Davis Polk advised Virgin Group Acquisition Corp. II on its $350 million initial public offering of 35,000,000 units. Each unit had an initial offering price of $10 and consists of one Class A ordinary share and one-fifth of one redeemable warrant. The units, the shares and the warrants are listed on the New York Stock Exchange.
Virgin Group Acquisition Corp. II was founded by Sir Richard Branson, the founder of the Virgin Group. The company is a special purpose acquisition company (SPAC) incorporated for the purpose of effecting an initial business combination, and intends to focus its search for business in one of the Virgin Group’s core sectors: travel & leisure, financial services, health & wellness, technology & internet-enabled, music & entertainment, media & mobile and renewable energy/resource efficiency.
The Davis Polk capital markets team included partners Derek Dostal and Deanna L. Kirkpatrick and associates Rahul Patel and Arisa Akashi. The corporate team included partners Lee Hochbaum and William H. Aaronson. Partner Adam Kaminsky and associate Justin Alexander Kasprisin provided executive compensation advice. The tax team included partner William A. Curran. Members of the Davis Polk team are based in the New York and Washington DC offices.