SPAC

A SPAC (Special Purpose Acquisition Company) is an alternative way of raising capital through an initial public offering (IPO), before acquiring an operating target company. SPAC management teams usually target a broader industry or sector rather than a specific company. Once the SPAC goes public, it has a set timeframe – typically 24 months – to use the funds that it has raised to acquire a target. If it does not make an acquisition (“de-SPAC”), it will return its funds to the investors.

SPAC activity has undergone a significant uptick recently. A SPAC not only poses an attractive opportunity for investors, it also offers companies greater control over their valuation and share price – unlike a traditional IPO with its inherent market volatility risks.

Houthoff's ECM team was the first in the Netherlands to assist with the launch of a Dutch SPAC, using an anti-takeover construction (European Healthcare Acquisition & Growth BV).

Highlighted Matters
Advised European Healthcare Acquisition & Growth Company B.V., a Euronext Amsterdam-listed special purpose acquisition company (SPAC), on entering into a business combination with Croma-Pharma GmbH.
Highlighted Matters
Advised De Agostini on the EUR 7.2 billion business combination of Pegasus Entrepreneurs with FL Entertainment. Awarded Best ECM Deal 2022 by M&A Community
Highlighted Matters
Advised Frazier Lifesciences Acquisition Corporation (SPAC), together with Goodwin Procter LLP, on its intended business combination with NewAmsterdam Pharma and listing of the combined entity on Nasdaq.
Highlighted Matters
Advised GP Bullhound Acquisition I SE (SPAC) on its IPO raising EUR 200 million.
Highlighted Matters
Advised European Healthcare Acquisition & Growth Company B.V. (EHC), the first operators-led healthcare-focused acquisition and growth company in Europe, on successfully completing its EUR 200 million private placement and listing on Euronext Amsterdam.
Highlighted Matters
Advised Ally Bridge Group on PIPE investment in EUR1.5 billion de-SPAC.
Highlighted Matters
Advised Kensington Capital Acquisition Corp. II, a NYSE-listed special purpose acquisition company, on the merger agreement with Wallbox and Wallbox's listing as a Dutch N.V. on NYSE through the merger.
Highlighted Matters
Advised, together with Goodwin Procter LLP, Qell Acquisition Corp., a publicly listed special purpose acquisition company (Nasdaq: QELL) in connection with the listing of Lilium as a Dutch N.V. on Nasdaq through a business combination with Qell.