SHUAA Capital’s $100 Million SPAC Listing

Walkers advised SHUAA Capital as Cayman Islands counsel alongside lead counsel Baker Botts.

SHUAA Capital, a leading UAE-based asset management and investment banking firm, announced the establishment and listing of its first Special Purpose Acquisition Company (SPAC) on the NASDAQ New York exchange. 

The SPAC raised US$100 million from investors and will now look to deploy those funds by identifying and merging with technology and/or tech-enabled financial services businesses based in the Middle East, North Africa, and Turkey (“MENAT”) region.

This is one of the first SPACs to be launched out of the MENAT region.

SHUAA Capital (DFM: SHUAA) is a leading asset management and investment banking platform. 

The Walkers team was led out of Dubai by Senior Associate Tom Hagger, with support from Partners Daniel Wood (Picture) and Tom Cochrane, and Associate Reghard Smith.

The Baker Botts team included: Haitham Hawashin (Partner, Dubai, Picture), Doug Getten (Partner, Houston), Travis Wofford (Partner, Houston), Jonathan Gordon (Partner, New York), Derek Jones (Partner, London); Parker Hinman (Associate, Houston), Henry Klimowicz (Associate, New York), Will Cozzens (Associate, Austin), Michael Donnellan (Associate, Houston), Michael Bresson (Partner, Houston); Derek Green (Partner, Houston) and Jared Meier (Senior Associate, Houston).

Involved fees earner: Michael Bresson – Baker Botts LLP; William Cozzens – Baker Botts LLP; Michael Donnellan – Baker Botts LLP; Doug Getten – Baker Botts LLP; Jonathan Gordon – Baker Botts LLP; Derek Green – Baker Botts LLP; Haitham Hawashin – Baker Botts LLP; Parker Hinman – Baker Botts LLP; Derek Jones – Baker Botts LLP; Henry Klimowicz – Baker Botts LLP; Jared Meier – Baker Botts LLP; Travis Wofford – Baker Botts LLP; Tom Cochrane – Walkers Global; Tom Hagger – Walkers Global; Reghard Smith – Walkers Global; Daniel Wood – Walkers Global;

Law Firms: Baker Botts LLP; Walkers Global;

Clients: SHUAA Capital;

Sonia Carcano

Author: Sonia Carcano