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Reevemark is handling the much-anticipated Chapter 11 filing of shale pioneer Chesapeake Energy, which collapsed due to a heavy debt load, weak oil prices and financial pressures from the COVID-19 pandemic.
As communications advisor, Reevemark worked with Chesapeake's PR team headed by Gordon Pennoyer to develop an internal communications cascade, provide external messaging and organize CEO town hall sessions.
The goal is to pitch the reorganization as a means to achieve a move sustainable capital structure and capitalize on its diversified operating platform.
Under flamboyant founder and now deceased Aubrey McClendon, Chesapeake ran up tens of billions in debt and orchestrated sideshows, such as poaching the NBA Seattle Supersonics and moving the squad to the company's hometown of Oklahoma City. The recast Oklahoma City Thunder play home games at Chesapeake Energy Arena.
Chesapeake CEO Doug Lawler has eliminated $20B of leverage & financial commitments, but ultimately concluded that a financial restructuring was “necessary for the long-term success and value creation of the business.”
Reevemark's Chesapeake team includes Paul Caminiti, Hugh Burns, Delia Cannan, Molly Curry, Jacqueline Zuhse and Michael Anderson.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
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