We advised the SPAC on the transaction

Davis Polk is advising LIV Capital Acquisition Corp. (“LIVK”), a special purpose acquisition company, in connection with its approximately $482 million business combination with AgileThought, Inc. to create a Nasdaq-listed, publicly traded company. The transaction, which is expected to close in the third quarter of 2021, was unanimously approved by the boards of directors of both AgileThought and LIVK and is subject to approval by LIVK’s shareholders.

The transaction is expected to deliver approximately $124 million primary gross proceeds, including $81 million of cash held in LIVK’s trust account and a fully committed $43 million investment by PIPE investors and LIV Capital at $10.00 per share.

LIVK is a blank check company formed in 2019 for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities. LIVK is an affiliate of LIV Capital, a private equity firm founded in 2000 in order to make equity investments in high-growth businesses in Mexico or with a significant presence in that country. AgileThought is a provider of agile-first software at scale, end-to-end digital transformation and consulting services to Fortune 1000 customers with diversity across end-markets and industry verticals. 

The Davis Polk corporate team includes partners Derek Dostal, Leonard Kreynin and Lee Hochbaum and associates Michael Senders, Michael Santos and Michael Jiang. Partner William A. Curran and associate Elina Khodorkovsky are providing tax advice. Counsel Stephen I. Brecher is providing executive compensation advice. Partner David R. Bauer is providing intellectual property advice. All members of the Davis Polk team are based in the New York office.