Walkers has advised Securitize on a transaction that took the digital asset infrastructure company public at a US$1.25 billion valuation.
The Cayman Islands law firm acted on Securitize’s business combination with Cayman-incorporated special purpose acquisition company Cantor Equity Partners II, Inc.
The transaction raised about $400 million and enabled Securitize Inc to begin trading on the New York Stock Exchange on 2 July.
According to Walkers in a press release on 3 July, the deal made Securitize the first pure-play tokenisation infrastructure company to list on a major US exchange.
Securitize moved quickly to connect its public listing with its blockchain business.
On its first day of trading, the company launched issuer-sponsored tokenised versions of its New York Stock Exchange common stock on the Avalanche and Solana blockchains.
The transaction was led by Walkers partner Christopher Brett Young, supported by partner Martin Davies and associates Clodagh Murray and Samantha Currie.
“It has been a privilege to advise Securitize on this landmark transaction,” Young said.
“The deal represents a watershed moment for real-world asset (RWA) tokenisation and underscores our preeminent position in offshore M&A, particularly within the digital assets and fintech sector.”
The deal is one of the latest examples of tokenisation companies using public markets as the sector continues to expand.
Tokenisation involves representing traditional financial assets on blockchain networks, allowing them to be issued, managed and traded in digital form.
Davies added: “Securitize is building the critical infrastructure for the successful roll out of tokenised products.
“As this space rapidly matures, we remain at the forefront of advising on Cayman Islands tokenised fund structures.”
Davis Polk and Wardwell LLP acted as US legal adviser to Securitize on the transaction.
