K&L Gates Advises D-Orbit on Combination with Breeze Holdings Acquisition Corp.

New York - Global law firm K&L Gates LLP has advised space logistics and transportation company D-Orbit S.p.A. on its combination with Breeze Holdings Acquisition Corp. (NASDAQ:BREZ), a publicly traded special purpose acquisition company. The transaction allows D-Orbit to become publicly listed on the Nasdaq Capital Market under the ticker symbol “DOBT,” and values the combined company at approximately $1.28 billion. 

Based in Italy, D-Orbit is a market leading provider of in-space satellite transportation for commercial and institutional customers and its expanded service capabilities will facilitate infrastructure for cleaner, safer, and more sustainable use of space. In connection with the transaction, Breeze Holdings and D-Orbit are partnering with The Charles F. Bolden Group, a consortium of leaders with extensive space and aerospace experience. The transaction is expected to close in the second or third quarter of 2022, subject to the successful completion of customary conditions including regulatory and shareholder approvals. 

The K&L Gates team that advised D-Orbit was led by New York partner Robert Matlin and included Milan counsel Lorenzo Fratantoni, Chicago partner Brent Williams, New York partners Matthew Ogurick, Anthony Nolan, and Adam Tejeda, and Milan partner Vittorio Salvadori di Wiesenhoff.  

Matlin stated: “It is a pleasure working with the client in reaching its next stage of development as a public company. Being able to contribute to the continuing commercialization of space is a unique opportunity for the firm.”

“K&L Gates made the transaction run very smoothly and the U.S. team and the Italian team acted on a fully integrated basis. I look forward to closing the deal with them,” said Dr. Luca Rossettini, CEO of D-Orbit.