FinanceDublin.com - <b>Deals of the Year 2023: </b>Irish incorporation unlocks potential of US, Finland firms’ merger

When NYSE-listed, SPAC Angel Pond wanted to combine with Finland-domiciled MariaDB the former’s Cayman Island incorporation presented a stumbling block. Its Irish legal advisers devised a neat, if complex, solution that used Ireland as the jurisdiction of incorporation to facilitate the merger followed by the IPO of an Irish holding company in the US.

Angel Pond Holdings Corporation, an NYSE-listed special purpose acquisition company, wanted to combine its business with MariaDB Corporation Ab, one of the most popular open source database software companies in the world.

However, the existing jurisdiction of incorporation of the SPAC in the Cayman Islands was inhibiting its merger with the Finland-domiciled target, as shareholders would be subject to withholding tax on dividends or other distribution paid by Mari....

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