Debevoise, Skadden Rep Real Estate Tech. SPAC's $250M IPO

By Grace Dixon (May 25, 2021, 5:01 PM EDT) -- The latest in a series of blank-check companies backed by Fifth Wall began trading on the Nasdaq on Tuesday after telling regulators it plans to raise $250 million in an initial public offering guided by Debevoise & Plimpton LLP and underwriters' counsel Skadden Arps Slate Meagher & Flom LLP.

Fifth Wall Acquisition III, a special purpose acquisition company seeking to combine with a real estate technology company, sold 25 million Class A shares at $10 apiece. Underwriters have a 45-day option to buy an additional 3.75 million units. The IPO is expected to close Thursday.

The company clarified that it hopes...

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