May 2023
Conyers has provided Cayman Islands legal advice to Inflection Point Acquisition Corp. II (“Inflection II”), a special purpose acquisition company, on its US$220 million base initial public offering (“IPO”) on the Nasdaq Global Market (“Nasdaq”).
Inflection II is a newly organized blank check company formed in the Cayman Islands which intends to pursue a business combination with a North American or European business in disruptive growth sectors, which complements the expertise of its management team.
The IPO is comprised of an offering of 22,000,000 units at a price of $10.00 per unit, together with an additional 3,300,000 units to cover over-allotments. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant exercisable to purchase one Class A ordinary share at a price of $11.50 per share. The units are listed on Nasdaq and began trading under the ticker symbol “IPXXU” on May 25, 2023. After the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols “IPXX” and “IPXXW,” respectively.
Partners Alex Davies and Matthew Stocker, Counsel Matthew Harkness and Paralegal Richard Schneider of Conyers’ Cayman office advised on the Cayman Islands legal and regulatory aspects of the IPO working alongside White & Case LLP as lead legal advisor to Inflection II.