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Davis Polk & Wardwell LLP

03/03/2021 | News release | Distributed by Public on 03/03/2021 16:50

Doma $3 billion business combination with Capitol Investment Corp. V We are advising Doma on its combination with Capitol, a SPAC

We are advising Doma on its combination with Capitol, a SPAC

Davis Polk is advising Doma Holdings, Inc. (f/k/a States Title Holding, Inc.) in connection with its business combination with Capitol Investment Corp. V, a publicly-traded special purpose acquisition company ('SPAC'), that would result in Doma becoming a public company. The combined company is expected to remain listed on the New York Stock Exchange. The estimated enterprise value of the combined company will be approximately $3.0 billion. There is also a fully committed common stock PIPE for $300 million. The transaction, which has been approved by the Boards of Directors of Doma and Capitol, is subject to approval by Doma and Capitol's shareholders and other customary closing conditions.

Doma, headquartered in San Francisco, California, is a technology company using machine intelligence and its patented technology solutions to transform the title insurance and escrow industries. Capitol is a SPAC, with a management team led by Mark D. Ein and L. Dyson Dryden.

The Davis Polk corporate team includes partner Stephen Salmon, counsel Jason Bassetti and associate Sylvia Zaich. The tax team includes partner Patrick E. Sigmon and associates Joshua J. Micelotta and Constance Zhang. Partner Veronica M. Wissel and associate Tessa Patti are providing executive compensation advice. Partner Pritesh P. Shah and associate Jesse L. Hallock are providing intellectual property advice. Members of the Davis Polk team are based in the Northern California and New York offices.