SAN FRANCISCO–(BUSINESS WIRE)–Doma Holdings, a leading force for disruptive change in the real estate industry, and Capitol Investment, a publicly traded special purpose acquisition company, today completed their previously announced business combination. Doma is using machine intelligence and its proprietary technology solutions to create a more simple, efficient, and affordable real estate closing experience for current and prospective homeowners, lenders, title agents, and real estate professionals. The shares of common stock and warrants of the combined company are expected to begin trading on the New York Stock Exchange on July 29, 2021 under the symbols DOMA and DOMA.WS, respectively.
Proceeds from the transaction will be used by Doma to fuel growth, both through market expansion and the development of new products aimed to extend the strategic advantage customers get from Doma’s machine intelligence platform. Capitol shareholders approved the transaction at a special meeting in lieu of its 2021 annual meeting of stockholders on July 27, 2021. CEO Max Simkoff and the rest of the Doma management team will continue to lead the combined company.
“For us, this transaction is about accelerating our ability to penetrate and revolutionize first the antiquated $23 billion title, escrow and closing market, and eventually the broader $318 billion home ownership services market,” said Simkoff. “Our vision is to ultimately make many of the most important home buying experiences instant and digital. Today’s milestone is a testament to Doma’s impressive growth to date and the strength of our business. We look forward to this next phase as a public company.”
Citigroup Global Markets Inc. acted as financial advisor and Davis Polk & Wardwell LLP acted as legal advisor to Doma. J.P. Morgan Securities LLC acted as financial advisor and Latham & Watkins LLP acted as legal advisor to Capitol. Deutsche Bank Securities Inc. also acted as capital markets advisor to Capitol. Citigroup Global Markets Inc. and J.P. Morgan Securities LLC acted as PIPE placement agents with JMP Securities LLC, Oppenheimer & Co. Inc. and D.A. Davidson & Co. as co-placement agents.
About Doma
Doma (formerly States Title Holding, Inc.) is architecting the future of real estate transactions. The company uses machine intelligence and its patented technology solutions to transform residential real estate, making closings instant and affordable. Doma and its family of brands – States Title, North American Title Company (NATC) and North American Title Insurance Company (NATIC) – offer solutions for current and prospective homeowners, lenders, title agents, and real estate professionals that make closings vastly more simple and efficient, reducing cost and increasing customer satisfaction. Doma’s clients include some of the largest bank and non-bank lenders in the United States. To learn more visit doma.com.