Carey Olsen advises Nvni Group Limited on $235 million business combination and subsequent Nasdaq listing
October, 2023 - Bermuda, Bermuda
Mercato retired its listing on Nasdaq as of market close on 29 September 23, and Nuvini commenced trading on Nasdaq as of market open on 2 October 2023.
The merger follows Nuvini's drive for expansion, with the newly combined company holding an enterprise value of $235 million. Under the agreement, Nuvini is set to receive around $60 million in funding for the purpose of acquiring additional start-up companies, supplementing its existing portfolio of seven start-ups.
The Carey Olsen team advising on the Cayman Islands aspects of the transaction was led by partner Alistair Russell with assistance from Trevor McCabe and Nessa Flynn, working alongside onshore counsel Mayer Brown LLP.
Alistair Russell commented: "We are delighted to have been able to work with Nuvini on this transaction and to see, after months of hard work from their team and advisors, the combination and listing occur so successfully. We are all excited to see what the future holds for Nuvini and their continued growth strategy in the market."
Carey Olsen will provide ongoing advice to Nuvini.
