Multi-Jurisdictional Maples Team Advise on Catcha Investment Corp's de-SPAC Transaction

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Maples and Calder, the Maples Group's law firm, is pleased to have advised Catcha Investment Corp ("Catcha"), a publicly traded Cayman Islands special purpose acquisition company, on its business combination with Crown LNG Holdings AS, a company incorporated in Jersey, resulting in Crown LNG Holdings Limited ("Crown") becoming a US publicly listed company listed on NASDAQ.  The transaction, which completed in July 2024, valued the combined entity at a pro forma implied enterprise value of approximately US$685 million.

Crown is a leading provider of offshore LNG liquefaction and regasification infrastructure for harsh weather locations. 

Catcha is sponsored by Catcha Group, one of the earliest and most established new economy-focused investment groups in Southeast Asia and Australia.

A multi-jurisdictional team of lawyers based in the firm's Hong Kong and Jersey offices acted as Cayman Islands and Jersey counsel to Catcha. The firm's Hong Kong team was led by Partner and head of the Corporate practice in Asia, Matt Roberts and the team in Jersey was led by Corporate Partner, David Allen and assisted by Corporate Of Counsel, Amy Black.  

Commenting on the transaction, Matt said: "It was a pleasure for both the Maples Group's Asia and Jersey teams to assist our client, Catcha, with the successful completion of its business combination with Crown. Our Asia and Jersey teams provided seamless, time zone sensitive support to ensure that our client successfully closed this milestone de-SPAC business combination.  It is also exciting to see this deal enjoying market support since the debut of Crown's listing on NASDAQ, amongst challenging market conditions."

Notably, the firm's market-leading Corporate practice advised on the inaugural de-SPAC transaction in Singapore last year and continues to be selected as offshore counsel for SPAC and de-SPAC transactions.

Goodwin Procter acted as US legal advisor to Catcha. Nelson Mullins Riley & Scarborough acted as US legal advisor to Crown.