December 5, 2023

Tullio Corradini

Trusted Legal Source

DLA Piper advises Lionheart III Corp on the first de-SPAC transaction with an Australian public company

DLA Piper advises Lionheart III Corp on the first de-SPAC transaction with an Australian public company

DLA Piper has advised Lionheart III Corp (Lionheart), a NASDAQ-mentioned specific function acquisition business (SPAC), on its US$360 million de-SPAC transaction with Australia-detailed model protection, provide chain integrity and blockchain technologies company Stability Matters Restricted (SMX) to choose SMX public on the NASDAQ Inventory Sector.

Lionheart is sponsored by an affiliate of Lionheart Capital, a Miami-primarily based diversified investment business centered on constructing shareholder value in significant-expansion companies.

SMX owns and commercializes technology to permanently “mark” objects (whether or not stable, liquid or fuel), allowing identification, circularity, evidence of authenticity, tracking provide chain movements and quality assurance, at this time working in the circular overall economy, together with the plastics, electronics, important metals and minerals, foodstuff and beverage and agriculture sectors.

Lionheart and SMX have entered into a small business combination settlement and a plan implementation deed which, topic to customary closing conditions, will result in SMX listing on the NASDAQ Stock Market by way of a freshly shaped Irish enterprise to be named “Security Matters Public Minimal Corporation.”

“We are grateful to the world-wide DLA Piper crew for their purpose in executing this transaction and are honored to welcome SMX to the Lionheart portfolio of numerous and thrilling business enterprise endeavors,” claimed Ophir Sternberg, CEO and Founder of Lionheart Funds.

The multi-jurisdictional and special nature of the transaction involved DLA Piper places of work and advisors across the US, Australia, Ireland and Israel, and is another illustration of the firm’s capacity in executing complicated sector-foremost global M&A and funds markets transactions, especially in the technologies sector.

“We are happy to assistance Lionheart provide an revolutionary transaction to its stockholders by leveraging the world assets of DLA Piper to deal with the many advanced cross-jurisdictional challenges lifted,” claimed Joshua Samek, co-chair of the firm’s Miami company follow, who led the US deal staff.

“This was a great option to act in the first de-SPAC transaction in Australia involving an ASX-detailed target,” explained Sydney-primarily based husband or wife David Ryan, who assisted direct the offer group in Australia.

In addition to Samek and Ryan, the DLA Piper crew was primarily supported in the US by lover Steven Pidgeon and associates Jeffrey Scharfstein and Gabriel de Corral in Australia by lover Elliott Cheung, distinctive counsel Roger Hawkins and solicitor Cassian Ho and in Eire by lawful director Steven Duggan and senior associate Michael Tansley. The transaction was also supported by a cross border tax workforce led in the US by partners Maruti R. Narayan and Drew Younger in Australia by spouse Eddie Ahn and senior associate Kenny Mui and in Ireland by partner Maura Dineen.

With a lot more than 1,000 corporate attorneys globally, DLA Piper will help shoppers execute sophisticated cross-border transactions seamlessly although supporting clientele across all levels of improvement. The company has been rated number a single in worldwide M&A volume for 11 consecutive yrs, in accordance to Mergermarket. The agency advises on all aspects of complex SPAC and other public M&A transactions, together with M&A, tax and securities. DLA Piper has suggested on more than 50 SPAC transactions, with an combination benefit of around US$100 billion, in the past three years.