Second German SPAC on the stock exchange
468 Capital goes public on Friday. The shell company now wants to present a takeover candidate within a year.
468 Capital went public via SPAC. The issue price of a share in the shell company was ten euros. The company is backed by Berlin-based VC 468 Capital and thus ex-Rocket Internet board member Alexander Kudlich, former Rocket investor Ludwig Ensthaler and Mesosphere founder Florian Leibert.
Small shareholders have no chance. The share packages will be sold exclusively to institutional investors. After the IPO, 468 Capital is expected to raise 300 million euros from the sale of shares, according to the prospectus. A large part of the money comes from the founders themselves.
Lakestar already went public via SPAC in February. This makes 468 Capital only the second German SPAC IPO. This involves selling shares in an empty company shell. The shell company then looks for a takeover candidate, which is bought and thus helped to go public quickly. 468 Capital aims to present its shareholders with a tech start-up for takeover within a year.
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