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.
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For more than a century, Vinson & Elkins has provided outstanding client service across important industries that drive the global economy. Built on a strong culture of collaboration across 11 offices worldwide, V&E lawyers are committed to excellence, offering clients decades of legal experience in handling transactions, investments, projects and disputes across the globe. Learn more by visiting www.velaw.com or connect with us on LinkedIn.
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