Bruce Kraus is a partner in the New York corporate practice and chair of the Corporate Finance and Securities practice group. A leading practitioner in mergers & acquisitions, corporate finance and capital markets transactions, Bruce left private practice in 2009 to accept a senior position with the Securities and Exchange Commission’s new Division of Risk, Strategy and Financial Innovation, which was being formed at the time to respond to the challenges of the financial crisis and the Madoff scandal.
Bruce’s practice now includes a range of corporate transactions and corporate counseling for both private equity and strategic buyers, internal investigations, and advice to emerging funds and other new ventures.
As a partner in a private law firm prior to his government service, Bruce worked with telecommunications, national defense and industrial clients from startup through maturity, executing financing, acquisition, divestiture and joint venture strategies, both domestically and internationally. At the SEC, he participated in many of the rulemaking proceedings and studies mandated by Dodd-Frank, and on developing new procedures and techniques for economic analysis of SEC rules. He also contributed to the SEC’s amicus curiae brief in the U.S. Supreme Court in Matrixx v. Siracusano, which centered on the role of statistical significance in securities law pleading requirements.
Bruce has been noted as a leading lawyer in Chambers International and Chambers (USA) and is a frequent speaker and author of topics related to corporate and securities law, and SEC rulemaking.
Represented Techtronic Industries’ Royal Appliance Manufacturing Co. in its acquisition in from bankruptcy of the assets and business of Oreck Corporation, and subsequent sale of its national chain of Oreck Home Care Centers, and subsequent defense of the scope of the assets purchased in an adversary proceeding Federal bankruptcy court.
Represented MHR Fund Management in its private equity investment in Consolidated Restaurant Corporation.
Represented Telesat Canada in a joint venture to form the world's fourth largest fixed satellite services operator, $3.25 billion invested.
Represented the trustee for the United States Treasury’s equity interest in General Motors Corporation prior to its Chapter 11 filing in 2009.
Represented the Trustee for U.S. Treasury’s $7.9 billion plurality investment in GMAC.
Represented XO Communications (NEXTLINK), nationwide competitive local, long-distance and wireless carrier with the following:
- Initial public offering
- Three acquisitions, totaling $4 billion
- 12 follow-on offerings of debt and equity securities, $6 billion in proceeds
- $5.2 billion debt restructuring
Represented TechTronic Industries, Co., Ltd., in seven acquisitions and intellectual property transactions that transformed a Chinese OEM into one of the world’s leading manufacturers of power tools and floor care and outdoor products manufacturer, including the Hoover, Ryobi, Milwaukee, Homelite and AEG brands.
Represented Loral Space & Communications, a leading communications satellite manufacturer and fixed satellite services provider in the following:
- Spin-off from Loral Corporation, $2.0 billion
- Three offerings of debt and equity securities, $1.9 billion in proceeds
- Two acquisitions, $927 million in consideration
- Three satellite services joint ventures, $700 million invested
- Satellite Fleet Sale, $1 billion in proceeds
- Private equity investments by controlling affiliate, related litigation and restructuring, $300 million in proceeds
Represented Globalstar Telecommunications, the 48-satellite communications constellation, in its $275 million founding strategic investments and nine follow-on offerings of debt and equity securities, $2.7 billion in proceeds.
Represented Loral Corporation, a roll-up of U.S. defense industry in the following:
- Three offerings of debt and equity securities, $1.1 billion in proceeds
- Four Acquisitions, $3.4 billion in consideration
- Satellite manufacturing joint venture, $300 million invested
- Sale of defense business, $9.1 billion
Represented 360networks, Inc. (Worldwide Fiber), an undersea fiber-optic telecommunications network, in its 642 million acquisition, company sale negotiations and $2.6 billion debt restructuring.
Represented Nextel Partners in the $1 billion funding for the foundation of its mobile network.
Represented TechTronic Industries, Co. Ltd., a leading global power tool, floor care and outdoor products manufacturer in seven acquisitions, $0.9 billion total consideration.
Represented UBS/Vonage as counsel to placement agent in $195 million pre-IPO convertible preferred financing.
Willkie v. Delaware County Board of Elections, appellate division case voting rights of second homeowners in upstate New York