Cozen O’Connor Advises Xtribe on Definitive Agreement to Go Public on Nasdaq through Proposed Business Combination with WinVest Acquisition Corp.

Thursday, May 9, 2024

New York, May 9, 2024 – Cozen O’Connor advised Xtribe P.L.C., a technology-driven platform that matches sellers of goods and services with local buyers, in its definitive business combination agreement with WinVest Acquisition Corp. (NASDAQ: WINV), a publicly traded special purpose acquisition company.

The business combination is expected to result in the newly joined business becoming publicly listed on Nasdaq. The combined company will be renamed “Xtribe Holdings Limited” upon closing. Xtribe is valued at an implied enterprise value of approximately $141 million, assuming no redemption by WinVest’s existing public stockholders.

The transaction is expected to close in late 2024, subject to the satisfaction of certain closing conditions. After the closing, Xtribe shareholders are expected to retain a majority of the outstanding shares of the combined company, and will have the right to designate a majority of the initial proposed directors for the board.

Cozen O’Connor is serving as U.S. legal counsel to Xtribe. The Cozen O’Connor team is led by Christian Moretti. The team includes Larry P. Laubach, David Kirchblum, Kevin Roggow, and Marco Biagiotti.

Cozen O’Connor’s Global Mergers & Acquisitions Practice advises multinational companies, private equity firms, and financial advisors on the full spectrum of public and private mergers and acquisitions in complex cross-border transactions. The practice is a leading player for transactions involving European, Asian, and South American companies and private equity funds. The group offers international clients comprehensive capabilities in executing M&A deals, as well as guiding domestic and foreign clients in trajectory-changing transactions.

About Cozen O’Connor

Established in 1970, Cozen O’Connor has over 850 attorneys who help clients manage risk and make better business decisions. The firm counsels clients on their most sophisticated legal matters in all areas of the law, including litigation, corporate, and regulatory law. Representing a broad array of leading global corporations and middle market companies, Cozen O’Connor serves its clients’ needs through 32 offices across two continents.

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