Member Article

Carey Olsen advises Pomvom on Business Combination Agreement

The proposed transaction would give Pomvom a total equity value of US$125 million and is anticipated to close in Q3 2024. At closing, Pomvom will be listed on the Nasdaq in the United States. 

Carey Olsen counsel Dylan Wiltermuth and associate Tyler Hawley from the Cayman Islands office advised Pomvom, alongside US counsel Greenberg Traurig LLP and Israeli law firms Goldfarb Gross Seligman & Co. and Barnea Jaffa Lande. Reed Smith LLP, Israeli law firm Naschitz Brandes Amir and a local Cayman Islands law firm are representing Israel Acquisitions Corp. in the transaction.

Dylan Wiltermuth comments: "We are pleased to have advised Pomvom on its entry into a definitive business combination agreement with Israel Acquisitions Corp. This transaction highlights the strength of our bench and expertise in the technology and public companies' sectors."

Pomvom is a technology company, which develops and provides experiential documentation solutions to the global amusement parks and attractions market, which replace the existing operative photographic solutions. Pomvom serves many of the largest theme park and attraction operators globally, including, parent companies Six Flags, Warner Bros., and Merlin Entertainment. Strategic long-term agreements signed in 2023 with Warner Bros. and Six Flags are expected to increase the number of partner sites for Pomvom to 47 sites by the end of 2024 — an impressive 23% increase from its current 38 sites. Pomvom's launch of digital content across its partner sites is expected to leverage its new online platform and accelerate long-term growth.

 

Link to article