Markus Wang

Corporate/M&A

• Covia Holdings Corporation and certain of its affiliates in connection with Covia’s prearranged Chapter 11 bankruptcy cases pending in the U.S. Bankruptcy Court for the Southern District of Texas. Covia provides diversified mineral-based and material solutions for global energy and industrial markets. As of its Chapter 11 filing, Covia’s funded debt totaled approximately $1.6 billion, including approximately $1.56 billion in secured term loan indebtedness. Prior to filing for Chapter 11 protection, Covia entered into a restructuring support agreement (RSA) with an ad hoc term lender group that collectively holds a majority of Covia’s term loan indebtedness that lays the groundwork for a comprehensive financial and operational restructuring of Covia that will reduce its go-forward leverage and fixed costs by more than $1 billion through a partial equitization of Covia’s prepetition term loan indebtedness and a strategic rationalization of its railcar fleet and distribution terminal network 
• Star Peak Energy Transition Corp. (NYSE: STPK), a special purpose acquisition company, on its $1.35 billion business combination with Stem, Inc., a global leader in clean energy storage systems

Capital Markets

• Jaws Mustang Acquisition Corporation (NYSE: JWSM), a special purpose acquisition company led by Barry S. Sternlicht and Andrew Klaber, in its $1.035 billion initial public offering.  
• Jaws Spitfire Acquisition Corporation (NYSE: SPFR), a special purpose acquisition company led by Barry S. Sternlicht and Matthew Walters, in its $345 million initial public offering