Overview
(December 3, 2021, Washington, DC) — Steptoe & Johnson LLP served as legal advisor to PROOF Acquisition Corp I (PAC I) in its upsized initial public offering of 27,600,000 units, which included the full exercise of the underwriter’s over-allotment option. PAC I is a special purpose acquisition company (SPAC) formed for the purpose of effecting a business combination with one or more target businesses and sponsored by PROOF.VC, a growth-stage venture capital firm. The units are listed on the New York Stock Exchange (NYSE) and trade under the ticker symbol "PACI.U". After the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on NYSE under the symbols "PACI" and "PACI.WS," respectively.
The Steptoe team advising PAC I included partners Scott Fisher, Lisa Zarlenga, and Aaron Nocjar, as well as associates Brendan George and John Cobb and paralegal Siobhan Smith.
About Steptoe
In more than 100 years of practice, Steptoe has earned an international reputation for vigorous representation of clients before governmental agencies, successful advocacy in litigation and arbitration, and creative and practical advice in structuring business transactions. Steptoe has more than 500 lawyers and other professional staff across offices in Beijing, Brussels, Chicago, Hong Kong, London, Los Angeles, New York, San Francisco, and Washington. For more information, visit www.steptoe.com.
The diversity of the firm is a critical factor in its success. The majority of Steptoe's nine offices are managed by women; the majority of Steptoe’s practice groups have women as leaders; the firm’s fourteen-person elected compensation committee includes six women; and the firm's nine-person elected executive committee includes three women. The firm's eight-person professional business services leadership is equally diverse, with half the c-suite made up of women, including three women of color, and other leaders who openly identify as LGBTQ+.
