Freshfields advised BofA Securities, as representative of the underwriters, on the upsized initial public offering of 27,600,000 units of PROOF Acquisition Corp I on the New York Stock Exchange, including all units subject to the underwriters’ option to purchase additional units, for aggregate proceeds of $276 million. Each unit consists of one share of Class A common stock and one-half of one redeemable warrant. 

More details can be found here.

PROOF Acquisition Corp I is a newly-formed special purpose acquisition company incorporated as a Delaware corporation for the purpose of effecting a merger, capital stock exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. Its objective is to identify and merge with a business that has the potential to achieve sustainable growth and which addresses a large and growing market.

The Freshfields capital markets team consisted of partners Sarah Solum and Pamela Marcogliese, senior associate Scott Blumenkranz, and associates Daniel Fox, Alexander Canahuate and Heather Kellam. FINRA advice was provided by counsel Jeremy Barr.

ENDS