New Energy One Acquisition £175 million IPO
Davis Polk advised the underwriters in connection with the initial public offering of 15,654,604 ordinary shares of New Energy One Acquisition Corporation Plc for aggregate proceeds of £175 million. Every two ordinary shares gives the holder the automatic right to receive one warrant, with each warrant carrying an entitlement to subscribe for one ordinary share. The ordinary shares and warrants have been admitted to the standard listing segment of the Official List maintained by the Financial Conduct Authority and to trading on the London Stock Exchange’s main market for listed securities under the symbols “NEOA” and “NEOW,” respectively.
New Energy One Acquisition Corporation Plc is a special purpose acquisition company (SPAC) incorporated in England that has been established to focus on pursuing a business combination with targets that are positioned to participate in or benefit from the global transition towards a low carbon economy.
The Davis Polk corporate team included partners Simon Witty, Reuven B. Young and Dan Hirschovits and associates James Ufland, Francesco Mancuso and Gilbert Lim. Partner Jonathan Cooklin and counsel Dominic Foulkes and Alon Gurfinkel provided tax advice. Associate Mark Chalmers provided regulatory advice. All members of the Davis Polk team are based in the London office.