Robinhood’s $3.4 Billion Capital Raise
February 25, 2021
Cravath represented Robinhood in connection with its $3.4 billion capital raise in the first quarter of 2021, which Robinhood used to continue to invest in customer growth. Robinhood’s mission is to democratize finance for all, and it offers commission‑free investing and other financial services.
The Cravath team included partners Mark I. Greene, Andrew J. Pitts, D. Scott Bennett and C. Daniel Haaren and associates Claudia J. Ricciardi, Ellen H. Park, Shu‑en Wee and Margaret R. Fleming. Glory P. James also worked on the matter.
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People
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J.D., 1993, University of Pennsylvania Law School
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B.A., 1989, Cornell University
- New York
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M.B.A., 1995, Boston Universitywith High Honors
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J.D., 1994, Boston University School of Lawsumma cum laude
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B.A., 1988, Trinity College
- New York
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J.D., 2006, Emory University School of Law
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B.A., 2002, Duke University
- New York
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J.D., 2012, New York University School of LawOrder of the Coif, Pomeroy Scholar, magna cum laude
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B.A., 2009, Duke University
- New York
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J.D., 2015, Harvard Law Schoolcum laude
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B.A., 2012, University of PennsylvaniaPhi Beta Kappa, summa cum laude
- New York
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Related News & Insights
Deals & Cases
November 19, 2024
Robinhood’s Acquisition of TradePMR
On November 19, 2024, Robinhood Markets, Inc. (“Robinhood”) announced that it has entered into an agreement to acquire TradePMR, a custodial and portfolio management platform for Registered Investment Advisors. Final deal consideration is expected to be approximately $300 million, subject to customary purchase price adjustments, consisting of a mix of cash and stock. Cravath is representing Robinhood in connection with the transaction.
Deals & Cases
November 15, 2023
Robinhood Defeats Certification of Proposed Class Asserting Securities Claims in Sprawling “Meme Stock” Litigation
On November 13, 2023, the U.S. District Court for the Southern District of Florida denied plaintiffs’ motion to certify a class asserting market manipulation claims under the federal securities laws against Cravath clients Robinhood Markets, Inc., Robinhood Financial LLC and Robinhood Securities, LLC (together, “Robinhood”).
Deals & Cases
September 01, 2023
Robinhood’s Purchase of Shares, Previously Owned by Emergent Fidelity Technologies, from U.S. Marshals Service
Cravath represented Robinhood Markets, Inc. (“Robinhood”) in its Share Purchase Agreement (the “Share Purchase Agreement”) with the United States Marshals Service (the “USMS”), acting for and on behalf of the United States, pursuant to which Robinhood agreed to purchase 55,273,469 shares of the company’s Class A common stock (the “Shares”) from the USMS for an aggregate purchase price of $605,694,411.59, or approximately $10.96 per share. The transaction closed on August 31, 2023.
