DGAP-Adhoc Lakestar SPAC I SE launches bookbuilding for up to EUR 275 million private placement and listing on Frankfurt Stock Exchange and targets business combination with a European technology company
DGAP-Ad-hoc: Lakestar SPAC I SE / Key word(s): Capital Increase
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Lakestar SPAC I SE launches bookbuilding for up to EUR 275 million private placement and listing on Frankfurt Stock Exchange and targets business combination with a European technology
Luxembourg, February 17, 2021 - Lakestar SPAC I SE (the "Company", ISIN: LU2290523658, Frankfurt Stock Exchange: LRS1), a Luxembourg special purpose acquisition company, announces the start of a private placement of up to 27,500,000 units (the "Units"), each consisting of one share (a "Public Share") and 1/3 warrant (a "Public Warrant"), at a price of EUR 10.00 per unit representing a total placement volume of up to EUR 275 million. The Units will be solely offered to institutional investors. The private placement is expected to end on or before February 18, 2021.
The Company, sponsored by an affiliate of Dr. Klaus Hommels, founder and chairman of Lakestar Advisors GmbH, was established for the purpose of acquiring one operating business in Europe in the form of a merger, capital stock exchange, share purchase, asset acquisition, reorganization or similar transaction (the "Business Combination"). The Company, led by Stefan Winners (Chief Executive Officer) and Inga Schwarting (Chief Investment Officer), plans to target a company in the technology sector with a focus on the sub-sectors software as a service, fintech, transportation and logistics, healthtech or deep tech. The target shall have an equity value of between EUR 750 million and EUR 4 billion which will be paid in new shares and/or in cash, including from the proceeds of a possible future private placement in connection with the Business Combination. The Company will have 24 months to consummate a Business Combination, plus an additional three months, if it signs a legally binding agreement with the seller of a target within those initial 24 months. Otherwise, the Company will be liquidated and distribute substantially all of its assets to its shareholders.