IAM Names Dave Kappos to List of 2025 Strategy 300 Global Leaders

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.

On November 13, 2024, Just Eat Takeaway.com N.V. (“Just Eat Takeaway.com”), one of the world’s leading global online food delivery companies, announced that it has entered into a definitive agreement to sell Grubhub Inc. (“Grubhub”) to Wonder Group, Inc. (“Wonder”) for an enterprise value of $650 million. Grubhub will be transferred with its $500 million of senior notes. Cravath is representing Just Eat Takeaway.com in connection with the transaction.

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.

On October 3, 2024, DRI Healthcare Trust, a global leader in providing financing to advance innovation in the life sciences industry, announced that one of its wholly owned subsidiaries acquired a portion of Editas Medicine, Inc.'s payment rights under a non‑exclusive license of Editas' Cas9 gene‑editing technology for CASGEVY®, the only approved gene‑edited cell therapy for sickle cell disease and transfusion‑dependent beta thalassemia, for an upfront purchase price of $57 million. The transaction entitles DRI Healthcare to specific payments based on a sublicensing agreement between Editas and Vertex Pharmaceuticals Incorporated. The payments include a share of the annual license fees that Vertex pays to Editas, which can range from $5 million to $40 million, including certain sales‑based annual license fee increases, and a portion of a $50 million contingent payment to which Editas is eligible under the Vertex sublicensing agreement. Cravath is representing DRI Healthcare in connection with the transaction.