Yellowstone Acquisition Company’s $125 Million Initial Public Offering


Davis Polk advised the sole book runner, Wells Fargo Securities, LLC, in the offering.

Yellowstone Acquisition Company completed its initial public offering of 12,500,000 units for aggregate proceeds of $125 million. Each unit consists of one share of Class A common stock and one-half of one warrant to purchase one share of Class A common stock of Yellowstone Acquisition Company. The units were listed on the Nasdaq Stock Market Exchange under the symbol “YSACU.” The company has granted the underwriters a 45-day option to purchase up to an additional 1,875,000 units at the initial public offering price to cover over-allotments, if any.

Yellowstone Acquisition Company, incorporated in Delaware, is a special purpose acquisition company (SPAC) whose business purpose of which is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Although Yellowstone Acquisition Company is not limited to a particular industry or geographic region for purposes of consummating a business combination, it intends to focus on identifying a prospective target business in the homebuilding, manufacturing serving the homebuilding market, financial services and commercial real estate industries in the United States.

The Davis Polk corporate team advising Wells Fargo Securities included partners Derek Dostal (Picture) and Deanna L. Kirkpatrick and associates Elliot M. de Carvalho and Yushen Liu. The tax team included partner Lucy W. Farr and associate Joseph M. Gerstel. Counsel Marcie A. Goldstein provided FINRA advice.

Involved fees earner: Elliot de Carvalho – Davis Polk & Wardwell; Derek Dostal – Davis Polk & Wardwell; Lucy Farr – Davis Polk & Wardwell; Joseph Gerstel – Davis Polk & Wardwell; Marcie Goldstein – Davis Polk & Wardwell; Deanna Kirkpatrick – Davis Polk & Wardwell; Yushen Liu – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Wells Fargo Securities;

Author: Ambrogio Visconti