Two new Special Purpose Acquisition Cmpanies (Spac) are listing on Aim italia (Italian Stock Exchange) this week and two business combinations with one Spac and one pre-booking company are listing too this week on the same market, MF Milano Finanza wrote on Saturday using BeBeez’s database.
The first date is tomorrow July 18th with PharmaNutra, a company active in the production of nutraceutic products and medical devices (see here the press release), after an agreement with bondholders of Ipo Challenger 1, a pre-booking company whose anchor investor was Ipo Club, a closed-end fund launched in May 2016 by Azimut Global Counseling (gruppo Azimut) and Electa Ventures (gruppo Electa). Bondholders have converted theird convertible bonds into PharmaNutra shares and PharmaNutra will have a 23.97% floating capital.
On Thursday July 20th Sit Group is instead expected to list on Aim Italia. SIT group is a producer of heating devices and has just merged with the Spac Industrial Stars of Italy 2.
Coming soon on the market are two new Spacs, Glenalta and Sprint, respectively on July 19th and July 21st. Sprint is exepcted to have a very good fundraising result as it did Glenalta in the last few days. Sprint already raised its fundraising target to 150 million euros from the intial 100 millions target.
Close to its final fundraising is said to be also Capital for Progress 2, the second Spac promoted by Massimo Capuano, Antonio Perricone, Marco Fumagalli and Alessandra Bianchi, a team the with a first Spac made a business combination and listed Gpi . The target for the new Spac is said to be about the same of the first one or about 50 million euros.
After Summer are then expected to arrive on the market Industrial Stars of Italy 3, after the same promoting team is listing SIT Group with Industrial Stars of Italy 2. And a new Spac is said to be in fundraising promoted by Maurizio Borletti, the heir of the Milanese family who founded iconic shopping mall La Rinascente and today owner of Grandi Stazioni.
Finally a new institutional Spac is said to be coming promoted by Intesa Sanpaolo and Dea Capital. This will be the second institutional Spac in italy after a forst one which is in fundraising now promoted by Equita sim e Private Equity Partners sgr, which is said to be targeting 100-150 million euros in fundraising.