Appleby is pleased to be acting as Cayman Islands legal counsel to Meshflow Acquisition Corp., a Nasdaq-listed special purpose acquisition company (Meshflow), on its entry into a definitive business combination agreement with HGP Intelligent Energy, LLC (HGP), a developer of load-following technology for nuclear power plants.
Under the terms of the business combination agreement, HGP and Meshflow will combine under a newly formed Delaware holding company which, upon completion of the transaction, will become the publicly traded parent company of the combined business. The transaction implies a pro forma equity value of approximately $1.2 billion.
Proceeds are expected to support qualification and manufacturing of HGP’s variable-speed reactor coolant pump, continued development and validation of its digital twin technology, and site development and licensing work for its Integrated Naval Nuclear Energy Campus, among other uses.
The Appleby Mergers and Acquisitions team is led by Cayman Partner Alexandra Low, BVI Partner James Kitching, Hong Kong Senior Associate Alejandra Gonzalez Saucedo and Cayman Articled Clerk Emily McIntyre alongside other members of the corporate team.
Appleby continues to play a leading role in cross-border M&A and public market transactions worldwide.