Global law firm White & Case LLP has advised ION Acquisition Corp. 1 Ltd., a publicly traded special purpose acquisition company, with US$259 million in trust, on its merger with Taboola.com Ltd., a global leader in powering recommendations for the open web in connection with which Taboola will be publicly listed on the New York Stock Exchange.
Taboola has also secured approximately US$285 million in primary and secondary PIPE financing from institutional investors. The transaction implies a pro forma valuation of approximately US$2.6 billion for Taboola. The transaction is expected to close in Q2 of 2021.
"This transaction represents a continuation of White & Case's longstanding commitment to bringing Israeli companies to the US market," said Colin Diamond who leads the Firms' Israel practice. "We are seeing strong interest from companies in Israel in SPAC transactions and are also working with a number of such companies on their potential go public transactions. We congratulate ION and Taboola on this milestone."
The White & Case team was led by partners Joel Rubinstein, Jonathan Rochwarger, Robert Chung and Kristen Rohr, all in New York. The team also included partners Marc Israel (Antitrust) and Tim Hickman (Cybersecurity), both in London; Rebecca Farrington (Antitrust), Farhad Jalinous and Keith Schomig (CFIUS), all in Washington, DC; Steven Gee (Tax), Erin Hanson (IP), Victoria Rosamond (ECB), Seth Kerschner (Environmental) and Steven Lutt (Real Estate), all in New York; counsels Henrikki Harsu (Capital Markets) in New York, Amy Kurland (Real Estate) in Chicago, and Paul Pittman (Cybersecurity) in Washington, DC; associates Bob Lehner (Capital Markets) in London; Owen Kim and Kelly Funderburk (M&A), Sarah Ross, Leia Andrew and Steven Glendon (Capital Markets), Arian Mossanenzadeh and Caroline Cima (ECB) and Anthony Johnson (IP), all in New York; Sarah Phillips and Warren Hill (M&A) both in Silicon Valley; and Sandra Jorgensen (Sanctions/Export Controls) and Jonathan Black (Anti-Corruption) both in Washington, DC.
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