Listings of Special Purpose Acquisition Companies (“SPACs”) in Sweden

Johan Wigh, Sebastian Hellesnes and Jacob Elovsson Hultin analyse important legal issues regarding listings of so-called Special Purpose Acquisition Companies (“SPACs”) in Sweden.

Listings of Special Purpose Acquisition Companies (“SPACs”) have been popular in the US for a long time, including in the last decade. Despite high activity in the Swedish IPO market, with record breaking numbers of transaction and great demand for new IPOs (also for companies that are in early phase and not yet profitable), SPACs have yet to be introduced in Sweden. We have, however, noted an increased interest from clients around the possibility to launch a Swedish SPAC and in this memorandum, we outline the basic concept of a SPAC and describe key issues/hurdles to be considered in relation to Swedish SPAC listing projects.

Read the article here.