Akin Gump Advises Zimmer Energy Transition Acquisition Corp. in Its $345 Million IPO
(New York) – Zimmer Energy Transition Acquisition Corp., a special purpose acquisition company listed on the Nasdaq Global Market, today announced the closing of its initial public offering (IPO) of 34.5 million units at a price of $10.00 per unit, which includes the full exercise of the underwriters’ option to purchase an additional 4.5 million units from the company. A team from Akin Gump advised Zimmer Energy Transition Acquisition Corp. on its formation and IPO.
Gross proceeds from the offering were $345 million. Each unit consists of one share of the company’s Class A common stock and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable.
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The Akin Gump team advising Zimmer Energy Transition Acquisition Corp. was led by corporate partner Alice Hsu. She was joined by corporate partner Cynthia Mabry, senior counsel Alexandra Reuss, senior regulatory counsel William Wetmore and associate Alan Sanchez; investment management partner Jason Daniel; and tax partner Josh Williams.
Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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