Appleby is pleased to announce that it acted as Cayman Islands legal counsel to West Enclave Merger Corp. in connection to its initial public offering of 10,000,000 units. The offering was priced at $10.00 per unit, generating total gross proceeds of $100,000,000. Of the proceeds received from the initial public offering and a simultaneous private placement of units, $101,000,000 was placed in trust.
The units are listed and trading on The New York Stock Exchange (NYSE) under the symbol “WENC U”. Each unit consists of one ordinary share and one right entitling the holder thereof to receive one-tenth of one ordinary share upon the completion of an initial business combination. Once the securities comprising the units begin separate trading, the ordinary shares and rights are expected to be listed on NYSE under the symbols “WENC” and “WENC RT”, respectively.
The Appleby Capital Markets team was led by Partner Alexandra Low, and Paralegal Sophia Cunningham and other members of the corporate team.
Appleby continues to play a key role in major IPO and public-market matters worldwide.