Seeking international success stories
The strategy is to merge with a Nordic technology company with high growth potential
Lifeline SPAC I is the first Nordic SPAC that aims to identify and acquire a technology-driven target company with high growth potential. Our team has significant experience in building international success stories. Our aim is to merge with a Nordic growth company and support the implementation of its growth strategy with proceeds from the listing and by utilizing the expertise of our broad international network.
Subscription period for the public offering was October 5–12, 2021.
What is a SPAC?
A SPAC (Special Purpose Acquisition Company) is a company founded for the purpose of corporate acquisitions with the objective of raising capital through a public offering in order to acquire an unlisted target company or several companies within a certain period of time, usually 6–36 months from the SPAC’s own listing.
Read more about the SPAC operating model
Information on the IPO
Lifeline SPAC I raised gross proceeds of EUR 100 million by offering a maximum of 10,000,000 new series A shares in the company. The offering of Lifeline SPAC I Plc was oversubscribed and the listing was completed as planned. Trading in the series A shares commenced on 15 October 2021
The offering consisted of a public offering to private individuals and entities in Finland and an institutional offering to institutional investors in Finland and, in accordance with applicable laws, internationally outside the United States.
Lifeline SPAC I Plc offered series A shares in the offering for a subscription price of EUR 10.00 per share.
The total number of shareholders increased to over 2,300 shareholders after the Offering.
Cornerstone investors
The subscriptions from certain cornerstone investors, who had given their subscription commitments prior to the listing for an aggregate amount of EUR 68.9 million, formed a significant part of the Institutional Offering. The cornerstone investors comprised: Ahlström Invest B.V., G.W. Sohlberg Corporation, Varma Mutual Pension Insurance Company, Mandatum Asset Management Ltd EUR, certain funds managed by Sp-Fund Management Company Ltd, Rettig Group Ltd, Visio Varainhoito Oy and certain funds managed by WIP Asset Management Ltd. Pursuant to their terms, the subscription commitments were accepted in full.
Important dates
| Subscription period for the offering commenced | October 5, 2021 at 10:00 a.m. (Finnish time) |
| Subscription period of the public offering ended | October 12, 2021 2021 at 4:00 p.m. (Finnish time) |
| Announcement of the final results of the offering | October 14, 2021 |
| Offer shares subscribed for in the public offering registered in the investors’ book-entry accounts | October 15, 2021 |
| Trading in the company’s series A shares commenced on the SPAC segment of the Nasdaq Helsinki regulated market | October 15, 2021 |
To consider
FIN-FSA approved the Finnish language prospectus on 4 October 2021.
Materials
Offering Circular
Marketing Brochure (in Finnish)
Company presentation October 5, 2021 (In Finnish)
Audited Financial Statements and Auditor’s Report
Agreement for the establishment of the Company (in Finnish)
Releases
Stock exchange release October 14, 2021: The offering of Lifeline SPAC I Plc has been oversubscribed and the listing will be completed as planned – trading in the series A shares is expected to commence on 15 October 2021
Stock exchange release October 13, 2021: The institutional offering of Lifeline SPAC I Plc has been oversubscribed and the subscription period discontinued – trading on the SPAC segment of the regulated market of Nasdaq Helsinki is expected to commence on 15 October 2021
Stock exchange release October 5, 2021: Lifeline SPAC I Plc has applied for its series A shares to be listed on the SPAC segment of the regulated market of Nasdaq Helsinki
Press release October 5, 2021: Lifeline SPAC I Plc announces further information about its contemplated initial public offering and publishes the prospectus related to the listing of its series A shares on the SPAC segment of the regulated market of Nasdaq Helsinki
Press release September 28, 2021: Lifeline SPAC I Ltd is planning an initial public offering and listing on the SPAC segment of the regulated market of Nasdaq Helsinki