Andrew Barker
Partner
Cayman Islands
Our Cayman Islands Corporate team acted for KPET Ultra Paceline Corporation, a special purpose acquisition company, on its US$200m initial public offering on the NYSE under the ticker 'KPET.U'.
The offering consisted of 20m units at US$10.00 per unit, with each unit consisting of one Class A ordinary share and one-sixth of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary shares at an exercise price of US$11.50 per share.
The SPAC is led by CEO and Chairman Karl Peterson, Head of KPThree Capital and former Senior Partner of TPG and Managing Partner of TPG Pace Group, together with CFO and President Eduardo Tamraz, formerly a senior executive at TPG Pace Group.
Vinson & Elkins acted as U.S. counsel, with Deutsche Bank Securities Inc. acting as sole bookrunner on the offering.
Our team was led by Corporate partners Andrew Barker and Michael Beck alongside associate Miriam El Ofir.
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