At the moment, almost all Spacs are in the red, and investors are hardly interested in new vehicles.
(Photo: Reuters)
Frankfurt The start-up Tado has developed an app with which heating and air conditioning can be controlled intelligently. In January, the Munich-based company announced that it intended to go public through the merger with an empty company shell, a so-called Spac. But this Friday the deal was canceled.
This shows: Spac deals are currently hardly possible. It would be the first merger of a company with an already listed Spac in Germany since November 2021. The market is hardly showing any signs of life.
The situation in spring 2021 was completely different. There was euphoria around the topic of Spacs. The acronym stands for Special Purpose Acquisition Company, a special purpose vehicle that allows companies to go public through the back door without the cumbersome process of an IPO. First, the spac – an empty company shell usually put on by prominent investors or ex-bankers – is listed on the stock exchange.
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