The prospectus and the listing application for this are to be filed with the SEC in New York before the end of March.
The period of this placement is expected to be completed by the end of April 2021.
With its expertise in place, the team intends to acquire a late-stage, IPO-ready tech company with primary operations in Europe, the United Kingdom, and the United States.
The investment focus is on SaaS (Software as a Service), WorkTech and FinTech. The acquisition will happen within a maximum of two years, and a billion-dollar deal is said to be conceivable.
The target company is expected to have an equity value of between $900 million and $4 billion, to be paid in new shares and/or cash, including from the proceeds of a possible future private placement in connection with the business combination.
The SPAC is named EC Assets Acquisition Corporation and will be traded on the NASDAQ stock exchange in New York under the ticker symbol ECAS.
In charge for the project is the Luxembourg team of EC Assets with Ludwig Klatzka as CEO.
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