Special Purpose Acquisition Company
De-SPAC as seen by STB
Lukaz Samb — 5 December 2023
In its decision 858/01 of November 1, 2023 in the case of VT5 Acquisition Company AG, the Swiss Takeover Board (STB) was asked to establish its practice with regard to De-SPACs (transactions whereby a Special Purpose Acquisition Company (SPAC) acquires its target). This decision was eagerly awaited, given that VT5 Acquisition Company AG (VT5) is the first SPAC under Swiss law. First of all, for a brief reminder of what a SPAC is and its specific features, please consult the[...]