We advised the underwriters on the SPAC IPO and NYSE listing

Davis Polk advised the underwriters in connection with the initial public offering of 34,500,000 units of Enphys Acquisition Corp., including 4,500,000 units purchased pursuant to the full exercise of the underwriters’ option to purchase additional units, for aggregate proceeds of $345 million. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant to purchase one Class A ordinary share of Enphys Acquisition Corp. The units were listed on the New York Stock Exchange under the symbol “NFYS.U.”

Enphys Acquisition Corp. is a newly incorporated special purpose acquisition company (SPAC) whose business purpose is to effect a merger, capital stock exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. Although Enphys Acquisition Corp. is not limited to a particular industry for purposes of consummating a business combination, it intends to focus on identifying businesses which predominantly operate in Ibero-America and whose business strategy is aligned with energy transition and sustainability themes, in particular renewable energy.

The Davis Polk corporate team included partner Derek Dostal and associate Joanna Sedlak. The tax team included partner Ethan R. Goldman and associate Eitan Ulmer. Counsel Marcie A. Goldstein provided FINRA advice. All members of the Davis Polk team are based in the New York office.