Natural Order Acquisition Corp. Initial Public Offering

Davis Polk advised the underwriters in connection with the $230 million initial public offering of 23,000,000 units of Natural Order Acquisition Corp., which includes 3,000,000 units from the full exercise of the underwriters’ over-allotment option to purchase additional units. Each unit consists of one share of common stock and one redeemable warrant to purchase one-half share of common stock of Natural Order Acquisition Corp. The units were listed on the Nasdaq Capital Market under the symbol “NOACU.”

Natural Order Acquisition Corp. is a newly organized, 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 or entities. As such, Natural Order Acquisition Corp. intends to pursue prospective targets that are focused on technologies and products related to plant-based food and beverages, alternative protein and other alternatives to animal products.

The Davis Polk corporate team included partners Derek Dostal and Roshni Banker Cariello and associates Gil Savir and Michael F. Power. The tax team included partner Patrick E. Sigmon and associate Shay Moyal. Counsel Marcie A. Goldstein provided FINRA advice. All members of the Davis Polk team are based in the New York office.