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Thursday, February 22, 2024

White & Case advises Hiro Metaverse I on IPO

White & Case LLP has advised Hiro Metaverse Acquisitions I S.A. (Hiro Metaverse), a special purpose acquisition company (SPAC) sponsored by Hiro Capital, on its £115 million initial public offering and admission to trading on the London Stock Exchange

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Luxembourg-based Hiro Metaverse will target a business combination with late-stage video games, connected wellness, and metaverse technology businesses with an enterprise valuation of more than £450 million, headquartered in the UK, Europe, or Israel.

The transaction adds to the portfolio that White & Case’s leading UK SPAC team is building and follows the recent advice to the sponsor on the IPO of Hambro Perks Acquisition Limited, the first London SPAC IPO since changes to the FCA rules in 2021.

White & Case is the top law firm for European-listed SPAC IPOs by deal count and value since the start of January 2021, according to data from Dealogic, advising on 16 SPAC IPOs listed on five European stock exchanges with an aggregate value of more than US$4 billion.

The White & Case team which advised on the transaction was co-led by partners Michael Immordino (London & Milan) and Íñigo Esteve (London) and included counsel Willem van de Wiele (Brussels) and associates Andrew Scott, Josh Hirschowitz, Greg Brown (all London) and Edouard de Walque (Brussels).

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