Davis Polk advised the underwriter in connection with the initial public offering of 30,000,000 units of Broadstone Acquisition Corp., for aggregate proceeds of $300 million. Each unit consists of one Class A ordinary share and one-half of one warrant to purchase one Class A ordinary share of Broadstone Acquisition Corp. The units were listed on the New York Stock Exchange under the symbol “BSN.U.”
Broadstone Acquisition Corp., led by Hugh Osmond, Marc Jonas, Edward Hawkes and other senior professionals, is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Broadstone Acquisition Corp. intends to focus on acquisition opportunities relating to fundamentally sound but stressed businesses in the United Kingdom and Europe.
The Davis Polk corporate team included partner Derek Dostal and associates Jennifer Ying Lan, Arisa Akashi, Eryn E. Gordon and James (Chih-Kai) Lin. The tax team included partner William A. Curran. Counsel Marcie A. Goldstein provided FINRA advice. All members of the Davis Polk team are based in the New York office.