28 March 2024
Mergers and Acquisitions - Tax
Linklaters Advises OmnigenicsAI Corp on Business Combination Agreement with APx Acquisition Corp. I and MultiplAI Health Ltd to Create Global AI-Driven Genomics Platform
Linklaters advised OmnigenicsAI Corp, a precision medicine company incubated by Bioceres Group PLC, on a definitive Business Combination Agreement with APx Acquisition Corp. I (NASDAQ: APXI), a publicly traded special purpose acquisition company, and MultiplAI Health Ltd, a UK-based AI-enabled preventive medicine company, that, upon closing, would result in OmnigenicsAI becoming a publicly listed company. The deal values OmnigenicsAI and MultiplAI at a combined enterprise value of approximately $340 million at signing, and the transaction is expected to close mid-year, subject to the approval of APx's shareholders and other customary closing conditions.
The strategic combination creates a global AI-driven genomics company focused on providing secure, precise, and reliable biological data. The integration of AI with precision medicine enables the interpretation of complex genomic data at an unprecedented scale, allowing for the delivery of highly personalized health insights, and clinical and therapeutic guidance.
Linklaters’ cross-border team advising on this transaction was led by Corporate Partners Matthew Poulter in São Paulo and Pierre-Emmanuel Perais in New York, Tax Partner Gabriel Grossman in New York, and Executive Compensation and Employee Benefits Partner Andrew Gaines in New York.
Spanning New York, Washington, D.C., and São Paulo the team also included corporate support from Partner Clara Pang, Managing Associate Marcelo Lopes, and Associates Thomas Lemouche, Damini Bhatnagar, Caroline Aguiar, and Andreina Lamas; tax support from Partner Michelle Lo, Counsel Sean McKeever, and Associates Erika Jensen and Young Jin Kim; antitrust and foreign investment support from Partner Antonia Sherman; and TMT support from Senior Associate Caitlin Potratz Metcalf.
In London, the team also included tax support from Partner Jamie Coomber and Associate Robert Russell, and antitrust and foreign investment support from Partner Bruce Kilpatrick.
In Brussels, the team included TMT support from Managing Associate Tom De Coster and Associate Florence Seghers.
In Warsaw, the team included corporate support from Managing Associate Michal Szperzynski.
This transaction follows a flurry of high-profile corporate deal activity for Linklaters in the U.S., having recently advised The Chefs’ Warehouse, Inc. on its Engagement with and Entering into a Cooperation Agreement with Legion Partners an Activist Investment Manager, Elia Group on its agreement to acquire stake in energyRe Giga, and Getir on its acquisition of FreshDirect.
For additional information on the transaction, read the APx Acquisition Corp. I press release.
About Linklaters
Linklaters is a 185-year-old leading global law firm with over 3,100 lawyers across 31 offices in 21 countries. We combine legal expertise with a collaborative and innovative approach to help clients navigate constantly evolving markets and regulatory environments, pursuing opportunities and managing risk worldwide. In order to offer our clients the highest quality advice, our lawyers across three divisions — Corporate; Litigation, Arbitration, and Investigations; and Finance — specialize in industry sectors as well as practice areas.
The strategic combination creates a global AI-driven genomics company focused on providing secure, precise, and reliable biological data. The integration of AI with precision medicine enables the interpretation of complex genomic data at an unprecedented scale, allowing for the delivery of highly personalized health insights, and clinical and therapeutic guidance.
Linklaters’ cross-border team advising on this transaction was led by Corporate Partners Matthew Poulter in São Paulo and Pierre-Emmanuel Perais in New York, Tax Partner Gabriel Grossman in New York, and Executive Compensation and Employee Benefits Partner Andrew Gaines in New York.
Spanning New York, Washington, D.C., and São Paulo the team also included corporate support from Partner Clara Pang, Managing Associate Marcelo Lopes, and Associates Thomas Lemouche, Damini Bhatnagar, Caroline Aguiar, and Andreina Lamas; tax support from Partner Michelle Lo, Counsel Sean McKeever, and Associates Erika Jensen and Young Jin Kim; antitrust and foreign investment support from Partner Antonia Sherman; and TMT support from Senior Associate Caitlin Potratz Metcalf.
In London, the team also included tax support from Partner Jamie Coomber and Associate Robert Russell, and antitrust and foreign investment support from Partner Bruce Kilpatrick.
In Brussels, the team included TMT support from Managing Associate Tom De Coster and Associate Florence Seghers.
In Warsaw, the team included corporate support from Managing Associate Michal Szperzynski.
This transaction follows a flurry of high-profile corporate deal activity for Linklaters in the U.S., having recently advised The Chefs’ Warehouse, Inc. on its Engagement with and Entering into a Cooperation Agreement with Legion Partners an Activist Investment Manager, Elia Group on its agreement to acquire stake in energyRe Giga, and Getir on its acquisition of FreshDirect.
For additional information on the transaction, read the APx Acquisition Corp. I press release.
About Linklaters
Linklaters is a 185-year-old leading global law firm with over 3,100 lawyers across 31 offices in 21 countries. We combine legal expertise with a collaborative and innovative approach to help clients navigate constantly evolving markets and regulatory environments, pursuing opportunities and managing risk worldwide. In order to offer our clients the highest quality advice, our lawyers across three divisions — Corporate; Litigation, Arbitration, and Investigations; and Finance — specialize in industry sectors as well as practice areas.
