Appleby Advises Art Technology Acquisition Corp. in Its USD 220M Initial Public Offering
Appleby is pleased to announce that it acted as Cayman Islands legal counsel to Art Technology Acquisition Corp. (Art Technology Acquisition) in connection with the closing of its initial public offering of 22,000,000 units. The offering was priced at $10.00 per unit, resulting in gross proceeds to Art Technology Acquisition of $220,000,000. The company has granted the underwriter a 45-day option to purchase up to an additional 3,300,000 units at the initial public offering price to cover over-allotments.
The units began trading on the Nasdaq Global Market (Nasdaq) on January 6, 2026, under the ticker symbol “ARTCU.” Each unit issued in the offering consists of one Class A ordinary share of Art Technology Acquisition and one-fourth of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share of Art Technology Acquisition at an exercise price of $11.50 per share. Once the securities constituting the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols “ARTC” and “ARTCW,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.
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 Appleby Capital Markets team was led by Counsel Alexandra Low, with Partner Simon Raftopoulos, Paralegal Sophia Cunningham, Articled Clerk Nazia Jacques and other members of the corporate team.
Appleby continues to play a key role in major SPAC and public-market matters worldwide.
