White & Case Advises Helix Acquisition Corp. II on Upsized US$184 Million IPO

Global law firm White & Case LLP has advised Helix Acquisition Corp. II (Helix II) on its US$184 million upsized initial public offering.

The offering comprised 18.4 million Class A ordinary shares at US$10 per share, including 2.4 million Class A ordinary shares issued pursuant to the full exercise of the underwriter's over-allotment option. The shares are listed on the Nasdaq Global Market and are trading under the ticker symbol HLXB.

This is the first special purpose acquisition company (SPAC) IPO since 2021 to include only ordinary shares, and no warrants or rights.

Helix II is the second SPAC sponsored by an affiliate of Cormorant Asset Management, LP, a leading life sciences-focused investment firm.

White & Case also advised on the IPO and business combination of Helix Acquisition Corp., the first SPAC sponsored by the Cormorant team. Helix Acquisition Corp. raised US$115 million in its IPO, which closed in October 2020, and completed its initial business combination with MoonLake Immunotherapeutics AG (NASDAQ: MLTX), a clinical-stage biopharmaceutical company focused on creating next-level therapies for inflammatory diseases, in April 2022.

The White & Case team was led by Capital Markets partner Joel Rubinstein (New York), and included associates Chad Klitzman (Miami), Guiying Ji and Esther Stefanini (both in New York); and Tax partner Sang Ji and associate Adriana Zhan (both in New York).

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