Lanchi D. Huynh

Kirkland & Ellis advised Rice Acquisition Corp. II (NYSE: RONI), a publicly traded special purpose acquisition company, in the completion of its business combination with NET Power, LLC, an energy generation company whose proprietary technology delivers clean, affordable, reliable energy. The combined company will operate as NET Power Inc. and its Class A common stock and warrants to purchase Class A common stock will start trading on the New York Stock Exchange today, June 9, 2023, under the ticker symbol “NPWR” and “NPWR WS,” respectively. As a result of the business combination, NET Power received gross proceeds of more than $675 million, consisting of more than $135 million from RONI’s trust account and approximately $540 million in PIPE capital from strategic and financial investors. Read NET Power’s press release The Kirkland team was led by corporate partners David Feirstein, Cyril Jones and Jennifer Gasser; capital markets partners Matt Pacey, Lanchi Huynh and Noah Allen; tax partners Mike Beinus and Vivek Ratnam; and included assistance from corporate associates Adam Wojcik, Brennon Nelson and Tyler Ambrose; and capital markets associates Erin Meziere, Ben Sharp and Hope Rovner.

Jun 9

1 min

with participation from the Rice family, Occidental, Constellation, 8 Rivers, Hite Hedge, and NGP

Dec 14

1 min

Kirkland & Ellis advised Nine Energy Service, Inc., a leading onshore completion solutions provider, on an agreement with its debtholders on a comprehensive recapitalization transaction designed to strengthen its capital structure and support the Company's long-term financial health. To implement the transaction, Nine Energy Service, Inc. and certain of its U.S. and Canadian subsidiaries have filed a voluntary, prepackaged Chapter 11 case in the U.S. Bankruptcy Court for the Southern District of Texas. The Company's operations outside the U.S. and Canada are not included in the filing. Read the transaction press release The Kirkland team included restructuring lawyers Chad Husnick and Ross Fiedler; capital markets lawyers Matt Pacey and Lanchi Huynh; debt finance lawyer Mary Kogut; and transactional lawyer James Kelly.

Feb 4

1 min

Kirkland & Ellis is advising EQT Corporation (NYSE: EQT) on a definitive agreement with Blackstone Credit & Insurance (NYSE: BX) to form a new midstream joint venture consisting of EQT’s ownership interest in Mountain Valley Pipeline, LLC – Series A (MVP), FERC regulated transmission and storage assets, and the Hammerhead Pipeline. Under the terms of the agreement, Blackstone will provide EQT with a $3.5 billion of cash consideration in exchange for a passive common equity interest in JV. The investment implies a total JV valuation of approximately $8.8 billion. The transaction was announced on November 25, 2024 and is expected to close in the fourth quarter of 2024, subject to customary closing adjustments, required regulatory approvals and clearances. Read the transaction press release The Kirkland team included corporate lawyers David Feirstein, Cy Jones, Lindsey Jaquillard, Jennifer Gasser and Brittany Sakowitz; capital markets lawyers Matt Pacey and Lanchi Huynh; and debt finance lawyer Rachael Lichman.

Nov 25

1 min

Kirkland & Ellis advised EQT Corporation (NYSE: EQT) on a definitive merger agreement with Equitrans Midstream Corporation (NYSE: ETRN), which will create an integrated natural gas business with an initial enterprise value of over $35 billion. The transaction was announced on March 11, 2024. The merger is expected to close during the fourth quarter of 2024, subject to required regulatory approvals and clearances, approval of the transaction by shareholders of both EQT and Equitrans, and other customary closing conditions. Under the terms of the merger, which has been unanimously approved by the boards of both companies, EQT will acquire Equitrans in an all-stock transaction with each outstanding share of Equitrans common stock exchanged for 0.3504 shares of EQT common stock, representing an implied value of $12.50 per Equitrans share based on the 30-day VWAP price of EQT common stock on March 8, 2024. EQT’s existing shareholders are expected to own approximately 74% of the combined company. Read the transaction press release The Kirkland team was led by corporate partners David Feirstein, Cy Jones, Jennifer Gasser and Steven Choi; capital markets partners Matt Pacey and Lanchi Huynh; executive compensation partners Stephen Jacobson and Jared Whalen; debt finance partners Rachael Lichman and Chad Davis; real assets partner Chad Smith; tax partners Dean Shulman, Sara Zablotney and Joe Tobias.

Mar 11

1 min