Artisan Acquisition Corp.’s $300 Million IPO

Paul Hastings LLP advised Credit Suisse Securities and UBS Securities as the joint book-running managers and Futu Securities International (Hong Kong) Limited as a lead manager on the deal.

Credit Suisse Securities and UBS Securities acted as the joint book-running managers and Futu Securities International (Hong Kong) Limited as a lead manager for the $300 million initial public offering by Artisan Acquisition Corp., a special purpose acquisition company backed by New World Development, a prominent Hong Kong-based conglomerate.

Artisan Acquisition Corp. priced its IPO of 30,000,000 units at $10.00 per unit. Each unit consists of one share of Class A common stock and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. The units were listed for trading on the Nasdaq Stock Market under the ticker symbol “ARTAU” on May 14, 2021.

Adrian Cheng, founder of Artisan LLC (sponsor of Artisan Acquisition) and brother Ben Cheng (CEO of Artisan Acquisition), are the third generation of the controlling family of New World Development, which has total assets over $80 billion. Along with the company’s independent directors and management team, they are expected to guide Artisan Acquisition Corp. in its efforts to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, focusing its search on global healthcare, technology and consumer companies.

The Paul Hastings team that advised Credit Suisse and UBS included partners Frank Lopez (Picture), Jonathan Ko, and Neil Torpey; of counsel Jacqueline May; and associates Will Peifer and Nicolette Ursini.

Involved fees earner: Jonathan Ko – Paul Hastings LLP; Frank Lopez – Paul Hastings LLP; Jacqueline May – Paul Hastings LLP; Will Peifer – Paul Hastings LLP; Neil Torpey – Paul Hastings LLP; Nicolette Ursini – Paul Hastings LLP;

Law Firms: Paul Hastings LLP;

Clients: Credit Suisse; Futu Securities International; UBS Securities LLC;

Author: Martina Bellini