Cravath’s London Office Moves to 100 Cheapside
Nicholas A. Dorsey focuses his practice on representing corporate issuers and borrowers, and financial institutions, lenders and other parties, in public and private offerings of securities, loan transactions and other financing transactions. He also represents companies in mergers and acquisitions and regularly advises clients in connection with public disclosure and corporate matters. He is Co-Head of the Venture Capital & Growth Equity Practice, where he dedicates significant time to providing commercial and strategic advice to startup, early‑stage and founder‑led companies and investors in such companies. Clients regularly seek his counsel for the practical, commercial advice he offers with respect to their most challenging matters.
In addition to traditional capital markets offerings and banking transactions, Mr. Dorsey’s financing practice includes advising on liability management transactions, asset- and royalty-based financings and securitizations. He has extensive cross‑border experience and counts multiple international companies and financial institutions among his diverse client base.
Notable work highlights include:
- IPOs, direct listings, SPAC combinations and spin-offs for companies such as Alliant Techsystems (ATK), Cano Health, Climate Transition Capital Acquisition I, Costamare, DRI Healthcare Trust, On, Palantir, SciPlay, Swvl, Vaxxinity, Vista Outdoor and Younited
- Public and private equity financings for companies such as Akorn, Beacon Roofing Supply, Credit Suisse, DRI Healthcare Trust, Forterra, Hewlett Packard Enterprise, Oddity, Orcosa, PG&E, PNC, Replimune and Swvl
- Investor representations such as DMGT in the $8.1 billion business combination of Cazoo and AJAX I SPAC; Prosus in its $500 million PIPE investment in connection with Churchill II SPAC’s $1.5 billion merger with Skillsoft and acquisition of Global Knowledge; Richemont in its $1.1 billion PIPE investment in Farfetch, in partnership with Alibaba; Shaolin Capital Management in its $50 million PIPE investment in connection with the business combination of Bitcoin Depot and GSR II Meteora Acquisition Corp.; a large investor in connection with the $5.1 billion IPO of Lineage; DRI Capital and its affiliates in multiple matters, including equity investments and acquisitions of traditional and synthetic royalty interests; and a variety of venture capital firms, corporate venture capital departments and angel investors in investments of all sizes
- Debt offerings for companies such as Beacon Roofing Supply, CBRE, Chemours, Corteva, Credit Acceptance, Credit Suisse, Disney, Expedia, Graham Holdings, Hewlett Packard Enterprise, HP, Lazard, Navistar, Nestlé, Occidental Petroleum, Outbrain, Parker‑Hannifin, PG&E and Sherwin‑Williams
- Banking and credit transactions for companies such as Bay Club, Beacon Roofing Supply, Centene, The Collective, Outbrain, PG&E, RedHill Biopharma and WiLine Networks
- Accounts-receivable financings, securitizations and other structured financings for companies such as Albemarle, Amentum, Citibank Credit Card Issuance Trust, Corteva, Crown Castle, Drug Royalty, Ferroglobe, INEOS, Martin Marietta, Mylan, Occidental Petroleum, Olin, RedHill Biopharma and US Foods
- PG&E’s tri‑tranche offering, which represents the largest utility public equity offering in history, as well as the arrangement of its Debtor‑in‑Possession (“DIP”) financing and other advisory matters relating to its chapter 11 proceedings
Mr. Dorsey has been recognized for his work in capital markets by Chambers USA, Chambers Global, The Legal 500 US, IFLR1000 and Lawdragon. He has been named to Bloomberg Law’s “40 Under 40” list and was named the “Equity Capital Markets Lawyer of the Year” by IFLR1000 in its United States Awards and a “Rising Star” by Law360, recognizing him as one of five outstanding capital markets lawyers in the nation under the age of 40. Mr. Dorsey’s representations of the Founders of Palantir in the company’s direct listing and PG&E in its $5.5 billion DIP financing have been featured as the “Equity Capital Markets Deal of the Year” and “Banking and Finance Deal of the Year,” respectively, by IFLR1000.
Mr. Dorsey is a frequent speaker and author on a range of finance topics. He has authored the U.S. Law & Practice chapter of the Chambers Venture Capital Guide and served as Contributing Editor of multiple editions of the Chambers Acquisition Finance Guide. In addition, Mr. Dorsey authored the “Special Considerations for Non-EU Issuers” chapter in the Third Edition of European Securities Law and co‑authored an article entitled “SPAC Transactions in the United States” in The Legal 500’s “Mergers & Acquisitions Country Comparative Guide.” He has spoken at events such as the International Bar Association’s “From Start‑Up to IPO,” “Global Entrepreneurship” and “Silicon Hills – the Tech Epicentre of Texas: from Start-Up to Exit” conferences, the Practising Law Institute’s “Institute on Securities Regulation,” TechGC’s First-Time GC Summit and Cornell Tech’s Board of Directors Forum.
Mr. Dorsey is a member of the International Bar Association and serves as the Entrepreneurship Conference Know‑How Officer of the Closely Held Companies Committee.
Mr. Dorsey was born in Canton, Ohio. He received a B.S. and M.Acc. summa cum laude from Case Western Reserve University in 2006 and a J.D. summa cum laude from Cornell Law School in 2009, where he was a Notes Editor of the Law Review and was elected to the Order of the Coif.
Mr. Dorsey joined Cravath in 2009 and was elected a partner in 2017. He worked in the Firm’s London office from 2011 to 2013 and is currently based in the Firm’s New York office.
In addition to traditional capital markets offerings and banking transactions, Mr. Dorsey’s financing practice includes advising on liability management transactions, asset- and royalty-based financings and securitizations. He has extensive cross‑border experience and counts multiple international companies and financial institutions among his diverse client base.
Notable work highlights include:
- IPOs, direct listings, SPAC combinations and spin-offs for companies such as Alliant Techsystems (ATK), Cano Health, Climate Transition Capital Acquisition I, Costamare, DRI Healthcare Trust, On, Palantir, SciPlay, Swvl, Vaxxinity, Vista Outdoor and Younited
- Public and private equity financings for companies such as Akorn, Beacon Roofing Supply, Credit Suisse, DRI Healthcare Trust, Forterra, Hewlett Packard Enterprise, Oddity, Orcosa, PG&E, PNC, Replimune and Swvl
- Investor representations such as DMGT in the $8.1 billion business combination of Cazoo and AJAX I SPAC; Prosus in its $500 million PIPE investment in connection with Churchill II SPAC’s $1.5 billion merger with Skillsoft and acquisition of Global Knowledge; Richemont in its $1.1 billion PIPE investment in Farfetch, in partnership with Alibaba; Shaolin Capital Management in its $50 million PIPE investment in connection with the business combination of Bitcoin Depot and GSR II Meteora Acquisition Corp.; a large investor in connection with the $5.1 billion IPO of Lineage; DRI Capital and its affiliates in multiple matters, including equity investments and acquisitions of traditional and synthetic royalty interests; and a variety of venture capital firms, corporate venture capital departments and angel investors in investments of all sizes
- Debt offerings for companies such as Beacon Roofing Supply, CBRE, Chemours, Corteva, Credit Acceptance, Credit Suisse, Disney, Expedia, Graham Holdings, Hewlett Packard Enterprise, HP, Lazard, Navistar, Nestlé, Occidental Petroleum, Outbrain, Parker‑Hannifin, PG&E and Sherwin‑Williams
- Banking and credit transactions for companies such as Bay Club, Beacon Roofing Supply, Centene, The Collective, Outbrain, PG&E, RedHill Biopharma and WiLine Networks
- Accounts-receivable financings, securitizations and other structured financings for companies such as Albemarle, Amentum, Citibank Credit Card Issuance Trust, Corteva, Crown Castle, Drug Royalty, Ferroglobe, INEOS, Martin Marietta, Mylan, Occidental Petroleum, Olin, RedHill Biopharma and US Foods
- PG&E’s tri‑tranche offering, which represents the largest utility public equity offering in history, as well as the arrangement of its Debtor‑in‑Possession (“DIP”) financing and other advisory matters relating to its chapter 11 proceedings
Mr. Dorsey has been recognized for his work in capital markets by Chambers USA, Chambers Global, The Legal 500 US, IFLR1000 and Lawdragon. He has been named to Bloomberg Law’s “40 Under 40” list and was named the “Equity Capital Markets Lawyer of the Year” by IFLR1000 in its United States Awards and a “Rising Star” by Law360, recognizing him as one of five outstanding capital markets lawyers in the nation under the age of 40. Mr. Dorsey’s representations of the Founders of Palantir in the company’s direct listing and PG&E in its $5.5 billion DIP financing have been featured as the “Equity Capital Markets Deal of the Year” and “Banking and Finance Deal of the Year,” respectively, by IFLR1000.
Mr. Dorsey is a frequent speaker and author on a range of finance topics. He has authored the U.S. Law & Practice chapter of the Chambers Venture Capital Guide and served as Contributing Editor of multiple editions of the Chambers Acquisition Finance Guide. In addition, Mr. Dorsey authored the “Special Considerations for Non-EU Issuers” chapter in the Third Edition of European Securities Law and co‑authored an article entitled “SPAC Transactions in the United States” in The Legal 500’s “Mergers & Acquisitions Country Comparative Guide.” He has spoken at events such as the International Bar Association’s “From Start‑Up to IPO,” “Global Entrepreneurship” and “Silicon Hills – the Tech Epicentre of Texas: from Start-Up to Exit” conferences, the Practising Law Institute’s “Institute on Securities Regulation,” TechGC’s First-Time GC Summit and Cornell Tech’s Board of Directors Forum.
Mr. Dorsey is a member of the International Bar Association and serves as the Entrepreneurship Conference Know‑How Officer of the Closely Held Companies Committee.
Mr. Dorsey was born in Canton, Ohio. He received a B.S. and M.Acc. summa cum laude from Case Western Reserve University in 2006 and a J.D. summa cum laude from Cornell Law School in 2009, where he was a Notes Editor of the Law Review and was elected to the Order of the Coif.
Mr. Dorsey joined Cravath in 2009 and was elected a partner in 2017. He worked in the Firm’s London office from 2011 to 2013 and is currently based in the Firm’s New York office.
Education
-
J.D., 2009, Cornell Law SchoolOrder of the Coif, summa cum laude
-
M.Acc., 2006, Case Western Reserve Universitysumma cum laude
-
B.S., 2006, Case Western Reserve Universitysumma cum laude
Admitted In
- New York
Professional Affiliations
International Bar Association
- Entrepreneurship Conference Know-How Officer, Closely Held Companies Committee
New York City Bar Association
New York State Bar Association
Rankings
Bloomberg Law
- They’ve Got Next: The 40 Under 40 (2023)
Chambers Global
- Capital Markets: Debt & Equity - USA (2025-2022)
Chambers USA
- Capital Markets: Debt & Equity - Nationwide (2024-2021)
IFLR1000
- Banking - US (2024-2021)
- Capital Markets - US (2024-2020)
- Equity Capital Markets Lawyer of the Year - US (2021)
- Mergers and Acquisitions - US (2020)
Law360
- Rising Star: Capital Markets (2019)
Lawdragon
- 500 Leading Dealmakers in America (2024)
The Legal 500 US
- Capital Markets: Debt Offerings (2024-2019)
- Capital Markets: Equity Offerings (2024-2020)
- Capital Markets: Global Offerings (2024, 2023, 2022)
Deals & Cases
March 14, 2025
Credit Acceptance Corporation’s High‑Yield Senior Notes Offering
Cravath represented the initial purchasers in connection with the $500 million Rule 144A high‑yield senior notes offering of Credit Acceptance Corporation, a leading independent auto finance company. The transaction closed on February 28, 2025.
Deals & Cases
February 25, 2025
OT Midco Inc.’s High‑Yield Senior Secured Notes Offering
Cravath represented OT Midco Inc. in connection with its $637.5 million 144A/Reg. S high‑yield senior secured notes offering. OT Midco Inc. is a wholly owned subsidiary of Outbrain Inc., a leading technology platform that connects media owners and advertisers to over a billion unique consumers around the world. Proceeds of the offering were used to repay, in full, the bridge facility used to finance Outbrain Inc.’s acquisition of Teads S.A. The transaction closed on February 11, 2025.
Deals & Cases
February 03, 2025
Outbrain’s Acquisition of Teads
On February 3, 2025, Outbrain Inc. (“Outbrain”), a technology platform, announced the closing of its acquisition of Teads, a global omnichannel platform, from Altice. The two companies will merge their offerings to create an omnichannel outcomes platform for the open internet, and will operate under the name Teads. Outbrain, Altice and Teads have amended the previously announced share purchase agreement. Under the terms of the revised agreement, Outbrain will be paying a total consideration of approximately $900 million, consisting of $625 million upfront cash and 43.75 million shares of common stock of Outbrain valued at approximately $263 million. Cravath is representing Outbrain in connection with the transaction.
Deals & Cases
January 06, 2025
Disney’s Combination of its Hulu + Live TV Business with Fubo
On January 6, 2025, The Walt Disney Company (“Disney”) and FuboTV Inc. (“Fubo) announced that they have entered into a definitive agreement for Disney to combine its Hulu + Live TV business with Fubo, forming a combined virtual MVPD company of which Disney will become the majority owner.
Deals & Cases
November 04, 2024
DRI Healthcare Trust’s Acquisition of a Synthetic Royalty Interest in the Worldwide Sales of Sebetralstat and Equity Investment in KalVista Pharmaceuticals
On November 4, 2024, DRI Healthcare Trust (“the Trust”), a global leader in providing financing to advance innovation in the life sciences industry, announced it has acquired a royalty interest in the worldwide net sales of all formulations of sebetralstat, an investigational oral plasma kallikrein inhibitor for the treatment of Hereditary Angioedema, from KalVista Pharmaceuticals ("KalVista") for an aggregate purchase price of up to $179 million, comprised of a $100 million upfront payment, up to $57 million in a sales-based milestone payment and a one-time $22 million optional payment. Additionally, the Trust is making a $5 million investment in KalVista’s common stock in a private placement transaction. Cravath is representing DRI Healthcare Trust in connection with the transaction.
Activities
March 28, 2025
Dave Kappos, Noah Phillips and Nick Dorsey Speak at Cornell Tech’s Board of Directors Forum
Cravath partners David J. Kappos, Noah Joshua Phillips and Nicholas A. Dorsey participated in Cornell Tech’s Board of Directors Forum, which was held from March 26‑27, 2025 in New York. The forum, designed for board members and senior leaders, convened business and legal practitioners, Cornell faculty, former senior government regulators and directors of private and public companies to discuss how corporate boards can stay ahead of developing technologies, regulatory trends and geopolitical shifts.
Activities
March 06, 2025
Nick Dorsey and Kelly Smercina Speak at NOVA and CFGI’s US – IPO Readiness Event
On March 6, 2025, Cravath partners Nicholas A. Dorsey and Kelly M. Smercina participated in NOVA and CFGI’s US – IPO Readiness event, which was hosted by BNY in London. The event convened representatives of the four organizations for a training session on IPO readiness in U.S. capital markets, covering the IPO process and timeline, team and organizational setup and legal considerations.
Activities
February 18, 2025
Nick Dorsey Speaks at IBA’s 6th Silicon Hills Conference
On February 13, 2025, Cravath partner Nicholas A. Dorsey participated in the International Bar Association’s 6th Silicon Hills Conference – the Tech Epicentre of Texas: from Start‑Up to Exit, which was held from February 12‑14 in Austin, Texas. Nick spoke on a panel entitled “Investing in Tech Startups. Is it Still Worth it?,” which explored investors’ skepticism around tech startups, the current and future M&A environment’s effect on exit valuations, the regulatory environment’s effect on international startup investments and whether investors should look to ventures beyond the tech industry.
Publications
February 06, 2025
Cravath Venture Capital & Growth Equity Insights: 2024 Recap and 2025 Outlook
On February 5, 2025, Cravath published the latest edition of its Cravath Venture Capital & Growth Equity Insights newsletter (formerly the Cravath Emerging Company and Venture Capital Insights newsletter), entitled “2024 Recap and 2025 Outlook.” The newsletter provides an overview of global venture capital and related activity during the second half of 2024 and examines emerging fundraising opportunities, key exit trends and increasing secondaries markets activity; offers insights on artificial intelligence investment and cryptocurrency valuation; and provides updates on regulatory developments.
Activities
November 13, 2024
Scott Bennett and Nick Dorsey Participate in CFGI Webcast on US Listings by Foreign Private Issuers
On November 13, 2024, Cravath partners D. Scott Bennett and Nicholas A. Dorsey participated in a webcast entitled “Navigating the Market for Foreign Private Issuers: Unpacking Regulatory Challenges for FPIs in Today’s Economic Landscape,” which was hosted by global accounting and business advisory firm CFGI. During the webcast, Scott and Nick discussed the regulatory and economic challenges faced by foreign private issuers in today's complex financial landscape and the critical issues influencing foreign entities seeking to navigate the U.S. capital markets.
Nicholas A. Dorsey focuses his practice on representing corporate issuers and borrowers, and financial institutions, lenders and other parties, in public and private offerings of securities, loan transactions and other financing transactions. He also represents companies in mergers and acquisitions and regularly advises clients in connection with public disclosure and corporate matters. He is Co-Head of the Venture Capital & Growth Equity Practice, where he dedicates significant time to providing commercial and strategic advice to startup, early‑stage and founder‑led companies and investors in such companies. Clients regularly seek his counsel for the practical, commercial advice he offers with respect to their most challenging matters.
In addition to traditional capital markets offerings and banking transactions, Mr. Dorsey’s financing practice includes advising on liability management transactions, asset- and royalty-based financings and securitizations. He has extensive cross‑border experience and counts multiple international companies and financial institutions among his diverse client base.
Notable work highlights include:
- IPOs, direct listings, SPAC combinations and spin-offs for companies such as Alliant Techsystems (ATK), Cano Health, Climate Transition Capital Acquisition I, Costamare, DRI Healthcare Trust, On, Palantir, SciPlay, Swvl, Vaxxinity, Vista Outdoor and Younited
- Public and private equity financings for companies such as Akorn, Beacon Roofing Supply, Credit Suisse, DRI Healthcare Trust, Forterra, Hewlett Packard Enterprise, Oddity, Orcosa, PG&E, PNC, Replimune and Swvl
- Investor representations such as DMGT in the $8.1 billion business combination of Cazoo and AJAX I SPAC; Prosus in its $500 million PIPE investment in connection with Churchill II SPAC’s $1.5 billion merger with Skillsoft and acquisition of Global Knowledge; Richemont in its $1.1 billion PIPE investment in Farfetch, in partnership with Alibaba; Shaolin Capital Management in its $50 million PIPE investment in connection with the business combination of Bitcoin Depot and GSR II Meteora Acquisition Corp.; a large investor in connection with the $5.1 billion IPO of Lineage; DRI Capital and its affiliates in multiple matters, including equity investments and acquisitions of traditional and synthetic royalty interests; and a variety of venture capital firms, corporate venture capital departments and angel investors in investments of all sizes
- Debt offerings for companies such as Beacon Roofing Supply, CBRE, Chemours, Corteva, Credit Acceptance, Credit Suisse, Disney, Expedia, Graham Holdings, Hewlett Packard Enterprise, HP, Lazard, Navistar, Nestlé, Occidental Petroleum, Outbrain, Parker‑Hannifin, PG&E and Sherwin‑Williams
- Banking and credit transactions for companies such as Bay Club, Beacon Roofing Supply, Centene, The Collective, Outbrain, PG&E, RedHill Biopharma and WiLine Networks
- Accounts-receivable financings, securitizations and other structured financings for companies such as Albemarle, Amentum, Citibank Credit Card Issuance Trust, Corteva, Crown Castle, Drug Royalty, Ferroglobe, INEOS, Martin Marietta, Mylan, Occidental Petroleum, Olin, RedHill Biopharma and US Foods
- PG&E’s tri‑tranche offering, which represents the largest utility public equity offering in history, as well as the arrangement of its Debtor‑in‑Possession (“DIP”) financing and other advisory matters relating to its chapter 11 proceedings
Mr. Dorsey has been recognized for his work in capital markets by Chambers USA, Chambers Global, The Legal 500 US, IFLR1000 and Lawdragon. He has been named to Bloomberg Law’s “40 Under 40” list and was named the “Equity Capital Markets Lawyer of the Year” by IFLR1000 in its United States Awards and a “Rising Star” by Law360, recognizing him as one of five outstanding capital markets lawyers in the nation under the age of 40. Mr. Dorsey’s representations of the Founders of Palantir in the company’s direct listing and PG&E in its $5.5 billion DIP financing have been featured as the “Equity Capital Markets Deal of the Year” and “Banking and Finance Deal of the Year,” respectively, by IFLR1000.
Mr. Dorsey is a frequent speaker and author on a range of finance topics. He has authored the U.S. Law & Practice chapter of the Chambers Venture Capital Guide and served as Contributing Editor of multiple editions of the Chambers Acquisition Finance Guide. In addition, Mr. Dorsey authored the “Special Considerations for Non-EU Issuers” chapter in the Third Edition of European Securities Law and co‑authored an article entitled “SPAC Transactions in the United States” in The Legal 500’s “Mergers & Acquisitions Country Comparative Guide.” He has spoken at events such as the International Bar Association’s “From Start‑Up to IPO,” “Global Entrepreneurship” and “Silicon Hills – the Tech Epicentre of Texas: from Start-Up to Exit” conferences, the Practising Law Institute’s “Institute on Securities Regulation,” TechGC’s First-Time GC Summit and Cornell Tech’s Board of Directors Forum.
Mr. Dorsey is a member of the International Bar Association and serves as the Entrepreneurship Conference Know‑How Officer of the Closely Held Companies Committee.
Mr. Dorsey was born in Canton, Ohio. He received a B.S. and M.Acc. summa cum laude from Case Western Reserve University in 2006 and a J.D. summa cum laude from Cornell Law School in 2009, where he was a Notes Editor of the Law Review and was elected to the Order of the Coif.
Mr. Dorsey joined Cravath in 2009 and was elected a partner in 2017. He worked in the Firm’s London office from 2011 to 2013 and is currently based in the Firm’s New York office.
In addition to traditional capital markets offerings and banking transactions, Mr. Dorsey’s financing practice includes advising on liability management transactions, asset- and royalty-based financings and securitizations. He has extensive cross‑border experience and counts multiple international companies and financial institutions among his diverse client base.
Notable work highlights include:
- IPOs, direct listings, SPAC combinations and spin-offs for companies such as Alliant Techsystems (ATK), Cano Health, Climate Transition Capital Acquisition I, Costamare, DRI Healthcare Trust, On, Palantir, SciPlay, Swvl, Vaxxinity, Vista Outdoor and Younited
- Public and private equity financings for companies such as Akorn, Beacon Roofing Supply, Credit Suisse, DRI Healthcare Trust, Forterra, Hewlett Packard Enterprise, Oddity, Orcosa, PG&E, PNC, Replimune and Swvl
- Investor representations such as DMGT in the $8.1 billion business combination of Cazoo and AJAX I SPAC; Prosus in its $500 million PIPE investment in connection with Churchill II SPAC’s $1.5 billion merger with Skillsoft and acquisition of Global Knowledge; Richemont in its $1.1 billion PIPE investment in Farfetch, in partnership with Alibaba; Shaolin Capital Management in its $50 million PIPE investment in connection with the business combination of Bitcoin Depot and GSR II Meteora Acquisition Corp.; a large investor in connection with the $5.1 billion IPO of Lineage; DRI Capital and its affiliates in multiple matters, including equity investments and acquisitions of traditional and synthetic royalty interests; and a variety of venture capital firms, corporate venture capital departments and angel investors in investments of all sizes
- Debt offerings for companies such as Beacon Roofing Supply, CBRE, Chemours, Corteva, Credit Acceptance, Credit Suisse, Disney, Expedia, Graham Holdings, Hewlett Packard Enterprise, HP, Lazard, Navistar, Nestlé, Occidental Petroleum, Outbrain, Parker‑Hannifin, PG&E and Sherwin‑Williams
- Banking and credit transactions for companies such as Bay Club, Beacon Roofing Supply, Centene, The Collective, Outbrain, PG&E, RedHill Biopharma and WiLine Networks
- Accounts-receivable financings, securitizations and other structured financings for companies such as Albemarle, Amentum, Citibank Credit Card Issuance Trust, Corteva, Crown Castle, Drug Royalty, Ferroglobe, INEOS, Martin Marietta, Mylan, Occidental Petroleum, Olin, RedHill Biopharma and US Foods
- PG&E’s tri‑tranche offering, which represents the largest utility public equity offering in history, as well as the arrangement of its Debtor‑in‑Possession (“DIP”) financing and other advisory matters relating to its chapter 11 proceedings
Mr. Dorsey has been recognized for his work in capital markets by Chambers USA, Chambers Global, The Legal 500 US, IFLR1000 and Lawdragon. He has been named to Bloomberg Law’s “40 Under 40” list and was named the “Equity Capital Markets Lawyer of the Year” by IFLR1000 in its United States Awards and a “Rising Star” by Law360, recognizing him as one of five outstanding capital markets lawyers in the nation under the age of 40. Mr. Dorsey’s representations of the Founders of Palantir in the company’s direct listing and PG&E in its $5.5 billion DIP financing have been featured as the “Equity Capital Markets Deal of the Year” and “Banking and Finance Deal of the Year,” respectively, by IFLR1000.
Mr. Dorsey is a frequent speaker and author on a range of finance topics. He has authored the U.S. Law & Practice chapter of the Chambers Venture Capital Guide and served as Contributing Editor of multiple editions of the Chambers Acquisition Finance Guide. In addition, Mr. Dorsey authored the “Special Considerations for Non-EU Issuers” chapter in the Third Edition of European Securities Law and co‑authored an article entitled “SPAC Transactions in the United States” in The Legal 500’s “Mergers & Acquisitions Country Comparative Guide.” He has spoken at events such as the International Bar Association’s “From Start‑Up to IPO,” “Global Entrepreneurship” and “Silicon Hills – the Tech Epicentre of Texas: from Start-Up to Exit” conferences, the Practising Law Institute’s “Institute on Securities Regulation,” TechGC’s First-Time GC Summit and Cornell Tech’s Board of Directors Forum.
Mr. Dorsey is a member of the International Bar Association and serves as the Entrepreneurship Conference Know‑How Officer of the Closely Held Companies Committee.
Mr. Dorsey was born in Canton, Ohio. He received a B.S. and M.Acc. summa cum laude from Case Western Reserve University in 2006 and a J.D. summa cum laude from Cornell Law School in 2009, where he was a Notes Editor of the Law Review and was elected to the Order of the Coif.
Mr. Dorsey joined Cravath in 2009 and was elected a partner in 2017. He worked in the Firm’s London office from 2011 to 2013 and is currently based in the Firm’s New York office.
Education
-
J.D., 2009, Cornell Law SchoolOrder of the Coif, summa cum laude
-
M.Acc., 2006, Case Western Reserve Universitysumma cum laude
-
B.S., 2006, Case Western Reserve Universitysumma cum laude
Admitted In
- New York
Professional Affiliations
International Bar Association
- Entrepreneurship Conference Know-How Officer, Closely Held Companies Committee
New York City Bar Association
New York State Bar Association
Rankings
Bloomberg Law
- They’ve Got Next: The 40 Under 40 (2023)
Chambers Global
- Capital Markets: Debt & Equity - USA (2025-2022)
Chambers USA
- Capital Markets: Debt & Equity - Nationwide (2024-2021)
IFLR1000
- Banking - US (2024-2021)
- Capital Markets - US (2024-2020)
- Equity Capital Markets Lawyer of the Year - US (2021)
- Mergers and Acquisitions - US (2020)
Law360
- Rising Star: Capital Markets (2019)
Lawdragon
- 500 Leading Dealmakers in America (2024)
The Legal 500 US
- Capital Markets: Debt Offerings (2024-2019)
- Capital Markets: Equity Offerings (2024-2020)
- Capital Markets: Global Offerings (2024, 2023, 2022)
Deals & Cases
March 14, 2025
Credit Acceptance Corporation’s High‑Yield Senior Notes Offering
Cravath represented the initial purchasers in connection with the $500 million Rule 144A high‑yield senior notes offering of Credit Acceptance Corporation, a leading independent auto finance company. The transaction closed on February 28, 2025.
Deals & Cases
February 25, 2025
OT Midco Inc.’s High‑Yield Senior Secured Notes Offering
Cravath represented OT Midco Inc. in connection with its $637.5 million 144A/Reg. S high‑yield senior secured notes offering. OT Midco Inc. is a wholly owned subsidiary of Outbrain Inc., a leading technology platform that connects media owners and advertisers to over a billion unique consumers around the world. Proceeds of the offering were used to repay, in full, the bridge facility used to finance Outbrain Inc.’s acquisition of Teads S.A. The transaction closed on February 11, 2025.
Deals & Cases
February 03, 2025
Outbrain’s Acquisition of Teads
On February 3, 2025, Outbrain Inc. (“Outbrain”), a technology platform, announced the closing of its acquisition of Teads, a global omnichannel platform, from Altice. The two companies will merge their offerings to create an omnichannel outcomes platform for the open internet, and will operate under the name Teads. Outbrain, Altice and Teads have amended the previously announced share purchase agreement. Under the terms of the revised agreement, Outbrain will be paying a total consideration of approximately $900 million, consisting of $625 million upfront cash and 43.75 million shares of common stock of Outbrain valued at approximately $263 million. Cravath is representing Outbrain in connection with the transaction.
Deals & Cases
January 06, 2025
Disney’s Combination of its Hulu + Live TV Business with Fubo
On January 6, 2025, The Walt Disney Company (“Disney”) and FuboTV Inc. (“Fubo) announced that they have entered into a definitive agreement for Disney to combine its Hulu + Live TV business with Fubo, forming a combined virtual MVPD company of which Disney will become the majority owner.
Deals & Cases
November 04, 2024
DRI Healthcare Trust’s Acquisition of a Synthetic Royalty Interest in the Worldwide Sales of Sebetralstat and Equity Investment in KalVista Pharmaceuticals
On November 4, 2024, DRI Healthcare Trust (“the Trust”), a global leader in providing financing to advance innovation in the life sciences industry, announced it has acquired a royalty interest in the worldwide net sales of all formulations of sebetralstat, an investigational oral plasma kallikrein inhibitor for the treatment of Hereditary Angioedema, from KalVista Pharmaceuticals ("KalVista") for an aggregate purchase price of up to $179 million, comprised of a $100 million upfront payment, up to $57 million in a sales-based milestone payment and a one-time $22 million optional payment. Additionally, the Trust is making a $5 million investment in KalVista’s common stock in a private placement transaction. Cravath is representing DRI Healthcare Trust in connection with the transaction.
Activities
March 28, 2025
Dave Kappos, Noah Phillips and Nick Dorsey Speak at Cornell Tech’s Board of Directors Forum
Cravath partners David J. Kappos, Noah Joshua Phillips and Nicholas A. Dorsey participated in Cornell Tech’s Board of Directors Forum, which was held from March 26‑27, 2025 in New York. The forum, designed for board members and senior leaders, convened business and legal practitioners, Cornell faculty, former senior government regulators and directors of private and public companies to discuss how corporate boards can stay ahead of developing technologies, regulatory trends and geopolitical shifts.
Activities
March 06, 2025
Nick Dorsey and Kelly Smercina Speak at NOVA and CFGI’s US – IPO Readiness Event
On March 6, 2025, Cravath partners Nicholas A. Dorsey and Kelly M. Smercina participated in NOVA and CFGI’s US – IPO Readiness event, which was hosted by BNY in London. The event convened representatives of the four organizations for a training session on IPO readiness in U.S. capital markets, covering the IPO process and timeline, team and organizational setup and legal considerations.
Activities
February 18, 2025
Nick Dorsey Speaks at IBA’s 6th Silicon Hills Conference
On February 13, 2025, Cravath partner Nicholas A. Dorsey participated in the International Bar Association’s 6th Silicon Hills Conference – the Tech Epicentre of Texas: from Start‑Up to Exit, which was held from February 12‑14 in Austin, Texas. Nick spoke on a panel entitled “Investing in Tech Startups. Is it Still Worth it?,” which explored investors’ skepticism around tech startups, the current and future M&A environment’s effect on exit valuations, the regulatory environment’s effect on international startup investments and whether investors should look to ventures beyond the tech industry.
Publications
February 06, 2025
Cravath Venture Capital & Growth Equity Insights: 2024 Recap and 2025 Outlook
On February 5, 2025, Cravath published the latest edition of its Cravath Venture Capital & Growth Equity Insights newsletter (formerly the Cravath Emerging Company and Venture Capital Insights newsletter), entitled “2024 Recap and 2025 Outlook.” The newsletter provides an overview of global venture capital and related activity during the second half of 2024 and examines emerging fundraising opportunities, key exit trends and increasing secondaries markets activity; offers insights on artificial intelligence investment and cryptocurrency valuation; and provides updates on regulatory developments.
Activities
November 13, 2024
Scott Bennett and Nick Dorsey Participate in CFGI Webcast on US Listings by Foreign Private Issuers
On November 13, 2024, Cravath partners D. Scott Bennett and Nicholas A. Dorsey participated in a webcast entitled “Navigating the Market for Foreign Private Issuers: Unpacking Regulatory Challenges for FPIs in Today’s Economic Landscape,” which was hosted by global accounting and business advisory firm CFGI. During the webcast, Scott and Nick discussed the regulatory and economic challenges faced by foreign private issuers in today's complex financial landscape and the critical issues influencing foreign entities seeking to navigate the U.S. capital markets.
Cravath Bicentennial
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