June 14, 2021
Boxed, Inc., an e-commerce grocery shopping platform selling bulk consumables to households and businesses, and Seven Oaks Acquisition Corp. (Seven Oaks or SVOK) (Nasdaq: SVOK, SVOKU, SVOKW), a publicly-traded special purpose acquisition company, have announced a definitive agreement for a business combination that would result in Boxed becoming a public company. The combined company will be called Boxed, Inc. upon the closing of the transaction and is expected to be listed in the US under a new ticker symbol. Boxed will continue to be led by Chieh Huang, Boxed’s Chief Executive Officer. Gary Matthews, Chairman and Chief Executive Officer of Seven Oaks Acquisition Corp., will serve as Boxed’s Chairman of the Board when the business combination is complete.
Latham & Watkins LLP represents Boxed in the deSPAC transaction with an M&A team led by New York partner Justin Hamill and Bay Area partner Chad Rolston, with Bay Area associate Tessa Bernhardt and New York associate Trevor Kim. Advice was provided on capital markets matters by New York partner Marc Jaffe and Orange County partner Drew Capurro, with Orange County associates Eric Hanzich, Abby Timmons, and Tiana Baghdikian; on equity-linked product matters by New York partner Reza Mojtabaee-Zamani, with New York associates Polina Tulupova and Jack Neff; on tax matters by Bay Area partner Grace Lee, with Bay Area associate Jacob Meninga; on benefits and compensation matters by New York partner Austin Ozawa, with New York associate Anne Bracaglia; and on data and technology transactions matters by Bay Area partner Michelle Gross, with Los Angeles associate Veronica Ye.