Ogier has acted as Cayman Islands counsel on the Nasdaq initial public offering (IPO) of special purpose acquisition company (SPAC) Coliseum Acquisition Corp.
The consumer-focused company raised US$150 million in its IPO and began trading on the Nasdaq Capital Market under the ticker symbol “MITAU” on 23 June 2021.
Each unit issued in the offering consists of one Class A ordinary share and one-third of one redeemable warrant. Each whole warrant entitles the holder to purchase one Class A ordinary share at a price of US$11.50 per share.
While the SPAC may pursue an acquisition opportunity in any industry or geographic region, it intends to focus on consumer product, service and media companies at the intersection of sports, entertainment, digital media and/or technology.
The Ogier team was led by Bradley Kruger with senior associate Tommy Tuohy and associate Caroline Dekker, who worked alongside US counsel DLA Piper, New York. Stifel, Nicolaus & Company Incorporated acted as the underwriter, advised by Winston & Strawn LLP, New York.
Bradley commented, "Ogier's equity capital markets team has significant expertise on the formation and listing of SPACs and alternative IPO techniques, and we're delighted to demonstrate this once again by working with Coliseum's sponsor and its experienced team of advisers on their successful IPO. "