Stephenson Harwood advises Nanoleaf on proposed investment from OneRobotics
Law firm Stephenson Harwood has advised Nanoleaf Limited (‘Nanoleaf’), its founders, and existing shareholders, in relation to the proposed investment in Nanoleaf by OneRobotics (Shenzhen) Co., Ltd. (‘OneRobotics), for a total consideration of approximately US$40.5 million.
The transaction comprises multiple tranches of investment, involving disposal of shares, subscription of new shares and staged closings.
Nanoleaf is a global consumer technology company focused on smart connected products, including lighting, for the home, with a global distribution network and partnerships with major international platforms and retailers, such as Costco, Best Buy and Home Depot, across North America, Europe and Asia Pacific.
OneRobotics, incorporated in China and listed on the Hong Kong Stock Exchange, is a global AI home robotics company. Its products are available in more than 90 countries and regions, with more than 3.6 million users worldwide.
The team advised on all aspects of the cross border transaction, including negotiation of the investment terms, warranty and indemnity protection, staged completion mechanics, segregated account arrangements, and equity incentives. The transaction involves complex regulatory compliance issues under Hong Kong law and Chinese outbound direct investment rules, as well as tax implications under US and Canadian laws.
Partner Danny Kan led the Stephenson Harwood team, supported by Associate Michael Mok.
