We advised the underwriters on the SPAC IPO and NYSE listing

Davis Polk advised the representative of the several underwriters, in connection with the initial public offering of 54,875,000 units of Warburg Pincus Capital Corporation I—B, including 4,875,000 units purchased pursuant to the partial exercise of the underwriter’s option to purchase additional units, for aggregate proceeds of $548.75 million. Each unit consists of one Class A ordinary share and one-fifth of one redeemable warrant to purchase one Class A ordinary share of Warburg Pincus Capital Corporation I—B. The units are expected to be listed on the New York Stock Exchange under the symbol “WPCB.U.”

Warburg Pincus Capital Corporation I—B is a newly incorporated special purpose acquisition company (SPAC) whose business purpose is to effect a merger, capital stock exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. Although Warburg Pincus Capital Corporation I—B is not limited to a particular industry for purposes of consummating a business combination, it intends to focus on identifying a prospective target business with strong fundamental growth that could benefit from Warburg Pincus’ longstanding experience, global presence, domain expertise, operational support and extensive networks and that presents potential for an attractive risk-adjusted return profile.

The Davis Polk corporate team included partners Derek Dostal and Mark M. Mendez and associates Rahul K. Patel, Sana Bargach and Tomislava Dragicevic. The tax team included partner Mario J. Verdolini and associate Ben Levenback. 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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