Photo of Ryan J. Patrone

Ryan J. Patrone

Partner, Cravath

212-474-1280rpatrone@cravath.com

Two Manhattan West
375 Ninth Avenue
New York, NY 10001

View Firm Biography

Ryan J. Patrone focuses his practice on representing issuers and investment banking firms in capital markets transactions, including initial public offerings and other primary and secondary equity offerings, as well as investment grade and high‑yield debt offerings. He also has significant experience representing clients in mergers and acquisitions, corporate governance, shareholder activism defense and general corporate matters.

Patrone is an author on a range of legal topics impacting capital markets and finance, having contributed to publications such as Chambers’ Acquisition Finance Guide.

Lawdragon Honors

Honor Year Practice
The 2026 Lawdragon 500 Leading Dealmakers in America 2026 Capital Markets
The 2025 Lawdragon 500 X – The Next Generation 2025 Corporate, Capital Markets
The 2024 Lawdragon 500 X – The Next Generation 2024 Corporate, Capital Markets
Lawdragon 500 X – The Next Generation 2023 Corporate, Capital Markets

Notable work highlights include:

  • IPOs and similar new listing transactions for Galaxy Digital, Smithfield Foods and Valvoline, and other equity offerings of Annaly Capital Management, Baker Hughes, Essential Utilities, Fortress Transportation and Infrastructure, Heartland Express, Hess Midstream, NCR, New Fortress Energy and QuidelOrtho
  • Investment grade debt offerings of American National, Brown‑Forman, Cencora, Essential Utilities, Fortis, Howmet Aerospace, Ingersoll Rand, Keysight, L3Harris, Lazard, Lennar, Marathon Oil, Marathon Petroleum, The Mosaic Company, MPLX, Phillips 66, Polaris, Viatris, Wabtec and Zimmer Biomet
  • High-yield debt offerings of Alcoa, Amentum, American Axle & Manufacturing, Ashland, Burford Capital, Centene, Compass Minerals, Denbury Resources, Fortress Transportation and Infrastructure, Hess Midstream, Lennar, Level 3 Communications, Murphy Oil, NCR, New Fortress Energy, Uniti and Valvoline
  • Convertible notes and other equity‑linked offerings of Allegheny Technologies and Essential Utilities
  • Debt-for-debt exchange offers of Centene, Denbury Resources, Level 3 Communications and Lumen, and cash tender offers of Ashland, Lazard, Lumen, Murphy Oil and Viatris

  • Representing Circle on regulatory matters related to its $1.05 billion IPO

  • Representing Citi in the formation of its $25 billion private credit, direct lending program with Apollo

  • Representing Disney in ESPN’s strategic alliance with PENN Entertainment to launch ESPN BET, and the related issuance to ESPN of warrants to purchase PENN common shares

  • Representing the Snyder family in the $6.05 billion sale of the NFL’s Washington Commanders to a partnership led by Josh Harris

  • Representing FS Investments (now Future Standard) in its combination with Portfolio Advisors, creating a $75 billion alternative investment firm
  • Representing Viatris in the $3.335 billion combination of its biosimilars portfolio with Biocon Biologics
  • Representing the independent members of the Neenah board of directors in the $3 billion combination with SWM
  • Representing Johnson & Johnson in the $2.8 billion sale of its Advanced Sterilization Products business to Fortive
  • Representing Deutsche Börse in its $2.275 billion acquisition of ISS