Simpson Thacher Represents Underwriter in Pearl Holdings Acquisition Corp’s SPAC IPO
12.17.21
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Simpson Thacher represented Morgan Stanley & Co. LLC in connection with the initial public offering by Pearl Holdings Acquisition Corp (“Pearl”) of 17,500,000 of its units, which raised $175 million in gross proceeds. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant of Pearl, with each whole warrant exercisable for one Class A ordinary share. The initial public offering closed on December 17, 2021.
Pearl 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. Pearl intends to focus its search for a target business in global consumer-focused industries, including companies that participate in the lifestyle, technology, healthcare and wellness sectors.
The Simpson Thacher team for this transaction included David Azarkh and Saqeef Ahmad (Capital Markets); Sophie Staples and Tyler Robbins (Tax); and Andrew Pagliughi (FINRA).