Second German SPAC on the stock exchange
Tom Schmidtgen
| 30.04.2021
468 Capital is going public on Friday. The shell company now wants to present a takeover candidate within a year.
468 Capital has gone public via SPAC. The issue price of a share in the shell company was ten euros. Behind the company is the Berlin-based VC 468 Capital and thus the ex-Rocket Internet board member Alexander Kudlich, the former Rocket investor Ludwig Ensthaler and the 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, the prospectus says. Much of the money comes from the founders themselves.
Lakestar already went public via SPAC in February. 468 Capital is thus only the second German SPAC IPO. In this process, shares of an empty company shell are sold. Afterwards, the company shell looks for a takeover candidate, which is bought and thus quickly helped to go public. 468 Capital aims to present a tech startup to its shareholders for acquisition within a year.
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Rocket Internet
Rocket Internet incubates, builds and operationally develops internet-based business models. It provides operational support to its companies and helps them scale internationally.
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