eureKING’s Initial Public Offering

Linklaters advised eureKING on the transaction. Allen & Overy advised J.P. Morgan and Société Générale.

eureKING, a SPAC (Special Purpose Acquisition Company) developed by seven founders from the healthcare industry, including former Panasonic Healthcare CEO Michael Kloss and former Sanofi-Aventis CEO Gérard Le Fur, has finalized its listing on the professional compartment of Euronext Paris.

eureKING is supported by the investment company eureKARE SA, which specializes in the field of synthetic biology, the microbiome and in the development of a European network of “biotech studios” integrating artificial intelligence.

The company completed a fundraising round of €150 million, with the offering starting May 9 and ending May 10.

eureKING plans to use the capital increase to acquire companies specializing in the production and manufacture of biopharmaceuticals, with the ultimate goal of becoming a European leader in outsourcing in the manufacture of biopharmaceuticals.

eureKING is the first French SPAC to offer its investors a redemption premium and is also the first SPAC in France to include a transfer of shares, subject to an earn-out clause, from its majority shareholder to “cornerstone” investors.

The Linklaters team was led from Paris by Bertrand Sénéchal (Photo), partner, Luis Roth, partner, Sandra Fernandes, senior associate, Camille Rivet, associate, Romain Rihouey and Félix Laval-Sebire, in charge of capital markets aspects . Benjamin Prevost, senior associate, Zaid Bensebaa and Delphine Monnier, associates, spoke on Corporate aspects and Géric Clomes, partner, Cécile Boulé and Netanel Taid Kashani, associates, on employment law issues. Laurent Benoit, counsel, and Jihane Guyot, senior associate, were in charge of Regulatory issues, and Pauline Debré, partner, Jean-François Merdrignac, senior associate, and Raphaëlle Mottet, associate, on intellectual property issues. Cyril Boussion, partner, and Nadine Eng, senior associate, spoke on tax issues.

Olivier Thebault, Jade Billere-Mellet and Diana Billik, of Allen & Overy, advised J.P. Morgan and Société Générale, acting as global coordinators and bookrunners.

Involved fees earner: Jade Billère-Mellet – Allen & Overy; Diana Billik – Allen & Overy; Olivier Thébault – Allen & Overy; Laurent Benoit – Linklaters; Zaid Bensebaa – Linklaters; Cécile Boulé – Linklaters; Cyril Boussion – Linklaters; Géric Clomes – Linklaters; Pauline Debré – Linklaters; Nadine Eng – Linklaters; Sandra Fernandes – Linklaters; Jihane Guyot – Linklaters; Jean-François Merdrignac – Linklaters; Delphine Monnier – Linklaters; Raphaëlle Mottet – Linklaters; Benjamin Prévost – Linklaters; Camille Rivet – Linklaters; Bertrand Senechal – Linklaters; Netanel Taid Kashani – Linklaters;

Law Firms: Allen & Overy; Linklaters;

Clients: eureKING; JP Morgan; Société Générale;

Naoual Sadouqi

Author: Naoual Sadouqi