Four Decades for Justice
On July 27, 2023, Cravath partner Nicholas A. Dorsey was featured in Bloomberg Law’s “They’ve Got Next: 40 Under 40” series, which recognizes “the accomplishments of stellar young lawyers nationwide,” based on their work on key client matters, assumption of leadership roles, pro bono commitments and more. In a Q&A, Nick, the only capital markets‑focused lawyer included on the list for 2023, described his work on financings relating to “transformative, bet‑the‑company situations,” including for client PG&E in an $8.72 billion tri‑tranche equity offering—the largest utility equity offering in history. Nick highlighted his pride in helping to advance the profession of practicing law, including through mentorship of young lawyers and activity in the International Bar Association, and noted the significant impact of his own greatest mentor in the law, Cravath partner Craig Arcella.
Deals & Cases
July 22, 2020
Cravath represented PG&E Corporation (“PG&E”) in connection with its $4.02 billion registered offering of common stock, $3.25 billion private placement of common stock and $1.45 billion registered offering of equity units. This tri‑tranche offering represents the largest utility equity offering in history. Cravath also represented PG&E in connection with the private placement of $523 million of forward stock purchase contracts, an innovative structure that served to backstop the underwriters’ greenshoe options in the public offerings. The combined proceeds of these offerings were used by PG&E to effectuate its emergence from chapter 11 proceedings. PG&E, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to over 16 million customers in northern and central California. The transactions closed on July 1, 2020.
Celebrating 200 years of partnership. In 2019, we celebrated our bicentennial. Our history mirrors that of our nation. Integral to our story is our culture.
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