Davis Polk advised the underwriters in connection with the initial public offering of 30,000,000 units of Prime Impact Acquisition I, for aggregate proceeds of $300 million. Each unit consists of one Class A ordinary share and one-third of one warrant to purchase one Class A ordinary share of Prime Impact Acquisition I. The units were listed on the New York Stock Exchange under the symbol “PIAI.U.”
Prime Impact Acquisition I, led by Mike Cordano, Mark Long, Jim McLean 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. Prime Impact Acquisition I intends to focus on acquisition opportunities that capitalize on the growth of the data-centric economy.
The Davis Polk corporate team included partners Alan F. Denenberg and Derek Dostal and associates Arisa Akashi, Moses Farzan Nekou, Jose Lucena-Rebollo and Ben Somogyi. The tax team included partner William A. Curran and associate Yixuan Long. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the Northern California, New York and Madrid offices.