Compass Digital Acquisition $200 million IPO
We advised the SPAC on its IPO and Nasdaq listing
Davis Polk advised Compass Digital Acquisition Corp. in connection with the $200 million initial public offering of 20,000,000 units of Compass Digital Acquisition Corp. Each unit consists of one Class A ordinary share and one-third of one redeemable warrant to purchase one Class A ordinary share of Compass Digital Acquisition Corp. The units were listed on the Nasdaq Capital Market under the symbol “CDAQU.”
Compass Digital Acquisition Corp. is a newly organized, special purpose acquisition company (SPAC) formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The company intends to concentrate on businesses in the technology sector, including in the technology-led digital transformation software and services sector.
The Compass Digital sponsor is led by Abid Neemuchwala, the former CEO of Wipro, and Vikram Pandit is senior adviser to the sponsor.
The Davis Polk corporate team included partner Louis L. Goldberg and associates Gil Savir, Jamie Kurtz, Marisa Rametta, Sarah H. Moller and Soo Kyung Chae. The tax team included partner Ethan R. Goldman and associate Daniel L. Jose. All members of the Davis Polk team are based in the New York office.