K&L Gates Represents Tyfon Culture in US$434 Million Business Combination with GTAC

30 Mei 2024

Global law firm K&L Gates is representing the Chinese contemporary art marketplace Tyfon Culture Holdings Limited (Tyfon Culture) in its announced business combination with Global Technology Acquisition Corp. I (GTAC), a publicly traded special purpose acquisition company. The transaction is expected to close in the second half of 2024, subject to customary closing conditions, such as regulatory and shareholder approvals.

Upon completion, the new entity will operate under the name Tyfon Culture Inc. and will be listed on the NASDAQ Stock Market under the ticker symbol “TFCI”.  The combined company has an estimated post-transaction enterprise value of US$434 million.

Founded in 2013 and headquartered in China, Tyfon Culture is a contemporary Chinese art marketplace. Tyfon Culture combines an offline network of operations with an innovative online technology marketplace to improve and optimize a traditionally inefficient art buying experience.

GTAC is a special purpose acquisition company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

The multi-office K&L Gates team advising Tyfon Culture is being led by Corporate partners Max Gu (Shanghai), Robert Matlin (New York), and Jonathan Barron (New York) and Tax partners Roberta Chang (Shanghai) and Adam Tejeda (New York). The team also includes associates Zidong Liu (New York), Steven Shur (New York), Mingkun Ding (Shanghai), Yibo Wu (Shanghai), and Prudence Pang (Hong Kong).

K&L Gates’ Corporate practice is one of the most substantial in the legal industry, with more than 500 lawyers in offices on five continents providing clients with practical legal solutions in the structuring, financing, and completion of domestic, international, and cross-border transactions.