White & Case advises Colonnade Acquisition Corp. II on Business Combination with Plastiq Inc.
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Global law firm White & Case LLP has advised Colonnade Acquisition Corp. II, a special purpose acquisition company (NYSE: CLAA), on its entry into a definitive agreement and plan of merger with Plastiq Inc., a B2B payments company for small and midsize businesses (SMBs). Upon the closing of the transaction, the combined company will be named Plastiq and is expected to be listed on The New York Stock Exchange. The transaction reflects an implied estimated enterprise value of $480 million, assuming no redemptions.
Plastiq’s business is designed to empower SMBs with choice in payment methods, efficiency in automatic payables and receivables, and the ability to unlock cash flow from business credit cards and short term financing. The company decouples the funding method (card or ACH) from the disbursement method (ACH, wire or paper check) to address the mismatch between how businesses and vendors want to pay and get paid.
The White & Case team was led by partners Joel Rubinstein, Matthew Kautz (both in New York) and Daniel Nussen (Los Angeles). The team also included associates Eric Clamage, Zachary Smith and Keith Boeker (all in Chicago); partners Sang I. Ji and Victoria Rosamond, counsel James Kong, and associates Sarah Ross, Jared Coppotelli, Audrey Bae, Alla Schwalbenberg, Adriana Zhan, Peter Shelburne, Anthony Veveakis and Nashel Jung (all in New York); partners Rebecca Farrington, F. Paul Pittman and Cristina Brayton-Lewis, and associates Heather Greenfield, Allain Andry, Kyle Levenberg (all in Washington, DC); associate Amy Bagdasarian (Silicon Valley); associate Dan Medici (Boston); and associate Joyce Adetutu (Houston). Law clerk Katherine Madriz also assisted on the matter.
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