Ogier in Hong Kong advises both Tristar Acquisition I Corp and Helport Limited on their business combination

Two separate Ogier teams in Hong Kong have advised on the business combination of Tristar Acquisition I Corp with AI technology company Helport Limited, with the firm acting for both parties.

Tristar Acquisition I Corp (Tristar) is a Nasdaq-listed special purpose acquisition company (SPAC) incorporated in the Cayman Islands. Helport Limited (Helport), which serves enterprise customer contact centres with intelligent products, solutions and a digital platform, is incorporated in the British Virgin Islands (BVI).

The business combination involved a statutory merger in the BVI, followed by another statutory merger in the Cayman Islands. The business combination closed on 2 August 2024 with both Tristar and Helport becoming the wholly owned subsidiaries of Helport AI Limited (Helport AI), a BVI holding company newly incorporated by Helport. The ordinary shares of Helport AI commenced trading on the Nasdaq under the ticker symbol HPAI on 5 August 2024.

Tristar was provided Cayman Islands legal services by partner Florence Chan, with support from legal manager Anna Cheung and paralegal Jenson Ng. Helport was provided BVI and Cayman Islands legal services by partner Rachel Huang, with support from legal manager Kingston Tang. Ogier worked closely with Tristar's US counsel, Ellenoff Grossman & Schole LLP, and Helport's US counsel, Hunter Taubman Fischer & Li LLC, in this de-SPAC transaction. 

Florence said: "We are delighted to act for both Tristar and Helport on this business combination, demonstrating Ogier's capability in completing multiple mergers in the BVI and the Cayman Islands."