Goodwin and Nelson Mullins in USD685m Crown LNG SPAC merger

Goodwin Procter Nelson Mullins Crown LNG Catcha Investment

Goodwin Procter and Nelson Mullins Riley & Scarborough have assisted the USD685 million merger of the Oslo-based liquefied natural gas (LNG) offshore terminal provider Crown LNG and a special purpose acquisition company (SPAC) Catcha Investment.

Goodwin Procter advised Catcha Investment on the merger, led by Hong Kong private equity partners Daniel Dusek, Douglas Freeman and Victor Chen. The firm’s SPAC partners Jocelyn Arel in Boston, capital markets partner Jeffrey Letalien in New York and tax partner Daniel Karelitz in Boston also assisted the team.

Nelson Mullins Riley & Scarborough represented Crown in this transaction.

Scheduled to be completed in the fourth quarter of 2023, the combined company will be named Crown LNG Holdings and is due to be listed on the New York Stock Exchange.

Crown plans to use the funds from the SPAC deal to finance its infrastructure projects in India and Scotland, as well as expand operations into new markets such as Vietnam and Canada.

A SPAC is a shell corporation listed on a stock exchange, which can help a private company after an acquisition go public without going through the traditional initial public offering process.