First German Spac successfully launched

Lars-Thorben Niggehoff Lars-Thorben Niggehoff | 19.02.2021

The shell company of Klaus Hommels was able to collect a three-digit million amount.

The shell company "Lakestar Spac 1" has successfully launched on the Frankfurt Stock Exchange. The investment vehicle, initiated by start-up investor Klaus Hommels, raised the targeted 275 million euros within two days, as reported by Handelsblatt

.

Hummels and his partner Stefan Winners now have two years to find an attractive tech start-up and merge it with SPAC, bringing it to the stock market through the back door. This is expected to be worth at least €750 million. Hommels told Handelsblatt

that the interest in his project was a sign of confidence in the opportunities offered by the European tech sector.

Spacs have been popular, especially in the US, for some time. These empty corporate shells raised tens of millions of dollars there last year. The "Lakestar Spac 1" is the first attempt with the model in Germany for about ten years.


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