Appleby Advises Activate Energy Acquisition Corp. in Its USD230M Initial Public Offering
Appleby is pleased to announce that it acted as Cayman Islands legal counsel to Activate Energy Acquisition Corp. (Activate Energy) in connection with the closing of its initial public offering of 23,000,000 units at $10.00 per unit, including the issuance of 3,000,000 units as result of the underwriters’ exercise of its over-allotment option in full. The gross proceeds from the offering were $230 million before deducting underwriting discounts and estimated offering expenses. The units began trading on the Global Market tier of The Nasdaq Stock Market LLC (Nasdaq) under the ticker symbol “AEAQU” on December 4, 2025.
Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder to purchase one Class A ordinary share of Activate Energy at a price of $11.50 per share. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols “AEAQ” and “AEAQW”, respectively.
Appleby advised on all Cayman Islands legal aspects of the transaction, further strengthening its proven track record and consistently demonstrating deep expertise in SPAC IPOs and capital markets regulation.
The team was led by Counsel Alexandra Low, with Partner Simon Raftopoulos, Paralegal Sophia Cunningham and other members of the corporate team.
Appleby continues to play a key role in major SPAC and public-market matters worldwide.
