Linklaters advises Baijiayun on its successful NASDAQ listing through a business combination with NASDAQ-listed Fuwei Films

Linklaters advised Baijiayun, a video-centric technology service provider with core expertise in SaaS/PaaS solutions, on its NASDAQ listing through a business combination with Fuwei Films (Holdings) Co. Ltd. (Fuwei Films).

Pursuant to the merger agreement entered into by Baijiayun and Fuwei Films on 18 July 2022, Baijiayun has merged with a wholly-owned subsidiary of Fuwei Films, following which Baijiayun and Fuwei Films shareholders own approximately 96.79% and 3.21%, respectively, of the equity securities of the combined company. The combined company continues to be listed on the NASDAQ and its shares began trading under the new ticker symbol “RTC” on 30 December 2022 after the closing of the transaction.

The Linklaters team is led by corporate partner Xiaoxi Lin, who specialises in private equity investments and listed company M&A (including privatisations and SPAC transactions), with support from managing associate Benran Huang from Zhao Sheng Law Firm, Linklaters’ joint operation partner in China.

Linklaters’ corporate partner Xiaoxi Lin, commented:

“We are delighted to have had the opportunity to support Baijiayun on this milestone transaction and help them explore alternative methods to access the US capital markets. Our team, known for its solid combination of sound technical knowhow and strong commercial approach, looks forward to continuing to assist leading Chinese companies, such as Baijiayun, in achieving their strategic objectives.”