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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: 17 Deals, 10 Firms, 156 Lawyers, $10.4B

May 11, 2021 Anna Butler

Special purpose acquisition companies are identifying targets and completing reverse mergers faster with the increasing presence of concurrent private investment in public equity financing, according to a second quarter analyst update from PitchBook.

As of April 15, 39 SPACs closed on targets this year representing about $50 billion of value that is now public. In examining the space over the past year, PitchBook noted SPACs have become more aggressive in identifying targets with the median time between SPAC IPO and reverse merger falling from one year and five months to about seven-and-a-half months year-over-year.

PitchBook analysts predicted that the timeline could slow once again – and that’s likely a matter of desirable targets.

While some financial and legal counsel based in Texas question the number of available public-ready targets for SPAC transactions – in the same vein as PitchBook’s hesitancy – others believe that it’s more a question of the industry in addition to the willingness of SPACs to get their heads around inflated valuations. 

Financial and legal counsel have seen the institutional investors backing PIPEs as the most likely sheriffs in de-SPAC transactions, spiking merger opportunities with increasingly swollen valuations tied to aggressive and even seemingly aspirational EBITDA projections.

The PIPE voice has become more and more important as the financing tool has become increasingly commonplace in 2021. PitchBook reported more than 60% deSPACs included concurrent PIPE financing, over 10% higher than the 2020 figure. And the size of PIPEs is up more than 25.6% so far for the year.

This past week saw three SPAC mergers with ties to Texas counsel.

For the week, there were 15 M&A and funding transactions valued at $8.386 billion and two capital markets transactions valued at $2.1 billion, featuring 10 firms and 156 lawyers.

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
14-Jun-20259$4788133603$478
07-Jun-202516$26,2101119611$24,7445$1,466
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

The previous week’s Corporate Deal Tracker accounted for 21 transactions that tallied up to $7.2 billion with 16 firms and 115 lawyers.

The same week last year saw more transactions with 18, though the deal values capped at $3.18 billion in M&A and funding deals and $2.45 billion in capital markets transactions.

Note: Texas Lawbook corporate transactions editor Claire Poole contributed to this article.

M&A/FUNDING

EQT buys assets of Alta Resources for $2.9B

EQT Corp., the country’s largest gas producer, announced plans last week to purchase the assets of the upstream and midstream subsidiaries of Houston-based Alta Resources. 

EQT will pick up the assets – 300,000 acres in the Marcellus Shale – for $2.925 billion in cash and common stock.

Deputy general counsel Ashley Yates and general counsel Will Jordan led the deal in-house at EQT.

The Pittsburgh company turned to Latham & Watkins for legal counsel and BofA Securities for financial counsel.

Brad Hutchinson led the BofA team, while Houston corporate partners Chris Bennett and John Greer led the deal for Latham along with associates Greg Sorensen, Rebecca Kendall and Erin Lee and partner Jeff Muñoz, all of Houston. 

Latham partner Jim Cole and associate Emily Fawcett, both of Houston, provided counsel on tax matters; Washington, D.C., partner Adam Kestenbaum advised on employee benefits matters by; Washington, D.C., counsel Peter Todaro worked on antitrust matters; and partner Drew Levin and associate Harrison White, both of Los Angeles, counseled on insurance matters.

Citi Global Markets Inc. – with a team that included Chris Miller, Claudio Sauer and James Jackson – advised on financial matters and Kirkland & Ellis acted as legal advisor to Alta. 

Leading the Kirkland team were corporate partners Andy Calder of Houston, John Pitts of Houston and Melissa Kalka of Dallas and associates Paul Knowlton of Houston, Michael Bassi of Houston, Tess Dennis of Dallas and Austin Johnson with contributions by real asset partners Anthony Speier and Chad Smith and associates Lindsey Jaquillard and Isaac Bate, all of Houston.

Also weighing in on the deal were capital markets partner Julian Seiguer and Ieuan Adrian List, both of Houston; debt finance partners Lucas Spivey and Jordan Roberts, also both of Houston, and associate Layton Bell of Dallas; tax partner David Wheat of Houston and Dallas and associate Joe Tobias of Houston; environmental transactions partner Stefanie Gitler of Washington, D.C., and Houston and James Dolphin of Houston; and derivatives partner Drue Santora of New York.

Additional team members were executive compensation partner Rob Fowler of Houston and associate Katherine Baker of New York; labor & employment partner R.D. Kohut and associates Jaclyn Schruhl and Colleen Angus-Yamada, all of New York; employee benefits partner Maureen O’Brien and of counsel Patrick Ryan, both of Chicago; energy regulatory partner Brooksany Barrowes of Washington, D.C., and associate Cassidy Hall of Dallas; and antitrust & competition partner Marin Boney and of counsel Ellen Jakovic, both of Washington, D.C.

General counsel Lauren Ford led the transaction internally at Alta.

For more details on the transaction, click here.

At Home to Go Private in Deal With Hellman & Friedman

At Home Group announced May 6 that funds affiliated with Hellman & Friedman plan to purchase the home decor company in a take-private deal. 

H&F will pay $36 per share to At Home stockholders in the transaction that is expected to close in the third-quarter, pending closing and regulatory conditions and the resolution of a go-shop option. The all-cash buyout values the Plano-based retailer at about $2.8 billion, including the assumption of debt.

For At Home, a special committee from its board headed by independent director Phil Francis spearheaded the acquisition process. The special committee tapped Vanya Kasanof and David Friedland of Goldman Sachs & Co. as exclusive financial advisor to the special committee. Fried, Frank, Harris, Shriver & Jacobson served as legal counsel. 

Fried Frank corporate partners Warren S. de Wied and Steven J. Steinman, both of New York, co-led the transaction, along with corporate partner Erica Jaffe of New York and corporate associates Alexander G. Feldsott of New York and Scott R. French and P. Ryan Messier of Washington, D.C.

Mary Jane Broussard, chief administrative officer, general counsel and corporate secretary, led the agreement and plan of merger in-house for At Home.

H&F selected Guggenheim Securities as financial advisor and Simpson Thacher & Bartlett as legal counsel.

The Simpson Thacher team included M&A partners Katie Sudol and Kathy Krause; financing partners Brian Steinhardt and Bill Brentani; executive compensation and benefits partner David Rubinsky; and tax partner Russell Light. All lawyers aside from Brentani of Palo Alto are based in New York.

Click here to read more about the deal.

EnCap Forms $1.2B Energy Transition Fund

Energy growth capital firm EnCap announced it closed its inaugural energy transition fund with $1.2 billion in committed funds.  

EnCap Energy Transition Fund I, which will focus on low-carbon opportunities as the name suggests, received backing from corporate and government-sponsored pension funds, sovereign wealth funds, family offices, endowments, foundations and high-net-worth individuals. 

EnCap already deployed capital from the fund to five investment platforms across the battery storage, distributed and utility-scale solar and wind sectors: Broad Reach Power, Catalyze, Jupiter Power, SolarProponent and Triple Oak Power.

Vinson & Elkins provided legal counsel to EnCap with a corporate team led by New York partner Robert Seber with Dallas senior associate Carson Dimick and associates Daryne Foote, Elizabeth Janicki and Blair Hendrix, all of Dallas. 

The tax team was led by partner David Peck, senior associate Megan James and associate Lauren Meyers, all of Dallas. Also advising were Houston partners Ramey Layne and Matt Strock and Austin associates Kelly King and Miles Fortenberry; Dallas partner Wendy Salinas, counsel Mary Alexander and Debbie Duncan, both of Washington, D.C., and Dallas associate David Gilbert; and Dallas partners Brian Bloom and Shane Tucker and Houston senior associate Kristy Fields.

Diamondback to Sell Assets From QEP Exchange to Oasis

Midland-based Diamondback Energy plans to divest 95,000 acres in the Williston Basin that it picked up with its acquisition of QEP Resources that closed March 17.

Oasis Petroleum North America, based in Houston, entered into a definitive agreement to purchase the assets for $745 million to add further scale in the Bakken Shale. Oasis already has more than 400,000 net acres in the Williston Basin.

Latham & Watkins advised Diamondback with a corporate deal team led by Houston partners Stephen Szalkowski and Mike King with associates Mike Sellner, Tom Hillebrand, Corey Allen, Luke Strother and Matt Cannon and assistance from Houston partner John Greer. 

Houston partner Jim Cole and associate Marianne Standley advised on tax matters; Washington, D.C., partner Adam Kestenbaum and associate Kirk Porter advised on benefits and compensation; Houston partner Catherine Ozdogan and associate Brian Flynn advised on finance matters; and Washington, D.C., partner Jason Cruise and counsel Sydney Smith advised on antitrust matters.

McDermott Will & Emery counseled Oasis on legal matters with a team led by Houston partners Jack Langlois and Jibin Luke along with associates Sarah Nabors of Houston and Alexander Farr of Dallas; Washington, D.C., partners Lesli Esposito and Brian Boyle; New York partners Jacob Hollinger, Andrew Kratenstein and Daniel Doron; and Dallas partner Allison Wilkerson. 

Diamondback relied on Goldman Sachs & Co. to advice it on financial dealings while Oasis opted for J.P. Morgan Securities.

To fund the acquisition, Oasis plans to rely on cash on-hand, revolver borrowings and a fully committed underwritten $500 million bridge loan from J.P. Morgan and Wells Fargo.  

Oasis selected Vinson & Elkins and Kirkland & Ellis to advise on legal matters pertaining to the financing with Wells Fargo acting as administrative agent of the credit facility.

The Kirkland team included Dallas partner Kimberly Perdue, Houston associate Brandon Elliott, Dallas associate Cem Uyar and Houston associate Graham Owen.

Science 37 Gets Unicorn Valuation in Reverse Merger

Science 37 will merge with special purpose acquisition company LifeSci Acquisition II Corp., the entities announced Friday in a deal that values the target at $1.05 billion.

Through a reverse merger agreement, the combined company will trade on the New York Stock Exchange. The transaction is expected to deliver about $280 million in gross proceeds, including $200 million in committed private investment in public equity funding and up to $80 million in cash from LifeSci’s trust account.

Science 37, a digital operating system that facilitates clinical trials, tapped Latham & Watkins and DLA Piper to advise on legal matters and Cowen and Perella Weinberg Partners to counsel on financial matters.

Houston M&A partners Ryan Maierson and Thomas Brandt and New York capital markets partner Erika Weinberg led the Latham team along with Houston associates Denny Lee, Kate Wang, Jacob Weiner and Carlyle Reid and New York associate Taylor Stevens. 

Advice was also provided on tax matters by Century City partner Pardis Zomorodi with Los Angeles associate Abigail Friedman; on benefits and compensation matters by Bay Area partner Julie Crisp, with Washington, D.C., associate Courtney Thomson; on intellectual property matters by Washington, D.C., counsel Kieran Dickinson with Bay Area associate Ryan Sanders; on healthcare and life sciences matters by Washington, D.C., partner Ben Haas with New York associate Lacey Henry; on data privacy matters by Washington, D.C., partner Jennifer Archie with Washington, D.C., associate Jimmy Smith; and on compliance matters by London partner Nathan Seltzer.

The PIPE backers include BlackRock, Lux Capital, Mubadala Investment, PPD and LifeSci Venture Partners, an affiliate of SPAC sponsor and boutique investment bank LifeSci Capital.

LifeSci Capital acted as lead book-running manager to LifeSci Acquisition II on its initial public offering that debuted in November and Cowen acted as placement agent for the PIPE funding.

Loeb & Loeb served as legal advisor to LifeSci Acquisition II with a team that included partners Ronelle Porter and Giovanni Caruso and associates John Stapleton, Jonathan Schwartz and Brian Hayes, partners Bill Voller and Marina Casani and associate Jeff Hamburg.

ESS Tech to Go Public in SPAC Merger with ACON S2

Special purpose acquisition company ACON S2 Acquisition Corp. plans to catapult the growth of ESS Tech through a merger that would take the combined company public on the New York Stock Exchange.

ESS Tech manufactures storage batteries that support renewables and stabilize the power grid.

Gross proceeds for the transaction include $215 million raised in ACON S2’s public offering and $250 million in private investment in a public entity funding. Backers of the PIPE include institutional investors such as Fidelity Management & Research Co. and Softbank subsidiary SB Energy Global Holdings.

ACON S2 selected Deutsche Bank Securities as capital markets advisor and placement agent along with Kirkland & Ellis as legal counsel.

The Kirkland team was led by corporate partners Shawn OHargan of New York, Doug Bacon and Anthony Speier of Houston, Houston associates Jennifer Gasser, R.J. Malenfant and Alia Heintz, Houston capital markets partner Matt Pacey and Dallas associate Logan Weissler.

Nomura Greentech will advise ESS on financial matters while Wilson Sonsini Goodrich & Rosati will advise the company on legal matters. 

Deutsche Bank Securities tapped Fried, Frank, Harris, Shriver & Jacobson to serve as its legal counsel as placement agent in the PIPE transaction.

Switch to Acquire Data Foundry for $420M

Tech infrastructure company Switch plans to acquire Austin-based Data Foundry for $420 million in cash..

The purchase of Data Foundry, a colocation provider with data centers in Austin and Houston, expands Las Vegas’ Switch footprint to 16 operational data centers. 

Switch will fund the transaction through a combination of cash on-hand, drawing on its $500 million revolving credit facility or new debt securities.

Switch selected Latham & Watkins to counsel on legal matters and Wells Fargo Securities on financial. 

Orange County partners Daniel Rees and Shayne Kennedy led the corporate transaction team for Latham with Orange County associate Paul Jeffrey and New York associate Adam Weber.

DH Capital advised Data Foundry on financial matters. 

Vinson & Elkins provided legal counsel to Data Foundry with a corporate team led by partners Gabriel Silva of New York and Paul Tobias of Austin with assistance from associates Kelly King, Christina Wu and Gabriela Astolphi of Austin and Isabella Correa of New York. 

Partner Chris Mangin of Washington, D.C., and senior associate Paige Anderson of Richmond advised on tax matters; senior associate Ben Cukerbaum of Austin advised on technology transactions and IP matters; Austin counsel Hal Taylor, Dallas senior associate Jared Knight and Dallas associate Mark Kramer advised on real estate matters; and partner Shane Tucker, senior associate Heather Johnson and associate Matt Green, all of Dallas, advised on executive compensation and benefits.

Also assisting were partner Hill Wellford and senior associate Evan Miller, both of Washington, D.C., on antitrust matters; Dallas counsel Sarah Mitchell on insurance matters; Austin senior associate Rachel Comeskey on environmental matters; and Houston senior associate Alex Bluebond on labor and employment matters.

The transaction is expected to close in mid-2021.

Navitas Semiconductors-Live Oak Fund II SPAC

Blank check company Live Oak Acquisition II plans to merge with Navitas Semiconductors. 

The transaction with Navitas, a company that specializes in ultra-fast, ultra-efficient gallium nitride semiconductors, raised $398 million in capital between Live Oak II’s $253 million initial public offering in November and $145 million in private investment in a public entity funding.

Live Oak II tapped Vinson & Elkins as legal advisor; BofA Securities as a financial advisor and a capital markets advisor; Nomura Greentech as a financial advisor; and Jefferies as a capital markets advisor.

Partners Sarah Morgan of Houston and John Kupiec of New York led the V&E team with senior associates Nettie Downs of Houston and Zach Swartz of Richmond and Houston associates Kathryn Hastings, Carmen Guidry and Nina Bhatia. 

Houston partners John Lynch and Ryan Carney and Dallas senior associate Megan James provided tax advice.

Navitas selected Deutsche Bank Securities and Jefferies as co-financial advisors and DLA Piper as legal counsel. Blue Shirt Capital Markets also advised the power chip maker.

For the PIPE, Jefferies and BofA Securities are acting as placement agents on the PIPE with Winston & Strawn advising on legal matters. 

The transaction, which puts a $1.04 billion enterprise value on Navitas, is expected to close in the third quarter.

Live Oak’s first SPAC merged with bioplastics company Danimer Scientific in December.

Middle Market Private Equity Firm Purchases Fluor’s AMECO Unit

Fluor first announced plans to sell its North American equipment and fleet services business, AMECO, in September 2019, and last week shared that middle market private equity firm One Equity Partners would pick up the unit for $73 million.

Fluor, a publicly traded engineering, procurement and construction services company based in Irving, tapped Baker Botts as legal counsel and BofA Securities as financial advisor. 

Dallas corporate partners Samantha Crispin and Preston Bernhisel, along with Jacqueline Scioli, Nic O’Brien and Victor Ochieng, led the transaction for Baker Botts.

Dallas partner Stephen Marcus and associate Snow Xue Rui advised on tax matters; New York partner Robin Melman and Houston associate Gabriela Alvarez advised on employee benefits; Dallas senior associate Elizabeth Rucki advised on intellectual property matters; and Austin partner Aileen Hooks advised on environmental matters.

OEP selected CMD Global Partners as financial advisor, KPMG as accounting and tax advisor, PNC Capital Markets as debt financing advisor and Baker McKenzie as legal advisor.

Private equity partner Airi Hammalov of New York with Chicago associates Josephine Bae and Nina Nolan led the transaction at Baker McKenzie along with New York acquisition finance associates Amit Parekh and Chen Tang; tax partners Steve Schneider of Washington, D.C., and Samuel Grilli of Chicago; benefits partner Chris Guldberg; and Chicago labor and employment partner Andrew Boling and associate Goli Rahimi.

Also assisting were Chicago IP/IT partner Adam Aft and associate Sankalp Kandaswamy; Chicago environmental partner Douglas Sanders; real estate partner Brian Zurawski of Chicago and associate Sarah Swain of San Francisco; and Chicago international trade partner Bart McMillan and associate Eunkyung Kim Shin.

Fluor has slowly divested of surplus real estate assets and other non-core investments as it looks to bolster its bottom line. Fluor expected the sale of AMECO, including the unit OEP picked up, to create a $1 billion surplus in gross proceeds. 

EnLink Subsidiary Acquires Equity Interests of Amarillo Rattler

A subsidiary of EnLink Midstream acquired all equity interests in a joint venture between Amarillo Midstream and Diamondback Energy subsidiary Rattler. 

Dallas-based EnLink will pay $60 million for the interests in Amarillo Rattler, which was formed in February 2020 and owns a gathering and processing system in the Midland Basin. The transaction also includes a drilling activity-based earnout to be capped at $15 million.

As part of the transaction, EnLink, which trades on the New York Stock Exchange, entered into an amended and restated gas gathering and processing agreement with Diamondback.

EnLink selected Baker Botts as legal counsel with a team led by Dallas corporate partner Preston Bernhisel and associates Nic O’Brien and Derek Gabriel.

Dallas partner Stephen Marcus and senior associate Jordan Hahn advised on tax matters and Austin partner Aileen Hooks counseled on environmental matters.

King & Spalding advised Amarillo Rattler on legal matters with a Houston team featuring counsel Chris Delphin in Houston and associates Josh Petersen and Austin Paalz.

Akin Gump counseled Diamondback and Rattler on certain aspects of the transaction with a Houston-based team that included partners Lisa Hearn and Gabriel Procaccini, senior counsel Vera Neinast and counsel Niki Roberts.

Southern Company Gas Sheds Natural Gas Marketing and Trading Businesses to Williams

Southern Company Gas sold its wholesale natural gas marketing and trading businesses, Sequent Energy Management and Sequent Energy Canada Corp., to Tulsa-based operator Williams.

Southern Company Gas, a subsidiary of the Southern Co., let go of the units for $50 million plus working capital and other adjustments.

Southern Company Gas engaged Baker Botts as legal counsel with a Houston corporate team led by partner Jonathan Bobinger; senior counsel Bill Lamb and Eileen Boyce; and associates Matthew McKenna, Nathaniel Richards and Regan Vicknair.

The Baker Botts team also included Houston finance special counsel Lyman Paden; Houston tax partner Jon Lobb of Houston and senior associate Peter Farrell of Washington, D.C.; Houston intellectual property partner Michael Hawes; regulatory partners Jason Bennett of Houston, Elaine Walsh of Washington, D.C., Emil Barth of Washington, D.C., senior associate Arigesta Joyce Adetutu of Houston and associate Clarence Hawkes III of Washington, D.C.; and Houston employee benefits partner Mark Bodron and special counsel Krisa Benskin.

Houston Startup Raises $12M in Series A Round

Molecule, a Houston-based developer of cloud-based software that deals in energy and commodities, announced $12 million in fresh funds.

Investors in the A round included Mercury Fund, a longtime early-stage venture investor also based in Houston.

Mayer Brown counseled Molecule in the transaction with a deal team that included Houston senior associate Vince Cangolosi, Houston partner Bob Gray and Chicago partner Richard Assmus.

Molecule’s tools focus on commodity traders, risk managers, hedge funds, private equity firms and other entities that trade power, gas, crude, refined products, chemicals and agriculture commodities. The new capital infusion is expected to further accelerate the startup’s growth in the energy transition space.

Ara Partners, Aksiom Group Team Up to Acquire pxGroup

A partnership between Ara Partners and Aksiom Group teamed up with the management of pxGroup to acquire the infrastructure solutions provider for high-hazard and highly regulated business environments, the companies announced last week. Terms were not disclosed.

Aksiom Services Group’s acquisition is set to accelerate pxGroup’s growth as it angles to solidify its position in the energy transition while also facilitating the exit of private equity firm Bluewater.

Ara Partners, a private equity firm focused on decarbonization investments, selected Latham & Watkins as legal counsel with a team led by Justin Stolte of Houston and Simon Tysoe of London.

White Deer Energy’s Portfolio Company Acquires Magma

Unicat Catalyst Technologies, a portfolio company of White Deer Energy, announced last week that it acquired Magma Group, a United Kingdom-based company specializing in ceramics and catalyst manufacturing. Terms weren’t disclosed.

The combination of Unicat and Magma is expected to create a more vertically-integrated global manufacturing and distribution of catalyst and ceramics products and services.

White Deer tapped Locke Lord to advise on legal matters and Alvarez and Marsal to counsel on financial matters. 

Locke Lord represented White Deer in the transaction with a Houston-based team led by Joe Perillo and Tom Johnson. 

Additional assistance was provided by a cross-border group including Houston-based partners Jerry Higdon, Sara Longtain, Ed Razim, Ann Ryan Robertson and Buddy Sanders, senior counsel Freddy Feldman and associates Rachael Beavers, Shannon Schroeder and Kenton Wilson; and London-based partners James Channo, Nick Dent, Ben Henry, Ben Hitchens and Andrew Shindler, senior counsel Neale Downes and associate Peter Wilkie.

Magma Group relied on BDO for financial matters and Squire Patton Boggs for legal counsel.

Leeds and London partner Paul Mann led the cross-border team representing Magma along with partner Fergus Gallagher of London, associate Harry Hobson of Leeds, partner Patrick Ford of Manchester, partner Mitch Thompson of Cleveland, partner Danielle Asaad of Cleveland and New York, senior associate Rob Ward of Columbus, Ohio, director Gemma Finlayson of Leeds, senior associate Guy Ruddy of Leeds and trainee solicitor Matthew Vautrey of Leeds.

Cairn Snaps Up Dallas-based Real Estate Brokerage

Aperion Management’s Cairn Real Estate Holdings acquired JP & Associates Realtors, the companies announced on May 4. 

Financial terms of the transaction were not disclosed.

Winston & Strawn represented Cairn in the transaction with a team led by New York partner Lilli Scalettar. Texas-based counsel came from Houston partner Doug Yeager.

CAPITAL MARKETS

Tullow Oil Prices $2.8B in Notes

In an offering expected to close on or by May 17, Tullow Oil priced $1.8 billion in 10.25% senior secured notes due May 2026. That amount is in addition to a $500 million revolving credit facility and $100 million letter of credit facility, combining for a super senior secured revolving credit facility.

Tullow, a headquartered in London, plans to use the proceeds to repay the outstanding amount under its reserve-based lending facility, redeem senior notes due May 2022 and cancel convertible bonds due 2021 in addition to any expenses incurred with the transactions.

Vinson & Elkins advised Tullow on both the offering and credit facility with a cross-border team led by partners Noel Hughes of New York, and Lucy Jenkins and Jeff Eldredge of London with assistance from London partner Alex Msimang, counsel Cason Moore of London, Christianne Williams of London and Chris Mathiesen of New York, London senior associates Nadine Amr, Nicole Hamill and John Stephen, and London associates Marcus Martinez of Austin and Louise Fischel-Bock. 

Dallas partner Wendy Salinas and counsel Andrew Callaghan, senior associate Byul Han and associate Simrita Chadha in London provided tax advice.

Kinder Morgan-Southern JV Completes $300M Senior Notes Offering

Southern Natural Gas Co., a 50-50 joint venture between Houston’s Kinder Morgan and Atlanta’s the Southern Co., on April 29 closed an offering for $300 million in senior notes. The 0.625% notes come due in 2023. 

Bracewell advised Southern in the offering with a team that included partners Troy L. Harder and William S. Anderson of Houston and Don J. Lonczak and Jason B. Hutt of Washington, D.C., in addition to associates Kathy Witty Medford and Jay N. Larry of Houston, Kevin M. Voelkel of Washington, D.C., and Brandon J. Butera of Houston.

In-house at Kinder Morgan, assistant general counsel Angela S. Teer, led the transaction.

The JV selected Citigroup, Barclays and Truist Securities as joint book-running managers.

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