Alchemy’s Playbook: Turning Private Credit Into Public Growth
Alchemy, a special purpose acquisition company (SPAC), went public in 2023 after raising $100 million in its IPO. SPACs operate as shell entities that raise funds to merge with a private company, allowing the target firm to go public without a traditional IPO.
At its IPO, Alchemy said it was hunting for a technology firm with a strong foothold in data analytics. This deal signals it has found the right match.
Alchemy co-CEO Mattia Tomba explained the move:
“At Alchemy, we specialize in unlocking under-explored private-credit opportunities and delivering capital solutions that help companies scale and, when appropriate, access the public markets. We believe Cartiga is exceptionally well situated to capitalize on growing opportunities to invest in the legal services sector.”
Legal Heavyweights on Both Sides
Alchemy’s counsel is led by Loeb & Loeb LLP partners Jon Talcott, Mike Bradshaw, and Wells Hall. On Cartiga’s side, Nelson Mullins Riley & Scarborough LLP is serving as legal adviser, though full details of its team were not yet available Tuesday.
