WilmerHale Advises Verde Bioresins, Inc. in Business Combination with TLGY Acquisition Corporation

WilmerHale Advises Verde Bioresins, Inc. in Business Combination with TLGY Acquisition Corporation

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On June 22, 2023, Verde Bioresins, Inc., a full-service Los Angeles-based bioplastics product company, announced it had entered into a business combination agreement with TLGY Acquisition Corporation (Nasdaq: TLGY), a special purpose acquisition company, in a transaction implying a $365 million pre-money enterprise value to Verde. Upon closing of the business combination, the combined company is expected to list its common stock on Nasdaq under the new ticker symbol "VRDE."

Verde produces PolyEarthylene – a proprietary renewable resin created mainly from plant-based raw materials – which can be used for injection molding, blow molding, film extrusion, thermoforming and rigid packaging.

TLGY is a blank check company incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses.

The WilmerHale legal team advising Verde includes Daniel Zimmermann, Michael Gilligan, Glenn Pollner, Julie Hogan Rodgers, Ciara Baker, Scott Kilgore, Dimitry Lensky, Yvonne Elosiebo, Meghan Walsh, Victoria Peluso and Giancarlos Rodriguez.

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