also has an office of Birmingham, Ala., provides advisory services for retirement plan sponsors and high-net-worth individuals. The addition of Monroe Vos brings more than $5.8 billion in assets and a team of 17 professionals to Captrust’s portfolio. The deal is the first for Captrust in 2023 and the 64th since 2006.

Monroe Vos’ Financial Advisor: Park Sutton Advisors, a unit of Waller Helms

From Alston Bird: The team was led by partners Chris Frieden and Ian Calhoun in Atlanta.

Zenoss attracts Series C-2 financing

Deal Description: DLA Piper said March 10 it counseled management of Austin-based Zenoss on its Series C-2 financing. Terms weren’t disclosed. The deal closed Jan. 31. The company is a provider of intelligent SaaS application and IT service monitoring.

From DLA: Partner John Gilluly in Austin

BoomTown sells to Inside Real Estate

Deal Description: DLA Piper said March 10 it advised Charleston, S.C.-based BoomTown on its sale to Inside Real Estate, a private equity-backed residential real estate software company in Utah. Terms weren’t disclosed on the deal, which closed Jan. 19 and was announced Jan. 20.  BoomTown is a cloud-based sales and marketing automation platform serving more than 100,000 real estate professionals.

From DLA: Partner Joseph Fore in Austin

BoomTown’s Financial Advisor: Houlihan Lokey

Inside Real Estate’s Outside Counsel: Kirkland & Ellis

CAPITAL MARKETS/FINANCINGS

HAK advises on Florida Power & Light’s $2.5B first mortgage bonds 

Deal Description: Hunton Andrews Kurth said March 10 it advised the underwriters on a SEC-registered offering by NextEra Energy Inc. unit Florida Power & Light Co. of $2.5 billion in three sets of first mortgage bonds: $1 billion of its 5.05 percent series due April 1, 2028, $750 million of its 5.10 percent series due April 1, 2033, and $750 million of its 5.30 percent series due April 1, 2053.  FPL is a rate-regulated electric utility engaged primarily in the generation, transmission, distribution and sale of electric energy in Florida. FPL is the largest electric utility in Florida and one of the largest electric utilities in the U.S. As of Dec. 31, 2022, FPL had 32,100 megawatts of net generating capacity, 88,000 circuit miles of transmission and distribution lines and 871 substations. FPL serves 12 million people through 5.8 million customer accounts.

Underwriters: Led by BNP Paribas Securities Corp., Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Goldman Sachs & Co., KeyBanc Capital Markets Inc. and Mizuho Securities USA 

From HAK: The team included Steven C. Friend, Brendan P. Harney, Michelle G. Chan, Jingyi “Alice” Yao and Thomas White. Robert McNamara and Tim Strother in Houston provided tax advice.

FLP’s Outside Counsel: Morgan Lewis & Bockius

Permian Resources closes $302.5M offering of shares owned by NGP, Riverstone

Deal Description: Permian Resources Corp. announced March 7 the commencement of an underwritten public offering of an aggregate 27.5 million shares of its Class A common stock by affiliates of NGP Energy Capital and Riverstone Investment Group. The secondary was priced at $11 per share, so the transaction value should be $302.5 million. Permian Resources won’t sell any shares of Class A common stock in the offering and won’t receive any proceeds. The selling stockholders were expected to grant the underwriters a 30-day option to purchase up to an additional 4.125 million shares of Class A common stock at the public offering price minus underwriting discounts and commissions. The offering closed March 10. Along with the closing, the company intended to purchase from the NGP Stockholders 2.75 million common units representing limited liability company interests of Permian Resources Operating, a unit of Permian Resources.

Book-Running Managers: J.P. Morgan and Citigroup

Permian Resources’ Outside Counsel: Vinson & Elkins led by partners Doug McWilliams and Jackson O’Maley and senior associate Alex Lewis with assistance from associates Nate Richards, Delery Perret, Autumn Simpson and Kelli Westmoreland. Also advising were partners John Lynch and Wendy Salinas and associate Jeff Slusher (tax); partner David D’Alessandro and counsel Regina Ibarra (executive compensation/benefits); and partner Matt Dobbins and associate Ryan Vanderlip (environmental).

JPM’s Outside Counsel: Latham & Watkins led by partners Jim Greer and William Finnegan

Atlas Energy Solutions prices $292M IPO

Deal Description: Austin-based Atlas Energy Solutions Inc. announced March 8 the pricing of its initial public offering of 18 million shares of its Class A common stock at $18 per share.  The company originally expected that the IPO would be priced between $20 and $23 per share. The shares started trading on the New York Stock Exchange under the ticker symbol “AESI” on March 9. Atlas granted the underwriters a 30-day option to purchase up to an additional 2.7 million shares. Atlas intends to contribute the net proceeds of around $292.9 million, or $338.4 million if the underwriters exercise in full their option, to its subsidiary Atlas Sand Operating Co. in exchange for limited liability company units in Atlas Operating, which will contribute the net proceeds to Atlas Sand Co. Atlas expects to use a portion of the net proceeds to fund the construction of the Dune Express conveyor system and the remainder for general corporate purposes.

Expected Closing: March 13

Underwriters: Goldman Sachs & Co., BofA Securities and Piper Sandler

Atlas’ In-House Counsel: Dathan Voelter, a former V&E attorney, is its general counsel

Atlas’ Outside Counsel: Vinson & Elkins led by Douglas McWilliams and Thomas Zentner, counsel Andrew Schulte and senior associate Todd Hartis with assistance from associates Layton Suchma, Chase Browndorf and Jonathan Burks. Other key team members included partners David Peck, Jason McIntosh, Brian Russell and associate Keleigh Carver (tax); partner David D’Alessandro and counsel Missy Spohn (executive compensation/benefits); partner Matt Dobbins and associate Ryan Vanderlip (environmental); and associates Carli Gish, Walt Baker and Phillip Greenfield (corporate).

Underwriters’ Outside Counsel: Latham & Watkins led by partners David Miller in Austin and Monica White in Houston with Austin associates Pia Kaur and Connor Adams and Houston associates Nathaniel Bass, Wole Oluborode and Rebekah Bingham. Advice was also provided tax matters by Houston partner Bryant Lee with Houston associate Dylan White; on environmental matters by Houston partner Joshua Marnitz; and on ESG matters by Austin partner Sarah Fortt.

Notes: The IPO is the second biggest so far this year after solar power equipment maker Nextracker Inc., in an ongoing trend toward more such issues.

Enviva announces $250M PIPE transaction

Deal Description: Enviva Inc. announced March 1 it agreed with board members and insiders for the issuance and sale of $250 million of equity securities. The private investment in public equity, or PIPE, was led by affiliates of Enviva’s two largest shareholders, Riverstone Holdings and Inclusive Capital Partners and BTG Pactual. If shareholder approval is required based on the PIPE’s pricing, Enviva will issue non-voting preferred stock on the closing date, which will convert into common stock upon shareholder approval of the issuance. The net proceeds are expected to be around $247 million after deducting expenses, which Enviva plans to use to fund its growth capital program and repay borrowings under its revolver and for general corporate purposes.

Expected Closing: March 20

Enviva’s Outside Counsel: Vinson & Elkins led by partner Ramey Layne and counsel Joanna Enns with assistance from associates Joe Milano, Chandler Spinks, Jake Lubenow and Kylie Kopp

DigitalBridge provides $100M debt financing to Surf Internet

Deal Description: White & Case said March 7 it advised DigitalBridge Credit, a unit of digital infrastructure investment firm DigitalBridge Group Inc., on a $100 million debt financing provided to Surf Internet, a fiber-optic high-speed internet service provider in the U.S.’ Great Lakes region. The financing will support Surf’s plan to expand its network into more than 60 markets while strengthening its multi-gig capabilities, which includes exceeding 100,000 fiber passings in 2023 and roughly doubling its fiber passings through 2024. DigitalBridge Credit offers senior and junior debt financing for digital infrastructure companies in North America and Europe and manages a $50 billion portfolio of digital infrastructure assets on behalf of its limited partners and shareholders.

From White & Case: The debt finance team was led by partner Eric Klar in Miami but included associates Litian Chen in Houston and Yana Gontcharova in New York.

Claire Poole

Claire Poole is a senior writer at The Texas Lawbook, where she covers corporate transactions.

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