Earlier this week Luxembourg-based GP Bullhound Acquisition I SE announced their intentions to list a special purpose acquisition company (SPAC) on the Amsterdam Euronext, and as of this morning, officially went live.
In doing so, the company has raised €200 million with units priced at €10 apiece. The shell company intends to buy EEA Member State, United Kingdom, Switzerland, or Israel-based companies focusing on software, digital media, digital commerce, and fintech, with valuations north of €800 million and up to €2 billion.
Following a year that saw nothing less than 22 European SPAC listings, GP Bullhound Acquisition I SE now has the honour of being the first to list in 2022.
As the name would infer, the London-based investment firm GP Bullhound is the sponsor of the SPAC, with GP Bullhound I SCSp acting as founder. The SPAC is then in turn advised by GP Bullhound's three co-founders and managing partners, Hugh Campbell, Manish Madhvani, and Per Roman.
“We are very pleased with the backing from the public market investors in this placing. This SPAC is a result of our vision and belief at GP Bullhound in the transformative power of technology,” commented the partners in a joint statement. “We have more than 20 years of experience in working with category leaders in the industry thus bringing in an unmatched competitive advantage. We are excited to find the next tech titan in innovation in the underserved European ecosystem and deliver exponential growth by providing our expertise, capital, and access to the equity capital markets.”