Jan 2022
Conyers provided Cayman legal advice to Pegasus Asia, a special purpose acquisition company incorporated in the Cayman Islands (“SPAC”), in connection with its initial public offering in Singapore of 25,600,000 units, each unit consisting of one ordinary share and one-half of a warrant of Pegasus Asia on the Singapore Exchange Securities Trading Limited (“SGX-ST”). It is the first SPAC listed on the SGX-ST to be backed by international sponsors.
The offering included the exercise in full of the underwriters’ over-allotment option to purchase an additional 4,000,000 units, raising approximately S$170 million for Pegasus Asia in total.
Director Preetha Pillai and Counsel Stacie Seetho of Conyers’ Singapore office and Legal Manager Rita Leung of Conyers’ Hong Kong office advised Pegasus Asia on the matter working alongside Allen & Overy LLP.