Paul, Weiss Advises Credit Suisse in Berkshire Grey SPAC Combination

Paul, Weiss is representing Credit Suisse Securities LLC as lead capital markets advisor to Berkshire Grey in its business combination with special purpose acquisition company Revolution Acceleration Acquisition Corp. and as sole PIPE placement agent. Berkshire Grey is a developer of integrated artificial intelligence and robotic solutions for e-commerce, retail replenishment and logistics. Upon closing, the combined company will become a publicly traded company with an equity value of up to $2.7 billion.

The business combination and related financings are expected to provide up to $413 million in cash to the combined company, including a fully committed $165 million common stock PIPE with certain shareholders rolling 100% of their equity into the combined company, assuming no redemptions from the trust account. The transaction is expected to close during the second quarter of 2021, subject to customary closing conditions and approvals.

The Paul, Weiss team includes corporate partner Brian Janson and counsel David Curtiss.