Prime Impact Acquisition I’s $300 Million Initial Public Offering

Davis Polk advised the underwriters in connection with the initial public offering.

Prime Impact Acquisition I completed the initial public offering of 30,000,000 units, for aggregate proceeds of $300 million. Each unit consists of one Class A ordinary share and one-third of one warrant to purchase one Class A ordinary share of Prime Impact Acquisition I. The units were listed on the New York Stock Exchange under the symbol “PIAI.U.”

Prime Impact Acquisition I, led by Mike Cordano, Mark Long, Jim McLean and other senior professionals, is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Prime Impact Acquisition I intends to focus on acquisition opportunities that capitalize on the growth of the data-centric economy.

The Davis Polk corporate team advising the underwriters, Goldman Sachs & Co. LLC, and BofA Securities, Inc., included partners Alan F. Denenberg (Picture) and Derek Dostal and associates Arisa Akashi, Moses Farzan Nekou, Jose Lucena-Rebollo and Ben Somogyi. The tax team included partner William A. Curran and associate Yixuan Long. Counsel Marcie A. Goldstein provided FINRA advice.

Involved fees earner: Arisa Akashi – Davis Polk & Wardwell; William Curran – Davis Polk & Wardwell; Alan Denenberg – Davis Polk & Wardwell; Derek Dostal – Davis Polk & Wardwell; Moses Farzan Nekou – Davis Polk & Wardwell; Marcie Goldstein – Davis Polk & Wardwell; Yixuan Long – Davis Polk & Wardwell; Jose Lucena-Rebollo – Davis Polk & Wardwell; Ben Somogyi – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Bank of America Securities; Goldman Sachs & Co.;

Author: Ambrogio Visconti