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Clifford Chance advises on Australia’s first SPAC merger deal
DCRN has been advised on its merger with Tritium Holdings, becoming the first Australian company to reach a deal with a SPAC.
Jerome Doraisamy
Firm: Clifford Chance (Decarbonisation Plus Acquisition Corporation II (DCRN)).
The combined company will be listed on NASDAQ and the transaction will provide gross proceeds of up to approximately US$403 million, the firm said in a statement.
Value: US$1.2 billion.
Area: Capital markets.
Key players: The Clifford Chance team was led by corporate partner Andrew Crook and counsel Tennie Tam, who were assisted by associates Isabelle Cameron, Christine Wang, Anne-Marie Jones and Melanie Ray.
Deal significance: Speaking about the listing, Mr Crook said: “We are very happy to be involved in this landmark SPAC project in Australia, which represents a pathway that is increasingly sought after by investors and companies to access the global public markets.”
Ms Tam added: “We expect this will lead to more of such transactions in Australia with exciting clients in varied sectors and we look forward to welcoming such opportunities.”
Jerome Doraisamy
Jerome Doraisamy is the managing editor of Lawyers Weekly and HR Leader. He is also the author of The Wellness Doctrines book series, an admitted solicitor in New South Wales, and a board director of the Minds Count Foundation.
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