Global law firm White & Case LLP has advised ION Acquisition Corp. 2 Ltd., a publicly traded special purpose acquisition company with US$253 million in trust, on its proposed merger with Innovid, Inc., a global leader in connected TV ad delivery and measurement, in connection with which Innovid will become publicly listed on the New York Stock Exchange.
Innovid also secured approximately US$150 million in primary and secondary PIPE financing from institutional investors. The transaction implies a pro forma valuation of approximately US$1.3 billion for Innovid and is expected to close in the fourth quarter of 2021.
The White & Case team was led by partners Robert Chung and Colin Diamond in New York and Jason Rocha in Houston. The team also included partners Joel Rubinstein and Jonathan Rochwarger (Capital Markets), Seth Kerschner (Environmental), Steven Lutt (Real Estate), Sang Ji (Tax), and Victoria Rosamond (Executive Compensation) in New York; partners Marc Israel (Antitrust) and Tim Hickman (Data Privacy) in London; partner Howard Wettan (Tech Transactions) in Silicon Valley; partner Karalyn Mildorf (CFIUS) and counsel F. Paul Pittman (Cybersecurity) in Washington DC; associates Donte Bronaugh, James-Paul Cumming and Alla Schwalbenberg (all Capital Markets), Ketan Pastakia, Jaime Ma, Elizabeth Goodwin, Kelly Funderburk, Christian Berger, Michael Xu and Jennifer Chu (all M&A) in New York; associates Alejandro Martinez de Hoz (Disputes), Ashley Williams (Trade Compliance), and Mark Williams (Data Privacy) in Washington DC; associate Warren Hill (M&A) in Silicon Valley; and associates Neil Clausen (Tax), Philip Reyneke (M&A), and Rachel Collier (Capital Markets) in Houston.
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