CDT Roundup: 24 Deals, 12 Firms, 240 Lawyers, $7.9B

SPACs are born with a gun to their head.

Special purpose acquisition companies have a limited time — usually 18 to 24 months — to “deSPAC,” in other words, to consummate their target purchases or otherwise return their money to investors. 

There have been some high flying SPAC failures, most notably billionaire activist investor Bill Ackman’s Pershing Square Tontine Holdings, which had to kick back $4 billion to investors after failing to find an adequate target company to take public. The number of liquidations this year have amounted to 10.

More than 600 SPACs were created between 2020 and 2021. But so far in 2022, there has been a falloff in SPAC issues, and not a single SPAC was offered in July, according to CNBC.

Some SPACs are finding their prey, however, as the Corporate Deal Tracker found out this week. Bridger Aerospace was roped in by Jack Creek Investment Corp., Plasti by Colonnade Acquisition Corp. II and Marti by Galata Acquisition Corp. Handling them were Texas lawyers from Sidley and Latham & Watkins, where SPACmeister Ryan Maierson led two of them.

If the depressed numbers of the last few weeks had you whispering the “R” word, the week ending Aug. 6 should have you reassured that the bottom hasn’t fallen out of August. On the week there were 24 deals at a reported value of more than $7.9 billion — with 17 M&A transactions worth $3.6 billion accompanied by seven capital markets deals worth $4.3 billion. Compare that to last week’s eight deals for $6.9 billion.

But consider also that there were 17 deals for $13.7 billion during the first week of August last year. By month’s end, Texas lawyers had racked up more than 60 deals for more than $60 billion. Keep that in mind as you continue to watch this space.

Weekly Corporate Deal Tracker Roundup Stats

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

Week Ending	Deal Count	Amount	Firms	Lawyers	M&A Count	M&A Value $M	CapM Count	CapM Value $M
09-Sept-25	19	$8,622	12	190	13	$2,880	6	$8,622
30-Aug-25	10	$6,569	9	109	7	$3,519	3	$3,050
23-Aug-25	23	$15,207	10	129	18	$14,500	5	$707
16-Aug-25	13	$26,405	12	149	7	$3,180	6	$23,225
09-Aug-25	19	$16,066	16	245	15	$11,307	4	$4,759
02-Aug-25	17	$19,480	11	104	13	$18,002	4	$1,478
26-Jul-25	15	$3,164	12	96	12	$3,0023	3	$162
19-Jul-25	14	$6,080	14	97	9	$4,165	5	$1,915
12-Jul-25	15	$13,012	14	208	12	$10,902	3	$2,110
05-Jul-25	9	$15,778	8	91	4	$7,280	5	$8,498
28-Jun-25	13	$7,777	8	154	7	$2,031	6	$5,746
21-Jun-25	16	$5,984	10	113	11	$3,087	5	$2,897
14-Jun-25	9	$478	8	133	6	0	3	$478
07-Jun-25	16	$26,210	11	196	11	$24,744	5	$1,466
31-May-25	19	$23,381	11	166	12	$18,665	7	$4,717
24-May-25	15	$24,033	11	121	13	$23,624	2	$409
17-May-25	16	$21,760	12	145	11	$18,615	5	$3,145
10-May-25	24	$33,175	16	206	19	$30,765	5	$2,410
03-May-25	11	$4,249	13	90	11	$2,226.5	2	$2,022.5
26-Apr-25	12	$8,787	9	168	9	$6,011	3	$2,776
19-Apr-25	11	$8,097	7	138	9	$7,985	2	$112
12-Apr-25	13	$2,392	8	152	10	$2,065	3	$327
05-Apr-25	19	$27,762	15	188	16	$25,473	3	$2,289
29-Mar-25	21	$8,188	10	258	16	$4,125	5	$4,064
22-Mar-25	19	$6,485	14	231	15	$4,128	4	$2,857
15-Mar-25	13	$13,737	13	151	10	$9,932	4	$3,805
8-Mar-25	7	$2,234	5	66	5	$224	2	$2,100
1-Mar-25	11	$3,050	8	75	10	$2,550	1	$500
24-Feb-25	12	$16,397	7	149	6	$6,635	6	$9,862
17-Feb-25	17	$12,136	13	134	10	$9,411	2	$2,725
10-Feb-25	14	$7,154	9	179	9	$4,950	5	$2,204
3-Feb-25	16	$10,068	7	200	11	$7,553	5	$2,515
25-Jan-25	14	$10,261	10	125	9	$2,207	5	$8,054
18-Jan-25	19	$7,382	15	316	12	$2,300	7	$5,082
11-Jan-25	21	$33,560	16	187	16	$32,521	5	$1,039
4-Jan-25	9	$6,827	9	80	9	$6,827	0	0
21-Dec-24	11	$2,798	11	92	8	$2,229	3	$570
14-Dec-24	15	$5,323	12	186	12	$3,812	3	$1,511
07-Dec-24	16	$4,766	10	231	11	$2,321	5	2,445
30-Nov-24	10	$10,291	9	103	4	$8,290	6	$2.001
23-Nov-24	15	$4,553	15	153	11	$3,379	4	$1,174
16-Nov-24	17	$11,488	11	245	13	$10,186	4	$1,303
09-Nov-24	14	$2,110	12	139	12	$1,410	2	$700
02-Nov-24	12	$52,788	11	107	11	$52,738	1	$50
26-Oct-24	8	$3,160	8	65	7	$3,065	1	$75
19-Oct-24	12	$5,304	11	136	11	$4,554	1	$750
12-Oct-24	17	$8,438	12	150	15	$8,116	2	$322
05-Oct-24	22	$23,181	12	189	15	$19,980	7	$3,201
28-Sep-24	11	$2,356	7	144	7	$53	4	$2,303
21-Sep-24	12	$9,568	10	169	5	$4,101	7	$5,467
14-Sep-24	24	$10,988	12	235	16	$7,175	8	$3,813
7-Sep-24	12	$20,420	16	168	11	$20,307	1	$112.9
31-Aug-24	13	$20,631	9	134	12	$14,775	1	$5,856
24-Aug-24	19	$8,452	21	325	16	$7,102	3	$1,350
17-Aug-24	25	$49,196	16	304	11	$39,386	14	$9,810
10-Aug-24	20	$12,264	15	312	16	$9,794	4	$2,470
03-Aug-24	26	$16,498	16	334	18	$8,137	8	$8,361
27-Jul-24	19	$16,442	21	271	15	$13,838	4	$2,604
20-Jul-24	15	$16,016	14	184	10	$14,232	5	$1,784
13-Jul-24	20	$17,220	14	265	18	$7,146	2	$10,074
6-Jul-24	11	$3,941	11	95	8	$2,650	3	$1,291
29-Jun-24	14	$6,296	15	224	8	$6,296	6	$1,927
22-Jun-24	12	$5,679	8	137	5	$210	7	$5,469
15-Jun-24	13	$9,895	16	214	10	$5,280	3	$4,615
8-Jun-24	19	$23,859	13	239	12	$19,436	7	$4,423
1-Jun-24	12	$34,510	11	147	9	$26,110	3	$8,400
25-May-24	13	$9,684	15	171	10	$4,434	3	$5,250
18-May-24	11	$5,490	11	173	8	$3,129	3	$2,361
11-May-24	22	$14,855	14	227	16	$11,105	6	$3,750
4-May-24	13	$3,139	9	87	10	$1,297	3	$1,842
27-Apr-24	10	$6,684	6	28	10	$6,684	0	0
20-Apr-24	19	$15,989	11	147	9	$5,208	10	$10,781
13-Apr-24	13	$8,952	9	76	10	$1,652	3	$7,300
6-Apr-24	23	$26,616	14	222	14	$13,501	8	$13,116
30-Mar-24	12	$9,286	8	136	8	$4,299	4	$4,987
23-Mar-24	18	$5,451	17	266	16	$4,759	2	$692
16-Mar-24	21	$11,437	13	186	14	$9,316	6	$2,070
9-Mar-24	23	$4,695	21	218	19	$2,723	4	$1,972
2-Mar-24	20	$9,108	19	372	14	$4,558	6	$4,550
24-Feb-24	19	$16,382	12	248	15	$9,507	4	$6,875
17-Feb-24	16	$29,932	15	157	12	$29,216	4	$716
10-Feb-24	25	$10,750	17	196	19	$5,372	6	$5,379
3-Feb-24	12	$8,416	18	125	9	$3,416	3	$5,000
27-Jan-24	9	$8,165	9	87	8	$7,815	1	$800
20-Jan-24	14	$4,084	12	109	12	$3,219	2	$865
13-Jan-24	17	$33,588	12	256	12	$26,765	5	$6,823
6-Jan-24	8	$7,915	8	84	6	$7,265	2	$650
30-Dec-23	17	$14,599	12	99	15	$2,714	2	$11,885
23-Dec-23	23	$4,182	13	219	16	$1,813	7	$2,370
16-Dec-23	13	$16,436	13	280	7	$15,150	5	$1,286
9-Dec-23	26	$14,633.90	17	244	16	$8,095	10	$6,538.90
2-Dec-23	13	$6,720	9	57	12	$6,630	1	$90
25-Nov-23	9	$4,835	9	131	6	$1,785	3	$3,050
18-Nov-23	22	$6,568.70	17	184	14	$4,709.20	8	$1,859.50
11-Nov-23	15	$9,825	13	179	12	$6,581	3	$3,244
4-Nov-23	15	$20,582.50	14	193	12	$19,417.50	3	$1,165
28-Oct-23	18	$68,419.10	18	152	15	$66,646	3	$1,773.10
21-Oct-23	16	$6,755.90	16	165	15	$6,755.90	1	$3
14-Oct-23	14	$67,851.20	13	125	9	$61,998.50	5	$5,852.70
7-Oct-23	17	$6,595.50	13	228	16	$5,995.50	1	$600
30-Sep-23	17	$1,896.45	13	189	14	$806.45	3	$1,090
23-Sep-23	23	$6,432.70	17	230	16	$1,402.80	7	$5,029.90
16-Sep-23	25	$23,226.70	23	353	16	$17,239	9	$5,987.70
9-Sep-23	12	$6,369	8	102	7	$4,311	5	$2,058
2-Sep-23	14	$2,522	6	92	13	$1,322	1	$1,200
26-Aug-23	17	$12,160.25	13	202	15	$6,573.25	2	$5,587.00
19-Aug-23	19	$11,505	13	213	15	$11,255	4	$250
12-Aug-23	19	$9,698.80	13	184	7	$3,270	12	$6,428.80
5-Aug-23	13	$5,201	12	118	12	$5,051	1	$150
29-Jul-23	15	$21,031.60	13	196	11	$18,292.00	4	$2,739.60
22-Jul-23	18	$3,992	12	130	13	$2,808	5	$1,184
15-Jul-23	13	$8,254.95	13	81	13	$8,254.95	0	0
8-Jul-23	16	$5,441.45	12	172	11	$2,443	5	$2,998.45
1-Jul-23	16	$6,872	10	105	12	$5,474	4	$1,398
24-Jun-23	13	$10,914	16	201	10	$7,874	3	$3,040
17-Jun-23	17	$5,880.70	15	151	15	$4,705.70	2	$1,175
10-Jun-23	19	$8,516.10	13	111	16	$6,252.40	3	$2,263.70
June 3 2023	12	$6,104.42	12	138	8	$4,256.92	4	$1,847.50
27-May-23	17	$12,200	10	67	11	$6,165	6	$6,035
20-May-23	11	$22,458.10	8	103	4	$19,455	7	$3,003
13-May-23	12	$7,034	10	101	8	$5,460	4	$1,574
6-May-23	20	$3,297.60	18	196	17	$2,985.60	3	$312
29-Apr-23	23	$3,691.20	18	135	17	$1,969.70	6	$1,721.50
22-Apr-23	16	$5,570	14	104	14	$4,750	2	$1,000
15-Apr-23	12	$23,818.10	9	59	10	$21,618.10	2	$2,200
8-Apr-23	16	$7,949	9	173	9	$5,472	7	$3,477
1-Apr-23	21	$18,676.70	12	175	11	$10,926.70	10	$7,750
25-Mar-23	15	$8,779.50	10	141	5	$2,362	10	$6,416.50
18-Mar-23	7	$14,048.80	6	69	5	$13,345	2	$703.80
11-Mar-23	21	$11,576	16	165	16	$8,131	5	$3,445
4-Mar-23	20	$9,668	11	228	16	$8,209	4	$1,459
25-Feb-23	13	$5,335	13	130	12	$4,235	1	$1,200
18-Feb-23	14	$5,743.70	13	158	8	$898.70	6	$4,845
11-Feb-23	16	$12,088	12	137	12	$9,965	4	$2,123
4-Feb-23	17	$8,066	15	140	13	$5,614	4	$2,452
28-Jan-23	7	$2,180	7	75	5	$1,692.75	2	$488
21-Jan-23	17	$5,768	16	174	12	$1,918	5	$3,850
14-Jan-23	11	$2, 800	10	102	8	$421	3	$2,400
7-Jan-23	18	$8,296	11	167	14	$6,461	3	$1,835
31-Dec-22	14	$2,732	11	99	12	$2,092	2	$640
17-Dec	14	$7,919	13	115	12	$7,419	1	$500
10-Dec-22	14	$10,093	12	88	11	$7,093	3	$3,000
3-Dec-22	26	$12,800.90	11	172	20	$4,141	6	$8,659.90
26-Nov-22	8	$2,266.70	8	5	3	$76	5	$2,190.70
19-Nov-22	21	$2,886	15	212	19	$2,550	2	$336
12-Nov-22	13	$15,093.70	9	81	9	$14,200	4	$893.70
5-Nov-22	25	19,337.20	16	509	22	$8,267.20	3	$11,070
29-Oct-22	15	$7,805.30	9	116	14	$7,180.30	1	$625
22-Oct-22	20	$8,193.50	13	253	13	$5,442	7	$2,751.50
15-Oct-22	9	$3,046.10	9	139	7	$2,588.30	2	$457.80
8-Oct-22	19	$2,011.80	12	114	16	$833.80	3	$1,178
1-Oct-22	23	$5,532.90	16	156	18	$4,952.30	5	$580.60
24-Sep-22	18	$5,194	14	216	15	$4,050	3	$1,144
17-Sep-22	21	$8,352.30	12	320	15	$4,759.60	6	$3,592.70
10-Sep-22	15	$19,853.50	10	126	13	$19,403.60	2	$450
3-Sep-22	9	$2,312	9	62	9	$2,312	0	0
27-Aug-22	16	$30,891.70	10	135	15	$30,666.40	1	227.7
20-Aug-22	12	$1,977	8	152	9	925	3	$1,052
13-Aug-22	18	$8,004.70	11	242	11	$2,844.70	7	$5,160
6-Aug-22	24	$7,948.90	12	240	17	$3,577	7	$4,371.90
30-Jul-22	8	$6,941	9	78	7	$6,839	1	$102
23-Jul-22	11	$801	11	92	10	$801	1	0
16-Jul-22	14	$3,650	10	122	14	$3,650	0	0
9-Jul-22	10	$3,557.70	7	68	9	$3,557.70	1	0
2-Jul-22	18	$8,609.40	13	152	15	$2,754.40	3	$5,855
25-Jun-22	15	$6,142	13	146	9	$2,017	6	$4,125
18-Jun-22	17	$11,890.10	14	228	15	$11,410	2	479.7
11-Jun-22	17	$7,600	12	123	10	$2,300	7	$5,300
4-Jun-22	12	$2,937	10	127	9	$692	3	$2,245
28-May-22	9	$3,197.60	11	86	9	$3,197.60	0	0
21-May-22	14	$7,284.50	12	185	11	$6,609	3	$675.50
14-May-22	11	$306.60	9	80	10	$306.60	1	$225
7-May-22	16	$10,451.75	12	108	12	$1,827	4	$8,624.75
30-Apr-22	16	$2,296.50	16	157	12	$895.50	4	$1,401
23-Apr-22	10	$2,241	11	58	8	$1,641	2	$600
16-Apr-22	11	$6,643	7	156	8	$2,359	3	$4,284
9-Apr-22	17	$4,429	14	184	11	$1,690	6	$2,739
2-Apr-22	13	$1,755	8	84	10	$1,145	3	$610
26-Mar-22	11	$3,205	8	65	6	$200	5	$3,005
19-Mar-22	13	$2,239.17	9	106	13	$2,239.17	0	0
12-Mar-22	18	$12,016	11	239	15	$11,965	2	$51.35
5-Mar-22	17	$6,786	13	137	13	$5,161	4	$1,625
26-Feb-22	12	$5,095	8	149	9	$4,437.50	3	$658
19-Feb-22	17	$22,229	17	174	14	$21,354	3	$875
12-Feb-22	12	$2,344.70	10	73	8	$641.70	4	$1,703
5-Feb-22	11	$2,503	8	99	11	$2,503	0	0
29-Jan-22	11	$3,872	12	101	12	$3,872	0	0
22-Jan-22	13	$5,143.50	10	99	12	$4,842.50	1	$301
15-Jan-22	12	$7,605	9	155	9	$6,480	3	$1,025
8-Jan-22	13	$8,256.20	11	102	13	$8,256.20	0	0
1-Jan-22	9	$1,273.80	6	50	9	$1,273.80	0	0
25-Dec-21	21	$4,734.75	11	176	16	$3,410	5	$1,324.75
18-Dec-21	26	$7,325.20	15	193	18	$3,640.20	8	$3,685.20
11-Dec-21	16	$5,017	10	109	13	$1,417	3	$3,600
4-Dec-21	14	$2,310	8	86	8	$2,310	6	$1,882.05
27-Nov-21	9	$3.460.1	10	101	6	$1,758	3	$1,702.60
20-Nov-21	20	$22,792	15	157	12	$18,864.50	8	$3,928
13-Nov-21	21	$26,729	12	178	13	$11,822	8	$14,907
6-Nov-21	12	$8,303	13	157	10	$6,682	3	$1,621
30-Oct-21	21	$10,368	15	218	15	$9,24.4	6	$1,103.00
23-Oct-21	21	$18.783.1	15	222	11	$12,314	10	$6,468.60
16-Oct-21	15	$3,868	11	118	15	$2,293	2	$1,575
9-Oct-21	20	$8,610	16	175	16	$7,795	4	$815
2-Oct-21	14	$6,250	11	137	10	$5,200	4	$1,050
25-Sep-21	11	$11,460	9	93	7	$10,200	4	$1,250
18-Sep-21	11	$16,603	8	99	8	$15,084	3	$1,519
11-Sep-21	17	$10,653	11	103	13	$8,503	4	$2,150
4-Sep-21	13	$7,222	10	89	11	$6,715	2	$507
28-Aug-21	12	$763	9	63	11	$663	1	$100
21-Aug-21	12	$29,659	7	79	11	$29,579	1	$80
14-Aug-21	22	$17,845	11	199	12	$12,805	10	$5,04
7-Aug-21	17	$13,670	12	139	15	$11,766	2	$1,904
31-Jul-21	21	$8,160	11	134	10	$3,574	10	$4,586
July 24,2021	21	$6,367	11	139	15	$3,712	6	$2,655
17-Jul-21	14	$4,009	11	124	12	$2,015	2	$1,994
10-Jul-21	16	$3,997	13	143	11	$1,597	4	$2,4
3-Jul-21	24	$7,492	13	94	16	$3,769	8	$3,722
26-Jun-21	10	$4,995	7	85	8	$3,847	2	$1,148
19-Jun-21	28	$16,830	8	228	9	$1,861	19	$14,968
12-Jun-21	26	$27,238	15	209	19	$25,602	7	$1,636
5-Jun-21	15	$15,539	13	100	13	$14,709	2	$600
29-May-21	35	$20,279	11	145	28	$18,64	7	$1,639
22-May-21	24	$53,208	14	174	17	$51,047	7	$2,161
15-May-21	18	$10,620	13	220	11	$5,870	7	$4,809
8-May-21	17	$10,400	11	156	15	$8,386	2	$2,500
1-May-21	21	$7,200	16	115	12	$3,808	9	$3,392
24-Apr-21	8	$20,200	9	31	8	$20,200	0	0
17-Apr-21	14	$6,270	8	102	11	$40,180	3	$2,260
10-Apr-21	15	$8,940	13	129	14	$7,990	1	$950
3-Apr-21	18	$19,513	10	151	12	$16,923	6	$2,590
27-Mar-21	27	$13,942	15	244	14	$4,300	13	$9,633.50
20-Mar-21	11	$2,046	4	102	3	$270	8	$1,776
13-Mar-21	15	$3,270	9	109	6	$538	9	$2,732
6-Mar-21	24	$13,617	10	196	13	$10,395	11	$3,222
27-Feb-21	19	$8,105	12	139	15	$4,970	4	$3,135
20-Feb-21	9	$8,820	9	153	8	$8,520	1	$300
13-Feb-21	12	$4,852.60	7	81	7	2,766	5	$2,086.60
6-Feb-21	18	$9,752	13	153	14	$5,222	4	$4,530
30-Jan-21	18	$9,449	9	182	15	$8,753.80	3	$695.30
23-Jan-21	14	$8,150	8	118	6	$4,000	8	$4,150
16-Jan-21	17	$6,783	13	138	11	$2,400	6	$4,382.90
9-Jan-21	22	$6,829	14	135	18	$3,139.30	4	$3,690
2-Jan-21	7	$1,466	7	60	7	$1,466	0	0
26-Dec-20	18	$15,900	12	163	16	$5,300	1	$600
19-Dec-20	18	$9,769	14	110	14	$8,426	4	$1,343
12-Dec-20	10	$7,200	9	100	9	$3,325	1	$3,830
5-Dec-20	15	$4,261	9	122	9	$2,780	6	$1,481
28-Nov-20	19	$7,758	10	110	13	$4,003	6	$3,755
14-Nov-20	14	$864.10	14	157	12	$289.10	2	$575
7-Nov-20	13	$6,332	9	129	9	$2,483.50	4	$3,849
31-Oct-20	10	$3,995.80	8	103	6	$3,231.10	4	$754.70
24-Oct-20	6	$18,100	6	58	5	$17,709	1	$350
17-Oct-20	8	$351.90	5	55	8	$351.90	0	0
10-Oct-20	7	$5,229	3	50	4	$735	3	$4,494
3-Oct-20	14	$21,428	9	173	9	$17,535	5	$3,893
26-Sep-20	10	$12,770	8	93	5	$10,300	5	$2,470
19-Sep-20	14	$8,365	9	101	6	$1,020	8	$7,345
12-Sep-20	6	$4,406	8	59	3	$1,270	3	$3,136
5-Sep-20	11	$5,191	8	117	9	$4,061	2	$1,130
29-Aug-20	11	$2,531	9	94	5	$1,130	6	$1,401
22-Aug-20	18	$6,574	12	140	7	$1,930	11	$4,644
15-Aug-20	13	$4,991	10	97	7	$1,216	6	$3,775
8-Aug-20	12	$32,092	11	112	9	$30,457	3	$1,635
1-Aug-20	7	$5,287	8	76	5	$3,687	2	$1,600
25-Jul-20	9	$18,751	6	67	7	$18,403	2	$348
18-Jul-20	6	$1,982.50	5	50	4	$1,407.50	2	$575
11-Jul-20	11	$565.10	12	75	10	$65.10	1	$500
4-Jul-20	10	$8,889	8	98	9	$8,788	1	$100.30
27-Jun-20	8	$6,874	10	50	5	$4,972.50	3	$2,081.50
20-Jun-20	12	$4,444	9	115	7	$2,829	5	$1,615
13-Jun-20	6	$3,582	4	37	2	$350	4	$3,232
6-Jun-20	11	$3,213.70	8	65	7	$470	4	$2,743.70
30-May-20	8	$7,335	7	48	6	$4,639	2	$2,697
23-May-20	4	$432.40	4	34	3	$432.40	1	0
16-May-20	6	$310	6	34	5	$310	1	0
9-May-20	18	$5,630	16	124	14	$3,180	4	$2,450
2-May-20	15	10,400	10	90	8	$1,900	7	$,8,500
25-Apr-20	8	$3,400	9	36	5	$1,000	3	$2,450
18-Apr-20	19	$9,500	14	92	8	$185.70	11	$9,360
11-Apr-20	12	$6,000	9	40	5	$190	7	$5,800
4-Apr-20	14	$8,200	11	68	10	$2,200	4	$6,000
28-Mar-20	16	$6,500	13	96	10	$3,700	6	$2,800
21-Mar-20	11	$11,910	7	33	7	$2,250	4	$9,960
14-Mar-20	7	809.8	6	34	6	684.8	1	125
7-Mar-20	16	$2,500	15	70	13	$669	3	$1,400
29-Feb-20	13	$15,260	13	128	11	$11,760	2	$3,500
22-Feb-20	12	$3,700	10	92	10	$2,560	2	$1,130
15-Feb-20	16	$1,250	10	84	12	$35	4	$1,222
8-Feb-20	18	$6,080	14	123	14	$2,595	4	$3,485
1-Feb-20	21	$20,900	12	101	14	$17,860	7	$3,060
25-Jan-20	13	$7,430	13	62	12	$6,430	1	$1,000
18-Jan-20	23	$9,580	15	120	19	$6,580	4	$3,000
11-Jan-20	21	$14,200	18	199	16	$1,020	5	$13,200
4-Jan-20	22	$6,400	11	119	16	$3,204	6	$3,245
28-Dec-19	22	$7,150	19	175	18	$6,800	4	$327.40
14-Dec-19	24	$36,300	23	167	19	$9,500	5	$26,800
7-Dec-19	11	$10,400	11	55	7	$1,082	4	$9,370
November 30. 2019	14	$2,450	12	126	12	$1,760	2	$692.50
23-Nov-19	16	$1,995	10	41	11	$615	5	$1,380
16-Nov-19	15	$3,820	13	135	11	$2,500	4	$1,271
9-Nov-19	25	$12,900	17	182	23	$12,200	2	$575
2-Nov-19	10	$2,470	12	61	9	2,450	3	$22
26-Oct-19	12	$5,560	14	70	11	$3,860	1	$1,700
19-Oct-19	8	$6,600	8	138	8	$6,600	0	0
12-Oct-19	19	$4,300	14	55	16	$3,800	3	$500
5-Oct-19	18	$14,500	19	166	15	$11,100	3	$3,400
28-Sep-19	19	$8,100	18	132	18	$7,560	1	$550
21-Sep-19	14	$6,300	16	66	11	$2,160	3	$4,170
14-Sep-19	15	$23,800	12	56	11	$21,250	4	$2,570
7-Sep-19	17	$3,500	15	98	14	$1,900	3	$1,600
31-Aug-19	5	$8,700	6	50	5	$8,700	0	0
24-Aug-19	16	$10,000	14	82	15	$4,250	1	$5,750
16-Aug-19	10	$1,680	5	52	7	$650	3	$950
9-Aug-19	17	$17,700	15	68	14	$3,900	3	$13,800
2-Aug-19	13	$5,760	12	108	13	$5,760	NA	NA
27-Jul-19	11	$7,300	13	76	8	$6,570	3	$730
20-Jul-19	13	$11,800	13	125	11	$5,300	2	$6,500
13-Jul-19	10	$775	7	46	8	$542.50	2	$233
6-Jul-19	7	$2,500	9	85	7	$2,500	0	0
29-Jun-19	23	$8,290	15	154	17	$2,300	6	$5,970
22-Jun-19	17	$10,700	10	139	14	$7,700	3	$3,000
15-Jun-19	11	$13,500	14	160	11	$13,500	NA	NA
8-Jun-19	13	$2,870	17	55	11	$1,570	2	$1,300
1-Jun-19	10	$4,460	11	60	8	$4,140	2	$315
25-May-19	17	$4,360	14	79	14	$3,700	3	$612
18-May-19	22	$9,000	17	150	16	$3,400	6	$5,600
11-May-19	18	$19,800	17	177	15	$18,300	3	$1,500
4-May-19	10	$7,075	6	32	8	$6,900	2	$175
27-Apr-19	15	$3,200	14	117	14	$3,160	1	$40
20-Apr-19	13	$13,500	10	90	9	$12,200	4	$1,300
13-Apr-19	16	$38,900	14	91	14	$37,800	2	$1,100
6-Apr-19	12	$6,870	11	94	10	$6,730	2	$50
30-Mar-19	15	$6,470	12	84	10	$7,91.5	5	$5,677
23-Mar-19	18	$6,450	14	91	14	$5,042	4	$1,408
16-Mar-19	14	$10,180	12	115	11	$8,800	3	$1,300
9-Mar-19	9	$1,800	6	49	8	$1,300	1	$500
2-Mar-19	20	$3,033	16	107	14	$1,817	6	$1,262
23-Feb-19	12	$2,040	8	69	9	$614.60	3	$1,430
16-Feb-19	16	$9,970	18	77	16	$9,970	0	0
9-Feb-19	14	$6,400	10	110	14	$6,400	0	0
2-Feb-19	18	$6,740	15	99	16	$5,720	2	$950
26-Jan-19	13	$2,770	11	67	11	$918.95	2	$1,850
19-Jan-19	15	$3,819	16	76	12	$2,594	3	$1,225
12-Jan-19	18	$7,283	14	92	15	$1,683	3	$5,600
5-Jan-19	10	$529	12	50	10	$529	0	0
22-Dec-18	17	$2,570	13	87	14	$941	3	$1,629
15-Dec-18	10	$2,860	8	26	8	$264	2	$2,600
8-Dec-18	15	$1,819	16	65	12	$552	3	$1,267
1-Dec-18	12	$7,500	10	90	9	$1,200	3	$6,200
28-Nov-18	15	$4,500	11	107	14	$4,000	1	$500
19-Nov-18	18	$6,137	13	98	13	$2,142	5	$3,995
14-Nov-18	18	$9,200	13	152	15	$8,500	3	$694
6-Nov-18	16	$17,300	16	183	14	$16,361	2	$950
29-Oct-18	14	$14,400	18	127	17	$13,800	1	$600
24-Oct-18	13	$6,140	13	126	11	$5,122	2	$1,018
17-Oct-18	18	$18,390	15	125	14	$12,292	4	$6,098
10-Oct-18	29	$3,149	18	104	20	$1,647	9	$819
2-Oct-18	18	$9,300	11	67	14	$7,300	4	$2,000
25-Sep-18	13	$7,000	11	75	10	$6,000	3	$995
18-Sep-18	9	$3,570	7	44	9	$3,570	0	0
11-Sep-18	13	$5,900	10	132	13	$5,900	0	0
7-Sep-18	14	$5,000	15	86	11	$4,000	3	$1,000
29-Aug-18	15	$20,700	14	79	13	$4,700	2	$16,000
20-Aug-18	10	$12,400	11	53	8	$11,380	3	$1,057
14-Aug-18	12	$19,900	12	132	9	$18,889	3	$1,011
7-Aug-18	16	$68,600	11	106	13	$67,259	3	$1,340
31-Jul-18	15	$15,100	15	95	11	$13,060	4	$2,060
23-Jul-18	13	$2,130	15	60	10	$1,804	3	$1,100
17-Jul-18	14	$5,370	17	98	9	$4,310	5	$1,100
9-Jul-18	16	$11,200	15	74	10	$11,080	6	$862
3-Jul-18	13	$7,000	7	81	12	$6,330	1	$750
25-Jun-18	15	$8,800	13	97	9	$4,970	6	$3,930
18-Jun-18	13	$14,200	14	80	7	$221	6	$14,290
11-Jun-18	12	$6,300	8	96	8	$5,910	4	$803
6-Jun-18	13	$14,500	10	88	8	$14,154	5	$579
31-May-18	11	$4,890	10	63	8	$3,240	3	$1,790
22-May-18	15	$20,400	11	63	9	$19,808	6	$885
15-May-18	15	$4,700	15	106	10	$3,900	5	$643
9-May-18	11	$1,400	13	88	9	$1,300	2	$560
1-May-18	8	$14,250	7	88	7	$13,400	1	$450
24-Apr-18	12	$5,300	6	61	11	$4,470	1	$800
17-Apr-18	9	$1,800	10	44	7	$2,330	2	$1,434
11-Apr-18	11	$2,500	8	32	6	$1,690	5	$809
3-Apr-18	15	$13,400	11	121	9	$12,020	6	$1,090
28-Mar-18	10	$4,000	10	92	7	$3,870	3	$215
19-Mar-18	17	$5,800	13	51	10	$590	7	$5,165
12-Mar-18	15	$3,130	11	43	11	$2,360	4	$788
6-Mar-18	19	$5,400	13	116	10	$1,530	9	$4,860
27-Feb-18	20	$6,600	13	69	14	$5,530	6	$1,030
19-Feb-18	15	$5,500	14	111	10	$3,990	6	$1,980
12-Feb-18	23	$10,900	17	157	12	$7,110	11	$3,840
5-Feb-18	16	$8,600	13	100	7	$1,330	9	$7,800
30-Jan-18	11	$12,600	11	68	5	$7,300	6	$4,982
24-Jan-18	19	$9,400	15	129	5	$2,010	14	$7,337
18-Jan-18	10	$6,280	8	49	2	$2,100	8	$4,188
9-Jan-18	12	$16,500	12	92	9	$15,890	3	$475
3-Jan-18	10	$2,500	9	47	8	$2,350	2	$150
27-Dec-17	15	$9,000	15	113	9	$7,568	6	$1,784
18-Dec-17	15	$13,800	16	164	9	$13,010	7	$1,118
11-Dec-17	14	$9,700	10	126	12	$2,940	4	$8,500
4-Dec-17	6	$1,800	6	31	5	$1,510	1	$300
28-Nov-17	7	$3,850	8	76	4	$3,260	3	$285
16-Nov-17	10	$2,700	10	48	6	$1,840	4	$856
8-Nov-17	15	$2,380	17	91	10	$1,860	5	$516
1-Nov-17	12	$4,700	17	94	9	$3,400	4	$1,300
23-Oct-17	15	$10,500	10	67	10	$9,780	4	$1,530
18-Oct-17	6	$2,000		37	3	$225	3	$1,820
10-Oct-17	12	$6,570		100	9	$3,880	3	$3,360
2-Oct-17	8	$3,100	11	19	3	$1,630	5	$1,750
25-Sep-17	8	$4,880	8	79	5	$2,660	5	$2,070
18-Sep-17	9	$4,770			3	$300	6	$4,470
12-Sep-17	11	$4,430			8	$2,030	3	$2,400
1-Sep-17	4	$1,310			3	$317	1	$1,000
23-Aug-17	11	$13,640	9		8	$11,840	3	$1,800

M&A/FUNDINGS

Rêv Partners joins Searchlight to buy Netspend for $1B

Deal Description: Rêv Worldwide Inc., an international fintech company, and Global Payments, a provider of payment technology and software solutions, announced Aug. 1 that Rêv, in partnership with funds advised by Searchlight Capital Partners, agreed to acquire the Netspend consumer business from Global Payments in an all cash transaction valued at $1 billion. The acquisition brings back Netspend’s founders, Roy and Bertrand Sosa, who also founded Rêv. The release said the Sosa brothers look to leverage the assets of the two entities to build a global, high growth company that delivers on a mission of financial empowerment and product innovation.

Expected Closing: Q1 2023

Rêv’s Financial Advisors: Jefferies and Nomura Securities International Inc.

Searchlight’s Outside Counsel: Paul, Weiss, Rifkind, Wharton & Garrison

Rêv’s Outside Counsel: Gunderson Dettmer led in part by corporate partner Wes Watts in Austin. The Texas team included M&A associates Monica Dion, corporate associate Luke Thomas and tech/IP associates Ben Cukerbaum and Sean Patrick McGinley in Austin.

Global Payments’ Financial Advisor: Evercore

Global Payments’ Outside Counsel: Wachtell, Lipton, Rosen & Katz

APA buys West Texas oil producing properties for $505M

Deal Description: Houston-based oil and gas producer APA Corp. announced Aug. 3 as part of its second quarter earnings release that it bought West Texas properties for a purchase price of $505 million. The seller was NGP-backed Titus Oil & Gas of Fort Worth, Reuters reported. The transaction closed on July 29 for a total cost of $555 million after including post-effective date adjustments to date. The deal expands APA’s position in the Delaware part of the Permian shale basin.

APA’s In-House Counsel: Senior Counsel Jay Schultz

APA’s Outside Counsel: Akin Gump led by David Sweeney in Houston and including partners Stephen Boone and Alison Chen and associate Madeline Sullivan

Seller’s Outside Counsel: Bracewell led by partner Molly E. Butkus (Houston) and including, from Texas, partners Charles Still Jr., Timothy Wilkins, Andrew W. Zeve, Rebecca L. Baker and Matthew B. Grunert; counsel Leslie Hansen; and associates John Stavinoha, Jay Harper, Kate Barrington McGregor, William Moss and Shannon Baldwin

Brookfield sinks $500M into California Resources carbon JV

Deal Description: California Resources Corp., an independent oil and natural gas company, announced Aug. 3 the formation of a joint venture with Brookfield Renewable, creating a partnership focused on carbon capture and sequestration development. Brookfield Renewable committed an initial $500 million to invest in projects that are jointly approved through the JV. The investment will be allocated through the Brookfield Global Transition Fund, which claims to be the world’s largest fund dedicated to facilitating the global transition to a net zero carbon economy.

Brookfield’s Outside Counsel: Latham & Watkins led by Washington, D.C./Houston partner Ethan Schultz and Houston associates Ashley Nguyen, Denny Lee, Joshua Blankenship and Vera Bespalova along with Houston partner Jonathan Castelan and associate Sam Bentley. 

Energy Transfer buys Woodford Express for $485M

Deal Description: Energy Transfer announced as part of its second quarter earnings Aug. 3 that it agreed to acquire Quantum Energy Partners-backed Woodford Express, a Mid-Continent gas gathering and processing system, for $485 million. The system, which is located in the heart of the Scoop play, has 200 miles of gathering and transportation lines, which are connected to Energy Transfer’s pipeline network. The system is supported by dedicated acreage with long-term, predominantly fixed-fee contracts with active, proven producers. The deal is expected to be immediately accretive to distributable cash flow.

Expected Closing: Q3 2022 if it clears regulatory review

Quantum’s Outside Counsel: Vinson & Elkins led by partner Matt Falcone, senior associate Alex Robertson and associate Charlie Fitzpatrick with assistance from associates Zach Parker and Hunter Albritton. Also advising were Texas partner John Lynch and associate Keleigh Carver (tax); counsel Rajesh Patel and associate Alexa Chally (technology transactions/IP); partner Sean Becker and associate Peter Goetschel (labor/employment); partner Shane Tucker and associate Matt Green (executive compensation/benefits); partner Suzanne Clevenger and senior associate Mike Malenfant (energy regulation); partner Prentiss Cutshaw and counsel Scot Dixon (real estate); and partner Matt Dobbins and senior associate Rachel Comeskey (environmental). Partner Darren Tucker, counsel David Smith and associate Ryan Will assisted on antitrust from Washington, D.C.

Bridger Aerospace merges with SPAC Jack Creek in $345M transaction

Deal Description: Bridger Aerospace Group Holdings, an independent provider of aerial firefighting services, announced Aug. 4 it is merging with Jack Creek Investment Corp., a special purpose acquisition company. Bridger is focused on addressing the year-round threat of economic and environmental damage caused by wildfires. The combined company will be named Bridger Aerospace Group Holdings Inc. and is expected to list on the NASDAQ Capital Market under the ticker symbol “BAER.” The business combination values Bridger at an implied $869 million pro forma enterprise value. the deal is expected to infuse up to $345 million of cash to Bridger’s balance sheet, assuming no redemptions by Jack Creek’s public shareholders and before payment of transaction expenses. There will be no minimum cash requirement or PIPE needed to close. Blackstone Tactical Opportunities, an early Bridger investor, will keep its equity stake and will hold two seats on the company’s board.

Bridger’s Outside Counsel: Sidley Austin led outside of Texas but including Heather M. Palmer, environmental partner in Houston, and Bart J. Biggers, transportation partner in Dallas

Jack Creek’s Outside Counsel: Weil, Gotshal & Manges

Plastiq Inc. merges with SPAC Colonnade II in $320M deal

Deal Description: B2B payment platform Plastiq Inc. and Colonnade Acquisition Corp. II, a publicly traded special purpose acquisition company, announced Aug. 4 that they entered into a definitive agreement and plan of merger. The combined company will continue as a publicly-listed entity and have an implied estimated enterprise value of $480 million at closing. Plastiq is expected to add $320 million to its balance sheet assuming no redemptions and after payment of estimated transaction expenses, offering capital flexibility for continued organic and inorganic growth.

Plastiq’s Outside Counsel: Latham & Watkins led in part by Houston partner Ryan Maierson

Colonnade’s Outside Counsel: White & Case 

Marti merges with SPAC Galata in $147M transaction

Deal Description: Galata Acquisition Corp., a Washington. D.C.-based special purpose acquisition company led by Callaway Capital, announced Aug. 1 the execution of a definitive business combination agreement with Marti Technologies Inc., Turkey’s leading mobility provider. The combined company will receive up to $147 million held in Galata’s trust account at closing subject to any redemptions by existing Galata shareholders. Upon completion, the company will continue to be named Marti Technologies Inc. and Marti’s ordinary shares are expected to trade on the New York Stock Exchange under the ticker symbol MRT. The combined company will be led by Alper Oktem, Marti’s founder and CEO. Founded in 2018, Marti operates a fleet of over 46,000 e-mopeds, e-bikes and e-scooters serviced by proprietary software systems and IoT infrastructure. The transaction will give Marti resources to strengthen its market-leading position in Turkey by adding vehicles across existing and new modalities.

Marti’s Outside Counsel: Latham & Watkins with a corporate deal team led in part by Houston partner Ryan Maierson. Part of the team included Houston partner Catherine Ozdogan with Houston associate Kirby Swartz on finance matters.

Marti’s Investor Relations Advisor: MZ Group

Galata’s Capital Markets Advisor/Placement Agent: B. Riley Securities

Galata’s Outside Counsel: Willkie Farr & Gallagher led out of New York

B. Riley Securities’ Outside Counsel: White & Case

Upland gets $115M investment From HGGC

Deal Description: Upland Software Inc. announced July 14 a $115 million strategic equity investment from HGGC, a private equity firm with over $6.8 billion of capital commitments. Upland said the HGGC investment, in the form of a new class of convertible preferred stock issued at a premium to Upland’s current market price, provides more capital intended to capture attractive M&A opportunities that are expected to emerge as a result of the current macroeconomic environment. It also brings additional strategic and operational support as HGGC and Upland work together to strengthen the company’s go-to-market capability to fully leverage the value of its enterprise customer base and product portfolio.

Upland’s Outside Counsel: Morrison Foerster including Steve Tyndall and John Hensley in Austin

HGGC’s Outside Counsel: Kirkland & Ellis co-led by New York partners David B. Feirstein and Marshall Shaffer along with capital markets partners Jennifer Wu in Austin and Bryan Flannery and associates Samantha Siegler and Aburiyeba Amaso

Augment Infrastructure, IFU invest $85M in Origo Energia of Brazil

Deal Description: Augment Infrastructure and the Danish Investment Fund for Developing Countries (IFU) announced Aug. 1 an equity investment of $85 million in Origo Energia, a distributed generation company in Brazil. Origo Energia owns solar farms across Brazil and serves residential customers and small and medium enterprises under Brazil’s Distributed Generation Law of 2022. Origo Energia’s shareholders include TPG ART-Circularis, MOV Investimentos and Mitsui. Origo Energia is operating 150 megawatt of renewable energy and provides electricity for 50,000 customers. The company plans to use the proceeds to expand its solar generation assets within the next 12 to 18 months. 

Augment’s Outside Counsel: Kirkland & Ellis led by corporate partner Cyril Jones and associate Hunter Richey in Houston, investment funds partners Matt Nadworny of Houston/Dallas and other attorneys in Boston and Washington, D.C.

Arcosa acquires Recycled Aggregate Materials for $75M

Deal Description: Dallas-based Arcosa Inc. announced Aug. 3 that it acquired third generation family-owned Recycled Aggregate Materials Co. Inc. on May 23 for $75 million. based in Simi Valley, Calif., Ramco is an independent producer of recycled aggregates serving the greater Los Angeles metro area from four locations. Ramco accepts concrete, asphalt and sand at its locations for a fee and then recycles and sells the recycled aggregate products to a variety of customers serving construction and infrastructure applications. Ramco had trailing 12 month adjusted EBITDA of $9.6 million as of February 28, implying a 7.8x EBITDA multiple.

Arcosa’s Outside Counsel: Kirkland & Ellis led by a Texas team that included corporate partner Kevin Crews and associates Nick Lewis and Chris Boggs; tax partner David Wheat and associate Rebecca Fine; environmental transactions partner Jon Kidwell and associate Courtney Tibbetts; and executive compensation partner Rob Fowler and associate Joe Denker

Tailwater-backed Freestone invests in Elemental Recycling

Deal Description: Freestone Holdco, a portfolio company of Dallas-based Tailwater Capital, announced Aug. 2 that it signed definitive agreements to make an investment in Elemental Recycling, a Houston-based company that has developed a process to convert plastic and other organic waste material into graphite and hydrogen. Terms were not disclosed. Founded in 2019, Elemental has proven its technology at its pilot facility and Freestone’s investment will be used to fund the company’s first commercial recycling plant. This first commercial facility will be located in Houston and is expected to be operational by mid-2023.

Freestone’s Outside Counsel: Latham & Watkins led by Austin partners Mollie Duckworth and Scott Craig and including associates Jase Burner and Soheil Ebadat

Nickel Road sells assets in the DJ Basin to Bayswater

Deal Description: Nickel Road Operating, which is backed by Fort Worth-based Vortus Investment Advisors, announced July 28 that it has divested a portion of its assets in the Denver-Julesberg Basin to Bayswater Exploration and Production. Terms were not disclosed. The assets are next to Bayswater’s holdings in Weld County and included 2,752 net leasehold acres, 161 mineral acres, 17 producing wells (5 operated, 12 non-operated), working interests in 18 DUCs and 68 operated well permits. After this divestiture, Denver-based Nickel Road said it will keep the majority of its production and operated drilling and spacing units in the Wattenberg Field as well as 100 approved permits for extended reach horizontal wells.

Nickel Road’s Financial Advisor: Evercore

Nickel Road’s Outside Counsel: Shearman & Sterling and Dickie McCamey. From Shearman: The leads were partners Sarah McLean in Austin and Todd Lowther in Houston aided by associates Andrew Heather, Ira Aghai and Rali Tiu.

Barri Financial merges with DolEx Dollar Express

Deal Description: DolEx Dollar Express Inc. and Barri Financial Group announced Aug. 1 that they agreed to merge to create a top consumer financial services company. Terms weren’t disclosed. The transaction is expected to close later this year if it clears regulators. The combination will offer money transfer, check cashing and other ancillary products to customers at thousands of retail locations across the U.S. The two are planning an expansion of consumer acquisition channels and geographic footprint. The company will be headquartered in Houston, maintaining operating offices in Arlington, Mexico and Spain, and will be led by chairman Mario Trujillo (from DolEx), CEO Alberto Laureano (Barri), CFO Alejandro Csitkovits (Barri) and COO Laybaa Hernandez (DolEx).

Barri’s Financial Advisor: Jefferies

Barri’s Outside Counsel: Vinson & Elkins led by partner Creighton Smith and associate Bobbi Worbington with assistance from associates Carli Gish, Melissa Sanchez and Brandon Brunet. Also advising were partner David Peck, counsel Allyson Seger and associate Olivia Sher (tax); partner Darin Schultz and senior associate Alexander Kamel (finance); partner Sarah Mitchell (insurance); partner Sean Becker (employment/labor); partner Shane Tucker (executive compensation/benefits); associate Ricky Legg (technology transactions/IP); and partner Randy Jurgensmeyer (real estate). Non-Texas lawyers assisting on litigation were partners Hill Wellford, Fry Wernick and Rick Sofield, counsel David Smith and Elizabeth McIntyre, senior associate Brian Howard and associates Alison Harmes and Pete Thomas.

DolEx’s Outside Counsel: Goodwin Procter

Notes: In 2020 Palladium Equity Partners sold DolEx to a group of investors, including management, for undisclosed terms. Locke Lord counseled DolEx on that deal while Goodwin Procter advised the acquiring investors.

Owens Corning completes Natural Polymers acquisition

Deal Description: Owens Corning announced Aug. 1 it completed the acquisition of Natural Polymers, a manufacturer of spray polyurethane foam insulation for building and construction applications based in Cortland, Illinois. Terms weren’t disclosed. Owens Corning expects to expand the business in the coming years. Natural Polymers’ record of above-market growth is anticipated to contribute to Owens Corning’s strategy to strengthen building and construction products and expand the company’s addressable markets into higher-growth segments. Owens Corning claims Natural Polymers offers some of the lowest-volatile organic compound products available in the spray foam industry. Toledo, Ohio-based Owens Corning posted 2021 sales of $8.5 billion.

Natural Polymers’ Outside Counsel: Locke Lord led out of Chicago but the team also included environmental partner Ben Cowan in Houston and tax partner Geoffrey Polma in Dallas

Sapphire acquires Cleancor

Deal Description: Sapphire Gas Solutions, a Conroe-based natural gas solutions provider, announced Aug. 2 the acquisition of Cleancor Holdings from Seacor Holdings Inc. Terms weren’t disclosed. Cleancor is a California-based service provider of compressed natural gas, liquefied natural gas, renewable natural gas and hydrogen solutions for industrial, commercial, transportation and pipeline infrastructure customers across the U.S. The move expands Sapphire’s footprint into the western U.S., increases equipment fleet capacity and provides added service offerings, such as natural gas fueling for the transportation markets. Sapphire said the acquisition complements its strategy to provide CNG, LNG and RNG as a primary and often cleaner fuel source for many different end-users.

Sapphire’s Outside Counsel: Vinson & Elkins led by Abby Branigan, Dan Komarek and JP Lopez, with assistance from John Grand, Waid Barfield and Christina Wu.  Other team members included Jason McIntosh, Allyson Seger and Sarah McIntosh.

Deal Description: Investor research platform Tegus announced Aug. 2 that it acquired Canalyst, which offers 4,000 financial models and company benchmarking data. Tegus’ clients include 2,500 investment firms, corporations and consultancies, including Accel, Sands Investment Group and Redpoint Ventures. Tegus provides customers with 40,000 expert interviews, transcripts covering 22,000 public and private companies and workflows and tools to simplify aggregating and analyzing public financials and SEC filings and earning transcripts. Tegus also recently acquired BamSEC, giving users workflows to analyze core company filings and disclosures.

Tegus’ Outside Counsel: Latham & Watkins and Davies Ward Phillips & Vineberg. From LW: The team was co-led by Austin partner Jen Smith and included Houston finance partner Pamela Kellet and Austin associate Erin Cusenbary

Partners sells stake in Sentinel Energy Center

Deal Description: Partners Group announced Aug. 2 the sale of its co-control stake in Sentinel Energy Center, an 850 megawatt natural gas-fired peaking plant in California, on behalf of its clients. Terms weren’t disclosed. The buyers were Climate Adaptive Infrastructure and Meridian Clean Energy, which announced their strategic partnership Aug. 2 to buy the 25 percent stake. Partners claims the plant, with its eight 100 megawatt aero-derivative engine generators, is the largest of its kind in the world. It’s used to stabilize the grid in the Los Angeles Basin load center. Partners acquired the stake in 2015 and has since implemented several value creation initiatives, including advancing decarbonization using hydrogen technology and developing batteries on site. 

Partners’ Outside Counsel: Kirkland & Ellis led by corporate partners Bill Benitez and Allan Kirk and including associate Evan Chavez in Texas

CAPITAL MARKETS/FINANCINGS

Kinder Morgan closes $1.5B in senior notes offerings

Deal Description: On Aug. 3, Houston-based Kinder Morgan closed two offerings of senior unsecured notes for $1.5 billion. The two offerings included $750,000 in 4.8 percent notes due 2033 and $750,000 in 5.45 percent notes due 2052. Proceeds from the offering will be used for general corporate purposes, including commercial paper repayment and refinancing of upcoming maturities. BofA Securities, Citigroup, MUFG and RBC Capital Markets were active joint book-running managers. Fitch gave a BBB rating to the issues, noting both the stability of long term contracts common in midstream energy and Kinder Morgan’s prominent position in the national energy infrastructure, which includes about 50 percent of the service to increasingly important LNG facilities on the Gulf Coast.  “Energy security concerns and a move away from Russian natural gas is driving growth in natural gas needed for new LNG plants in the Gulf coast region,” Fitch said.

Kinder Morgan In-House Counsel: Assistant general counsel Angela Teer

Kinder Morgan Outside Counsel: Bracewell advised from Houston with partners Troy Harder, Will Anderson and Don Lonczak along with associates Caroline Ellis and Alexandra Crai

Underwriters’ Counsel: Hunton Andrews Kurth led by Courtney Butler, Mike Hoffman, Erin Jennings, Robert McNamara, Mike O’Leary, Shemin Proctor, Casey Shaw, Lisa Shelton, Tim Strother and Lexi Williams and including Rob Taylor and Henry Havre

Spotless Brands lines up $958M credit facility

Deal Description: Winston & Strawn said Aug. 2 it represented Spotless Brands in connection with an upsize credit facility of $958 million. The deal was announced July 26. A portfolio company of Baltimore-based private equity firm Access Holdings, Spotless owns 125 car wash sites across the U.S. operating under four brands: Cobblestone Auto Spa, Flagship Carwash, Okie Express Auto Wash and Ultimate Shine Car Wash.

Administrative Agent/Joint Lead Arranger: Carlyle’s Global Credit platform, which managed $141 billion in assets as of April 1

Winston Team: Led by partner Jeff Cole and associate Alexander Volsky and including partner Andrew Betaque and associates Collin Groebe, Danielle Marr, Miles McDougal and Cem Uyar, all of Dallas

Petrobras completes $790.9M in cash tender offers

Deal Description: Shearman & Sterling said Aug. 2 that it represented the dealer managers in connection with the cash tender offers by Petróleo Brasileiro, or Petrobras, acting through its Dutch finance unit Petrobras Global Finance, for 20 series of its global notes denominated in U.S. dollars, euros and pounds with varying interest rates and maturities divided in two tender groups. The amount totaled $790.9 million. The tender offers launched on July 6, expired on July 12 and settled on July 15. The dealer managers were BofA Securities Inc., Banco Bradesco BBI, Credit Agricole Securities (USA) Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities and SMBC Nikko Securities America Inc. Petrobras is one of the world’s largest integrated oil and gas companies.

Shearman Team: Led by São Paulo capital markets partner Roberta B. Cherman but Houston capital partner Bill Nelson also weighed in

Waste Connections issues $750M in senior notes

Deal Description: Toronto-based Waste Connections Inc. announced Aug. 4 that it priced an underwritten public offering of $750 million of its 4.200 percent senior notes due 2033 at a price to the public of 99.728% of their face value. The offering is expected to close on Aug. 18 subject to customary closing conditions. Net proceeds to Waste Connections are expected to be about $741 million net and are to be used to repay a portion of the borrowings outstanding under its revolving credit facility.

Waste Connections Outside Counsel: Latham & Watkins advised Waste Connections with a corporate deal team led by Houston partners John Greer and Ryan Lynch with Houston associates Om Pandya, Anthony Tan, Carlyle Reid and Brian Bruzzo. Advice was provided on finance matters by Houston partners Matt Jones and Craig Kornreich with Houston associates Max Fin and Michael Basist; on tax matters by New York partners Jocelyn Noll and Bora Bozkurt with London associate Ted Gkoo; on environmental matters by Los Angeles counsel Aron Potash with Los Angeles associate Nick Eberhart; and on benefits and compensation matters by Washington, D.C., partner Adam Kestenbaum.

NetSTREIT offers $188M in common stock

Deal Description: In a deal scheduled to close Aug. 8, NetSTREIT announced that priced 9 million shares of its common stock in a forward sale to affiliates of Bank of America and Wells Fargo at $20.20 per share. NetSTREIT, a real estate investment trust that specializes in single-tenant commercial properties, plans to issue the common shares to its operating partnership in exchange for Class A units in the partnership.

Underwriters: Wells Fargo Securities, BofA Securities and Jefferies are book-running managers and representatives of the underwriters and Citigroup and Stifel are joint book-running managers. Baird, BTIG, Scotiabank, Capital One Securities, Regions Securities LLC, Berenberg, TD Securities, Advisory, Ramirez & Co. Inc. and Roberts & Ryan are acting as co-managers for the offering.

Underwriters’ Counsel: Vinson & Elkins advised the underwriters with a team led by partners Daniel LeBey and Chris Green with assistance from senior associate Caroline Bailey and associates Bekah Briggs and Ashton Harris. Other key team members included partners Chris Mangin and Paige Anderson and associates Maddie Brown and Tyler Underwood (tax).

Berkshire Hills Bancorp raises $100M in its first sustainability bond

Deal Description: Hunton Andrews Kurth said Aug. 3 that it advised underwriter PNC Capital Markets on the public offering and sale by Boston-based Berkshire Hills Bancorp Inc. of its inaugural sustainability bond. The other underwriter was Keefe, Bruyette & Woods Inc. The offering amounted to $100 million of its 5.50 percent fixed-to-floating rate subordinated notes due 2032. The deal closed June 30. The notes were sold at par, resulting in $98.3 million in net proceeds, after underwriting discount and estimated offering expenses. The company intends to use an amount equal to the net proceeds to finance or refinance new or existing social and environmental projects consistent with its sustainable financing framework. Berkshire is the first public U.S. community bank holding company with under $150 billion in assets to issue a sustainability bond.

Berkshire Hills’ Outside Counsel: Luse Gorman

HAK Team Members from Texas: Co-led by partner Beth Whitaker in Dallas and including Scott Austin, Inara Bandali and Carleton Goss in Dallas, Henry Havre in Houston and Alexander McGeoch and Peter Weinstock in Dallas

Lexicon prices $85M public offering, concurrent private placement

Deal Description: Lexicon Pharmaceuticals Inc. announced July 28 the pricing of its previously announced underwritten public offering of 16.8 million shares of its common stock. The shares are being offered at a public offering price of $2.50 per share and all by Lexicon. The gross proceeds from the public offering are expected to be $42.1 million. Lexicon granted the underwriters a 30-day option to purchase up to an additional 2.5 million shares of common at the public offering price, less underwriting discounts and commissions. The offering was expected to close by Aug. 1. Lexicon intends to use the net proceeds and the $42.9 million concurrent private placement with Invus, Lexicon’s largest stockholder, along with its cash and cash equivalents and short-term investments, for the following: funding pre-commercial and commercial launch activities for sotagliflozin in heart failure, funding continued development of sotagliflozin in heart failure and LX9211 in neuropathic pain and for working capital and other corporate purposes.

Book-Running Managers: Citigroup and Piper Sandler

Lexicon’s Outside Counsel: Vinson & Elkins led by partner Dave Oelman in Houston with assistance from counsel Zach Swartz in Richmond, Va., and associates Shane Copelin, Nina Bhatia and Jake Lubenow, all of Houston