Shell company of Hellofresh boss takes concrete shape

Lisa Marie Münster Lisa Marie Münster | 24.02.2021

The rumors are coming true: Dominik Richter and Roman Kirsch have submitted a prospectus for their shell company under the name Tio Tech A to the stock exchange supervisory authority. They want to raise 250 million euros, and the first investors are already on board.

Exactly one week ago it was still a guess of insiders, now the required prospectus for an IPO has been filed with the US Securities and Exchange Commission: Dominik Richter, head of Hellofresh, and Roman Kirsch, founder of Lasera, are bringing a shell company called Tio Tech A to the New Xork Stock Exchange. This is expected to raise around 250 million euros, with the IPO valuing the shell company at 300 million euros. The share price is expected to be eight euros, as reported by Gründerszene

.

Deutsche Bank accompanies the process as a bookrunner. And there are first investors: Two hedge funds secure 20 million euros. As quickly as possible, the Spac initiators now want to take over a start-up. The focus is on the technology sector in Europe, companies with a valuation of 615 million euros or more are of interest. The concept of a shell company requires a successful merger with a start-up in the first 24 months, because it goes public as an empty shell company. So investors are primarily betting on the skill of the shell company's founders; if the search fails, investors get their money back.

At Tio Tech A, Richter is chairman, Kirsch CEO. Also on board is ex-Rocket manager Spyro Korsanos. The board consists of Manuel Stotz, Jonathan Teklu and Jeronimo Folgueira, with Victor Jacobsson and Thomas Griesel, who co-founded Hellofresh, on the advisory board. In addition, the rumors that Jan Beckers was on board were confirmed. He too sits on the advisory board.


Like it? Please spread the word:

Newsletter

Startups, stories and stats from the German startup ecosystem straight to your inbox. Subscribe with 2 clicks. Noice.

LinkedIn Connect

Take care, give care

Did this news inform or entertain you? Then we would be happy if you tell your network about it.

Share on Linkedin Share on Facebook Share on Xing

Related companies

Startup 2015 Berlin HelloFresh Distribution of cooking boxes with recipes and fresh ingredients for individual dishes.

FYI: English edition available

Hello my friend, have you been stranded on the German edition of Startbase? At least your browser tells us, that you do not speak German - so maybe you would like to switch to the English edition instead?

Go to English edition

FYI: Deutsche Edition verfügbar

Hallo mein Freund, du befindest dich auf der Englischen Edition der Startbase und laut deinem Browser sprichst du eigentlich auch Deutsch. Magst du die Sprache wechseln?

Deutsche Edition öffnen

Similar posts