News Releases

Baker Botts Advises SHUAA Partners Acquisition Corp I in its Initial Public Offering


Deal Description: SHUAA Partners Acquisition Corp I (the “Company”) announced today that on March 1, 2022, it priced its initial public offering of 10,000,000 units, at a price of $10.00 per unit, with each unit consisting of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. The warrants will become exercisable 30 days after the completion of the Company’s initial business combination and will expire five years after the completion of the Company’s initial business combination or earlier upon redemption or liquidation, as described in the prospectus. The Company also granted the underwriters a 45-day option from the date of the final prospectus to purchase up to an additional 1,500,000 units to cover over-allotments, if any.

The units will be listed for trading on the Nasdaq Global Market, or Nasdaq, under the symbol “SHUAU” beginning on March 2, 2022. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants will be traded on Nasdaq under the symbols “SHUA” and “SHUAW,” respectively.

The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company intends to search for a target within the technology or tech-enabled financial services (“fintech”) sectors, across the high growth markets of the Middle East, North Africa, and Turkey region (collectively, “MENAT”). The search for a target will be tech-focused and sector-agnostic, allowing the Company to fundamentally leverage new and growing trends within the tech sector and access potential targets that are targeting key areas for change within traditional business sectors in the MENAT region.

Baker Botts acted as legal counsel to the Company.

Kirkland & Ellis acted as underwriters’ counsel and BTIG as sole bookrunning manager.

Baker Botts Lawyers/Offices Involved:

Corporate: Haitham Hawashin (Partner, Dubai); Doug Getten (Partner, Houston); Travis Wofford (Partner, Houston); Jonathan Gordon (Partner, New York); Derek Jones (Partner, London)Parker Hinman (Associate, Houston); Henry Klimowicz (Associate, New York); Will Cozzens (Associate, Austin); and Michael Donnellan (Associate, Houston)

Tax: Michael Bresson (Partner, Houston); Derek Green (Partner, Houston); and Jared Meier (Senior Associate, Houston)

Baker Botts is an international law firm whose lawyers practice throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit


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