Walkers, the international legal and professional services firm, advised on two Nasdaq listings recently.
Walkers advises Praetorian Acquisition Corp. on US$220m Nasdaq IPO
Walkers acted for Praetorian Acquisition Corp., a special purpose acquisition company (SPAC), on its US$220m initial public offering on Nasdaq under the ticker PTORU. The offering consisted of 22,000,000 units priced at US$10 per unit. The company has also granted underwriters a 45-day option to purchase up to 3,300,000 units, less underwriting discounts and commissions, to cover over-allotments.
The company was formed and is being led by Justin Di Rezze as its chief executive officer and Peter Ondishin as its chief financial officer. It may pursue an acquisition opportunity in any business or industry, or at any stage of its corporate evolution with a focus on target businesses that are in a traditional sector that can be transformed through the application of automation and artificial intelligence.
Reed Smith LLP acted as U.S. counsel, with Clear Street LLC as sole book-running manager.
The Walkers team was led by Cayman Islands corporate partner Andrew Barker and associate Samantha Currie.
Walkers supports Archimedes Tech SPAC Partners III Co. on successful US$276m IPO
Walkers also has acted for Archimedes Tech SPAC Partners III Co. (“Arch III”), a special purpose acquisition company (SPAC), on its upsized initial public offering of $276m. The offering consisted of 27,600,0000 units at US$10 per unit and listed on the Nasdaq under the ticker symbol ARCIU, which includes 3,600,000 units exercised by the underwriter to cover over-allotments.
Arch III’s management team is led by Long Long, CEO and director, Ming (K.M.) Chan, chief financial officer and Ben Landen, chief technology officer. Arch III intends to focus its search on a target business in the technology industry, with a focus on artificial intelligence, cloud services and automotive technology sectors.
The Walkers team was led by partners Andrew Barker and Michael Beck together with associate Samantha Currie.
Loeb & Loeb LLP acted as U.S. counsel to Arch III and BTIG, LLC acted as sole book running manager.
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