Thoma Bravo’s $900 Million SPAC

Cadwalader advised Thoma Bravo, while Latham & Watkins LLP represented the underwriters in the offering.

Thoma Bravo launched its $900 million special purpose acquisition company (SPAC) that will target an acquisition in the software and technology sectors. In its SEC filing, Thoma Bravo said it plans to raise $900 million by offering 90 million units at $10. Each unit consists of one share of common stock and one-fifth of a warrant, exercisable at $11.50.

Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Credit Suisse Securities (USA) LLC, Academy Securities, Inc., Blaylock Van, LLC, Cabrera Capital Markets LLC, Drexel Hamilton, LLC, and Tigress Financial Partners LLC acted as underwriters for the offering.

Thoma Bravo is one of the U.S.’s leading private equity firms, with more than 270 transactions to date. The firm focuses on the software and technology-enabled services sectors and has more than $70 billion in assets under management.

Cadwalader representing Thoma Bravo with a team led by Corporate partners Stephen Fraidin (Picture) and Greg Patti and including associates Niral Shah, Erica Hogan and Chelsea Donenfeld and Tax partner Jason Schwartz and associate Matthew Seitz.

Latham & Watkins LLP represented the underwriters in the offering with a corporate team led by New York partners Ian Schuman and Erika Weinberg and Houston partner Ryan Maierson, with New York associates Sami Ghneim, Tomer Stein, and Jonathan Hernandez. Advice was also provided on tax matters by Los Angeles/Century City partner Pardis Zomorodi, with Los Angeles associate Abigail Friedman.

Involved fees earner: Chelsea Donenfeld – Cadwalader Wickersham & Taft; Stephen Fraidin – Cadwalader Wickersham & Taft; Erica Hogan – Cadwalader Wickersham & Taft; Gregory Patti – Cadwalader Wickersham & Taft; Jason Schwartz – Cadwalader Wickersham & Taft; Matthew Seitz – Cadwalader Wickersham & Taft; Niral Shah – Cadwalader Wickersham & Taft; Abigail Friedman – Latham & Watkins; Sami Ghneim – Latham & Watkins; Jonathan Nicolas Hernandez – Latham & Watkins; Ryan Maierson – Latham & Watkins; Ian Schuman – Latham & Watkins; Tomer Stein – Latham & Watkins; Erika Weinberg – Latham & Watkins; Pardis Zomorodi – Latham & Watkins;

Law Firms: Cadwalader Wickersham & Taft; Latham & Watkins;

Clients: Academy Securities; Blaylock Van, LLC; Cabrera Capital Markets; Citigroup Global Markets Ltd; Credit Suisse Securities (USA) LLC; Deutsche Bank Securities; Drexel Hamilton; Goldman Sachs & Co.; Thoma Bravo; Tigress Financial Partners;

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Author: Ambrogio Visconti