Obotech Acquisition SE
OboTech Acquisition SE completes oversubscribed Private Placement
NOT FOR DISTRIBUTION, PUBLICATION OR FORWARDING, EITHER DIRECTLY OR INDIRECTLY, IN OR TO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION OR PUBLICATION WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS PUBLICATION. Press Release OboTech Acquisition SE completes oversubscribed Private Placement Luxembourg, 30 April 2021 – OboTech Acquisition SE (the “Company” or “OboTech Acquisition”), a Luxembourg-incorporated newly formed special purpose acquisition company (“SPAC”), is pleased to confirm that it has completed its private placement announced on 29 April 2021. The private placement was oversubscribed and raised gross proceeds of EUR 200 million through the issuance of 20,000,000 units at a price of EUR 10.00 per unit, each consisting of one share (a “Public Share”) and 1/3 warrant (a “Public Warrant”). The units were solely offered to institutional investors. Rolf Elgeti, Chairman and CEO of OboTech Acquisition: “We are delighted by the investor response to our offering. Having completed the capital raising, it is now time to mobilize our network and expertise as we engage with high quality European Proptech and Climatech businesses.” Ben Barnett, CIO of OboTech Acquisition: “We would like to thank investors for their trust and for their partnership. We aim to create value, both for our investors and potential target companies.” OboTech Acquisition was established with the objective of acquiring one operating business with principal business operations in a member state of the European Economic Area, the United Kingdom or Switzerland in the real estate technology (“Proptech”) and climate technology (“Climatech”) sectors. The targeted company is expected to have a pre-money equity value between EUR 200 million and EUR 3 billion, and the Company intends to use the proceeds from the private placement in connection with this business combination. All of the proceeds from the private placement and an additional founder subscription of founder shares and founder warrants (the “Additional Founder Subscription”) will be transferred into an escrow account. Should the escrow account be subject to negative interest rates, those will be covered by the proceeds from the Additional Founder Subscription, allowing for a redemption of the Public Shares at a price of up to EUR 10.00 per share (subject to certain conditions). The Public Shares will be admitted for trading on the regulated market (regulierter Markt) of the Frankfurt Stock Exchange (General Standard) (ticker OTA). The Public Warrants will be introduced to trading on the open market (Freiverkehr) of the Frankfurt Stock Exchange (Börse Frankfurt Zertifikate AG) (ticker OTAW). Trading of the shares and warrants is expected to commence on 4 May 2021. Settlement of the shares and warrants with private placement investors is scheduled for 5 May 2021. OboTech Acquisition SE is a Luxembourg-incorporated special purpose acquisition company established for the purpose of acquiring one operating business with principal business operations in a member state of the European Economic Area, the United Kingdom or Switzerland in the form of a merger, capital stock exchange, share purchase, asset acquisition, reorganization or similar transaction. OboTech Acquisition intends to consummate the Business Combination with a company focusing on high quality businesses with innovative products or services in the real estate technology sector and climate technology sector. OboTech Acquisition is sponsored by Obotritia Capital KGaA and led by an experienced management team with Rolf Elgeti (Chairman and Chief Executive Officer of OboTech Acquisition as well as founder and General Partner of Obotritia Capital KGaA), Ben Barnett (Chief Investment Officer), Lars Wittan (Chief Financial Officer) and Richard Kohl (Chief Administrative Officer). For more information visit www.OboTechAcquisition.com. Contact: DISCLAIMER This publication constitutes neither an offer to sell nor a solicitation to buy securities. The securities have already been sold. The listing of the Securities will be made solely by the means of, and on the basis of, a securities prospectus which is yet to be published. The securities prospectus will be published promptly upon approval by the Luxembourg Financial Sector Supervisory Commission (Commission de Surveillance du Secteur Financier (CSSF) and will be available free of charge on the OboTech Acquisition SE website. In the United Kingdom, this publication is only being distributed to and is only directed at persons who are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), or (ii) are persons falling within Article 49(2)(a) to (d) of the Order (high net worth companies, unincorporated associations, etc.) (all such persons together being referred to as “Relevant Persons”). This publication is directed only at Relevant Persons and must not be acted on or relied upon by persons who are not Relevant Persons. Any investment or investment activity to which this publication relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. In member states of the European Economic Area the placement of securities described in this announcement was directed exclusively at persons who are “qualified investors” within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (Prospectus Regulation). The Units were not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any Retail Investor in the EEA. For these purposes, a “Retail Investor” means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments, as amended (“MiFID II”); (ii) a customer within the meaning of Directive (EU) 2016/97 of the European Parliament and of the Council of 20 January 2016 on insurance distribution, as amended, where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II. Consequently, no key information document required by Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 November 2014 on key information documents for packaged retail and insurance-based investment products (the “PRIIPs Regulation”) for offering or selling the Units or otherwise making them available to Retail Investors in the EEA has been prepared and therefore offering or selling the Units or otherwise making them available to any Retail Investor in the EEA may be unlawful under the PRIIPs Regulation. Solely for the purposes of the manufacturer’s product approval process, the target market assessment in respect of the Public Shares and Public Warrants has led to the conclusion that (i) the Public Shares are (a) compatible with an end target market of Retail Investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II, and (b) eligible for distribution through all distribution channels permitted by MiFID II and (ii) the Public Warrants are (a) compatible with an end target market of investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II, and (b) eligible for distribution to professional clients and eligible counterparties through all distribution channels permitted by MiFID II. Any person subsequently offering, selling or recommending the Public Shares and Public Warrants (a “distributor”) should take into consideration the manufacturer’s target market assessment; however, a distributor subject to MiFID II is responsible for undertaking its own target market assessment in respect of the Public Shares and Public Warrants (by either adopting or refining the manufacturer’s target market assessment) and determining appropriate distribution channels. The Units were not intended, to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any Retail Investor in the United Kingdom (“UK”). For these purposes the expression “Retail Investor” means a person who is one (or more) of the following: (i) a retail client, as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (“EUWA”); or (ii) a customer within the meaning of the provisions of the Financial Services and Markets Act 2000 (the “FSMA”) and any rules or regulations made under the FSMA to implement Directive (EU) 2016/97, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA (“UK MiFIR”). Consequently no key information document required by Regulation (EU) No 1286/2014 as it forms part of domestic law by virtue of the EUWA (the “UK PRIIPs Regulation”) for offering or selling the Units or otherwise making them available to Retail Investors in the UK has been prepared and therefore offering or selling the Units or otherwise making them available to any Retail Investor in the UK may be unlawful under the UK PRIIPs Regulation. Solely for the purposes of the manufacturer’s product approval process, the target market assessment in respect of the Public Shares and Public Warrants has led to the conclusion that (i) the Public Shares are (a) compatible with an end target market of Retail Investors and eligible counterparties, as defined in the FCA Handbook Conduct of Business Sourcebook (“COBS”) and professional clients, as defined in UK MiFIR, and (b) eligible for distribution through all distribution channels and (ii) the Public Warrants are (a) compatible with an end target market of eligible counterparties, as defined in COBS, and professional clients, as defined in UK MiFIR; and (b) all channels for distribution of the Public Warrants to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending the Public Shares and Public Warrants (a “distributor”) should take into consideration the target market assessment; however, a distributor subject to COBS is responsible for undertaking its own target market assessment in respect of the Public Shares and Public Warrants (by either adopting or refining the target market assessment) and determining appropriate distribution channels. No action has been taken that would permit an offering or an acquisition of the securities or a distribution of this announcement in any jurisdiction where such action would be unlawful. Persons into whose possession this announcement comes are required to inform themselves about and to observe any such restrictions. This release may contain forward looking statements, estimates, opinions and projections with respect to anticipated future performance of the Company (“forward-looking statements”). These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “believes,” “estimates,” “anticipates,” “expects,” “intends,” “may,” “will” or “should” or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. Forward-looking statements are based on the current views, expectations and assumptions of the management of the Company and involve significant known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Forward-looking statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Any forward-looking statements included herein only speak as at the date of this release. The Company undertakes no obligation, and do not expect to publicly update, or publicly revise, any of the information, forward-looking statements or the conclusions contained herein or to reflect new events or circumstances or to correct any inaccuracies which may become apparent subsequent to the date hereof, whether as a result of new information, future events or otherwise. The Company accepts no liability whatsoever in respect of the achievement of such forward-looking statements and assumptions. End of Media Release Issuer: Obotech Acquisition SE Key word(s): Finance
30.04.2021 Dissemination of a Press Release, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | Obotech Acquisition SE |
9 rue de Bitbourg | |
L-1273 Luxembourg | |
Luxemburg | |
ISIN: | LU2334363566 |
WKN: | A3CM9E |
Listed: | Regulated Market in Frankfurt (General Standard) |
EQS News ID: | 1191372 |
End of News | DGAP Media |