Andretti Acquisition Corp. SPAC Completes IPO

Paul, Weiss advised special purpose acquisition company Andretti Acquisition Corp. in its $230 million initial public offering. The offering included 23 million units after the underwriter exercised its over-allotment option in full. Each unit consists of one Class A ordinary share and one half of one public warrant, with each whole public warrant entitling the holder to purchase one Class A ordinary share at a price of $11.50. RBC Capital Markets, LLC acted as sole bookrunner for the offering. The units are trading under the ticker symbol “WNNR.U” on the NYSE.

The company seeks to focus on business combinations in the automotive industry, including but not limited to advanced mobility and related next-generation technologies, premium and performance vehicles and replacement automotive parts companies.

The Paul, Weiss team included corporate partner Raphael Russo, tax partner Lindsay Parks and litigation partner Gregory Laufer.