White & Case advises Korean investors on US$150 million acquisition of newly issued shares in HyAxiom

Press Release
1 min read

Global law firm White & Case LLP has advised KDB Investment-Hana Securities, Korea Investment Private Equity and KB Asset Management on the US$150 million acquisition of newly issued convertible preferred shares in US-based HyAxiom, Inc., a leading developer and manufacturer of hydrogen-based and other fuel cells and electrolyzer solutions.

"This deal demonstrates how White & Case continues to be a trusted adviser to major Korean financial groups for their outbound investments," said partner Dongho Lee, who led the Firm's deal team. "It required complex structuring related to the Bank Holding Company Act and Volcker Rule and is an example of the type of cross-border deal that has always been a White & Case strength, which is why we remain a top-of-mind with our leading international clients." 

HyAxiom will use the transaction's net proceeds for capital expenditure and research and development, as well as for working capital and general corporate purposes to further its expansion in the US and globally.

The White & Case team who advised on this transaction was led by partner Dongho Lee (Seoul) and included partners Chang-Do Gong, Seth Kerschner, Steven Lutt, Tal Marnin (all New York), Farhad Jalinous, Rebecca Farrington, F. Paul Pittman (all Washington, DC), Linda Sim (Los Angeles) and Katarzyna Czapracka (Brussels & Warsaw), counsel Glen Cuccinello, Patti Marks (both New York), Ryan Brady (Washington, DC) and Laura Mulry (Los Angeles), and associates Kyle Oh, Yoon Choi (both Seoul), Leel Sinai, Katarina Varriale, Christian Berger, Anthony Veveakis (all New York), Sam McCombs (Houston) and Yuhan Wang (Silicon Valley) and bank regulatory analyst Roseann Cook (New York).

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