Appleby advises Endurance Acquisition Corp. on its de-SPAC business combination with SatixFy Communications Ltd.
Appleby is pleased to have acted as Cayman Islands legal counsel to Endurance Acquisition Corp. (NASDAQ: EDNC) (“Endurance”), a publicly traded special purpose acquisition company or “SPAC”, on its business combination with SatixFy Communications Ltd. (“SatixFy”), an Israeli vertically integrated fabless semiconductor chip company and a leader in next-generation satellite communication systems. The combined company retains the SatixFy name and its shares and warrants began trading on NYSE on 28 October 2022 under the symbols “SATX” and “SATXW”, respectively.
Appleby earlier advised Endurance, a SPAC founded by Antarctica Capital to focus on space-based tech businesses, on its US$200m SPAC IPO on NASDAQ which closed in September 2021.
The Appleby team was led by Hong Kong managing partner and global co-head of SPACs David Bulley and Cayman-based counsel and global co-head of SPACs Dean Bennett, assisted by Hong Kong associate Alejandra Gonzalez Saucedo. Morrison & Foerster LLP acted as lead counsel for Endurance.
The Appleby team continue to be selected as Cayman Islands counsel of choice for SPAC IPOs and business combinations in the US and Hong Kong in recognition of the firm’s market-leading expertise and cross-jurisdictional capabilities in this area. Appleby was named second in the league table of the “Top Asia-related SPAC Legal Advisers of 2020-21 – Offshore Firms” by Asia Business Law Journal.
