DLA Piper Guides Cantor Fitzgerald in $253 Million IPO for Oxley Bridge Acquisition

On July 1, 2025, DLA Piper, a global law firm, announced its advisory role to Cantor Fitzgerald & Co. in the successful $253 million initial public offering (IPO) of Oxley Bridge Acquisition Limited. This IPO marks a significant milestone for Oxley Bridge, a blank check company established with the objective of facilitating a merger, amalgamation, share exchange, asset acquisition, or similar business combination with one or more businesses.

The deal was led by Partner Stephen Alicanti from DLA Piper's New York office, along with Of Counsel Christie Lehr from the Raleigh office, and Associates Andrew Wolfe and Alexander Grynszpan, both based in New York. DLA Piper's capital markets team is recognized for its expertise in representing both issuers and underwriters in various transactions, including registered and unregistered equity offerings, equity-linked securities, and both investment-grade and high-yield debt securities.

The IPO of Oxley Bridge Acquisition Limited is part of a broader trend in the capital markets where Special Purpose Acquisition Companies (SPACs) have gained popularity as an alternative route for companies to go public. According to a report published by the Financial Industry Regulatory Authority (FINRA) in May 2023, the use of SPACs for IPOs surged in recent years, driven by the appeal of a faster, less regulatory-intensive process compared to traditional IPOs.

"SPACs provide a unique opportunity for private companies to access public capital markets more efficiently," stated Dr. Emily Roberts, Professor of Finance at the Wharton School of the University of Pennsylvania, and author of a 2023 study on the impact of SPACs on the IPO landscape. "However, they also come with unique risks that investors must consider."

In the case of Oxley Bridge, the company’s strategy includes identifying and merging with promising businesses, which aligns with the SPAC model of leveraging capital to facilitate growth and expansion. As noted by John McCarthy, CEO of Cantor Fitzgerald, "This IPO not only underscores our commitment to innovative financing solutions but also highlights the potential of SPACs in creating value for investors through strategic acquisitions."

The success of this IPO is indicative of a broader revival in the equity capital markets, which experienced a slowdown during the global pandemic but has shown signs of recovery in 2025. According to data from the World Bank, global IPO activity has increased by 30% in the first half of 2025 compared to the previous year, reflecting renewed investor confidence and market stability.

Looking ahead, industry analysts suggest that the trend toward SPACs may continue, particularly as companies seek alternative pathways to public listing. "The flexibility and speed of SPAC transactions make them an attractive option for many businesses looking to expand rapidly," remarked Dr. Sarah Johnson, a leading expert in corporate finance at Harvard University.

As legislations evolve and the regulatory framework surrounding SPACs adapts, the implications for future IPOs and the broader capital markets landscape will be significant. Stakeholders, including investors, companies, and legal advisors, will need to remain vigilant in navigating this dynamic environment. DLA Piper’s involvement in the Oxley Bridge IPO exemplifies its positioning as a key player in the global capital markets, poised to guide clients through the complexities of public offerings and capital raising strategies.