Deal Details

Swvl Merges with Queen's Gambit SPAC

Technology & Services

Swvl merger with Queen’s Gambit

Summary

Swvl Inc. (“Swvl” or the “Company”) announced that it has closed its previously announced merger with the special purpose acquisition company Queen’s Gambit Growth Capital (“Queen’s Gambit”). Through the merger, Swvl common stock and warrants began trading on the NASDAQ (NASDAQ: SWVL and SWVLW).

Baird served as a capital markets advisor to Swvl Inc. on this transaction.

About

Swvl is a global provider of transformative tech-enabled mass transit solutions, offering intercity, intracity, B2B and B2G transportation across more than 100 cities in over 20 countries. The Company's platform provides complimentary semi-private alternatives to public transportation for individuals who cannot access or afford private options. Every day, Swvl's parallel mass transit systems are empowering individuals to go where they want, when they want – making mobility safer, more efficient, accessible, and environmentally friendly. Customers can book their rides on an easy-to-use proprietary app with varied payment options and 24 / 7 access to high-quality private buses and vans. Swvl is headquartered in Dubai, United Arab Emrites.

Queen’s Gambit was a blank check company whose business purpose was to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Queen’s Gambit was the first special purpose acquisition company led entirely by women. Victoria Grace, CEO and Director, serves as a founding partner of Colle Capital Partners I, LP and previously a partner at Wall Street Technology Partners, LP. Anastasia Nyrkovskaya, CFO, is currently the CFO of Fortune Media and previously served as CFO and Treasurer of Birchbox. Queen’s Gambit is headquartered in New York, New York.

Technology & Services

Swvl merger with Queen’s Gambit