Nick Dorsey Speaks at the 2021 IBA European Corporate and Private M&A Conference

Cravath represented the initial purchasers in connection with the $350 million 144A/Reg. S high‑yield senior notes offering of Beacon Roofing Supply, Inc., the largest publicly traded distributor of roofing materials and complementary building products in the United States and Canada at the time of the offering. The transaction closed on May 10, 2021.

Cravath represented PG&E Corporation in connection with establishing its registered $400 million at‑the‑market common stock program. PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California. The transaction closed on April 30, 2021.

Cravath represented the underwriters in connection with the $500 million registered senior notes offering of CBRE Services, Inc., a direct wholly‑owned subsidiary of CBRE Group, Inc. CBRE is a leading commercial real estate services and investment firm. The transaction closed on March 18, 2021.

On March 29, 2021, Cazoo Holdings Limited (“Cazoo”), the UK’s leading online car retailer, and AJAX I, a publicly‑traded special purpose acquisition company (SPAC), announced the signing of a definitive business combination agreement which values the combined company at a pro forma enterprise value of approximately $7.0 billion and a pro forma equity value of approximately $8.1 billion. Upon closing of the proposed transaction, the combined company will be named Cazoo and listed on the New York Stock Exchange. Cravath, together with Slaughter and May, is representing DMGT, which owns a 20% stake in Cazoo through its venture capital arm dmg ventures, in connection with the transaction.