Hyzon Motors Announces Business Combination with Decarbonization Plus Acquisition Corporation
Vinson & Elkins advised Decarbonization Plus Acquisition Corporation, a blank check company sponsored by an affiliate of Riverstone Holdings LLC, in its entry into a definitive agreement with Hyzon Motors Inc. (“Hyzon”), the industry-leading global supplier of zero-emissions hydrogen fuel cell powered commercial vehicles, for a business combination that would result in Hyzon becoming a publicly listed company. The transaction is anticipated to provide gross proceeds of up to approximately $626 million to the company, including a $400 million fully committed common stock PIPE at $10 per share, anchored by existing and new investors.
The V&E team was led by partners Dan Komarek, Ramey Layne and Milam Newby and senior associates Stancell Haigwood and Zachary Swartz. Other key team members included Matt Usdin, Devika Kornbacher, Benjamin Cukerbaum, David Peck, Lina Dimachkieh, Brian Russell, Joe Milano, Anita Balasubramanian and Elisie Lee.
About Vinson & Elkins
For more than 100 years, Vinson & Elkins has provided deep experience in handling transactions, investments, projects, and disputes worldwide. The firm is a trusted adviser to clients in the most important industrial and digital industries. Learn more by visiting www.velaw.com or follow us on Twitter @VinsonandElkins or connect with us on LinkedIn.
For more information, please speak with our media contacts.