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. Additionally, Mr. Dorsey dedicates a significant portion of his practice 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 and asset 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:
Mr. Dorsey has been recognized for his work in capital markets by Chambers USA, Chambers Global, The Legal 500 US and IFLR1000. 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 and asset 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:
Mr. Dorsey has been recognized for his work in capital markets by Chambers USA, Chambers Global, The Legal 500 US and IFLR1000. 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.
International Bar Association
New York City Bar Association
New York State Bar Association
Bloomberg Law
Chambers Global
Chambers USA
IFLR1000
Law360
The Legal 500 US
Deals & Cases
August 01, 2024
On August 1, 2024, Outbrain, a technology platform that drives business outcomes through engagement, announced it has entered into a definitive agreement to acquire Teads, the global omnichannel video platform, from Altice. Total estimated consideration for the Teads acquisition is approximately $1 billion, on a cash free, debt free basis, including an upfront payment of $725 million, subject to standard adjustments, and a deferred cash payment of $25 million. Outbrain intends to finance the transaction with existing cash resources and $750 million in committed debt financing, subject to customary funding conditions. Outbrain will also issue to Altice 35 million shares of common stock, valued at approximately $169 million based on a one‑month volume‑weighted average price of Outbrain’s common stock as of July 30, 2024, of $4.82, and $105 million in convertible preferred equity. Additionally, Outbrain obtained commitments for a $100 million revolving credit facility, a portion of which will be available to pay a portion of the cash consideration for the transaction and related fees and expenses, and which will otherwise be available for working capital and general corporate purposes. Cravath is representing Outbrain in connection with the financing of the transaction.
Deals & Cases
March 26, 2024
Cravath represented Lazard Group LLC in connection with its $400 million registered senior notes offering and concurrent cash tender offer. Lazard is one of the world’s preeminent financial advisory and asset management firms. The registered senior notes offering closed on March 12, 2024 and the cash tender offer expired on March 12, 2024.
Deals & Cases
March 21, 2024
Cravath represented ODDITY Tech Ltd. (“ODDITY”) in connection with the $239 million registered secondary offering of ODDITY’s class A ordinary shares by a fund managed by L Catterton. ODDITY is a consumer tech company that builds and scales digital‑first brands for the beauty and wellness industries in the United States and internationally. ODDITY owns IL MAKIAGE and SpoiledChild. The shares were listed on the NASDAQ Global Market. The transaction closed on March 19, 2024.
Deals & Cases
March 12, 2024
Cravath represented Nestlé Capital Corporation in connection with its $2.5 billion 144A/Reg. S notes offering, guaranteed by Nestlé S.A, the world's largest food and beverage company. The transaction closed on March 12, 2024.
Deals & Cases
March 08, 2024
Cravath represented the underwriters in connection with the $500 million registered senior notes offering of CBRE Services, Inc., a direct wholly‑owned subsidiary of CBRE Group, Inc. CBRE is the world’s largest commercial real estate services and investment firm, based on 2022 revenue. The transaction closed on February 23, 2024.
Activities & Publications
June 25, 2024
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.
Activities & Publications
June 06, 2024
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 & Publications
May 24, 2024
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.
Activities & Publications
May 16, 2024
On May 14, 2024, Cravath partner Nicholas A. Dorsey participated in the International Bar Association’s 8th annual Global Entrepreneurship Conference, which was held from May 13‑14, 2024, in Madrid, Spain. Nick co‑chaired a workshop entitled “Selected Financing and Other Topics Relevant for Closely Held Companies,” which examined artificial intelligence and big data; blockchain technology and digital assets; foreign direct investment controls; current sectors, including digital health, energy/renewables and fintech; and trends in private equity and venture capital.
Activities & Publications
February 08, 2024
On January 29, 2024, Cravath prepared a memo for its clients entitled “SEC Adopts New Rules and Amendments for SPACs, Shell Companies and Projections.” The memo examines the U.S. Securities and Exchange Commission’s recently adopted rules and amendments to enhance disclosures and provide additional investor protections in connection with initial public offerings by special purpose acquisition companies and in subsequent business combination transactions between SPACs and target companies. The memo outlines the new requirements related to forward‑looking statements and projections, compliance dates, key takeaways for companies and more.
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. Additionally, Mr. Dorsey dedicates a significant portion of his practice 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 and asset 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:
Mr. Dorsey has been recognized for his work in capital markets by Chambers USA, Chambers Global, The Legal 500 US and IFLR1000. 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 and asset 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:
Mr. Dorsey has been recognized for his work in capital markets by Chambers USA, Chambers Global, The Legal 500 US and IFLR1000. 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.
International Bar Association
New York City Bar Association
New York State Bar Association
Bloomberg Law
Chambers Global
Chambers USA
IFLR1000
Law360
The Legal 500 US
Deals & Cases
August 01, 2024
On August 1, 2024, Outbrain, a technology platform that drives business outcomes through engagement, announced it has entered into a definitive agreement to acquire Teads, the global omnichannel video platform, from Altice. Total estimated consideration for the Teads acquisition is approximately $1 billion, on a cash free, debt free basis, including an upfront payment of $725 million, subject to standard adjustments, and a deferred cash payment of $25 million. Outbrain intends to finance the transaction with existing cash resources and $750 million in committed debt financing, subject to customary funding conditions. Outbrain will also issue to Altice 35 million shares of common stock, valued at approximately $169 million based on a one‑month volume‑weighted average price of Outbrain’s common stock as of July 30, 2024, of $4.82, and $105 million in convertible preferred equity. Additionally, Outbrain obtained commitments for a $100 million revolving credit facility, a portion of which will be available to pay a portion of the cash consideration for the transaction and related fees and expenses, and which will otherwise be available for working capital and general corporate purposes. Cravath is representing Outbrain in connection with the financing of the transaction.
Deals & Cases
March 26, 2024
Cravath represented Lazard Group LLC in connection with its $400 million registered senior notes offering and concurrent cash tender offer. Lazard is one of the world’s preeminent financial advisory and asset management firms. The registered senior notes offering closed on March 12, 2024 and the cash tender offer expired on March 12, 2024.
Deals & Cases
March 21, 2024
Cravath represented ODDITY Tech Ltd. (“ODDITY”) in connection with the $239 million registered secondary offering of ODDITY’s class A ordinary shares by a fund managed by L Catterton. ODDITY is a consumer tech company that builds and scales digital‑first brands for the beauty and wellness industries in the United States and internationally. ODDITY owns IL MAKIAGE and SpoiledChild. The shares were listed on the NASDAQ Global Market. The transaction closed on March 19, 2024.
Deals & Cases
March 12, 2024
Cravath represented Nestlé Capital Corporation in connection with its $2.5 billion 144A/Reg. S notes offering, guaranteed by Nestlé S.A, the world's largest food and beverage company. The transaction closed on March 12, 2024.
Deals & Cases
March 08, 2024
Cravath represented the underwriters in connection with the $500 million registered senior notes offering of CBRE Services, Inc., a direct wholly‑owned subsidiary of CBRE Group, Inc. CBRE is the world’s largest commercial real estate services and investment firm, based on 2022 revenue. The transaction closed on February 23, 2024.
Activities & Publications
June 25, 2024
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.
Activities & Publications
June 06, 2024
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 & Publications
May 24, 2024
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.
Activities & Publications
May 16, 2024
On May 14, 2024, Cravath partner Nicholas A. Dorsey participated in the International Bar Association’s 8th annual Global Entrepreneurship Conference, which was held from May 13‑14, 2024, in Madrid, Spain. Nick co‑chaired a workshop entitled “Selected Financing and Other Topics Relevant for Closely Held Companies,” which examined artificial intelligence and big data; blockchain technology and digital assets; foreign direct investment controls; current sectors, including digital health, energy/renewables and fintech; and trends in private equity and venture capital.
Activities & Publications
February 08, 2024
On January 29, 2024, Cravath prepared a memo for its clients entitled “SEC Adopts New Rules and Amendments for SPACs, Shell Companies and Projections.” The memo examines the U.S. Securities and Exchange Commission’s recently adopted rules and amendments to enhance disclosures and provide additional investor protections in connection with initial public offerings by special purpose acquisition companies and in subsequent business combination transactions between SPACs and target companies. The memo outlines the new requirements related to forward‑looking statements and projections, compliance dates, key takeaways for companies and more.
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