BCLP advises Gesher I Acquisition Corp in de-SPAC business combination with Freightos

International law firm BCLP advised Gesher I Acquisition Corp, a Cayman Islands SPAC registered on the Nasdaq stock exchange (Nasdaq: GIAC), in its business combination with Freightos Limited, a leading global freight booking and payment platform. The business combination closed on Jan. 25. The combined entity will be known as “Freightos” and its ordinary shares and warrants of Freightos will trade on the Nasdaq under the ticker symbols “CRGO” and “CRGOW,” respectively.

Freightos connects participants across the international freight ecosystem, including hundreds of airlines, ocean liners and trucking companies, as well as thousands of freight forwarders, importers and exporters, through a transparent digital platform that allows real-time global freight rate comparison, booking and shipment management. In the transaction, the combined entity raised $80 million in capital in the form of a forward purchase investment, a PIPE investment, a redemption backstop commitment and a non-redemption commitment. The capital raised from the transaction will be invested to further scale the business, drive transaction value and improve margins.

This transaction further serves to build out BCLP’s cross-border SPAC experience. More information on this deal can be found on Freightos’ press release.

The transaction was led by Partners Amy Wilson, Tyler Mark and Eliot Robinson, with significant support from Jonathan Pruitt, Olivia Hunter, Griffin Davis and Lauren Beeman (Corporate Transactions); Ofir Klein, Andrew Rodman and Lindsay Cross (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 SAR Matters); Jeffrey Russell (litigation Matters); Jennifer Kies Mammen (Trade Matters); Ken Achenbach and Aaron Lapniewski (Insurance); Gretchen von Dwingelo (Finance); Angela Hsu (Real Estate); and Andréa Legette-Toovey, Anne Giacomini and Holly Berger (Corporate Transactions), among others.

The client relationship is led by Partner Jonathan Nesher.