Ogier advises TenX Keane Acquisition on US$66 million SPAC IPO

Ogier acted as Cayman Islands legal advisor to the special purpose acquisition company (SPAC) TenX Keane Acquisition on its initial public offering (IPO) of 6,600,000 units at an offering price of US$10 per unit, which includes 600,000 units issued pursuant to the partial exercise of the underwriter’s over-allotment option.

TenX Keane Acquisition raised US$66 million after the units were listed on NASDAQ Global Market on 14 October, trading under the ticker symbol TENKU. The offering closed on 18 October 2022.

The Company intends to combine with businesses operating in Asia, excluding companies located or operating in mainland China, Hong Kong or Macau.

The Ogier team in Hong Kong was led by corporate partner Florence Chan with support from the firm’s global head of Corporate, Nathan Powell, and paralegal Jenson Ng.