Kirkland Represents Pioneer Merger Corp. on $2.2 Billion Combination with Acorns Grow Incorporated

Kirkland & Ellis advised Pioneer Merger Corp. (NASDAQ:PACX), a publicly traded special purpose acquisition company, on its proposed business combination with Acorns Grow Incorporated, the saving and investing app. The combined company will continue as a publicly listed entity and have an expected pro-forma fully-diluted equity value of approximately $2.2 billion. Upon completion of the transaction, the combined company will operate as Acorns Holdings, Inc. and is expected to trade under the symbol “OAKS” on the Nasdaq Capital Market. The transaction is expected to close in the second half of 2021 and is subject to customary closing conditions. 

Read the transaction press release  

The Kirkland team was led by corporate partner Marshall Shaffer and capital markets partner Christian Nagler and included corporate partner Eric Schiele as well as special situations associate Alexander Cushman, corporate associates Peter Fritz, Brandon Nesfield and Jay Pak, and capital markets associates Anthony Zangrillo, Beth Palkovic and Siqi Li.