Obotech follows the listings of spacs Lakestar in February and 468 Spac in April.

But the third listing of a Luxembourg spac also marks a premiere, as it aims to raise €200m to acquire a company in the real estate technology (proptech) and climate technology (climatech) sectors within the next 24 months.

Sponsored by Obotritia Capital KGaA and led by an experienced management team, including Rolf Elgeti (chairman and CEO as well as founder and managing partner of Obotritia Capital KGaA), Ben Barnett (CIO), Lars Wittan (CFO) and Richard Kohl (CAO), OboTech Acquisition is regulated by the CSSF.

A fourth spac, PrimePulse, is already in the pipeline after registering in the commercial register, co-founded by Klaus Weinmann who has been supporting German SMEs in their development for 25 years, for example with digital transformation partner Cancom.

Weinmann is combining Cancom’s business activities with those of his business partners, Raymond and Stefan Kober, and their family business AL-KO.

A spac listing is an alternative to the classic IPO (initial public offering). It is a shell company without its own operating business, which aims to raise capital through a listing and use the proceeds to take over a non-listed company within a limited period of time and thereby indirectly taking it public by listing it via the spac.

This article was first published in French on Paperjam. It has been translated and edited for Delano.