Jun 2022
Conyers has recently assisted Freightos Limited with their migration and re-domiciliation from Hong Kong to the Cayman Islands in preparation for the company being taken public through a proposed combination with Gesher I Acquisition Corp., a special purpose acquisition company.
Freightos Limited operates a digital marketplace for the international freight industry, offering a digital platform which allows for real-time global rate comparisons and booking and shipping management services. Freightos is already backed by a number of significant investors in the logistics space, including FedEx Corp., SGX Group, Aleph, MoreVC and airlines including Qatar Airways, and it has received over US$80 million in capital commitments from both existing shareholders and new investors to the new business, who have signed two year lock-up agreements in connection with the proposed business combination transaction.
When the business combination closes, which is expected to take place later this year, shares in the combined company are expected to trade on the NASDAQ under the symbol FROS.
A cross-jurisdictional Conyers team advised Freightos in connection with the Cayman Islands law aspects of their migration and re-domiciliation, led by Partner Nicholas Pattman and Counsel Barnabas Finnigan in Conyers’ London office and supported by Counsel Alex Davies and Associate Matthew Harkness in Conyers’ Cayman Islands office. Oppenheimer & Co. served as financial adviser to Freightos, while DLA Piper LLP acted as legal counsel. Gesher was advised by Bryan Cave Leighton Paisner LLP.