DLA Piper advised the Special Committee of the Board of Directors of Bridgetown Holdings (NASDAQ: BTWN), a special purpose acquisition company formed as a collaboration between Pacific Century Group and Thiel Capital, on its business combination with MoneyHero Group.
The transaction values MoneyHero Group at a pre-money enterprise value of US$200 million, and the combined company will have a post-transaction enterprise value of approximately US$342 million (assuming no redemptions by Bridgetown’s public shareholders). Upon closing of the transaction, the combined company will be publicly traded on NASDAQ under the ticker symbols “MNY” and “MNYWW.”
The transaction, estimated to close in the third or fourth quarter of 2023, is subject to regulatory approval and other customary closing conditions.
DLA Piper has served as the legal adviser in multiple de-SPAC transactions globally. The multi-jurisdictional nature of this transaction demonstrates the strength of DLA Piper’s global network and cross-market capital markets capabilities.
“We are delighted to support the Special Committee of the Board of Bridgetown on this transaction, which enables the combined company to access the U.S. capital markets and unlock its potential,” said David Kuo, Lead Partner for the transaction at DLA Piper based in Singapore.
David was supported by Karen Lee (Associate, Singapore) alongside James Chang (Partner, Beijing), Alexander Zhou (Of Counsel, Hong Kong) and Stephanie Zhang (Consultant, Beijing).
