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MoFo Represents Washington Gas Light Co. in $200M Senior Notes Offering

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Morrison Foerster represented Washington Gas Light Company in connection with its $200 million private offering consisting of (i) $25 million of its 5.25% Series 2022-A Notes due December 29, 2042 and (ii) $175 million of its 5.33% Series 2022-B Notes due December 29, 2052

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Morrison Foerster represented Washington Gas Light Company in connection with its $200 million private offering consisting of (i) $25 million of its 5.25% Series 2022-A Notes due December 29, 2042 and (ii) $175 million of its 5.33% Series 2022-B Notes due December 29, 2052.The placement agents for the offering were BofA Securities, Inc. and U.S. Bancorp Investments, Inc.The MoFo team, led by Washington, D.C. partner Scott Lesmes and of counsel Emily Beers, included D.C. associate Chris Rolle.

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Scott Lesmes chairs Morrison Foerster’s Public Company Advisory & Governance practice, and is a partner in the firm's Capital Markets practice. Scott focuses his practice on counseling clients with respect to corporate and securities matters. He advises publicly-listed companies and boards of directors on a broad range of securities regulation and corporate governance issues and has substantial experience in dealing with restatements and internal control concerns.Scott also counsels issuers and underwriters in the public offering process and in corporate compliance matters involving SEC reporting and disclosure requirements.Prior to his career in private law, Scott served as in-house counsel at two public companies. He worked extensively in establishing corporate compliance programs and policies, including those related to insider trading, Section 16, and corporate disclosure while serving as Chief Legal Officer for Allied Capital Corporation, a NYSE-listed business development company, as well as Deputy General Counsel/Chief Securities Counsel for Fannie Mae, a financial services company. Scott draws on his significant in-house experience to provide valuable perspective in his role as an outside advisor. Scott has received nationwide recognition for excellence in capital markets law. Legal 500 US recognizes Scott as "a key partner in the team [for debt offerings]" and acknowledges his "capital markets expertise. IFLR1000 distinguishes Scott as "highly regarded" in the areas of Capital markets: Debt and Capital markets: Equity, and U.S. News' Best Lawyers identifies him as a leading lawyer in Securities/Capital Markets Law.Scott currently serves as chair of Morrison & Foerster’s Practice and Opinion Review Committee, and as a co-chair of Practising Law Institute’s Annual Disclosure Documents program.

Scott Lesmes

Partner

Emily Beers is of counsel in Morrison Foerster’s Capital Markets and Public Company Advisory & Governance practices. Her practice focuses on representing publicly and privately held companies in a variety of corporate and securities law matters.Emily represents both issuers and investment banks in initial public offerings, follow-on offerings, and private placements, including offerings of common and preferred equity, investment-grade debt, convertible debt, and high-yield debt. Emily also regularly advises clients with respect to liability management transactions, including tender offers, as well as M&A transactions.In addition, Emily regularly counsels companies with respect to corporate governance issues, compliance with the U.S. federal securities laws, and the requirements of the New York Stock Exchange and NASDAQ, as well as general corporate matters.Emily is recognized in IFLR1000 for Capital Markets: Debt, Capital Markets: Equity, and M&A (2021).Prior to joining Morrison Foerster, Emily worked as an associate in the capital markets practices of other international law firms in New York and London.<h4>Representative Matters</h4><ul><li>Represented Sprint Corp. and SoftBank Group Corp., the controlling shareholder of Sprint, on the all- stock merger of Sprint and T-Mobile US Inc. The total implied enterprise value for Sprint in the transaction was approximately $59 billion and the aggregate for the combined company enterprise value was approximately $146 billion.</li><li>Represented onsemi (NASDAQ: ON) in its Rule 144A offering of $1.5 billion 0.5% Convertible Senior Notes due 2029; in its Rule 144A offering of $700 million 0% Convertible Senior Notes due 2027; and in its Rule 144A offering of $700 million 3.875% Senior Notes due 2028.</li><li>Represented The Chemours Company (NYSE: CC) in its Rule 144A offering of $650 million 4.625% Senior Notes due 2029; in its Rule 144A offering of $800 million 5.750% Senior Notes due 2028 and concurrent tender offers to purchase all or a portion of its outstanding Senior Notes and related consent solicitations; and in its registered offering of €450 million 4.000% Senior Notes due 2026 and concurrent tender offers to purchase all or a portion of its outstanding senior notes and related consent solicitations.</li><li>Represented McKesson Corporation (NYSE: MCK) in its registered offering of $500 million 5.250% Notes due 2026; in its registered offering of $500 million 1.300% Senior Notes due 2026 and related tender offer to repurchase a portion of its outstanding senior notes; and in its registered offerings of $700 million 3.650% Notes due 2020 and $400 million 4.750% Notes due 2029 and concurrent tender offers to purchase a portion of its outstanding senior notes and related consent solicitations.</li><li>Represented BlackBerry Limited (NYSE: BB) in its $200 million Rule 144A offering of convertible notes. </li><li>As designated underwriters’ counsel to Royal Dutch Shell Plc, represented the underwriters in connection with registered offerings of more than $30 billion of fixed and floating rate notes by Shell International Finance, the U.S. financing subsidiary of Royal Dutch Shell Plc.</li><li>Represented Southwest Gas Holdings, Inc. (NYSE: SWX) in its defense against a hostile tender offer and proxy contest by Carl Icahn, and in its subsequent registered offerings of common stock and debt. </li><li>Represented Unity Software Inc. (NYSE: U) in its stock-for-stock merger with ironSource, Ltd. for an approximate value of $4.4 billion.</li><li>Represented the underwriters in connection with the registered offering of $5 billion of notes by Novartis Capital Corporation, the U.S. financing subsidiary of Novartis AG.</li><li>Represented Vontier Corporation (NYSE: VNT) in its $1.6 billion 144A offering of Senior Notes and its $1.6 billion registered exchange offer.</li><li>Represented the placement agent in connection with the $50 million private offering of senior secured notes by Newport Realty Trust, a private mortgage REIT, the private placement of $36.5 million aggregate principal amount of 7.5% Senior Unsecured Notes due 2025 issued by NextPoint Real Estate Finance Operating Partnership, L.P., the operating partnership subsidiary of NexPoint Real Estate Finance, Inc. (NYSE: NREF), and the private placement of $42.25 million aggregate principal amount of its 7.00% Senior Unsecured Notes due 2026 issued by Pelorus Fund REIT, LLC.</li><li>Represented Veeco Instruments Inc. (NASDAQ: VECO) in its registered offering of $300 million 2.70% Convertible Senior Notes due 2023.</li><li>Represents the sales agents in connection with Equity Residential’s (NYSE: EQR) at-the-market equity offering; as designated underwriters’ counsel, represented the underwriters in connection with registered offerings by Equity Residential’s operating partnership, ERP Operating Limited Partnership, of an aggregate of $1.25 billion of notes.</li><li>Represented Whole Foods Market, Inc. (NASDAQ:WFM) in its $1.0 billion Rule 144A/Regulation S offering of 5.200% Senior Notes due 2025.</li><li>Represented the underwriters in connection with Community Healthcare Trust Incorporated’s (NYSE: CHCT) approximately $136.6 million initial public offering and in subsequent follow-on offerings.</li><li>Represented Inovalon Holdings, Inc. (NASDAQ: INOV) in its approximately $685 million initial public offering.</li></ul>

Emily K. Beers

Of Counsel

Chris Rolle is a corporate associate in the firm's Washington, D.C. office.Before joining Morrison Foerster, Chris was a summer associate in the Northern Virginia office.Chris earned his J.D. from the Georgetown University Law Center. While in law school, Chris was an Articles Editor for the Georgetown Journal of Legal Ethics, an intern for the U.S. Department of Justice (Antitrust Division), and an intern for the U.S. Securities and Exchange Commission (Division of Enforcement).He holds a B.A. in Politics and International Affairs from Wake Forest University.<h4 dir="ltr">Representative Experience</h4><ul dir="ltr"><li>Represented eBay Inc. (NASDAQ: EBAY) in a $2.5 billion offering of senior unsecured notes under its existing shelf registration statement.</li><li>Represented Black Creek Industrial REIT IV Inc. in connection with its second public offering of up to $2 billion of common stock and its third public offering of up to $5 billion of common stock.</li><li>Represented the underwriters in connection with a registered offering of $1.5 billion of fixed rate notes by Shell International Finance, the U.S. financing subsidiary of Royal Dutch Shell Plc.</li><li>Represented Unity Software Inc. (NYSE: U) in connection with its $1 billion convertible notes offering to affiliates of Silver Lake and Sequoia Capital.</li><li>Represented UDR, Inc. (NYSE: UDR) in connection with multiple public offerings of debt and equity securities resulting in proceeds in excess of $1 billion.</li><li>Represented Southwest Gas Holdings, Inc. (NYSE: SWX) in an at-the-market offering of up to $500 million in common stock.</li><li>Represented Anzu Special Acquisition Corp I (NASDAQ: ANZU.U) in its $420 million initial public offering of common stock.</li><li>Represented Washington Gas Light Company in connection with an aggregate of $400 million private offerings of its senior unsecured notes.</li><li>Represented Robert W. Baird & Co. and Goldman Sachs & Co. LLC as sales agents for Watsco, Inc. (NYSE: WSO) in an ATM offering of up to $300 million in common stock.</li><li>Represented the sales agents, led by BofA Securities, Inc., in an ATM offering of up to $250 million in common stock of Tanger Factory Outlet Centers, Inc. (NYSE: SKT).</li><li>Represented Upland Software Inc. (NASDAQ: UPLD) in connection with a $115 million strategic investment from a private equity firm in the form of a new class of convertible preferred stock.</li><li>Represented Sky Harbour LLC (NYSEAMERICAN: SKYH), a developer of private aviation infrastructure focused on building, leasing, and managing business aviation hangars, in connection with its business combination agreement with Yellowstone Acquisition Company, a publicly traded special purpose acquisition company sponsored by Boston Omaha Corporation.</li><li dir="ltr">Represented Piper Sandler Companies as placement agent in the private placement of $42.25 million aggregate principal amount of 7.00% senior unsecured notes due 2026 issued by Pelorus Fund REIT, LLC and in the private placement of $20 million aggregate principal amount of 8.50% senior secured notes due 2028 issued by Newport Realty Trust, Inc.</li></ul>

Chris M. Rolle

Associate

Capital Markets