Morrison Foerster represented Xpansiv Limited, an Australian company with offices in Sydney, New York, San Francisco, Seattle, Houston, Vancouver, London, Milan, and Bendigo, in obtaining a new $400 million convertible debt financing from affiliates of Blackstone Energy Partners ("Blackstone").
Xpansiv offers a market-infrastructure platform for global carbon and environmental commodities, as the company connects buyers and sellers of environmental commodities and provides market data for voluntary carbon offsets, renewable energy credits (RECs), and low-carbon fuels, each of which are critical elements of global decarbonization. Xpansiv's growing ecosystem supports companies seeking to meet environmental and emissions reduction goals.
Blackstone's capital will enable Xpansiv to continue driving growth across both organic initiatives and future acquisitions.
The MoFo team that advised Xpansiv was led by San Francisco corporate partner Suz MacCormac, San Diego corporate partner Shai Kalansky, San Francisco of counsel Eric Min, and Washington, D.C. associate Thomas Good. The team also included San Francisco associates Rohit Sengupta, Jack Bai, Olga Terets, Benjamin T.R. Fox, and Michael Santos, London associate Amber Pledge, San Diego associate Carey Hughes, and New York associates Blaire Rose and Philip Jaworskyj.
For further discussion of the transaction, see the press release.