White & Case Represents Calpine in $228 Million Secondary Share Offering
New York,
October 12, 2009 ... Global law firm White & Case LLP has advised Calpine Corporation, a major US power company, in connection with the sale of 20,000,000 shares of its common stock in a registered public secondary offering by stockholder Harbinger Capital Partners Master Fund I, Ltd. and affiliates. White & Case also advised
Calpine in connection with a prior sale by Harbinger this year and a
high yield debt offering.
The shares were sold for $11.40 per share for aggregate proceeds of $228 million. The offering was conducted as a "bought deal" on September 25 and underwritten by Morgan Stanley.
"We are delighted to represent Calpine in this transaction and are pleased that the market continues to have strong demand for the company’s equity," said Michael Shenberg, White & Case partner who represents Calpine.
Calpine Corporation is a leading North American power company serving wholesale and industrial customers in the United States and Canada. It owns, leases, and operates low-carbon, natural gas-fired, and renewable geothermal power plants.
In addition to Shenberg, the White & Case team advising Calpine included partners Colin Diamond, Ian Cuillerier and Earle O'Donnell; counsel, Paul Milmed, Mark Hamilton, Tal Marnin and Laurel Glassman; and associates Stan Boris, Adela Cho, Michelle Huang, Jonathan Michels and Patrick Rosenthal.
About White & Case White & Case LLP is a leading global law firm with lawyers in 36 offices in 25 countries. Among the first US-based law firms to establish a truly global presence, we provide counsel and representation in virtually every area of law that affects cross-border business. Our clients value both the breadth of our global network and depth of our US, English and local law capabilities in each of our regions and rely on us for their complex cross-border transactions, arbitration and litigation provided by our global practices.
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