LPL Financial Holdings Inc.’s $1.73 Billion Registered Common Stock Offering and Concurrent $1.5 Billion Senior Notes Offering

Cravath represented the underwriters in connection with the $1.73 billion registered common stock offering of LPL Financial Holdings Inc. (“LPL”), a holding company which, through its securities brokerage, offers investment advisory services and insurance brokerage services. Cravath also represented the underwriters in connection with LPL’s concurrent $1.5 billion senior notes offering. Proceeds of the offerings will be used to partially finance LPL’s acquisition of Commonwealth Financial Network. The transactions closed on April 2, 2025, and April 3, 2025, respectively.

The Cravath team included partners Andrew J. Pitts and C. Daniel Haaren and associates Y. Olivia Huang, Brian E. Weinrib, Joseph N. Kadoch, Weston James Barker, Ali Jimenez and Kaiqi Bao on capital markets matters; partner Andrew T. Davis and associate Megan Samayoa on tax matters; and associate Louis (Jay) Kober on executive compensation and benefits matters.