Debevoise & Plimpton LLP advised Fifth Wall Acquisition Corp III (FWAC), a special purpose acquisition company (or a “SPAC”) with a focus on acquiring a technology business within the real estate industry as well as adjacent industries, in its $275 million initial public offering of 27,500,000 Class A Ordinary shares at $10 per share. FWAC now trades on Nasdaq under the symbol “FWAC”. For more information, please see the company’s press release.

FWAC granted the underwriters a 45-day option to purchase up to an additional 3,750,000 Class A Ordinary Shares at the initial public offering price to cover over-allotments, which the underwriters partially exercised for an additional 2,500,000 Class A Ordinary Shares, leaving 1,250,000 Class A Ordinary Shares still available under the option.

The team was led by capital markets partner Steven Slutzky and counsel Joshua Samit and included associates Jonathan Steinberg and Michael Stephan, tax partner Peter Furci, counsel Samuel Duncan and associate Shanna Adler.