Davis Polk advised the underwriters in connection with the $575 million initial public offering of 57,500,000 units of Vy Global Growth, which includes 7,500,000 units from the full exercise of the underwriters’ over-allotment option to purchase additional units. Each unit consists of one Class A ordinary share and one-fifth of one redeemable warrant to purchase one Class A ordinary share of Vy Global Growth. The units were listed on the New York Stock Exchange under the symbol “VYGG.U.”
Vy Global Growth 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. Vy Global Growth intends to partner with a technology business that will benefit from Vy Global Growth’s global expertise to define the future of its industry. Vy Global Growth believes its investing and operating experience, together with its deep network of founder relationships, will enable it to identify a wide range of attractive potential business combinations.
The Davis Polk corporate team included partners Derek Dostal and Deanna L. Kirkpatrick and associate Gil Savir. The tax team included partner William A. Curran and associate Rebecca A. Rosen. Counsel Marcie A. Goldstein provided FINRA advice. All members of the Davis Polk team are based in the New York office.