Gobi Acquisition $250 million IPO
Davis Polk advised the joint book-running managers in connection with the initial public offering of 25,000,000 Class A ordinary shares of Gobi Acquisition Corp. for aggregate proceeds of $250 million. The securities were listed on the Nasdaq Global Market under the symbol “GOBI.”
Gobi Acquisition Corp. is a newly organized, special purpose acquisition company (SPAC) sponsored by PAG Investment, LLC which is also an affiliate of PAG, one of Asia’s largest private investment management groups. It intends to capitalize on the broader PAG platform where they believe a combination of their relationships, knowledge and experience across industries can effect a positive transformation or augmentation of an existing business.
The Davis Polk corporate team included partner James C. Lin and registered foreign lawyer Moran Zhang. The tax team included counsel Alon Gurfinkel and associate Bradford Sherman. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the Hong Kong, London and New York offices.