Press release
EC Assets to list $250 million Tech SPAC in New York
EC Assets plans to lists a SPAC on NASDAQ with the focus on European Tech companies
The prospectus and the listing application for this are to be filed with the SEC in New York before the end of March.
EC Assets intends to issue a total of 25 million units exclusively to institutional investors at a price of $10.00 per unit, representing a placement volume of $250 million.
The period of this placement is expected to be completed by the end of April 2021.
With its expertise in place, the team intends to acquire a late-stage, IPO-ready tech company with primary operations in Europe, the United Kingdom, and the United States.
The investment focus is on SaaS (Software as a Service), WorkTech and FinTech. The acquisition will happen within a maximum of two years, and a billion-dollar deal is said to be conceivable.
The target company is expected to have an equity value of between $900 million and $4 billion, to be paid in new shares and/or cash, including from the proceeds of a possible future private placement in connection with the business combination.
Ludwig Klatzka: "The European technology sector offers extremely attractive opportunities. Compared to other sectors, investments in the technology sector have historically delivered excellent returns.
We believe EC Assets SPAC is an excellent partner for a late-stage tech company looking to continue its growth story as a publicly traded company. Through our investment, a new European tech champion will emerge."
The SPAC will be named EC Assets Acquisition Corporation and will be traded on the NASDAQ stock exchange in New York under the ticker symbol ECAS.
In charge for the project is the Luxembourg team of EC Assets with Ludwig Klatzka as CEO
To contact the author of this story with feedback or news, please email John Smithfield at office@ecassets.com
EC Assets
48 Curzon Street
- 4th floor -
London W1J 7UL
United Kingdom
+44 . 20 8798 0342
office@ecassets.com
Press contact:
Ludwig Klatzka / CEO
+44 . 20 8798 0342
office@ecassets.com
Established 1994, EC Assets a leading global investment business and a committed partner.
We are an equity investor seeking investments in founders with greatest visions, in applications that are truly mind-changing, in products that are really enabling to all of us, and companies that are not only honestly thinking but sustainably acting.
Our mission is to invest in great assets and exciting companies to create long-term value.
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