The number of the company’s shareholders will increase to more than 2,300.
Spac company Lifeline Spac I’s IPO on the Helsinki Stock Exchange has been oversubscribed, the company says in a press release.
According to the company, the issue sparked “significant” interest among a number of institutions and funds, as well as genealogical investment companies and private investors.
Spac means a listed or unlisted company that has no business and has raised funding from investors to make an acquisition.
Lifeline Spac will receive one hundred million euros in gross assets from the IPO. They aim to acquire a high-growth company in the technology sector within 2-3 years.
The company accepted the subscription commitments given in the public offering in full up to 50 shares and in excess of this amount for approximately 24.5 percent of the subscription commitments made.
After the issue, the number of the company’s shareholders will increase to more than 2,300 shareholders.
Trading in the company’s share will begin on Friday.