Press Release from Carey Olsen, Friday 4 July, 2025.
Carey Olsen’s corporate team in the Cayman Islands has advised FIGX Capital Acquisition Corp., a special purpose acquisition company (“SPAC”), on its initial public offering (“IPO”) on the Nasdaq Global Market (“Nasdaq”).
The SPAC intends to concentrate its efforts in identifying businesses in the financial industry group, with a focus on differentiated private wealth and asset managers positioned to become multi-asset fund managers with diversified distribution channels and global market presence. The Company’s units began trading on 27 June 2025 on the Nasdaq under the ticker symbol “FIGXU”.
On 30 June 2025, FIGX Capital Acquisition Corp. announced the closing of its IPO of 13,100,000 units, with an additional 1,965,000 units issued pursuant to the exercise by the underwriters of their over-allotment option in full. The offering was priced at US$10.00 per unit, resulting in gross proceeds of US$150,650,000.
The Company’s management team is led by Lou Gerken, chief executive officer and chairman, and Jide James Zeitlin, vice chairman of the board of directors, and Mike Rollins, its chief financial officer.
Working alongside lead counsel Ellenoff Grossman & Schole LLP, the Carey Olsen team advising the SPAC on the Cayman legal and regulatory aspects of the IPO comprised partner Dylan Wiltermuth and associate Nich Vasic. Cantor Fitzgerald & Co. acted as sole book-running manager for the offering.
Dylan Wiltermuth said: “It was a pleasure to bring together our extensive capital markets capabilities and experience advising on SPAC listings to assist Global Technology Acquisition Corp. I on this IPO. The deal is also the latest example of the Cayman Islands’ continuing appeal as a leading jurisdiction for offshore listings work in New York and elsewhere.”
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