Baker Botts advises SHUAA Partners acquisition in its IPO
March 1, 2022, SHUAA Partners Acquisition Corp I (“The Company”) priced its initial public offering of 10,000,000 units, at a price of USD 10.00 per unit, with each unit consisting of one Class A ordinary share and one-half of one redeemable warrant.
The units were listed for trading on the Nasdaq Global Market, or Nasdaq, under the symbol “SHUAU” beginning on March 2, 2022. Once the securities comprising the units began separate trading, the Class A ordinary shares and warrants were traded on Nasdaq under the symbols “SHUA” and “SHUAW,” respectively.
SHUAA is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.
The Company intends to search for a target within the technology or tech-enabled fintech sectors, across the high growth markets of the MENAT region. The search for a target will be tech-focused and sector-agnostic, allowing the Company to fundamentally leverage new and growing trends within the tech sector and access potential targets that are targeting key areas for change within traditional business sectors in the MENAT region.
Baker Botts acted as legal counsel to the SHUAA in this transaction. The corporate team included Haitham Hawashin (partner, Dubai, pictured); Doug Getten (partner, Houston); Travis Wofford (partner, Houston); Jonathan Gordon (partner, New York); Derek Jones (partner, London); Parker Hinman (associate, Houston); Henry Klimowicz (associate, New York); Will Cozzens (associate, Austin); and Michael Donnellan (associate, Houston). Tax counsels included Michael Bresson (partner, Houston); Derek Green (partner, Houston); and Jared Meier (senior associate, Houston)
Kirkland & Ellis acted as underwriters’ counsel and BTIG as sole bookrunning manager.