Linklaters advises NWTN on its de-SPAC listing on NASDAQ through a business combination with East Stone Acquisition Corporation

Linklaters advised NWTN Inc. (NWTN), a global mobility technology company headquartered in Dubai, on its de-SPAC listing on NASDAQ through a business combination with East Stone Acquisition Corporation (East Stone, NASDAQ: ESSC), a publicly traded special purpose acquisition company (SPAC).

NWTN’s Class B ordinary shares and warrants began trading on the NASDAQ under the symbols “NWTN” and “NWTNW” on 14 November 2022. In connection with the business combination, NWTN has received gross proceeds of US$400m in PIPE investment (private investment in public equity) from institutional investors and strategic partners.

The Linklaters team was led by corporate partner Xiaoxi Lin, who specialises in private equity investments and listed company M&A (including privatisation and SPAC transactions), and capital markets partner Jeffrey Cohen.

Linklaters’ corporate partner Xiaoxi Lin, commented:

“We are honoured to have had the opportunity to support NWTN in this major milestone in their development, building on our deep expertise in US public transactions, including some of the most complex de-SPAC transactions from Asia. Our team looks forward to continuing to support NWTN on other opportunities in future.”