Mergers & Acquisitions
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Our M&A lawyers are among the most experienced and effective in the world. We represent many of the world's largest publicly traded and privately held companies, as well as leading private equity firms, financial advisors and other financial institutions and investors on their most important mergers, acquisitions and takeover transactions.
Pine Technology SPAC to Merge With Tomorrow.io
- Client News
- December 7, 2021
Paul, Weiss is advising special purpose acquisition company Pine Technology Acquisition Corp. in its merger with The Tomorrow Companies Inc. (Tomorrow.io), the developer of a leading platform for global weather and climate security. The high-growth SaaS company is backed by sophisticated technology and has an ESG mission to significantly improve weather forecasting and enable countries, communities, businesses and individuals to better prepare for significant weather events and climate change. Upon completion of the transaction, expected to close in the first half of 2022, Tomorrow.io will become a publicly traded company.
The pro forma equity value of the combined company is approximately $1.2 billion; the transaction will provide up to $420 million of gross proceeds, including $75 million through a fully-committed private investment in public equity deal (PIPE) at $10.00 per share. The PIPE includes commitments from funds managed by Koch Strategic Platforms; National Grid Partners; JetBlue Technology Ventures; SB Energy Corp., SoftBank Group’s Japanese wholly-owned subsidiary; and Pine Technology’s sponsor, Pine Technology Sponsor LLC.
The Paul, Weiss team includes corporate partners Adam Givertz, Raphael Russo and Christopher Cummings, and counsel Jason Tyler and David Curtiss; tax partners Brian Grieve and David Mayo; intellectual property partner Jonathan Ashtor and counsel Michael Kurzer; litigation partner Andrew Gordon and counsel Steven Herzog; international trade counsel Richard Elliott; antitrust counsel Yuni Sobel and Marta Kelly; and executive compensation counsel Reuven Falik.