PROOF Acquisition Corp I’s $276 Million Initial Public Offering

Steptoe & Johnson LLP served as legal advisor to PROOF Acquisition Corp I (PAC I) in its upsized initial public offering. Freshfields Bruckhaus Deringer US LLP acted for the underwriter.

PROOF Acquisition Corp I closed its public offering of 27,600,000 units, which included the full exercise of the underwriter’s over-allotment option. 

The units are listed on the New York Stock Exchange (NYSE) and trade under the ticker symbol “PACI.U”. After the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on NYSE under the symbols “PACI” and “PACI.WS,” respectively.

BofA Securities served as the sole book-running manager for the offering.

PAC I is a special purpose acquisition company (SPAC) formed for the purpose of effecting a business combination with one or more target businesses and sponsored by PROOF.VC, a growth-stage venture capital firm. 

The Steptoe team advising PAC I included partners Scott Fisher (Picture), Lisa Zarlenga, and Aaron Nocjar, as well as associates Brendan George and John Cobb and paralegal Siobhan Smith.

 

Involved fees earner: John Cobb – Steptoe & Johnson LLP; Scott Fisher – Steptoe & Johnson LLP; Brendan George – Steptoe & Johnson LLP; Aaron Nocjar – Steptoe & Johnson LLP; Lisa Zarlenga – Steptoe & Johnson LLP;

Law Firms: Steptoe & Johnson LLP;

Clients: PROOF Acquisition Corp I (PAC I) ;

Sonia Carcano

Author: Sonia Carcano