The Cravath, Swaine & Moore LLP equity capital markets practice advises issuers and underwriters across the full range of equity offerings including initial public offerings, secondary offerings, equity-linked transactions and related derivatives matters. The New York-based practice is led by Craig Arcella and Andrew Pitts. Arcella focuses on IPOs, liability management transactions, as well as investment-grade and convertible bond offerings. Corporate finance specialist Pitts is particularly noted for his work on convertible and other equity-linked securities transactions. William Fogg retired in March 2026.
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Accolades
Client satisfaction: Lawyer & team quality
Client satisfaction: Billing & efficiency
Client satisfaction: Sector knowledge
Key clients
- ADT
- Alliance Laundry
- Amentum
- American National Group
- PG&E
Work highlights
Represented Alliance Laundry Holdings Inc in connection with its $950.29 million initial public offering of common stock.
Represented the underwriters in the $571.9 million initial public offering of common stock of Smithfield Foods.
Represented the underwriters in the $683.6 million common stock offering of Galaxy Digital, its first underwritten public offering as a Nasdaq-listed company, and the initial purchasers in connection with the $1.3billion upsized Rule 144A offering of exchangeable senior notes of Galaxy Digital.
Lawyers
Leading partners
The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.
Scott Bennett
Practice head
Craig Arcella; Andrew Pitts