Wolf Theiss advises Bright Machines on the CEE aspects of their SPAC transaction

Wolf Theiss has provided advice in Austria, Hungary, Poland and Romania in one of the first multi-jurisdiction SPAC transactions in its region. The team was led by Christian Mikosch (Vienna, Partner) and Jiayan Zhu (Vienna, Counsel), supported by János Tóth (Budapest, Partner), Marietta Molnár (Budapest, Senior Associate), Dániel Péter (Budapest, Associate), Bryan Jardine (Bucharest, Partner), Mircea Ciocirlea (Bucharest, Counsel), Andreea Stan (Bucharest, Senior Associate), Peter Daszkowski (Warsaw, Partner), Agnieszka Nowak-Blaszczak (Warsaw, Senior Associate) and Jan Macior (Warsaw, Associate).

“Congratulations to Bright Machines on going public at NYSE via a $1.6 billion SPAC transaction. We are delighted to advise Bright Machines on this landmark transaction, working alongside Latham & Watkins; Orrick, Herrington & Sutcliffe and a group of other international law firms”, stated Christian Mikosch, Partner at Wolf Theiss.

Bright Machines offers an innovative approach to manufacturing automation by combining proprietary software with adaptive hardware to automate repetitive tasks, enabling manufacturers to quickly deploy flexible, autonomous production lines that can scale based on market demand. The transaction values Bright Machines at a pro forma enterprise value of $1.1 billion and a post-transaction equity value of $1.6 billion. The transaction is expected to provide up to $435 million in gross cash proceeds, including $230 million of cash held in trust from SCVX and a PIPE of $205 million.