Thursday, January, 20, 2022 09:43:33

Latham & Watkins LLP is reportedly advising 3D-printing business Essentium Inc and electricity market-focused software maker Voltus Inc in two recent mergers with blank check firms. According to credible reports, the company has advised on mergers including special purpose acquisition firms worth around USD 163.12 billion so far this year.

Special purpose acquisition companies (SPACs) secure funds through IPOs (initial public offerings) to merge with privately held firms and take them public. Latham is ranked number one among the top 25 legal advisors backing SPAC transactions this year.

Voltus, the San Francisco-based company cited that it was merging with a SPAC named Broadscale Acquisition Corp in a deal that values the consolidated company at USD 1.3 billion. The Latham team guiding Voltus is led by corporate partners Ryan Maierson, John Chory, and Spencer Ricks along with Andrew Moosmann.

Broadscale turned to Arps, Skadden, Meagher & Flom, Slate including acquisition partners Michael Chitwood and Howard Ellin as well as capital markets collaborator Michelle Gasaway.

In the case of the Essentium deal, a corporate team led by Nick Dhesi and Jenifer Smith was guiding the Texas-based business on its merger with Atlantic Coastal Acquisition Corp. The consolidated company is expected to be worth around USD 974 million.

Atlantic Coastal has tapped Pillsbury Winthrop Shaw Pittman, its IPO advisor, to advise on the consolidation.

Pillsbury cited that corporate partners Bianca Bowen, Stephen Amdur, and Stephen Ashley along with public policy collaborator Matthew Oresman are working on the deal. Amdur also leads the company’s private equity team whereas Oresman heads its global public policy practice.

Moelis & Co LLC is the financial advisor of Atlantic Coastal, with BTIG LLC, Cantor Fitzgerald & Co, Farvahar Capital, and Needham & Co serving as the capital markets advisors of the SPACs. The financial advisor of Essentium is Jefferies.

Source credit:

https://www.reuters.com/legal/transactional/latham-adds-two-blank-check-company-mergers-ma-lineup-2021-12-01/