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4.17.26
Wilson Sonsini Advises Zanskar on Close of $40 Million in Novel Development Capital Financing
On April 16, 2026, Zanskar, the first AI-native geothermal energy company, announced the closing of $40 million in a Development Capital Facility. Wilson Sonsini Goodrich & Rosati advised Zanskar on the transaction, which is among the first ever structured for early-stage geothermal development. The financing was co-led by Just Climate and Spring Lane Capital, with additional capital committed by Tierra Adentro Growth Capital.
The Development Capital Facility draws on best practices from the renewables and natural resource sectors, establishing a revolving development credit facility designed to accelerate project development across Zanskar’s growing portfolio. The non-recourse facility covers key pre-construction activities, bridging projects to traditional bank project financing, and is structured to upsize to $100 million as Zanskar’s portfolio scales.
The financing transaction strengthens Zanskar’s ability to commercialize its pipeline of naturally occurring geothermal systems and sets a scalable financing precedent for greenfield geothermal as a recognized asset class across the United States.
The Wilson Sonsini team that advised Zanskar on the transaction included Scott Zimmermann, Jason Slagle, Nicole Gambino, Bob O’Connor, Jordana Palgon, and Jenae Sharp.
The Development Capital Facility draws on best practices from the renewables and natural resource sectors, establishing a revolving development credit facility designed to accelerate project development across Zanskar’s growing portfolio. The non-recourse facility covers key pre-construction activities, bridging projects to traditional bank project financing, and is structured to upsize to $100 million as Zanskar’s portfolio scales.
The financing transaction strengthens Zanskar’s ability to commercialize its pipeline of naturally occurring geothermal systems and sets a scalable financing precedent for greenfield geothermal as a recognized asset class across the United States.
The Wilson Sonsini team that advised Zanskar on the transaction included Scott Zimmermann, Jason Slagle, Nicole Gambino, Bob O’Connor, Jordana Palgon, and Jenae Sharp.
Client Highlights
4.09.26
Firm Advises Marvell Technology on Strategic Partnership and $2 Billion Investment from NVIDIA
On March 31, 2026, NVIDIA announced it has invested $2 billion in Marvell Technology as part of a strategic partnership to connect Marvell to the NVIDIA AI factory and AI-RAN ecosystem through NVIDIA NVLink Fusion™. This partnership offers customers building on NVIDIA architectures greater choice and flexibility in developing next-generation infrastructure. The companies will also collaborate on silicon photonics technology. Wilson Sonsini Goodrich & Rosati advised Marvell on the transaction.
Press Releases
10.23.25
Wilson Sonsini Adds Partner Charles (CJ) Gelinas to its Corporate Finance Team
NEW YORK, NY – October 23, 2025 – Wilson Sonsini Goodrich & Rosati, the premier provider of legal services to technology, life sciences, and growth enterprises worldwide, today announced that Charles (CJ) Gelinas has joined the firm’s Corporate Finance practice in New York. A recognized leader in fintech and consumer finance, Gelinas strengthens the firm’s capabilities in structured finance and asset-backed securities.
Client Highlights
9.11.25
Firm Advises Dropbox on $700 Million Upsize to its Existing Secured Credit Facility
On September 9, 2025, Dropbox, Inc. announced an amendment to its existing Credit and Guaranty Agreement, providing the company with a secured term loan facility in an aggregate principal amount of up to $2.7 billion, consisting of $1 billion of existing term loans, $1 billion of existing delayed draw term loans, and $700 million of 2025 delayed draw term loans. The amended facility was led and substantially provided by Blackstone Credit & Insurance. Proceeds of the additional delayed draw term loans may only be used to repay Dropbox’s outstanding convertible senior notes due in 2026. Wilson Sonsini Goodrich & Rosati advised Dropbox on the transaction.
Client Highlights
8.20.25
Wilson Sonsini Advises Upstart on $690 Million Convertible Senior Notes Offering
On August 14, 2025, Upstart Holdings, Inc. completed an upsized offering of $690 million aggregate principal amount of convertible senior notes due 2032 in a private transaction. The offering amount included the exercise in full of the option that Upstart had granted to the initial purchasers to purchase up to an additional $90 million of notes. In connection with the offering, Upstart entered into privately negotiated capped call transactions with certain of the initial purchasers or their respective affiliates and other financial institutions.
Client Highlights
7.21.25
Wilson Sonsini Advises Cloudflare on $2.0 Billion Convertible Senior Notes
On June 17, 2025, Cloudflare, Inc. issued $2.0 billion aggregate principal amount of 0% Convertible Senior Notes due 2030. The offering amount included the exercise in full of the option that Cloudflare had granted to the initial purchasers to purchase up to an additional $250 million of notes. In connection with the offering, Cloudflare entered into privately negotiated capped call transactions with certain of the initial purchasers or their respective affiliates and other financial institutions.
Client Highlights
6.10.25
Wilson Sonsini Advises Autodesk on $500 Million Senior Notes Offering
On June 6, 2025, Autodesk, Inc. completed its offering of $500 million aggregate principal amount of 5.300 percent senior notes due 2035 (the Notes). Autodesk intends to use the net proceeds from the sale of the Notes for general corporate purposes, which may include the repayment of other indebtedness. Wilson Sonsini Goodrich & Rosati advised Autodesk on the transaction.
Client Highlights
6.02.25
Wilson Sonsini Advises Grammarly on $1 Billion Customer Investment Agreement
On May 29, 2025, Grammarly, a leading AI assistant for communication and productivity, announced the closing of a $1 billion financing arrangement with General Catalyst. Grammarly will use the proceeds from General Catalyst’s investment to scale sales and marketing and for strategic acquisitions.
Client Highlights
5.21.25
Wilson Sonsini Advises Yext on $200 Million Debt Facility with BlackRock
On May 21, 2025, Yext, Inc., a leading digital presence platform for multi-location brands, announced that it has closed a $200 million senior secured term loan facility with funds and accounts managed by BlackRock, providing the company with enhanced flexibility to support its growth initiatives and strategic objectives. Wilson Sonsini Goodrich & Rosati advised Yext on the transaction. Proceeds of the facility will be used to support growth initiatives and pursue strategic acquisitions.
Client Highlights
5.13.25
Wilson Sonsini Advises Autodesk on $1.5 Billion Credit Facility
On May 8, 2025, Autodesk, Inc., a global leader in design and engineering software, entered into a credit agreement with Citibank, N.A. and certain other parties thereto, which provides for an unsecured revolving loan facility in an aggregate principal amount of $1.5 billion. The credit agreement permits Autodesk to increase the commitments thereunder by an additional $500.0 million, subject to the satisfaction of certain conditions, including the obtaining of additional commitments for such increase. The proceeds of loans under the revolving loan facility may be used for working capital and general corporate purposes. Wilson Sonsini Goodrich & Rosati advised Autodesk on the transaction.
Client Highlights
4.30.25
Wilson Sonsini Advises Micron on $1.75 Billion Senior Notes Offering
On April 29, 2025, Micron Technology, Inc., completed its offering of (i) $500,000,000 aggregate principal amount of 5.65 percent senior notes due 2032 (the "2032 Notes") and (ii) $1,250,000,000 aggregate principal amount of 6.05 percent senior notes due 2035 (the "2035 Notes" and, together with the 2032 Notes, the "Notes"). Micron intends to use the net proceeds from the sale of the Notes to redeem its outstanding 4.185 percent Senior Notes due 2027 and for general corporate purposes. Wilson Sonsini Goodrich & Rosati advised Micron on the transaction.
Client Highlights
3.25.25
Wilson Sonsini Advises Microchip on Offering of $1.48 Billion of Depositary Shares
On March 25, 2025, Microchip Technology completed a mandatory convertible preferred stock offering of $1.48 billion of depositary shares, each representing a 1/20th interest in a share of 7.50% Series A Mandatory Convertible Preferred Stock, in an underwritten public offering. The offering amount included the exercise in full of the over-allotment option that Microchip had granted to the underwriters to purchase up to an additional $135 million of depositary shares. In connection with the offering, Microchip entered into privately negotiated capped call transactions with one or more of the underwriters and other financial institutions. Microchip is one of the first technology companies to use this mandatory convertible preferred stock structure with a capped call feature.