Amsterdam – 19 November 2020 – Euronext congratulates Dutch Star Companies TWO, a special purpose acquisition vehicle, with its listing on Euronext Amsterdam today.
At opening, based on a reference price of €10 per share, the total market capitalisation of Dutch Star Companies TWO1 (ticker symbol Ordinary Share: DSC2, ticker symbol Warrants: DSCW1, DSCW2 and DSCW3) was approximately €110 million.
DSCT is the second special purpose acquisition company (SPAC) listing on the Amsterdam stock exchange. It is incorporated for the purpose of acquiring a minority stake in a single target business with principal operations in Europe, preferably in the Netherlands. Dutch Star Companies originated in 2017 by Gerbrand ter Brugge on behalf of Oaklins, Niek Hoek and Stephan Nanninga.
The listing of the first SPAC by Dutch Star Companies ONE in February 2018 has proven to be highly successful. After a legal merger, the Dutch techcompany CM.com was listed on the Amsterdam stock exchange on 21 February of this year.
Mr. Niek Hoek, Executive Director of DSC2 commented: ”DSC2’s proceeds of €110 million brings us in reach of business combinations with a market value around €400 million allowing the target company a fast, efficient stock exchange listing with limited IPO risk and lower upfront costs. The Dutch company with which we enter into such a transaction thus combines the liquidity of all its shares listed on Euronext while retaining control over its own company.”
Mr. Stephan Nanninga, Executive Director of DSC2 commented: “As of now the search for a ‘Dutch Star’, an attractive Dutch company with an EBITDA between €10 million and €75 million, good cash flow and excellent management, has started. DSC2 can offer one such ‘Dutch Star’, something very beautiful: €110 million in pure equity which may be used to finance growth, for debt redemption, or to buy out a shareholder.”
Mr. Gerbrand ter Brugge, Executive Director of DSC2 on behalf of Oaklins commented: “Realising this IPO we are now well positioned to identify a business combination that not only can benefit from the extensive network and expertise of both DSC2 Executive Directors and Oaklins, but also offering that business combination a high-quality shareholder base of established Dutch entrepreneurs, executives and private investors.”
DSC2 celebrated their IPO with a hybrid gong ceremony, denoting the opening of trading of the Company on Euronext Amsterdam.
Caption : Joop van Caldenborgh, Chairman of the Supervisory Board of Dutch Star Companies TWO B.V. rang the gong this morning during a virtual ceremony to celebrate the Initial Public Offering
1 The Offering will consist of 1,833,334 Units each consisting of six Ordinary Shares and six Warrants, at a price per Unit of €60 representing a total value of the Offering of €110 milion. Delivery of and payment for the Ordinary Shares and Warrants and the start of unconditional trading in the Ordinary Shares and Warrants is expected to take place on 23 November 2020 (the “Settlement Date”). Per Unit, the six Ordinary Shares and three Warrants shall be issued on the Settlement Date. The other three Warrants per Unit shall be issued shortly after completion of the Business Combination.
About Dutch Star Company TWO B.V. The name Dutch Star Companies refers to the objective to raise capital and to acquire a significant minority stake in a single Dutch high performing 'star company' with principal business operations in Europe, preferably in the Netherlands. Dutch Star Companies is originated in 2017 by Gerbrand ter Brugge on behalf of Oaklins, Niek Hoek and Stephan Nanninga.