Walkers' Jersey team has advised digital-first care company Babylon Holdings on its definitive merger agreement with Alkuri Global Acquisition Corp, a special-purpose acquisition company.
The transaction was approved on 20 October by Alkuri's shareholders. Babylon's Class A ordinary shares and its warrants began trading on the New York Stock Exchange on 22 October under the ticker symbols BBLN and BBLN.W, respectively.
The company – which will continue to operate as Babylon – was founded in the UK in 2013 and is contracted to serve more than 24 million people in 16 countries.
Walkers advised on the Jersey corporate and regulatory aspects of the business combination and listing as well as on the corporate governance, incentive schemes and operational requirements around becoming a listed public company.
Partner Jonathan Heaney and Group Partner Dilmun Leach led the Walkers team on the deal, working with Allen & Overy (London) and Wilson Sonsini Goodrich & Rosati (New York).
The team also included Senior Associates Ruth Donnellan and Tom Fothergill and Associate Luke Steele.