New York – Paul Hastings LLP, a leading global law firm, announced today that Pine Island Acquisition, a special-purpose acquisition company, priced its $200 million initial public offering of 20 million units at $10 per unit. The units are listed on the NYSE under the symbol PIPP.U.
Pine Island Acquisition was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar combination, with a focus on the aerospace, defense and government services industries. Pine Island Acquisition is led by Chairman John Thain and CEO and Director Philip Cooper, both co-founders of Pine Island Capital Partners. Mr. Thain formerly served as CEO and Chairman of CIT Group, as the last CEO and Chairman of Merrill Lynch & Co., Inc. and as CEO of the New York Stock Exchange. Mr. Cooper was previously a partner at Goldman Sachs where he founded and led the Goldman Sachs Private Equity Group. Pine Island Acquisition’s board of directors includes former Ambassador Stuart Holliday, former Ambassador Capricia Marshall, and Michael Roemer, and Pine Island Capital Partners’ team includes professionals with deep experience and extensive access across the defense, government service and aerospace industries, including former Senators Saxby Chambliss, Byron Dorgan, Tom Daschle, and Don Nickles, former House Majority Leader Dick Gephardt, General Lloyd Austin III, Ret., Admiral Michael Mullen, Ret., and David Wajsgras, former president of the Intelligence, Information and Services business of the former Raytheon Company.
The Paul Hastings team advising Pine Island was led by Frank Lopez, Jonathan Ko and James Shea and included Shai Vander and Kyle Birnbaum (Securities and Capital Markets), Amit Mehta, Tyler Born, Jon Simons and James Edmonds (Private Equity) and Douglas Schaaf and Amy Lawrence (Tax).
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