Linklaters advised Moolec on $376 million de-SPAC transaction

Linklaters advised Moolec on $376 million de-SPAC transaction

The entity's newly-formed Luxembourg holding company has begun trading shares and warrants on Nasdaq

A global team of Linklaters from New York, São Paulo, Luxembourg, and London has advised Moolec Science Limited on its business combination with special purpose acquisition company LightJump Acquisition Corp.

As a result of the combination, the newly formed Luxembourg holding company of the combined entity, Moolec Science SA began trading ordinary shares and warrants on Nasdaq (under the ticker symbols MLEC and MLECW, respectively).

The transaction is the third de-SPAC that Linklaters has participated in with a US-listed SPAC and a Latin American target, a rarity in the market.

Moolec is a science-based food ingredient company focused on producing animal proteins in plants through molecular farming. It is a spin-off from Bioceres Group, a Latin American life sciences flagship group. It is a longstanding client of Linklaters.

The law firm previously advised Bioceres on its initial business combination with Union Acquisition Corp., the first SPAC with the Union Acquisition Group as a sponsor.

Thereafter, Linklaters has worked with both Bioceres and UAG on a number of matters, including UAG's $1.125 billion SPAC business combination resulting in the formation of the Procaps Group.

The Linklaters deal team from New York and São Paulo offices was led by corporate practice partners Matthew Poulter and Pierre-Emmanuel Perais, associates Thomas Lemouche, Justin Adamson, Caroline Aguiar, and Fraser Goodlad, and law clerk Titus Kabega. The team also comprised tax practice counsel Gabriel Grossman and associate Nina Hrushko.

The firm's Luxembourg team supporting the transaction was led by corporate practice partner Rémy Bonneau alongside counsel Maxime Bertomeu-Savalle, managing associate Eugenie Syx, and associates Colas Surot and Amélie d'Aspremont. It included tax partner Joakim-Antoine Charvet and associate Cyrielle Nis.

Linklaters' London office team included corporate practice counsel Philippa Gavey and associate Christian Mok, tax practice partner Chris Smale, managing associate Sam Lintonbon, and associate Klara Janiec, and employment and incentives practice partner Alexandra Beidas and associate Ben McCarthy.