Davis Polk advised the underwriters in connection with the initial public offering of 25,000,000 units of Levere Holdings Corp., for aggregate proceeds of $250 million. Each unit consists of one Class A ordinary share and one-third of one redeemable warrant to purchase one Class A ordinary share of Levere Holdings Corp. The units are now trading on the Nasdaq Capital Market under the symbol “LVRA.”
Levere Holdings Corp. is a special purpose acquisition company (SPAC) formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company intends to concentrate its efforts on companies who play a key role for the future of mobility, focusing on the development of autonomous driving, connected vehicles, mobility services and electric vehicles.
The Davis Polk corporate team included partners Leo Borchardt and Derek Dostal and associate Serdar Inci. The tax team included counsel Alon Gurfinkel and associate Summer Xia. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the London and New York offices.