WASHINGTON, D.C. – Nelson Mullins represented PHP Ventures Acquisition Corp. (“PHP”) in its special purpose acquisition company (“SPAC”) deal with Modulex Modular Buildings Plc (“Modulex”). The deal has a value of $723 million and is expected to be completed in the second quarter of 2023. The combined company would trade on the NASDAQ Capital Market under the ticker symbol “MDLX.” 

The Nelson Mullins team was led by partners Andy Tucker and Angela Hart-Edwards, and associate Victoria Moreno Pabón. They were supported by partners Wells Hall, Tim Wagner, Nichole Hayden, and Anthony Laurentano.

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

Modulex manufactures 3D volumetric steel modular buildings and harnesses emerging technologies, such as Artificial Intelligence, Blockchain, and Internet of Things.

Tucker is a corporate and securities advisor to growing companies, particularly in the technology and government contracting sectors. He assists his clients with a broad variety of transactional support, including venture capital and private equity transactions, joint ventures, mergers and acquisitions, and public and private securities offerings.

Hart-Edwards focuses her practice on mergers and acquisitions and securities transactions, including public and private offerings of securities, 1933 Act filings, 1934 Act reporting, corporate governance, SEC compliance, and general corporate matters. She also advises SPACs from formation, through their initial business combination, to post-merger matters and governance.

Moreno Pabón advises private companies in the energy, telecommunications, and technology industries. She provides counsel to domestic and international clients on a wide variety of corporate matters, including mergers and acquisitions, financings, strategic investments, and corporate formation and restructuring. She also assists clients with public and private securities offerings.

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