Itiquira Acquisition $230 million IPO
Davis Polk advised the underwriters in connection with the initial public offering of 23,000,000 units of Itiquira Acquisition Corp. for aggregate proceeds of $230 million. Each unit consists of one Class A ordinary share and one-half of one warrant to purchase one Class A ordinary share of Itiquira Acquisition Corp. The units were listed on the Nasdaq Capital Market under the symbol “ITQRU.”
Itiquira Acquisition Corp., sponsored by Paulo Carvalho de Gouvea and CH Global Capital, LLC, is a special purpose acquisition company (SPAC) whose business purpose is to effect a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Itiquira Acquisition Corp. intends to focus its search for a target in Brazil and in sectors with strong growth potential benefitting from positive trends in the country, including healthcare, technology, financial services, education and consumer services.
The Davis Polk corporate team included partners Derek Dostal and Manuel Garciadiaz and associates Eryn E. Gordon and Jakub P. Jozwiak. The tax team included partner William A. Curran and associate Sunny Kim. Counsel Marcie A. Goldstein provided FINRA advice. All members of the Davis Polk team are based in the New York office.