Hennessy Capital Investment Corp. V’s $345 Million Initial Public Offering

Davis Polk advised the representatives of the several underwriters in the transaction.

Hennessy Capital Investment Corp. V executed its initial public offering of 34,500,000 units, including 4,500,000 units purchased pursuant to the full exercise of the underwriters’ option to purchase additional units, for aggregate proceeds of $345 million. Each unit consists of one share of Class A common stock and one-fourth of one warrant to purchase one share of Class A common stock of Hennessy Capital Investment Corp. V. The units were approved for listing on Nasdaq under the symbol “HCICU.”

Citigroup Global Markets Inc. and Barclays Capital Inc. served as joint book-running managers for the offering and Roth Capital Partners, LLC and Loop Capital Markets LLC served as co-managers for the offering.

Hennessy Capital Investment Corp. V is a newly incorporated special purpose acquisition company (SPAC) whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The SPAC intends to focus on sustainable industrial technology and infrastructure sectors in the United States.

The Davis Polk corporate team included partners Derek Dostal (Picture) and Deanna L. Kirkpatrick and associate Sana Bargach. Counsel Kiara L. Rankin and associate Ben Levenback provided tax advice. Counsel Marcie A. Goldstein provided FINRA advice.

Involved fees earner: Sana Bargach – Davis Polk & Wardwell; Derek Dostal – Davis Polk & Wardwell; Marcie Goldstein – Davis Polk & Wardwell; Deanna Kirkpatrick – Davis Polk & Wardwell; Ben Levenback – Davis Polk & Wardwell; Kiara Rankin – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Barclays Capital ; Citigroup Global Markets Ltd; Loop Capital Markets; Roth Capital Partners, LLC;


Author: Ambrogio Visconti