Cravath’s New York Office Moves to Two Manhattan West
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, 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 $4.44 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, 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 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” and “Global Entrepreneurship” conferences, the Practising Law Institute’s “Institute on Securities Regulation” and TechGC’s First-Time GC Summit.
Mr. Dorsey is a member of the International Bar Association and serves as the North American Regional Forum Liaison 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, 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 $4.44 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, 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 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” and “Global Entrepreneurship” conferences, the Practising Law Institute’s “Institute on Securities Regulation” and TechGC’s First-Time GC Summit.
Mr. Dorsey is a member of the International Bar Association and serves as the North American Regional Forum Liaison 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
- North American Regional Forum Liaison 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 (2024, 2023, 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
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.
Deals & Cases
October 11, 2024
Hewlett Packard Enterprise Company’s $9 Billion Registered Senior Notes Offering
Cravath represented the underwriters in connection with the $9 billion registered senior notes offering of Hewlett Packard Enterprise Company, an industry leading technology company. Proceeds of the offering were used to finance the acquisition of Juniper Networks, Inc. The transaction closed on September 26, 2024.
Deals & Cases
October 07, 2024
Iris Financial’s Combination with Younited
On October 7, 2024, Iris Financial, a Euronext Amsterdam-listed company focused on the financial services sector, and Younited S.A. (“Younited”), a leading European consumer credit business, announced they have signed a business combination agreement. Iris Financial will inject between €150 and €200 million of capital into Younited in consideration for newly-issued shares of Younited. At completion of the Combination (prior to the share capital increase), Iris Financial will own at least 95% of Younited, with any remaining Younited shares to be acquired by Iris after completion pursuant to drag-along provisions contained in Younited’s existing shareholder agreement and upon the exercise of put-call rights by Iris or certain historical Younited shareholders. Iris Financial will be renamed “Younited Financial” and will remain listed on Euronext Amsterdam while applying for an additional listing on Euronext Paris. Cravath is representing Iris Financial as U.S. counsel in connection with the transaction.
Deals & Cases
October 04, 2024
DRI Healthcare Trust’s Acquisition of Payment Streams Based on the Cas9 Gene‑Editing Technology for CASGEVY®
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.
Deals & Cases
September 27, 2024
Hewlett Packard Enterprise Company’s $1.5 Billion Offering of Mandatory Convertible Preferred Stock
Cravath represented the underwriters in connection with the $1.5 billion offering of mandatory convertible preferred stock of Hewlett Packard Enterprise Company, an industry‑leading technology company. Proceeds of the offering were used to finance the acquisition of Juniper Networks, Inc. The transaction closed on September 13, 2024.
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.
Activities
September 23, 2024
Alyssa Caples, Maggie Segall, Nick Dorsey, Dan Haaren and Bethany Pfalzgraf Speak at IBA’s 2024 Annual Conference
Cravath partners Alyssa K. Caples, Margaret T. Segall, Nicholas A. Dorsey, C. Daniel Haaren and Bethany A. Pfalzgraf spoke at the International Bar Association’s 2024 Annual Conference, which was held September 15‑20 in Mexico City and convened legal professionals from across the globe.
Publications
June 25, 2024
Nick Dorsey, Ryan Patrone, Kelly Smercina and Margaret Rallings Contribute to the 2024 Chambers Acquisition Finance Guide
Cravath partner Nicholas A. Dorsey served as the co‑editor of the 2024 edition of the Chambers Acquisition Finance Guide, which is part of the publisher’s Global Practice Guide series. Nick also co‑authored, along with Cravath partners Ryan J. Patrone and Kelly M. Smercina and European Counsel Margaret R. M. Rallings, the U.S. chapter of the guide.
Publications
June 06, 2024
Nick Dorsey and Virginia Anderson Co‑Author U.S. Chapter of 2024 Chambers Venture Capital Guide
Cravath partner Nicholas A. Dorsey and of counsel Virginia M. Anderson co‑authored the U.S. Law & Practice chapter of the Chambers Venture Capital Guide, which was published in May 2024. The guide, which is part of the publisher’s Global Practice Guides series, provides the latest legal information on trends in the venture capital market; fund structures, economics and regulation; investments in VC companies; government subsidies and tax; and employee incentivization in the 20 jurisdictions covered. The U.S. Law & Practice chapter examined the increase in U.S. venture capital funding in artificial intelligence in 2023; the emergence of “down round” raises, bridge financing solutions and alternative financing solutions for companies that have faced financing challenges; typical venture capital fund structure in the U.S.; and more.
Activities
May 24, 2024
Scott Bennett and Nick Dorsey Speak at NYSE Event on U.S. Listing Considerations
On May 23, 2024, Cravath partners D. Scott Bennett and Nicholas A. Dorsey participated in “NYSE’s Roadmap to Wall Street: Considerations for a U.S. Listing,” an event co-hosted by Cravath, the New York Stock Exchange, CFGI and ICR in London. The program convened senior capital markets thought leaders to discuss U.S. listing considerations for UK and European companies, including market trends and legal considerations. Nick and Scott delivered a presentation entitled “Anatomy and Chronology of a U.S. Listing,” which reviewed a traditional IPO timeline; how to determine if an IPO company qualifies as an emerging growth company; potential exemptions for foreign private issuers; and key considerations for preparing an IPO prospectus.
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, 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 $4.44 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, 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 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” and “Global Entrepreneurship” conferences, the Practising Law Institute’s “Institute on Securities Regulation” and TechGC’s First-Time GC Summit.
Mr. Dorsey is a member of the International Bar Association and serves as the North American Regional Forum Liaison 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, 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 $4.44 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, 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 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” and “Global Entrepreneurship” conferences, the Practising Law Institute’s “Institute on Securities Regulation” and TechGC’s First-Time GC Summit.
Mr. Dorsey is a member of the International Bar Association and serves as the North American Regional Forum Liaison 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
- North American Regional Forum Liaison 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 (2024, 2023, 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
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.
Deals & Cases
October 11, 2024
Hewlett Packard Enterprise Company’s $9 Billion Registered Senior Notes Offering
Cravath represented the underwriters in connection with the $9 billion registered senior notes offering of Hewlett Packard Enterprise Company, an industry leading technology company. Proceeds of the offering were used to finance the acquisition of Juniper Networks, Inc. The transaction closed on September 26, 2024.
Deals & Cases
October 07, 2024
Iris Financial’s Combination with Younited
On October 7, 2024, Iris Financial, a Euronext Amsterdam-listed company focused on the financial services sector, and Younited S.A. (“Younited”), a leading European consumer credit business, announced they have signed a business combination agreement. Iris Financial will inject between €150 and €200 million of capital into Younited in consideration for newly-issued shares of Younited. At completion of the Combination (prior to the share capital increase), Iris Financial will own at least 95% of Younited, with any remaining Younited shares to be acquired by Iris after completion pursuant to drag-along provisions contained in Younited’s existing shareholder agreement and upon the exercise of put-call rights by Iris or certain historical Younited shareholders. Iris Financial will be renamed “Younited Financial” and will remain listed on Euronext Amsterdam while applying for an additional listing on Euronext Paris. Cravath is representing Iris Financial as U.S. counsel in connection with the transaction.
Deals & Cases
October 04, 2024
DRI Healthcare Trust’s Acquisition of Payment Streams Based on the Cas9 Gene‑Editing Technology for CASGEVY®
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.
Deals & Cases
September 27, 2024
Hewlett Packard Enterprise Company’s $1.5 Billion Offering of Mandatory Convertible Preferred Stock
Cravath represented the underwriters in connection with the $1.5 billion offering of mandatory convertible preferred stock of Hewlett Packard Enterprise Company, an industry‑leading technology company. Proceeds of the offering were used to finance the acquisition of Juniper Networks, Inc. The transaction closed on September 13, 2024.
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.
Activities
September 23, 2024
Alyssa Caples, Maggie Segall, Nick Dorsey, Dan Haaren and Bethany Pfalzgraf Speak at IBA’s 2024 Annual Conference
Cravath partners Alyssa K. Caples, Margaret T. Segall, Nicholas A. Dorsey, C. Daniel Haaren and Bethany A. Pfalzgraf spoke at the International Bar Association’s 2024 Annual Conference, which was held September 15‑20 in Mexico City and convened legal professionals from across the globe.
Publications
June 25, 2024
Nick Dorsey, Ryan Patrone, Kelly Smercina and Margaret Rallings Contribute to the 2024 Chambers Acquisition Finance Guide
Cravath partner Nicholas A. Dorsey served as the co‑editor of the 2024 edition of the Chambers Acquisition Finance Guide, which is part of the publisher’s Global Practice Guide series. Nick also co‑authored, along with Cravath partners Ryan J. Patrone and Kelly M. Smercina and European Counsel Margaret R. M. Rallings, the U.S. chapter of the guide.
Publications
June 06, 2024
Nick Dorsey and Virginia Anderson Co‑Author U.S. Chapter of 2024 Chambers Venture Capital Guide
Cravath partner Nicholas A. Dorsey and of counsel Virginia M. Anderson co‑authored the U.S. Law & Practice chapter of the Chambers Venture Capital Guide, which was published in May 2024. The guide, which is part of the publisher’s Global Practice Guides series, provides the latest legal information on trends in the venture capital market; fund structures, economics and regulation; investments in VC companies; government subsidies and tax; and employee incentivization in the 20 jurisdictions covered. The U.S. Law & Practice chapter examined the increase in U.S. venture capital funding in artificial intelligence in 2023; the emergence of “down round” raises, bridge financing solutions and alternative financing solutions for companies that have faced financing challenges; typical venture capital fund structure in the U.S.; and more.
Activities
May 24, 2024
Scott Bennett and Nick Dorsey Speak at NYSE Event on U.S. Listing Considerations
On May 23, 2024, Cravath partners D. Scott Bennett and Nicholas A. Dorsey participated in “NYSE’s Roadmap to Wall Street: Considerations for a U.S. Listing,” an event co-hosted by Cravath, the New York Stock Exchange, CFGI and ICR in London. The program convened senior capital markets thought leaders to discuss U.S. listing considerations for UK and European companies, including market trends and legal considerations. Nick and Scott delivered a presentation entitled “Anatomy and Chronology of a U.S. Listing,” which reviewed a traditional IPO timeline; how to determine if an IPO company qualifies as an emerging growth company; potential exemptions for foreign private issuers; and key considerations for preparing an IPO prospectus.
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