Davis Polk advised E*TRADE Financial Corporation in connection with an SEC-registered block trade by Citadel Equity Fund Ltd., an affiliate of Citadel LLC, of 27,394,448 shares of E*TRADE common stock. Citadel received aggregate proceeds of approximately $309 million from the offering. Citigroup was the sole underwriter.
E*TRADE Financial Corporation is a financial services company that provides online brokerage and related products and services primarily to individual retail investors.
The Davis Polk corporate team included partners Daniel G. Kelly Jr. and Sarah K. Solum and associates Jeffrey C. Lau and Adam Gottesfeld. The tax team included partner Rachel D. Kleinberg and law clerk Catherine Paskoff Chang. Counsel Catherine L. Martin provided 1940 Act advice. Members of the Davis Polk team are based in the Menlo Park and New York offices.
