Global law firm White & Case LLP has advised ION Acquisition Corp 1 Ltd. (the "Company"), a special purpose acquisition company, on its upsized US$258.75 million initial public offering of 25.875 million units at a price of US$10.00 per unit, which includes 3.375 million units issued pursuant to the exercise by the underwriters of their over-allotment option at the initial public offering price. Each unit consists of one Class A ordinary share and one-fifth of one redeemable warrant, with each whole warrant exercisable to purchase one Class A ordinary share at a price of US$11.50 per share. The units are listed on the New York Stock Exchange and trade under the ticker symbol IACA.U. Cowen and Company, LLC served as the sole bookrunning manager for the offering.
The Company is sponsored by ION Holdings 1, LP, an affiliate of ION Asset Management Ltd., and intends to focus on the rapidly growing universe of Israeli companies and entrepreneurs that apply technology and innovation to our everyday lives.
The White & Case Capital Markets team that led the transaction included partners Colin Diamond and Joel Rubinstein, and associate Leia Andrew (all in New York).
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