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Latham & Watkins Advises Aspiration in de-SPAC Merger With InterPrivate III Financial Partners Inc.

August 18, 2021
A multidisciplinary deal team is advising on the transaction that will make Aspiration the first ESG-focused financial services institution to be publicly listed.

Aspiration Partners, Inc. (Aspiration or the Company), a global leader in Sustainability as a Service solutions for consumers and companies, and InterPrivate III Financial Partners Inc. (NYSE: IPVF) (InterPrivate III), a publicly-traded special purpose acquisition company, have announced a definitive merger agreement that will result in Aspiration becoming a publicly listed company. Upon closing of the transaction, the company will be named Aspiration, Inc., and is expected to be listed on the New York Stock Exchange under the new ticker symbol ASP. The transaction implies a pro forma equity valuation for Aspiration of US$2.3 billion.

Latham & Watkins LLP represents Aspiration in the transaction with a corporate deal team led by New York partner Justin Hamill and Bay Area partner Ben Potter, with associates Nima Movahedi, Brian Umanoff, Nathan Wages, Joshua Reisman, and Jack Vanderford. Advice was also provided on capital markets matters by Washington, D.C. partners Rachel Sheridan and Shagufa Hossain, with associates Christopher Bezeg and Concepcion Olivera; on tax matters by Bay Area partner Grace Lee, with associate Alan Kimball; on benefits and compensation matters by Los Angeles partner Michelle Carpenter, with associates Megan Ampe and Joseph Benedetto; on debt finance matters by Bay Area partner Haim Zaltzman and Los Angeles partner Elizabeth Oh; on intellectual property matters by Bay Area partner JD Marple, with associate Caroline Omotayo; on broker dealer matters by New York partner Stephen Wink, with associates Naim Culhaci and Jackie Rugart; on investment advisor matters by Chicago partner Nabil Sabki, with associate John Reinert; and on antitrust matters by Washington, D.C. partner Amanda Reeves and counsels Joseph Simei and Peter Todaro.