S&C Advises Lakestar SPAC in Europe’s First Tech-Focused SPAC IPO

February 19, 2021

Luxembourg-based Lakestar SPAC I raised €275 million in a significantly oversubscribed private share placement on February 18. The company intends to acquire a European late-stage growth company in the technology sector with an equity value between €750 million and €4 billion. Lakestar SPAC I is the largest SPAC IPO ever in Germany and the first SPAC IPO in Germany in the last 10 years. It was one of the first transactions outside the United States to mirror traditional U.S.-style structure in all relevant aspects.

Trading on the regulated market of the Frankfurt Stock Exchange will begin on February 22.

Lakestar SPAC I is sponsored by German venture capitalist Dr. Klaus Hommels, founder and chairman of Lakestar Advisors. The S&C team advising Lakestar SPAC I includes Carsten Berrar, Konstantin Technau, Clemens Rechberger, Lars Rueve and Stephan Rauch.