Davis Polk advised the underwriters in connection with the $350 million initial public offering of 40,250,000 units of Star Peak Corp II, which includes 5,250,000 units from the full exercise of the underwriters’ over-allotment option to purchase additional units. Each unit consists of one Class A common stock and one-fourth of one redeemable warrant to purchase one Class A common stock of Star Peak Corp II. The units were listed on the New York Stock Exchange under the symbol “STPC.U.”
Star Peak Corp II is a newly formed 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. Star Peak Corp II intends to focus its search for a target business operating in a sustainability related industry in North America.
The Davis Polk corporate team included partners Derek Dostal and Deanna L. Kirkpatrick and associate Gil Savir. The tax team included counsel Kiara L. Rankin and associate Daniel L. Jose. Counsel Marcie A. Goldstein provided FINRA advice. All members of the Davis Polk team are based in the New York office.