Paul Hastings LLP, a leading global law firm, announced today that premier fintech and capital markets lawyer Eric Sibbitt has joined the firm’s San Francisco office as a partner. He joins from O’Melveny, where he was chair of the financial technology industry group. His arrival adds to the reputation and skillset of Paul Hastings’ leading Fintech and Payments practice, ranked in Band 1 by Chambers, as well as advancing the strong growth of the firm’s global Securities & Capital Markets practice and its San Francisco office.
“As blockchain and cryptocurrency become more and more mainstream, companies in this innovative space are seeking top legal counsel to help them navigate their convergence with more traditional financial institutions and Main Street companies,” said Seth Zachary, Chairman of Paul Hastings. “With his market-leading expertise in blockchain and cryptocurrency, as well as his deep experience in capital markets transactions, Eric will help lead the continued growth of our practice in those areas.”
“Paul Hastings is a leader in innovative fintech and capital markets work, with an impressive growth story and tremendous momentum,” said Mr. Sibbitt. “I’m thrilled about the opportunity to join the firm’s outstanding Fintech and Capital Markets groups and help clients execute on their strategic priorities globally.”
Mr. Sibbitt has broad expertise advising issuers and underwriters on IPOs and other complex equity and debt capital-raising transactions, as well as other strategic transactions, and provides clients with boardroom counsel on SEC and corporate governance matters. As one of the most trusted legal advisors in the fintech industry, he represents major trading platforms and other market intermediaries, leading innovators, and prominent investors in navigating the regulatory complexity presented by blockchain and new financial technologies and legacy regulation. Mr. Sibbitt also advised on the establishment of the Crypto Ratings Council, the leading industry organization helping members assess the status of digital assets under the federal securities laws.
Paul Hastings’ Fintech and Payments practice is a recognized advisor to industry leaders and innovative start-ups alike, and is sought out to assist with major mandates such as advising Samsung on the launch of Samsung Pay; the carve-out of Sage Payment Systems from Sage Software (a UK company) and its acquisition by GTCR (a U.S. private equity firm); the global launch of a stablecoin by Gemini; the launch of U.S. Dollar Coin, a stablecoin offered by Coinbase and Circle; a $125 million debt financing for Earnin, a mobile software company; and the global launch of a fintech platform for the world’s largest automotive manufacturer.
The global Capital Markets practice at Paul Hastings has advised on several recent landmark transactions, including the high-yield notes financing issued in connection with Altice USA, Inc.’s combination of Suddenlink and Optimum, for which Paul Hastings received the Financial Times Innovative Lawyers Award for Managing Complexity and Scale; the financing package for Bain Capital’s acquisition of a majority stake in Kantar, for which the firm won High Yield Deal of the Year for 2020 from IFLR Europe; The Providence Service Corporation’s debut notes offering to finance the acquisition of the Simplura Group; a high-yield senior notes offering for KIK Consumer Partners and Centerbridge Partners as part of a recapitalization package; a convertible senior notes offering and related capped call transactions for Beyond Meat, Inc.; the IPO and Nasdaq listing of the common stock of Accolade, Inc., a subsequent secondary offering and a convertible bond offering; the IPO and Sao Paulo listing of the shares of Hidrovias do Brasil, one the largest IPOs in Brazil in 2020, and subsequently advised on a high-yield bond offering and tender offer by Hidrovias; the IPO and Hong Kong listing of the shares of SciClone Pharmaceuticals (Holdings) Limited; and Link Mobility’s IPO on the Oslo Stock Exchange.
