Transition SPAC lists on Euronext Paris

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€215 million raised
8th SPAC listing on Euronext’s markets in 2021
1st listing of a French and European SPAC dedicated to the energy transition

Paris – 22 June 2021 – Euronext today congratulates Transition, the first French Special Purpose Acquisition Company (SPAC) dedicated to the energy transition, on its listing on the professional compartment of Euronext’s regulated market in Paris (ticker code: TRAN).

The company was founded by Xavier Caïtucoli, entrepreneur and co-founder of Direct Energie, Erik Maris, entrepreneur and Advisory Partner of Advent International, and Fabrice Dumonteil, founder and president of Eiffel Investment Group, with the aim of acquiring one or more European companies in the energy transition sector, in the activities of renewable energy production and of energy efficiency. The aim of Transition is to build a new major player that is diversified and integrated into the value chain and which can meet the challenges and changes to come in the energy sector in the next thirty years.

Transition was listed through the admission to trading of the 21,500,000 units^[1] that compose its capital. The reference price of the units was set at €10. In total, Transition has raised €215 million in a private placement from qualified investors.

Xavier Caïtucoli, CEO and Co-founder, said: “The success of this investment reflects the confidence of investors in the quality of our team, in the relevance of our project and its ability to create value, and in the phenomenal growth potential of an energy sector undergoing profound change, particularly in Europe. As the first European listed SPAC dedicated to the energy transition, Transition will enable mid-size European companies to change scale and become champions of climate issues and the necessary transformations to come in order to achieve the global objectives of carbon neutrality.”

Caption: Xavier Caïtucoli, CEO and Founder of Transition, and Fabrice Dumonteil, Chairman and CEO of Eiffel Investment Group and Co-Founder, and their team, rang the bell during a ceremony this afternoon together with Delphine d’Amarzit, Chairman and Chief Executive Officer Euronext Paris, to celebrate the listing of Transition.

[1] Each of the unit is composed of a market share and a market warrant, which can be convertible in ordinary shares after the initial acquisition.

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