SPACs reworked as ECT 1 offers Eu150m
Deutsche Bank on Monday launched a Eu150m Frankfurt IPO for a shell company targeting a Eu500m to Eu1.5bn clean technology investment. The deal contains a number of features new to German special purpose acquisition companies (SPACs) to make it more attractive for investors.
European CleanTech 1 (ECT 1) plans to offer 15m units at Eu10 each, with a 6.625m unit extension option. Each unit consists of one Class A share and a Class A warrant which has an exercise price of Eu11.50.
Germany 1 and Helikos, two earlier SPACs featured warrant
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