Cleary Gottlieb represented TLGY Acquisition Corporation (TLGY) in its $230 million initial public offering on the Nasdaq Global Market.
On December 8, 2021, TLGY closed its IPO of 23 million units (including the exercise of the underwriters’ overallotment option in full). Each unit consists of one Class A ordinary share, par value $0.0001 per share; one-half of one detachable redeemable warrant; and a contingent right to receive at least one-fourth of one redeemable warrant following the initial business combination redemption time. Each whole warrant is exercisable for one Class A ordinary share at an exercise price of $11.50 per share.
Mizuho Securities USA LLC acted as sole bookrunner and Robert W. Baird & Co. Incorporated acted as lead manager for the offering.
TLGY is a blank check company sponsored by TLGY Sponsors LLC, whose business purpose is to effect a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company intends to focus its search for an initial business combination on a promising global company—or a company with Asia linkages with the potential to become a global company—with a focus on biopharma or consumer businesses driven by enabling technology.