C5 Acquisition Corporation SPAC Completes $287.5 Million IPO

Paul, Weiss advised special purpose acquisition company C5 Acquisition Corporation in its $287.5 million initial public offering. The offering included 28.75 million units after the underwriter exercised its over-allotment option in full. Each unit consists of one share of Class A common stock and one half of one public warrant, with each whole public warrant entitling the holder to purchase one share of Class A common stock at a price of $11.50. The units are trading under the ticker symbol "CXAC.U" on the NYSE.

While C5 is open to pursuing an initial business combination with companies in any industry, it intends to focus on businesses at the leading edge of national security innovation in three key sectors: space, cybersecurity and energy transition.

The Paul, Weiss team included corporate partners Raphael Russo and Marco Masotti, and counsel Caitlin Kelly.