Chris E. Abbinante

Sidley is representing Broadmark Realty Capital Inc., a real estate finance company that focuses on originating and servicing residential and commercial construction loans, in its definitive merger agreement with Ready Capital Corporation, a real estate finance company that originates, acquires, finances, and services small-to-medium balance commercial loans. The transaction will create the fourth largest commercial mortgage REIT with a capital base of US$2.8 billion, with an expected value at closing of approximately US$787 million. The combined company will operate under the name “Ready Capital Corporation” and its shares will trade on the NYSE under the existing ticker symbol “RC.” The Sidley team is being led by Scott Williams and Jessica Day (M&A and Private Equity), and includes Chris Abbinante, Emily M. Olivera, and Lisa Holzman (M&A and Private Equity); Christian E. Pilhofer and Sarah K. Recktenwald (Employee Benefits and Executive Compensation); Heather M. Palmer and Sarah A. Jehl (Environmental); Teresa L. Reuter and Katie Sreenan (Labor and Employment); Stephen W. McInerney and Sasha Hondagneu-Messner (Privacy and Cybersecurity); Jim Ducayet (Securities and Shareholder Litigation); Scott Pollock and Mitchell Li (Tax); and Mark L. Kaufmann, Kyle Barnett, and Tomide K. Owolabi (Technology and Life Sciences Transactions).~~Sidley is representing Broadmark Realty Capital Inc., a real estate finance company that focuses on originating and servicing residential and commercial construction loans, in its definitive merger agreement with Ready Capital Corporation, a real estate finance company that originates, acquires, finances, and services small-to-medium balance commercial loans. The transaction will create the fourth largest commercial mortgage REIT with a capital base of US$2.8 billion, with an expected value at closing of approximately US$787 million. The combined company will operate under the name “Ready Capital Corporation” and its shares will trade on the NYSE under the existing ticker symbol “RC.” The Sidley team is being led by Scott Williams and Jessica Day (M&A and Private Equity), and includes Chris Abbinante, Emily M. Olivera, and Lisa Holzman (M&A and Private Equity); Christian E. Pilhofer and Sarah K. Recktenwald (Employee Benefits and Executive Compensation); Heather M. Palmer and Sarah A. Jehl (Environmental); Teresa L. Reuter and Katie Sreenan (Labor and Employment); Stephen W. McInerney and Sasha Hondagneu-Messner (Privacy and Cybersecurity); Jim Ducayet (Securities and Shareholder Litigation); Scott Pollock and Mitchell Li (Tax); and Mark L. Kaufmann, Kyle Barnett, and Tomide K. Owolabi (Technology and Life Sciences Transactions).

Feb 28

2 min

Sidley represented Fortune Brands Innovations, Inc. (Fortune Brands), a home, security, and commercial building products company, in the spinoff of its cabinets business, MasterBrand, Inc. (MasterBrand), creating two independent, publicly traded companies. The spinoff was completed on December 14, 2022, with Fortune Brands common stockholders receiving one share of MasterBrand common stock for every share of Fortune Brands common stock held as of 5:00 p.m., Central Time, on Friday, December 2, 2022. Effective as of December 15, Fortune Brands also changed its name from Fortune Brands Home & Security, Inc. to Fortune Brands Innovations, Inc. Shares of common stock of Fortune Brands will trade on the New York Stock Exchange under the symbol “FBIN,” and shares of common stock of MasterBrand will begin trading on the New York Stock Exchange under the symbol “MBC.” The Sidley team was led by Chris Abbinante, Scott Williams, and Jack Melamed (M&A and Private Equity), and includes Will Schoenfeld, André Rouillard, Hannah Ellis, and Taylor Shuman (M&A and Private Equity); Samir A. Gandhi, Adam Gross, LinLin Teng and Conner Collins (Capital Markets); Suresh T. Advani, Rachel D. Kleinberg, and Andy J. Lau (Tax); Corey Perry, Lauren Gallagher, Alexandra Peterson, and Amanda M. Casanueva (Employee Benefits and Executive Compensation); Mark Kaufmann and Andy Dykstra (Technology and Life Sciences Transactions); and Katie Klaben (Securities Enforcement and Regulatory).~~Sidley represented Fortune Brands Innovations, Inc. (Fortune Brands), a home, security, and commercial building products company, in the spinoff of its cabinets business, MasterBrand, Inc. (MasterBrand), creating two independent, publicly traded companies. The spinoff was completed on December 14, 2022, with Fortune Brands common stockholders receiving one share of MasterBrand common stock for every share of Fortune Brands common stock held as of 5:00 p.m., Central Time, on Friday, December 2, 2022. Effective as of December 15, Fortune Brands also changed its name from Fortune Brands Home & Security, Inc. to Fortune Brands Innovations, Inc. Shares of common stock of Fortune Brands will trade on the New York Stock Exchange under the symbol “FBIN,” and shares of common stock of MasterBrand will begin trading on the New York Stock Exchange under the symbol “MBC.” The Sidley team was led by Chris Abbinante, Scott Williams, and Jack Melamed (M&A and Private Equity), and includes Will Schoenfeld, André Rouillard, Hannah Ellis, and Taylor Shuman (M&A and Private Equity); Samir A. Gandhi, Adam Gross, LinLin Teng and Conner Collins (Capital Markets); Suresh T. Advani, Rachel D. Kleinberg, and Andy J. Lau (Tax); Corey Perry, Lauren Gallagher, Alexandra Peterson, and Amanda M. Casanueva (Employee Benefits and Executive Compensation); Mark Kaufmann and Andy Dykstra (Technology and Life Sciences Transactions); and Katie Klaben (Securities Enforcement and Regulatory).

Dec 15

2 min

A Sidley restructuring team initiated Chapter 11 proceedings for AppHarvest, Inc. in the U.S. Bankruptcy Court for the Southern District of Texas. AppHarvest is a high-tech indoor farming company with over US$300 million in funded debt and lease obligations. All requested interim relief was consensually approved at the company’s first day hearing on Tuesday, July 25, including a 9019 transfer motion and a US$29.6 million DIP financing motion. The company’s plan, supported by an RSA with its largest secured creditor (Equilibrium Capital), contemplates an approximately 60 day sale process under section 363 of the Bankruptcy Code, to facilitate the transition of AppHarvest’s existing operations to Equilibrium, the company’s proposed stalking horse purchaser. The team representing AppHarvest includes Restructuring partners Steve Hessler and Anthony Grossi (New York), Private equity partner Chris Abbinante (Chicago), and M&A partner Ryan Scofield (Dallas). The team also includes Duston McFaul (partner, Restructuring), Jeri Leigh Miller (senior managing associate, Restructuring), Patrick Venter (senior managing associate, Restructuring), Maggie Alden (managing associate, Restructuring), Andres Barajas (managing associate, Restructuring), Weiru Fang (managing associate, Restructuring), Ian Ferrell (associate, Restructuring), Ryan Fink (associate, Restructuring), and Chelsea McManus (associate, Restructuring).~~A Sidley restructuring team initiated Chapter 11 proceedings for AppHarvest, Inc. in the U.S. Bankruptcy Court for the Southern District of Texas. AppHarvest is a high-tech indoor farming company with over US$300 million in funded debt and lease obligations. All requested interim relief was consensually approved at the company’s first day hearing on Tuesday, July 25, including a 9019 transfer motion and a US$29.6 million DIP financing motion. The company’s plan, supported by an RSA with its largest secured creditor (Equilibrium Capital), contemplates an approximately 60 day sale process under section 363 of the Bankruptcy Code, to facilitate the transition of AppHarvest’s existing operations to Equilibrium, the company’s proposed stalking horse purchaser. The team representing AppHarvest includes Restructuring partners Steve Hessler and Anthony Grossi (New York), Private equity partner Chris Abbinante (Chicago), and M&A partner Ryan Scofield (Dallas). The team also includes Duston McFaul (partner, Restructuring), Jeri Leigh Miller (senior managing associate, Restructuring), Patrick Venter (senior managing associate, Restructuring), Maggie Alden (managing associate, Restructuring), Andres Barajas (managing associate, Restructuring), Weiru Fang (managing associate, Restructuring), Ian Ferrell (associate, Restructuring), Ryan Fink (associate, Restructuring), and Chelsea McManus (associate, Restructuring).

Jul 26

2 min

Sidley is representing Novant Health, Inc. in its agreement with Tenet Healthcare Corporation (NYSE: THC) to acquire three Tenet hospitals and affiliated operations in South Carolina for approximately US$2.4 billion. Novant Health is an integrated system of physician practices, hospitals, and outpatient centers that provides patients access to world-class technology, personal connections, and easy access to patient-focused care. The Sidley team is being led by Sam Wales (M&A and Private Equity), and includes Chris Abbinante, Marcos A. Alvarez, Rebekah J. Maloney, Amanda M. Patterson, and Ashley S. Rogers (M&A and Private Equity); Chad D. Ehrenkranz, Mark B. Langdon, Meghan F. Weinberg, Taylor Andelman, Sama E. Kahook, Steve Komorek, and Joshua C. Martin (Healthcare); Stacy Crosnicker and Gregory C. Matisoff (Employee Benefits and Executive Compensation); Greta T. Carlson (Environmental); Kathy P. Lee (Food, Drug and Medical Device); Amisha Gandhi (IP Litigation); Cathryn Le Regulski, Natalie Chan, and Sara E. Salmonson (Labor and Employment); Benjamin G. Kirschner and Alexander Longan (Real Estate); Tara M. Lancaster (Tax); and Lauren G. Grau and Zach Johnston (Technology and Life Sciences Transactions).~~Sidley is representing Novant Health, Inc. in its agreement with Tenet Healthcare Corporation (NYSE: THC) to acquire three Tenet hospitals and affiliated operations in South Carolina for approximately US$2.4 billion. Novant Health is an integrated system of physician practices, hospitals, and outpatient centers that provides patients access to world-class technology, personal connections, and easy access to patient-focused care. The Sidley team is being led by Sam Wales (M&A and Private Equity), and includes Chris Abbinante, Marcos A. Alvarez, Rebekah J. Maloney, Amanda M. Patterson, and Ashley S. Rogers (M&A and Private Equity); Chad D. Ehrenkranz, Mark B. Langdon, Meghan F. Weinberg, Taylor Andelman, Sama E. Kahook, Steve Komorek, and Joshua C. Martin (Healthcare); Stacy Crosnicker and Gregory C. Matisoff (Employee Benefits and Executive Compensation); Greta T. Carlson (Environmental); Kathy P. Lee (Food, Drug and Medical Device); Amisha Gandhi (IP Litigation); Cathryn Le Regulski, Natalie Chan, and Sara E. Salmonson (Labor and Employment); Benjamin G. Kirschner and Alexander Longan (Real Estate); Tara M. Lancaster (Tax); and Lauren G. Grau and Zach Johnston (Technology and Life Sciences Transactions).

Nov 20

2 min

Sidley represented Lovell Minnick Partners LLC (LMP) in its strategic growth investment in Cohen & Company, an accounting and consulting firm widely recognized for its assurance, tax, and advisory services tailored to investment funds, private equity, family offices, and high-net-worth individuals. LMP is a private equity firm that invests in growth-oriented wealth and asset management, insurance, financial technology, and business services companies. LMP’s investment will help support Cohen & Company’s growth in key markets. The Sidley team was led by Chris Abbinante and Jessica M. Day (M&A and Private Equity); and included Emily M. Olivera, Scott A. Gregus, Lisa Holzman, Maggie E. Jokinen, and Cameron K. Woolley (M&A and Private Equity); Mike Warden and Kendra L. Stead (Commercial Litigation and Disputes); Kelly M. Dybala, Reid McKinney, and Caroline Roberts (Global Finance); John T. Schaff and Mitchell Li (Tax); Lauren A. Gallagher, Alexandra M. Peterson, and Ryan B. McLeod (Employee Benefits and Executive Compensation); Rebecca Stuart and Emily M. Wajert (Labor and Employment); Scott J.F. Goldstein (Insurance); Stephen W. McInerney and Ben Cross (Privacy and Cybersecurity); Elizabeth K. McCloy and Brandon Bryer (Real Estate); E. Kyle Barnett (Technology and Life Sciences Transactions); and Vadim Brusser (Antitrust and Competition).~~Sidley represented Lovell Minnick Partners LLC (LMP) in its strategic growth investment in Cohen & Company, an accounting and consulting firm widely recognized for its assurance, tax, and advisory services tailored to investment funds, private equity, family offices, and high-net-worth individuals. LMP is a private equity firm that invests in growth-oriented wealth and asset management, insurance, financial technology, and business services companies. LMP’s investment will help support Cohen & Company’s growth in key markets. The Sidley team was led by Chris Abbinante and Jessica M. Day (M&A and Private Equity); and included Emily M. Olivera, Scott A. Gregus, Lisa Holzman, Maggie E. Jokinen, and Cameron K. Woolley (M&A and Private Equity); Mike Warden and Kendra L. Stead (Commercial Litigation and Disputes); Kelly M. Dybala, Reid McKinney, and Caroline Roberts (Global Finance); John T. Schaff and Mitchell Li (Tax); Lauren A. Gallagher, Alexandra M. Peterson, and Ryan B. McLeod (Employee Benefits and Executive Compensation); Rebecca Stuart and Emily M. Wajert (Labor and Employment); Scott J.F. Goldstein (Insurance); Stephen W. McInerney and Ben Cross (Privacy and Cybersecurity); Elizabeth K. McCloy and Brandon Bryer (Real Estate); E. Kyle Barnett (Technology and Life Sciences Transactions); and Vadim Brusser (Antitrust and Competition).

Oct 30

2 min