Dechert LLP announced today that it has advised Universal Business Payment Solutions Acquisition Corporation (NASDAQ: UBPSU) in its $72 million initial public offering. The IPO was for an aggregate of 12,000,000 units at an offering price of $6.00 per unit. Each unit consists of one share of the Company’s common stock, $0.001 par value per share (the “Common Stock”), and one warrant to purchase one share of Common Stock.

Universal Business Payment Solutions Acquisition Corporation is a Radnor, PA-based blank check company recently incorporated for the purpose of acquiring, through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, exchangeable share transaction or other similar business transaction, one or more operating business that it has not yet identified that will serve as its core platform from which to offer small businesses consolidated payments services.

Dechert partners James A. Lebovitz and Thomas J. Friedmann and associates William J. Tuttle, Rachel Bee and Joshua D. Schmidt advised on the IPO.