Netfin’s $956 Million Combination with Triterras Fintech

White & Case LLP and Winston & Strawn advised Netfin Acquisition Corp. on the deal.

Netfin Acquisition Corp., a Nasdaq-listed special purpose acquisition company (SPAC), executed its cross-border business combination transaction with Triterras Fintech Pte Ltd, a leading fintech company focused on trade and trade finance. The combined company, named Triterras, Inc., commenced trading on the Nasdaq Global Market on Wednesday November 11, 2020 under the symbol TRIT. Based on the closing price of its shares on Nasdaq on November 10, the combined company has an initial equity value of approximately US$956 million. $585 million consideration was paid to Triterras stockholders, consisting of $60 million in cash and $525 million in shares of the publicly listed company.

The White & Case team advising Netfin was led by Elliott Smith, and also included partners Joel Rubinstein (Picture), Jonathan Rochwarger, Sang Ji and Victoria Rosamond, and associates Adam Berkaw, Audrey Bae and Mitchell Li (all in New York).

Winston & Strawn represented Netfin with partners Neely B. Agin, Robert B. Heller, Simon Luk, Jared S. Manes, Christopher B. Monahan, Nyron J. Persaud, Becky L. Troutman, Nicholas Usher, associates Caroline E. Barry, Caitlin Chan, Jenny Hu, Roman Z. Ibragimov, Dainia J. Jabaji, of counsel Jason A. Lewis, associates Lucas W. McFarland, Allison N. Skopec, Alexandra M. Solórzano, James Tannock, and Qiaosong Wu.

Involved fees earner: Audrey Bae – White & Case; Adam Berkaw – White & Case; Sang Ji – White & Case; Mitchell Li – White & Case; Jonathan Rochwarger – White & Case; Victoria Rosamond – White & Case; Joel Rubinstein – White & Case; Elliott Smith – White & Case; Neely Beth Agin – Winston & Strawn; Caroline Barry – Winston & Strawn; Caitlin Chan – Winston & Strawn; Robert Heller – Winston & Strawn; Jenny Hu – Winston & Strawn; Roman Ibragimov – Winston & Strawn; Dainia Jabaji – Winston & Strawn; Jason Lewis – Winston & Strawn; Simon Luk – Winston & Strawn; Jared Manes – Winston & Strawn; Lucas McFarland – Winston & Strawn; Christopher Monahan – Winston & Strawn; Nyron Persaud – Winston & Strawn; Allison Skopec – Winston & Strawn; Alexandra Solorzano – Winston & Strawn; James Tannock – Winston & Strawn; Becky Troutman – Winston & Strawn; Nicholas Usher – Winston & Strawn; Qiaosong Wu – Winston & Strawn;

Law Firms: White & Case; Winston & Strawn;

Clients: Netfin Acquisition Corp.;

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Author: Ambrogio Visconti