Davis Polk advised the representatives of the several underwriters, in connection with the initial public offering of 36,000,000 units of CC Neuberger Principal Holdings I, including 5,400,000 units purchased pursuant to the full exercise of the underwriters’ option to purchase additional units, for aggregate proceeds of $414 million. Each unit consists of one Class A ordinary share and one-third of one warrant to purchase one Class A ordinary share of CC Neuberger Principal Holdings I. The units were listed on the New York Stock Exchange under the symbol “PCPL.U.”

CC Neuberger Principal Holdings I, led by Chinh E. Chu, Douglas Newton, Charles Kantor and other senior professionals of CC Capital and Neuberger Berman, is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Although CC Neuberger Principal Holdings I is not limited to a particular industry or geographic region for purposes of consummating a business combination, it intends to focus on the financial, technology and business services sectors.

The Davis Polk corporate team included partners Derek Dostal and Deanna L. Kirkpatrick, associate Amy Mao. The tax team included partner Mario J. Verdolini and associate Talya Presser. Counsel Marcie A. Goldstein provided FINRA advice. All members of the Davis Polk team are based in the New York office.

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