22 November 2021
Carey Olsen advises DP Cap Acquisition Corp I on US$200m IPO
Carey Olsen's corporate team in the Cayman Islands has advised DP Cap Acquisition Corp I, a special purpose acquisition company (SPAC), on its initial public offering (IPO) on the Nasdaq Global Market (Nasdaq).
The SPAC will be targeting the tech-enabled consumer and technology sectors, with a specific focus on e-commerce and marketplaces and enterprise software.
The Nasdaq offering consists of 20,000,000 units priced at US$10.00 per unit. Each unit is composed of one Class A common share and one-half of a purchase warrant. Each whole warrant is redeemable for one Class A common share a US$11.50 per share.
Working alongside lead counsel Latham & Watkins LLP, the Carey Olsen team advising DP Cap Acquisition Corp I on the Cayman legal and regulatory aspects of the SPAC's IPO comprised partner Nick Bullmore and counsel Dylan Wiltermuth.
The SPAC is led by chairman Scott Savitz, the founder and managing partner of venture fund manager Data Point Capital, and CEO, CFO and director Martin Zinny, who has held roles at Fidelity, Whale Rock Capital, Point72, Omega Advisors, and Millenium.