Ogier advises NewHold Investment Corp III and newcleo plc on US$247 million business combination

Ogier's Corporate team in the Cayman Islands has advised NewHold Investment Corp III (NewHold), a Nasdaq-listed special purpose acquisition company (SPAC), and newcleo plc (newcleo) on their de-SPAC business combination.

The business combination has resulted in newcleo, a pioneer in advanced modular reactor technology and nuclear fuel manufacturing, becoming a publicly traded company. 

Following approval of the transaction by NewHold's shareholders on 17 September 2026, newcleo's ordinary shares and warrants commenced trading on the Nasdaq Global Select Market under the ticker symbols NWCL and NWCLW on 22 September 2026. 

The transaction provided newcleo with a pre-money equity value of approximately US$2.4 billion and generated approximately US$247 million in gross proceeds, including a US$216 million PIPE financing. The proceeds will support newcleo's continued growth and the advancement of its nuclear technology and fuel manufacturing programmes across the US and Europe. 

The Ogier team was led by partner Bradley Kruger, with support from managing associate Laura O'Byrne and associate Scott Parmenter. The team acted as Cayman Islands counsel to both NewHold and newcleo.  

Ogier is one of the leading Cayman Islands advisers in the SPAC market and regularly supports clients across the full SPAC lifecycle, from IPO through to de-SPAC. Contact our specialists to find out more.