Albemarle’s $2.3 Billion Public Offering of Mandatory Convertible Preferred Stock

Cravath represented Albemarle Corporation in connection with its $2.3 billion public offering of depositary shares, each representing a 1/20th interest in a share of Series A Mandatory Convertible Preferred Stock of Albemarle, at a public offering price of $50 per share. Albemarle leads the world in transforming essential resources into critical ingredients for mobility, energy, connectivity and health. The transaction closed on March 8, 2024.

The Cravath team included partners Joseph D. Zavaglia, Michael E. Mariani and C. Daniel Haaren, of counsel Janice T. P. Martindale and associates Nadia T. Odai‑Afotey, Katie DelGhingaro and Joseph N. Kadoch on capital markets matters, associates Josh Banafsheha and William Swisher on tax matters, and practice area attorney David Crampton and associate Celine Li on executive compensation and benefits matters.