BCLP advises Gesher I Acquisition Corp in SPAC acquisition of Freightos
International law firm Bryan Cave Leighton Paisner LLP (BCLP) is advising Gesher I Acquisition Corp, a Cayman Islands SPAC registered on the Nasdaq stock exchange (Nasdaq: GIAC), in its acquisition of Freightos Limited, a leading global freight booking and payment platform. The combined entity will be known as Freightos and publicly listed on the Nasdaq exchange under the ticker symbol “FROS.”
Freightos connects participants across the international freight ecosystem, including hundreds of airlines, ocean liners and trucking companies, as well as thousands of freight forwarders and over 10,000 importers and exporters, through a transparent digital platform that allows real-time global freight rate comparison, booking and shipment management. The capital raised from the transaction will be invested to further scale the business, driving transaction value and improving margins.
The transaction is expected to close in the second half of 2022, subject to customary closing conditions, including the approval of Gesher and Freightos shareholders and regulatory review.
In addition to the proposed merger of Gesher and Freightos Limited, the combined entity obtained $70 million in capital commitments in the form of a forward purchase agreement, a backstop agreement and a PIPE agreement, in addition to a $10 million non-redemption commitment. BCLP also advised Gesher in connection with the capital commitments.
This transaction further serves to build out BCLP’s cross-border SPAC experience. A press release on the deal can be found here.
The client relationship is led by BCLP Partner Jonathan Nesher and the deal team is led by Amy Wilson, Jonathan Pruitt, Olivia Hunter, Griffin Davis and Andréa Legette-Toovey (Corporate Transactions), with significant support from Eliot Robinson, Tyler Mark, Andrew Rodman, Maureen Chu and Erica Augustine (Securities and Corporate Governance); Frank Crisafi, Jessica Edwards and Chris Girouard (Tax); Adam Braun and Meredith Silliman (Employee Benefits); Anthony George and Sara O’Keefe (Labor & Employment); Jason Haislmaier, Lucinda Althauser and Thomas Soave (Intellectual Property); Becky Nelson, Paul Barrs and Emilee Hargis (Antitrust); Wayne Ma, Tiffany Tam, Koe Cheng and Yorkie Fong (Hong Kong Matters); Susan Kovarovics and Jennifer Kies Mammen (Trade Matters); Ken Achenbach and Aaron Lapniewski (Insurance); Gretchen von Dwingelo (Finance); and Angela Hsu (Real Estate), among others.
This document provides a general summary and is for information/educational purposes only. It is not intended to be comprehensive, nor does it constitute legal advice. Specific legal advice should always be sought before taking or refraining from taking any action.