Seth R. Molay focuses on complex business transactions, with lead responsibility on public equity and debt offerings, private placements, venture capital transactions, and mergers and acquisitions. In addition to handling transactional work, Mr. Molay represents public and private companies in general corporate and securities matters.

Practice & Background

Mr. Molay has extensive experience in public offerings and private placements of equity and debt securities, including Rule 144A transactions, representing both underwriters and issuers in a wide range of industries, including energy, technology, health care, retail, entertainment and transportation. In 2015 and 2016, Mr. Molay advised issuers on the largest volume of securities offerings in the state of Texas, according to Texas Lawbook.

Mr. Molay also has lead responsibility on multibillion-dollar corporate mergers and asset purchase and sale transactions, primarily in the energy, technology, manufacturing and retail industries. He has extensive experience in cross-border transactions involving companies in Latin America, Europe and Central Asia.

Mr. Molay joined Akin Gump’s Washington office as an associate in 1981 and transferred to the Dallas office in 1985. He became a partner in 1989.

Mr. Molay received his B.A. from Brandeis University in 1976 and his J.D. cum laude in 1981 from the University of Miami School of Law, where he was on the editorial board of the University of Miami Law Review from 1979 to 1981. He is a member of the Texas and District of Columbia bars.

Representative Matters

Mr. Molay’s securities transactions include representing:

  • an oil field services company in its initial public offering
  • an exploration and production company in its initial public offering and subsequent follow-on and secondary offerings with an aggregate value in excess of $1.5 billion
  • the sole initial purchaser in a $1.3 billion high-yield debt offering
  • the underwriters in the $212 million initial public offering of an exploration and production company
  • a land-based drilling company in its $102 million initial public offering and two follow-on offerings of common stock aggregating $171 million
  • an IT staffing company in its $33.5 million follow-on equity offering
  • a leading entertainment company in eight public debt offerings aggregating $1.95 billion of senior notes
  • the sole initial purchaser in a $150 million convertible debt offering for a drilling company
  • the underwriters in a $71 million equity offering for a national trucking company
  • the sole initial purchaser in a $250 million Rule 144A debt offering for a manufacturing company
  • the underwriters in a $147 million initial public offering for a company in the transportation industry
  • a health care company in a $53 million equity offering
  • the sole initial purchaser in a $150 million debt offering for a company in the health care industry
  • the issuer in a $115 million initial public offering for an insurance company
  • the initial purchasers in a $150 million Rule 144A debt offering for an oil and gas company
  • a dealer-manager in a $100 million debt tender offer
  • the sole initial purchaser in a $100 million convertible debt offering for a drilling company.

Mr. Molay’s corporate/M&A transactions include representing:

  • the purchaser in a $7.1 billion acquisition of equity interests in an oil and gas company
  • the seller in a $3.1 billion sale of equity interests in an oil and gas company
  • a private equity firm in a $630 million sale of an oil field services company
  • a private equity firm in the $225 million sale of an oil field services company
  • a health care company in a $1.8 billion going-private transaction
  • a staffing services company in a merger with a publicly traded competitor
  • management in the acquisition of a publicly traded specialty retailer
  • a publicly traded energy service company in its $440 million merger with a publicly traded competitor.