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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, 16 Firms, 125 Lawyers, $7.2B

May 5, 2021 Anna Butler

Confidence continues to climb as U.S. companies large and small determine the best routes to invest in growth, access capital and batten down reserves. 

As part of its latest Business Pulse Survey, Truist — the Charlotte-based combination of BB&T and SunTrust — polled decision makers at 526 small businesses with revenue between $100,000 and less than $2 million; 611 commercial and middle-market businesses with revenue between $2 million and $499.9 million; and 50 large corporate firms with revenue between $500 million and $1 billion between Feb. 1 and March 2.

The three tranches of companies have differing — and not unexpected — relationships to anticipated growth in the coming year.

Thirty percent of large corporate firms see “major capital investments” as a top priority in their five-year strategy. Decision makers see the funds coming by way of equity financing from investors (47%), bank loans (43%) and cash-on-hand and reinvested corporate earnings (40%).

Ninety percent of firms in this segment expect their businesses to grow in the next five years.

For mid-sized firms, introducing new products and identifying new customer segments will bolster expansion, which is expected to be buttressed by capital investments growth in domestic and international markets.

For small businesses, decision makers plan to solidify their pre-pandemic position, rather than make substantial gains. To reach pre-pandemic levels, those businesses will rely on direct investments in product development, marketing to the most profitable niches and leveraging digital technologies. 

One notable takeaway: Small businesses report a heavier reliance on advisory with 44% working with certified public accountants, 43% with business consultants, 41% with primary bankers and 39% attorneys in this year’s survey. The attorney figure grew by 14% year-over-year, CPAs by 11%, business consultants by 22% and bankers by 18%.

The eye toward growth remains conservative for decision makers as pressures mount to reexamine business and financial strategies for a post-pandemic world. Primary worries for the surveyed companies include the potential for a 2021 recession, pandemic-related government restrictions, the impact of the immigration debate on labor and overall uncertainty. 

In Texas, the deal count last week ticked up with a jump in notes and bond offerings. Twelve M&A and funding transactions came in at $3.808 billion and nine capital markets transactions tallied at $3.392 billion with 125 Texas-based lawyers involved from 16 firms.

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
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

Last week, the Corporate Deal Tracker had eight deals for a total of $20.2 billion with 31 Texas lawyers from nine firms.

Looking back a year, 15 deals added up to $10.4 billion with contributions from 90 lawyers at 10 firms.

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

M&A/FUNDING

Utility Assets in Arkansas, Oklahoma Change Hands

CenterPoint Energy sold utility assets in Arkansas and Oklahoma to Summit Utilities, the companies announced last week. 

Summit, which is owned by JPMorgan-advised Infrastructure Investments Fund, picked up the assets for $1.75 million in cash in addition to the elimination of CenterPoint’s $425 million storm-related incremental natural gas cost.

You can read more about the deal by clicking here. 

CenterPoint general counsel Monica Karuturi led the deal at the company alongside Charles Wang, director – corporate and finance and AGC, and Eric Shoppe, AGC. 

Baker Botts advised CenterPoint in the divestiture. The Houston-based corporate team included partners Timothy S. Taylor and Clint Rancher, senior associate Jamie Yarbrough and associate Joshua M. Gonzalez. Finance partner Robert Wann of New York advised on the deal in addition to tax partners Michael Bresson, Richard Husseini and Renn Neilson and senior associates Jared Meier and Derek Young, all of Houston.

Houston-based partner Gail Stewart and associate Gabriela Alvarez weighed in on employee benefits while Washington, D.C., partner Thomas Fina worked on antitrust matters and Washington, D.C., partner Emil Barth on regulatory considerations.

Acting as financial advisors to CenterPoint were JPMorgan Securities and RBC Capital Markets.

Morgan, Lewis & Bockius counseled Summit. Partner John G. Klauberg of New York led the team along with partner Kathryn Ostman of Boston, Michael Espinoza of New York and Michael Müller of Boston, and associates Spencer Curtis of Hartford, Connecticut, and Kelly Cooke of Boston.

Centerview Partners and KeyBanc Capital Markets provided financial advice. KeyBank also has committed bridge financing for the transaction, which is expected to close by the end of 2021.

Portfolio Company of Dallas’ Kainos Sells for $950M

Olam Food Ingredients plans to purchase Olde Thompson, a portfolio company of middle market private equity firm Kainos Capital, the firm announced on April 28.

The deal, which is expected to close in the second quarter, is valued at $950 million. 

Weil advised Olde Thompson in the transaction with a Dallas-based team co-led by partners David Gail and Richard Frye along with associates Drew Mosier, Seth Jaskoviak and Niko Lane. Partner Jonathan Macke of Dallas advised on tax matters in addition to Washington, D.C. associate George Hatzigeorgiou.

Olde Thompson tapped Sawaya Partners and Lazard as financial advisors.

Kainos, which specializes in food and consumer-oriented products, acquired Olde Thompson in 2018. The company is the largest dedicated manufacturer and supplier of private label dry spices and seasonings in North America, a status achieved through the 2020 bolt-on acquisition of Gel Spice and investment in manufacturing and customer development, according to Dallas-based Kainos.

Singapore-headquartered Olam Food Ingredients is the operating arm of food and agri-business giant Olam International.

SPAC Merger Eyes Tech-Centric Hospitality

Gores Metropoulos II, a special purpose acquisition company backed by an affiliate of the Gores Group, and Sonder Holdings Inc. announced plans on April 30 to combine as the entities look to create a more robust technology-driven hospitality business.

The transaction, which is expected to close in the second half of the year, has Sonder stockholders keeping 74% of the combined company.

Along with $450 million in GMII’s trust account and $165 million as part of a convertible notes offering led by Moore Strategic Ventures, the Gores Group also concurrently led a $200 million private investment in public equity round alongside the deal for the combination with Sonder. 

The PIPE included institutional investors such as Fidelity Management & Research Co., funds and accounts managed by BlackRock, and entities affiliated with Moore Capital Management, among others.

Weil, Gotshal & Manges advised the SPAC in the transaction. A private equity team out of Silicon Valley, including partner Kyle Krpata and associates Grace Ly, Travis Michaud and Hilary Wilkerson, led the combination for the firm.

Partner James Griffin of Dallas and associates Austin Freeman of Dallas, Christopher Perkins of Dallas and Michael Block of New York advised on M&A matters while New York partner Heather Emmel acted as counsel on capital markets.

GM II selected Morgan Stanley & Co. as lead financial advisor along with Moelis & Co. as an additional financial advisor. Deutsche Bank Securities and Citigroup served as capital markets advisors. 

Sonder tapped Goldman Sachs & Co. as financial advisor and Wilson Sonsini Goodrich & Rosati as legal advisor.

Acting as joint lead placement agents for the PIPE are Goldman Sachs, Morgan Stanley, Citigroup and Deutsche Bank Securities with Latham & Watkins serving as legal advisor to the co-placement agents.

The Latham team included Los Angeles partner Steven Stokdyk in addition to Century City counsel Adam Rachlis and Los Angeles associate Jack Chai.

Sonder works directly with real estate developers and property owners to lease, manage and operate spaces. The company has seen a reduction in operating costs of as much as 50% compared to traditional hotels through its real estate-first business model.

Austin Freight Brokerage Receives More Than $300M Capital Infusion

Arrive Logistics received a more than $300 million capital investment led by ATL Partners and co-investors the Baupost Group, British Columbia Investment Management Corporation and Temasek.

The new round of financing includes primary and secondary equity with ATL becoming the single largest investor in the fast-growing freight brokerage.

J.P. Morgan served as placement agent.

Holland & Knight provided legal counsel to Arrive with a team that included partners Shawn Turner of Denver, Kerry Kehoe of Boston, Mark Melton of Dallas and John Martini of Philadelphia and associates Alex Weaver, Laura Nickerson and Lindsey Dundas, all of Denver. 

ATL selected Credit Suisse as financial advisor and Gibson, Dunn & Crutcher as legal counsel, including Washington, D.C., and New York partners Alexander Fine and Mark Director in addition to New York associates Matthew Schwartz and Trevor Topf. 

New York partner Aaron Adams and New York associate Jason Durschlag advised on financing; Houston partner James Chenoweth and Houston associate Collin Metcalf advised on tax aspects; and Washington, D.C., partner Michael Collins and Dallas associate Tyler Richardson advised on benefits.

Washington, D.C. partner Greta Williams advised on labor aspects; New York associates Meghan Hungate and Sarah Segal advised on IP; Washington, D.C. associate R.L. Pratt advised on regulatory aspects; and Washington, D.C. associate Kyle Neema Guest advised on environmental aspects.

Arrive, founded in 2014, previously raised $50 million, which it utilized to develop a proprietary transportation management system with machine learning and automation features. Proceeds from this latest fundraising effort have been earmarked for continued development of proprietary technology in addition to expanding the Arrive team and its new service offerings.

Mississippi’s Largest Solar Project Underway With Aid From Latham

Recurrent Energy closed on $146 million in debt financing to construct the largest solar project in Mississippi.

Recurrent, a wholly owned unit of Canadian Solar Inc., plans to build a 100-megawatt facility, dubbed the Sunflower Solar Project, due to its location in Sunflower County.

The $146 million price tag includes the construction loan and letter of credit commitments.

Latham & Watkins acted as legal counsel in the financing with a team led by San Diego partner Omar Nazif, with associates Joanna Gorska and Claire Bang.

Houston partner Jim Cole counseled on tax matters with Chicago associate Michael Zucker; Los Angeles and Washington, D.C., counsel Joshua Marnitz advised on environmental matters; and Washington, D.C., partner Tyler Brown counseled on energy regulatory matters with associate Jamie Blackburn. 

Norddeutsche Landesbank and Rabobank provided the debt financing. 

The project, which is expected to employ 400, is part of a build-transfer agreement with Entergy Mississippi. Once completed in 2022, regulated utility Entergy plans to take ownership of the project once it’s ready for commercial operation.

Take Command Health Raises $12M in Series A Round

A Dallas-based health benefits startup raised $12 million in Series A funding last week led by Live Oak Venture Partners and SJF Ventures.

Glenn Singleton, a Foley & Lardner partner and leader of the firm’s transaction practice group in Dallas, provided legal counsel to Take Command. 

Take Command Health focuses on innovation in the health reimbursement account space. It plans to use the funding to add employees and launch new features and products, such as a new payments solution, among other pushes. 

Vitol’s Vencer Purchases Permian Assets in First Deal

Vencer Energy, a Houston-based U.S. oil exploration firm formed by Dutch commodities trader Vitol last year, entered into an agreement to purchase the Midland Basin assets of Dallas’ Hunt Oil Co. on April 30. 

Terms of the transaction were not disclosed, but one report had the price tag at around $1 billion.

The assets span 44,000 acres in the basin, producing about 40,000 barrels of oil equivalent per day. The transaction marks Vencer’s first acquisition since Vitol formed the entity to invest in and operate U.S. assets.

“This acquisition represents an initial step to building a larger, durable platform in the US Lower 48,” Ben Marshall, Vitol’s head of Amercas, said in a statement. 

Latham & Watkins acted as legal counsel to Vencer with a corporate deal team led by Houston partner Stephen Szalkowski with associates Thomas Hillebrand, Alice Parker, Corey Allen, Rebecca Kendall, Luke Strother and Austin Sheehy.

The team also included Houston partner Jim Cole with associate Emily Fawcett, who advised on tax matters; Washington, D.C., partner Adam Kestenbaum, who advised on benefits and compensation matters; and Washington, D.C., partner Jason Cruise and counsel Sydney Smith, who advised on antitrust matters.

Simmons Energy acted as financial advisor with a Houston-based upstream banking team that included managing directors Doug Reynolds and Dallas Griffin, director of engineering Daniel Camper and vice president of geology Jessica Hayward. 

Phillips 66 Purchases Minority Stake in Soy Processing Plant

Energy giant Phillips 66 announced on April 20 plans to invest in a new soy bean-processing project in Iowa. The investment gives the Houston-based company a minority stake in Shell Rock Soy Processing. 

Phillips 66 chose Bracewell to advise on legal matters with a team led by Houston partner Ryan S. Holcomb and New York partner Elizabeth L. McGinley along with Houston associate Sidney Nuñez. 

As part of the agreement, Phillips 66 will purchase 100% of the forthcoming plant’s soybean oil, which is expected to yield 4,000 barrels per day once operational in 2022. The company will then convert the soybean oil to renewable diesel.

Beyond soybean oil, Shell Rock will also produce soybean meal and hulls for livestock.  

61C Global Completes Series of Strategic Acquisitions

Natural gas and power merchant Six One Commodities Global announced April 26 that it has acquired Vega Energy Partners and WGL Midstream, which is managed by VEP. Terms weren’t disclosed.

DLA Piper advised 61C Global on the transaction with a Houston-based team led by of counsel Deanna Reitman in addition to associate Annette Moreno and partner Glenn Reitman. 61C’s chief administrative officer, general counsel and secretary Joseph Limone led the transaction in-house.

Reed Smith partner Efren Acosta and Baker Botts associate Katie Belleville represented VEP, along with in-house counsel Kasyn Stevenson.

WGLM tapped Latham & Watkins as legal advisory with a team that included Washington, D.C. counsel Elizabeth More and Houston associates Alice Parker, Jacob Weiner and Sarah Dunn.

Pinnacle Asset Management-backed 61C Global plans to further its reach into the natural gas market with the acquisition of VEP, a Houston-based energy merchant, and WGLM, a wholesale energy solutions business focused on natural gas pipelines and storage in the Midwest. 

Ben Sutton, CEO of New York-based 61C Global, noted that the company looks forward to establishing a Houston office and presence as it looks to integrate and work with the VEP team.

Fort Worth PE Firm Enters Agreement With Delaware Basin Oil and Natural Gas Company

Fort Worth private equity firm Vortus Investment Advisors announced a new partnership with Stateline Operating, the product of an operating and joint venture agreement between Vortus and Flat Creek Resources. Terms weren’t disclosed.

Kirkland & Ellis advised Vortus in the transaction with a team led by Dallas partner Thomas Laughlin and Houston partner Shubi Arora in addition to associates Josh Teahen of Houston, Danny Nappier of Dallas and Jack Dougherty of Dallas and Dallas tax partner Lane Morgan.

Shearman & Sterling provided legal counsel to Stateline with a team led by Houston partner Sarah McLean.

Flat Creek will manage oil and natural gas company Stateline as it develops existing assets in the Delaware Basin. Vortus, which focuses on lower to middle market upstream investments, will continue to search for other opportunities for the JV, including in the Permian Basin. 

Bracewell Advises on Lincoln Property’s Preston Center Project

Dallas-based Lincoln Property Co. plans to go vertical with a 225,000-square-foot mixed-use development alongside 128 residential units.

Bracewell advised Lincoln Property’s commercial division in the deal. A Dallas-based team including partner K. Brock Bailey, counsel C. Robert “Cris” Baird and associate Christie L. Latimer led the transaction.

Located within Dallas’ Preston Center along Douglas Ave., two side-by-side towers will be separated by a parking garage and amenity deck.

Lincoln plans to break ground on the development in May after five years of collaboration with the land owner, St. Michaels and All Angels Episcopal Church. The two sought entitlements from the City of Dallas for the project.

Warburg Pincus to Launch Licensing-Focused Acquisition Platform

Growth investing behemoth Warburg Pincus teamed up with LMCA, a brand licensing and extension agency, to launch an all-new brand acquisition platform, the firms announced on April 26. 

Details pertaining to Warburg Pincus’ expected financial backing of Full Sail IP Partners were not disclosed.

Full Sail IP Partners will target prime brands to add to its portfolio to further build and scale the businesses through a focused brand licensing business model.

Kirkland & Ellis advised WP in the transaction with a team led by corporate partners Kim Hicks of Austin and Houston and Adam Larson and associates Paul Knowlton and Mya Johnson, all of Houston; technology and IP transactions partners Seth Traxler of Chicago and Daisy Darvall of New York; and tax partner Mark Dundon of Houston.

Ropes & Gray provided legal counsel to LMCA.

New York-based Warburg Pincus has more than $60 billion in private equity assets under management.

CAPITAL MARKETS

Waste Management Queues Up Senior Notes Offering to Fund Cash Tender

Houston-based Waste Management announced April 28 the pricing of $950 million in senior notes in an offering expected to close May 12. 

Waste Management plans to use proceeds from the offering, along with cash-on-hand, to fund a previously announced tender offering for up to $950 million in cash in certain senior notes issued by Waste Management Inc. and Waste Management Holdings. The maturity dates range from 2024 to 2049. 

The latest senior notes offering includes 2% notes due June 1, 2029, and 2.95% notes due June 1, 2041, both with a principal amount of $475,000.

Baker Botts advised Waste Management on the senior notes offering, in addition to the tender offering, which is slated to close on May 25.

The Baker Botts team included corporate partner Clint Rancher, senior associate Lakshmi Ramanathan and associates Matthew McKenna and Malakeh Hijazi, all of Houston; environmental partner Aileen Hooks and associated Catie Miller, both of Austin; labor & employment partners Jennifer Trulock of Dallas and Mark Bodron of Houston and associate Gabriela Alvarez of Houston; and tax partners Michael Bresson and associate Leah Davis Patrick, both of Houston.

Joint booking managers for the senior notes offering are Credit Suisse Securities, Goldman Sachs & Co. and Wells Fargo Securities. The trio will also serve as the dealer managers for the tender offering. 

Gibson Dunn advised the dealer managers. Houston partner Hillary Holmes and Orange County partner Jim Moloney led the team alongside New York associate Rodrigo Surcan and Houston associates Harrison Tucker, Jordan Rex and William Bald.

Acting as co-managers of the notes offering are BofA Securities, Barclays Capital, J.P. Morgan Securities, Mizuho Securities USA, Scotia Capital, PNC Capital Markets, Truist Securities, Loop Capital Markets, Academy Securities, Siebert Williams Shank & Co. and Stern Brothers & Co.

Waste Management engaged Global Bondholder Services Corp. as the tender and information agent for the tender offering.

Baker Botts and Gibson Dunn participated in a recent senior notes offering for Waste Management at the end of 2020 in which the company sought $2.5 billion.

Houston’s EAP Premieres Inaugural Bond Offering

Oil and gas exploration company Encino Acquisition Partners closed its inaugural bond offering of $700 million in senior unsecured notes. 

EAP expects the move to give the company more financial flexibility as it looks to pay down an existing second-lien term loan and reduce borrowings against its $2 billion reserve-based credit facility. 

Kirkland advised Encino in the private placement offering with a team that included capital markets partners Matt Pacey and Michael Rigdon of Houston and associates Atma Kabad of Houston, Logan Weissler of Dallas and Christina Godard of Houston; debt partners Will Bos and Andy Veit, both of Houston; and tax partners Mark Dundon and Joe Tobias, both of Houston.

The Houston-based company, which is a partnership between Encino Energy and the Canada Pension Plan Investment Board, is the largest producer of natural gas in Ohio with holdings in the Utica shale.

Chuck-E-Cheese Parent Raises $650M Through Debt Offering

As CEC Entertainment looks to refinance its existing first and second lien term loans, the entertainment and dining company closed a $650 million senior note offering in addition to a new $50 million revolving credit facility. 

The Irving-based company faced a tough 2020 brought on by the strictures put into place tied to the Covid-19 pandemic. You can read more about the company through the story of Rudy Rodriguez, Jr., chief legal officer and chief human relations officer, for CEC by clicking here.

Akin Gump Strauss Hauer & Feld advised CEC on the private offering and additional credit facility with Rodriguez leading the transaction internally.

The Akin Gump team included partner and leader of the integrated special situations group Daniel Fisher of New York and Washington, D.C., and capital markets partners Garrett DeVries and Ryan Cox, both of Dallas; finance partner Lucas Charleston of New York; counsel Clare Joyce of New York, Paul Monsour and Kevin Schott of Houston; and associates Sam Alexander of New York, Tyler Conte of Houston and Joseph Lumley of New York.

CEC is looking to the refinancing, in addition to the new credit facility, to provide greater flexibility and liquidity as the company looks to rebound. The 6.75% notes will mature May 1, 2026.

Midwest Utility Closes $500M Senior Notes Offering

Electricity and steam utility Evergy Missouri West closed its issuance of $500 million in senior notes that includes $350 million in Series A notes due April 20, 2031, $75 million in Series B notes due April 20, 2033, and $75 million Series C notes due April 20, 2036. 

Hunton Andrews Kurth advised Every Missouri West in the private placement. Houston-based tax partner Robert McNamara and associate Tim Strother served on the HuntonAK team, which was led by New York partners Peter O’Brien and Christina Kwon and associates Ashley Jaber and Brendan Harney in addition to Richmond partner Eric Nedell, New York partner Leslie Okinaka and Washington, D.C. partner John Shepherd. 

Evergy corporate counsel and assistant secretary Jeffrey C. DeBruin handled the matter internally.

Bracewell acted as advisor to the purchasers while Barclays Capital acted as placement agent.

Genesis Energy Closes Upsized Senior Notes Offering

Genesis Energy, a midstream energy master limited partnership headquartered in Houston, closed an offering of $250 million in 8% senior notes due in 2027. Proceeds from the offering, which was originally flagged for $200 million, 

Genesis’ subsidiary, Genesis Energy Finance Corp., acted as co-issuer in the offering. The new notes will be treated as a single note class with a previous $750 million issuance from GEFC from December.

Akin Gump acted as legal counsel to Genesis. The team included Houston corporate partners Patrick Hurley, Chris Centrich, Chip Cowell and Eric Muñoz and associates Allyson Li, Alex France, Katherine Raymond and Mike Willey. Partners Alison Chen and Jocelyn Tau, both of Houston, also provided tax advice, and Los Angeles senior counsel Michael Gerald worked on benefits aspects.

BofA Securities, Wells Fargo Securities, SMBC Nikko Securities America, BNP Paribas Securities, Capital One Securities, Citigroup Global Markets, Fifth Third Securities, RBC Capital Markets, Regions Securities and Scotia Capital served as joint book-running managers. 

HuntonAK represented the underwriters. Houston partner Henry Havre, associates Chris Adcock, Hannah Bradley, and Casey Shaw, and counsel Jerry Chandapillai led the Texas-based team along with Houston partners Emily Cabrera, Robert McNamara, and Mike O’Leary; Houston associates Marshall Heins and Tim Strother, and Austin partner Lisa Shelton.

Comerica Securities acted as co-manager.

NorthWestern Corp. Launches $200M At-the-Market Program

NorthWestern Corp. entered in an equity distribution agreement to offer and sell up to $200 million in common shares.

J.P. Morgan Securities, BofA Securities, CIBC World Markets Corp. and Credit Suisse Securities (USA) will act as sales agents and forward sellers as part of the at-the-market program. JPMorgan Chase Bank, Bank of America, Canadian Imperial Bank of Commerce and Credit Suisse Capital will serve as forward purchasers in the transaction.

Jones Day advised NorthWestern, a generator and distributor of electricity and natural gas. The company’s senior corporate counsel and corporate secretary Timothy Olson led the program internally.

HuntonAK served as legal counsel to sales agents, forward sellers and forward purchasers tied to the transaction. Houston partner Robert McNamara and associate Tim Strother advised on tax matters for the transaction along with New York partners Brendan Harney, Christina Kwon, Peter O’Brien and Leslie Okinaka; New York associate Flavia Vehbiu; and Charlotte partner Joseph Buananno.

HuntonAK Advises Underwriter in $35M Offering for Illinois Bank

Community Bank Corp., a holding company for Illinois-based Park Ridge Community Bank, completed the issuance of $35 million in 15-year fixed-to-floating rate subordinated notes.

Proceeds from the offering are expected to fund potential future strategic opportunities, such as a share repurchase program, among other general corporate purposes.

Barack Ferrazzano Financial Institutions Group advised Community Bank Corp. Performance Trust Capital Partners acted as the sole placement agent for the offering. 

HuntonAK served as counsel to the underwriter with a team led by partner Peter Weinstock of Dallas and associate Lauren Titolo of San Francisco, along with counsel Carleton Goss of Dallas.

New York Mortgage Trust Looks to Senior Notes to Originate New Investments

In an offering that closed on April 27, New York Mortgage Trust Inc. completed the private placement of $100 million in senior notes. 

NYMT plans to utilize proceeds from the offering to originate new investments and repay indebtedness, among other general purposes. The REIT specializes in acquiring, investing in, financing and managing mortgage-related single-family and multi-family residential assets.

Vinson & Elkins advised New York Mortgage Trust on legal matters. Partners Chris Green of Washington, D.C., Brett Santoli of New York, and David Stone of Houston led the V&E team with assistance from senior associate Maya Bobbitt of New York and associates Erin Torrez of Richmond, Austin Scieszinski and Cole Renicker of New York. Partner Chris Mangin of Washington, D.C., senior associate Paige Anderson of Richmond and associate Christina McLeod of Washington, D.C., acted as advisors on tax matters.

Piper Sandler acted as placement agent for the offering. The 5.75% notes come due in April 2026.

Houston’s Evolve Transition Infrastructure Enters ATM Sales Agreement

Evolve Transition Infrastructure, formerly Sanchez Midstream Partners, entered into an ATM sales agreement with Virtu Americas to act as sales agent in offering up to $7 million in common shares as part of a limited partnership.

Proceeds, if any, would go toward repaying or refinancing part of the Houston-based company’s indebtedness and funding capital expenditures once Virtu’s fees have been paid. 

HuntonAK advised Evolve in the transaction with a Houston-based team including partners Phil Haines, Henry Havre, Allison Mantor and Robert McNamara and associate Kelli Regan. 

Duane Morris Walkers acted as legal counsel to Virtu.

Terms of the transaction, which is expected to close on May 11, were not disclosed.

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