Conyers has provided Cayman Islands legal advice to Financial Acquisitions Corp. (FAC), a special purpose acquisition company (SPAC), on its £150 million initial public offering. FAC was admitted to trading on the Main Market of the London Stock Exchange on 13 April 2022 under the ticker FINS.

FAC is a Cayman Islands incorporated SPAC focused on insurance technology. It will target a business combination with tech-enabled insurers that are approaching “sufficient scale and maturity” to debut on public markets. FAC is headed up by former Munich Re AG executive Andrew Rear as executive chair, and William Allen, a former managing director at investment banking firm Keefe, Bruyette & Woods Inc., as chief executive officer.

The IPO comprised an offering of 15,000,000 Class A ordinary shares with matching warrants which were issued concurrently with the delivery of the ordinary shares to subscribers of ordinary shares on the basis of one-half of one warrant per ordinary share issued, at a placing price of £10.00 per ordinary share.

Partner Matthew Stocker, Counsel Alex Davies and Associate Matthew Harkness of Conyers’ Cayman office advised FAC on the Cayman Islands legal and regulatory aspects of the IPO working alongside Winston & Strawn LLP in London as lead legal advisor.


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