VT5 Acquisition Company AG’s Initial Public Offering

Baker McKenzie advised VT5 Acquisition Company AG on the offering. Niederer Kraft Frey advised EFG Bank AG. Advestra advised Cred­it Suisse and UBS.

VT5 Acquisition Company AG, a special purpose acquisition company (SPAC), executed a structuring and initial public offering (IPO).

VT5 sold all 20,000,000 offered units each consisting of one Class A Share with a nominal value of CHF 0.1 and one third of a redeemable warrant at a price of CHF 10 per unit, raising gross proceeds of CHF 200 million. The net proceeds in the amount of CHF 198 million will be held in escrow to be used in connection with the acquisition of one or (if at the same time) more operating companies or businesses within two years of the IPO.

The listing of the Class A Shares and the redeemable warrants in accordance with the Standard for SPACs of SIX Swiss Exchange and admission to trading took place on 15 December 2021. Credit Suisse AG and UBS AG acted as joint global coordinators on the transaction with EFG Bank AG acting as co-manager and escrow agent and Privatbank IHAG Zürich AG as selling agent and escrow agent.

SIX Exchange Regulation, together with FINMA, recently revised the listing rules applying to SIX Swiss Exchange to accommodate for Swiss SPACs.

The Baker McKenzie team was led by partner Dr. Matthias Courvoisier (Picture) and Dr. Yves Mauchle (senior associate, capital markets) and comprised Andrea Bolliger (of counsel, tax), Benedikt Hadorn, Bettina Klein, Jan Lusti, Tanja Schmid, Beau Visser (all associates, capital markets) and Manuel Hirlinger (trainee). On an international level, the team included Adam B. Farlow (partner, London), François-Xavier Naime (partner, Paris), Tim Alferink (partner, Amsterdam) and Enrique Carretero (partner, Madrid).

The NKF team comprised partner Philippe Weber and senior associate Franziska Albers-Schönberg (both Corporate/Capital Markets).

The Advestra team included Thomas Reut­ter, Alex­an­der von Jein­sen, Annette Weber, Anna Capaul, Roland Truffer and Annina Ham­mer (all Cap­it­al Mar­kets) and Peter Ried­weg and Markus Müh­le­mann (Tax).

Involved fees earner: Anna Capaul – Advestra; Annina Ham­mer – Advestra; Markus Müh­le­mann – Advestra; Thomas Reut­ter – Advestra; Peter Ried­weg – Advestra; Roland Truffer – Advestra; Alex­an­der von Jein­sen – Advestra; Annette Weber – Advestra; Tim Alferink – Baker McKenzie; Andrea Bolliger – Baker McKenzie; Enrique Carretero – Baker McKenzie; Matthias Courvoisier – Baker McKenzie; Adam Farlow – Baker McKenzie; Benedikt Hadorn – Baker McKenzie; Bettina Klein – Baker McKenzie; Jan Lusti – Baker McKenzie; Yves Mauchle – Baker McKenzie; François-Xavier Naime – Baker McKenzie; Tanja Schmid – Baker McKenzie; Beau Visser – Baker McKenzie; Franziska Albers-Schönberg – Niederer Kraft Frey Ltd; Philippe Weber – Niederer Kraft Frey Ltd;

Law Firms: Advestra; Baker McKenzie; Niederer Kraft Frey Ltd;

Clients: Credit Suisse; EFG International; UBS; VT5 Acquisition Company ;