eureKING SPAC lists on Euronext Paris

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  • SPAC listing raises €150 million
  • 1st healthcare SPAC in France and 1st European SPAC dedicated to biomanufacturing
  • 6th listing of a SPAC on Euronext Paris since 2020
  • 3rd listing of a SPAC on Euronext markets in 2022

Paris – 12 May 2022 – Euronext today celebrates the listing of eureKING, the first French healthcare Special Purpose Acquisition Company (SPAC) dedicated to biomanufacturing, on the regulated market of Euronext Paris (ticker code: KINGS).

eureKING SPAC was founded by an international team of healthcare experts, including Michael Kloss, former Chairman and CEO of Panasonic Healthcare, Gérard Le Fur, former CEO of Sanofi, Alexandre Mouradian, Co-Founder and Administrator of eureKARE, Christophe Jean, Strategic Partner of the private equity fund Oraxys Environment, Hubert Olivier, President for France and Belgium of the pharmaceutical distribution and healthcare services group McKesson, and Rodolphe Besserve, CEO of eureKARE, through and on behalf of his affiliated entity, which is the first European network of "start-up studios" specialising in the creation, financing and support of innovative biotechnology companies.

eureKING's ambition is to create a European bio-CDMO (Contract Development Manufacturing Organisation) that will be listed on Euronext Paris and will be a major player in the field of subcontracting the shaping and manufacturing of biopharmaceutical products, in order to support the development of new innovative therapies.

eureKING was listed through the admission to trading and direct listing of 15,000,000 preference shares and 15,000,000 stock warrants. The placement was issued to qualified investors, for €10.00 per unit. The total amount raised was €150 million.

Michael Kloss, co-founder and CEO of eureKING, said: “We are pleased to present the ambition of eureKING, whose main mission will be to support the development in Europe of one of the most promising sectors of the healthcare industry, and to address the growing need to meet the production challenges of the biopharmaceutical industry. eureKING has been created by an international management team composed of experienced healthcare industry talent, 100% dedicated to the project and its development strategy, supported by a Board of Directors with complementary skills in the pharmaceutical and financial fields. Through this transaction, eureKING intends to invest in and acquire companies specialising in the production and manufacture of biopharmaceutical products on behalf of other companies in the healthcare industry.”

Stéphane Boujnah, CEO and Chairman of the Managing Board of Euronext N.V, said: “We are pleased to welcome the eureKING SPAC to the Euronext markets today. This innovative financing method will support eureKING’s ambitious projects in the field of healthcare, a sector where investment in innovation is crucial in the post-Covid era. eureKING will benefit from the market depth of Euronext, which has the biggest liquidity pool in Europe. Euronext is the preferred listing venue for French and European SPACs; in 2021, nearly 50% of the SPACs listed in Europe were listed on the Euronext markets.

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Caption: Michael Kloss, Co-Founder and CEO of eureKING, and his team rang the bell during a ceremony this morning, in the presence of Delphine d’Amarzit, CEO of Euronext Paris, to celebrate the listing of the SPAC.

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About Euronext 
Euronext is the leading pan-European market infrastructure, connecting European economies to global capital markets, to accelerate innovation and sustainable growth. It operates regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal. With close to 2,000 listed issuers and around €6.6 trillion in market capitalisation as of end March 2022, it has an unmatched blue-chip franchise and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets, one of Europe’s leading electronic fixed income trading markets and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities, FX, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. The Group provides a multi-asset clearing house through Euronext Clearing, and custody and settlement services through Euronext Securities central securities depositories in Denmark, Italy, Norway and Portugal. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. In addition to its main regulated market, it also operates a number of junior markets, simplifying access to listing for SMEs.  
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