Hugh Anderson
Partner
Cayman Islands
This announcement relates to the closing of a previously announced transaction, which was first announced in December 2024.
Seyond is the third LiDAR maker to list in Hong Kong, following RoboSense Technology and Hesai Group. Unlike the other two larger LiDAR makers, Seyond achieved its listing through a merger with a special purpose acquisition company (SPAC), TechStar.
Our cross-border corporate team advised Seyond on all Cayman Islands and British Virgin Islands law aspects of the transaction. The team was led by Cayman Islands-based partner Hugh Anderson, who was supported by Hong Kong-based partners Mark Cummings and Kevin Ho, alongside senior counsel Michael Beck, senior associate Beverly Lui and associate Samuel Buchan.
A strategic move driving market expansion
This HK$11.7 billion transaction not only marks a significant milestone for Seyond, but also strengthens the company’s position in the automotive, intelligent transportation, robotics and infrastructure sectors, setting the stage for accelerated growth. The transaction also provides Seyond with the financial capacity to drive market expansion, advance R&D and scale commercialisation. Upon completion of the business combination, Seyond will emerge as a publicly traded entity ready for its next phase of growth.
A trusted legal partner every step of the way
Hugh Anderson commented: "We are delighted to support Seyond on this latest milestone transaction, having advised Seyond since completing their initial seed round financing."
Mark Cummings and Kevin Ho added: "This deal is a testament to Walkers' ability to deliver top-tier, multi-jurisdictional advice on complex corporate transactions, with round-the-clock support across global financial centres."
