Triterras Fintech Pte Ltd., a leading fintech company for commodity trading and trade finance and Netfin Acquisition Corp., a special purpose acquisition company targeting businesses in the fintech industry, have entered into a definitive agreement for Triterras Fintech to become a publicly listed company, as detailed in the press release issued by the companies. Upon closing of the transaction, a newly formed Cayman holding company to be named “Triterras” will acquire Triterras Fintech and Netfin and register its shares for listing on the Nasdaq Stock Market under a new ticker symbol. Triterras is estimated to have a post-transaction enterprise value of $674 million.
Milbank is advising Triterras Fintech in the transaction with a deal team led by Singapore Capital Markets partner Giles Kennedy, New York Capital Markets partner Brett Nadritch and New York M&A partner Scott Golenbock. Advice was also provided by Executive Compensation & Employee Benefits partner Mike Shah, New York Tax partner Andrew Walker, New York Corporate special counsel Iliana Ongun, New York Corporate associate Frank Pensabene, New York Corporate special counsel Lesley Janzen, Singapore Capital Markets special counsel James McFarlane and associates Steven Holm and Raashi Mukherji, and New York Executive Compensation & Employee Benefits associate Kelly Bartley.
