Davis Polk advised the representative of the several underwriters, in connection with the initial public offering of 16,560,000 CAPS of Periphas Capital Partnering Corporation, including 2,160,000 CAPS purchased pursuant to the full exercise of the underwriters’ option to purchase additional CAPS, for aggregate proceeds of $414 million. Each CAPS consists of one share of Class A common stock and one-fourth of one warrant to purchase one share of Class A common stock of Periphas Capital Partnering Corporation. The CAPS were listed on the New York Stock Exchange under the symbol “PCPC.U.”

Periphas Capital Partnering Corporation is a newly organized special purpose acquisition company (SPAC) established for the purpose of identifying a company to partner with in order to effectuate a merger, share exchange, asset acquisition, share purchase, reorganization or similar partnering transaction with one or more businesses. While Periphas Capital Partnering Corporation is not limited to a particular industry or geographic region, given the experience of its management team, its partnering transaction and value creation strategy is to identify and build a company in partnership with a company, its management team and existing owners.

The Davis Polk corporate team included partners Derek Dostal and Deanna L. Kirkpatrick and associate David D. Kim. The tax team included partner Lucy W. Farr and associates Aliza Slansky and Tyler Scheiner. Counsel Marcie A. Goldstein provided FINRA advice. All members of the Davis Polk team are based in the New York office.

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