Osiris’ $230 Million Initial Public Offering

Paul, Weiss advised Osiris Acquisition Corp. in the offering.

Osiris Acquisition Corp., a special purpose acquisition company, executed its $230 million initial public offering. The offer included 23,000,000 units. Each unit consists of one Class A common stock and one-half of one redeemable warrant, with each whole warrant entitling the holder to purchase one share of Class A common stock at a price of $11.50. The units are listed on the NYSE under the ticker symbol “OSI.U.” The company has granted the underwriters a 45-day option to purchase up to 3,450,000 additional units at the IPO price to cover overallotments, if any.

Simultaneously with the IPO’s closing, the company completed the private sale of 6,600,000 private placement warrants to the company’s sponsor, Osiris Sponsor, LLC, generating gross proceeds of $6.6 million. The private placement warrants are identical to the warrants sold as part of the units in the IPO, except that the sponsor has agreed not to transfer, assign or sell any of the private placement warrants (except to certain permitted transferees) until 30 days after the completion of the company’s initial business combination.

The Paul, Weiss team included corporate partner Brian Janson (Picture) and tax partner Brian Grieve.

Involved fees earner: Brian Grieve – Paul Weiss Rifkind Wharton & Garrison; Brian Janson – Paul Weiss Rifkind Wharton & Garrison;

Law Firms: Paul Weiss Rifkind Wharton & Garrison;

Clients: Osiris Acquisition;

Author: Martina Bellini