Appleby Advises Safeguard Acquisition Corp. in Its USD230M Initial Public Offering
Appleby is pleased to announce that it acted as Cayman Islands legal counsel to Safeguard Acquisition Corp. (Safeguard Acquisition) in connection with the closing of its initial public offering of 23,000,000 units, which includes 3,000,000 units issued pursuant to the exercise by the underwriters of their over-allotment option in full, at a public offering price of $10.00 per unit. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant exercisable to purchase one Class A ordinary share at a price of $11.50 per share.
Safeguard Acquisition’s units are listed on the New York Stock Exchange (NYSE) and commenced trading under the ticker symbol “SAC.U” on December 4, 2025. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on NYSE under the symbols “SAC” and “SAC WS,” respectively.
Appleby advised on all Cayman Islands legal aspects of the transaction, further strengthening the firm’s proven track record and highlighting its 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.
