Ogier acted as BVI legal advisor to the special purpose acquisition company (SPAC) Nova Vision Acquisition Corp on its initial public offering (IPO) of 5,750,000 units.
The Asia-based company raised US$57.5 million after the units were listed on NASDAQ Capital Market on 6 August, trading under the ticker symbol NOVVU. The offering closed on 10 August 2021.
Nova Vision Acquisition Corp intends to combine with a data-driven business in proptech, fintech, consumertech, or supply chain management industries that has business operations in Asia.
The Ogier team in Hong Kong was led by managing associate Florence Chan with support from the firm’s global head of Corporate, Nathan Powell, and paralegal Jenson Ng.
"The Ogier Corporate team has significant experience on the formation and listing of SPACs and alternative IPO techniques. It's been an extremely busy year for Cayman and BVI SPACs we are delighted to have been able demonstrate our expertise on this exciting transaction for Nova Vision Acquisition Corp."