Doma, formerly known as States Title, a leading force for disruptive change in the real estate industry, has entered into a definitive business combination agreement with Capitol Investment Corp. V (NYSE: CAP) (Capitol), a publicly traded special purpose acquisition company, to bring public a leading machine intelligence technology platform for residential real estate according to the company press release. The transaction values Doma at an enterprise value of approximately US$3 billion and is expected to provide up to US$645 million in cash proceeds, including a fully committed PIPE of US$300 million and up to US$345 million of cash held in the trust account of Capitol.

Latham & Watkins LLP represented Capitol Acquisition Corp. V in the transaction with a corporate team led by Washington, D.C. partner Paul Sheridan and Chicago partner Daniel Breslin, with associates Cierra Warren and Jill Rubinger. Advice was also provided on capital markets matters by Washington, D.C. partner Rachel Sheridan, with associates Christopher Clark, Gabrielle Blum, and Gary DePalo; on tax matters by New York partner Lisa Watts, with associate Alan Kimball; and on employee benefits and compensation matters by Washington, D.C. partner Adam Kestenbaum, with associate Courtney Thomson.