When Queen’s Gambit Growth Capital (“Queen’s Gambit”), the first women-led special purpose acquisition company, announced that its shareholders had approved the previously announced merger with Swvl Inc., and all other proposals presented at Queen’s Gambit’s extraordinary general meeting of shareholders on March 30, 2022, it was a big deal.
On March 30th, 2022, Queen’s Gambit filed a Form 8-K with the US Securities and Exchange Commission (the “SEC”) containing the results of the Shareholders’ Meeting, as tallied by an independent inspector of elections.
Once remaining closing requirements are met or waived, the business combination is scheduled to be completed today March 31, 2022.
Swvl Holdings Corp. is expected to become the new name of the amalgamated entity following the closing. On March 31, 2022, Swvl Holdings Corp. Class A common stock and warrants of Swvl Holdings Corp. will begin trading on NASDAQ under the ticker codes “GMBT” and “GMBTW,” respectively.
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Swvl Holdings Corp.’s Class A common shares and warrants are scheduled to begin trading on NASDAQ the next day, on April 1, 2022, under the ticker symbols “SWVL” and “SWVLW,” respectively.
A Look At Queen’s Gambit
Queen’s Gambit is a female-led special purpose acquisition company founded to achieve a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or other similar corporate combination. Queen’s Gambit, led by Founder & CEO Victoria Grace, has focused its search on discovering a target that is defining the future of its industry by providing disruptive solutions that support sustainable development, economic growth, and prosperity.
A Look At What SWVL Does
Swvl is a global supplier of disruptive tech-enabled mass transit solutions, providing intercity, intracity, B2B, and B2G mobility in over 100 cities across more than 20 nations.
Individuals who cannot access or afford private options can benefit from the Company’s platform, which offers complimentary semi-private alternatives to public transit. Swvl’s parallel mass transit systems enable people to go where they want, when they want, making mobility safer, more efficient, accessible, and ecologically beneficial. Customers can book rides using an easy-to-use proprietary software that offers a variety of payment choices and 24 / 7 access to high-quality private buses and vans.
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Mostafa Kandil co-founded Swvl after launching Carmudi in the Philippines, which quickly became the largest car classifieds network in the country. He later became Rocket Internet’s Head of Operations. Kandil joined Careem, a ride-sharing business and the Middle East’s first unicorn, in 2016, where he established services in a number of additional markets.
SWVL SPAC SWVL SPAC
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer