Essential Utilities, Inc.’s Registered Offering of Common Stock

Cravath represented the underwriter, RBC Capital Markets, in connection with the $308.2 million registered offering of common stock of Essential Utilities, Inc., a holding company for regulated utilities providing water, wastewater and natural gas distribution services. The shares were, at the request of Essential Utilities, borrowed from third parties and offered by an affiliate of the underwriter in connection with a forward sale agreement entered into by Essential Utilities. The transaction closed on August 13, 2020.

The Cravath team included partners Stephen L. Burns and Andrew J. Pitts, corporate senior attorney Elizabeth Albert, and associates Matthew G. Jones, Alexander Lee Abelson and Madeleine S. Shiff on capital markets matters, and associate Rory M. Minnis on tax matters.