Simpson Thacher advised Generation Asia I Acquisition Limited (the “Company”) (NYSE: GAQ.U) on its $219.3 million initial public offering of 21,930,000 units, including the exercise in part of the underwriter’s overallotment option, at a public offering price of $10 per unit.
Each unit consists of one of the Company’s Class A ordinary shares and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one of the Company’s Class A ordinary shares at a price of $11.50 per share. The units have begun trading on NYSE and, once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are also expected to be listed on NYSE under the symbols “GAQ” and “GAQWS,” respectively.
The Company is a newly organized blank-check company formed by Generation Asia LLC, an affiliate of Generation Management Limited, for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or assets. Generation Management Limited is a private investment office focusing on growth stage equity investments that is led by Roy Kuan, previously a Managing Partner at CVC Capital Partners.
The Simpson Thacher team included Jin Hyuk Park, Joongwon Park, Chanik Park and William Son (Corporate – Hong Kong); Mark Brod (Capital Markets); Benjamin Rippeon, Eli Shalam and Preston Irace (Tax); Jennifer Nadborny and Arielle Katzman (Public Company Advisory Practice); and Jennie Getsin (FINRA).