Skadden advised ECARX Holdings, Inc., a leader in the design, development and delivery of intelligent vehicle technology, on its merger with COVA Acquisition Corp. which values ECARX at $3.82 billion pro forma equity value. A merger agreement was announced on May 26, 2022, and the closing of the transaction is expected to occur in the fourth quarter of 2022. Upon completion of the transaction, ECARX expects to be listed on Nasdaq under ticker symbol “ECX”.
The Skadden team was led by partners Peter Huang (Beijing) and Shu Du (Hong Kong), with Asia Pacific counsel Flora Lu (Shanghai), associates Peter Pang (Shanghai), Susan Lu (Beijing), Derek Li (Hong Kong), Haoran Luan (Beijing) and international project manager Ryann An (Beijing). Bruce Goldner (Partner, New York), Eve-Christie Vermynck (Counsel, London) and Allison Lasher (Associate, New York) advised on intellectual property and data matters. Victor Hollender (Partner, New York) and Joshua Lin (Associate, New York) advised on tax matters.
