Lanvin Set For New York Listing Via SPAC Deal
The fashion firm has been valued at US$1.5 billion, and expects to raise up to $544 million in the upcoming deal.
The post Lanvin Set For New York Listing Via SPAC Deal appeared first on LUXUO.
Global luxury fashion group Lanvin has announced that it will be entering an agreement that will list Lanvin Group on the New York Stock Exchange. The agreement will see the industry stalwart merge with Primavera Capital Acquisition Corporation, an affiliate of Primavera Capital Group which is a leading global investment firm with over US$17 billion of assets under management.
The move makes Lanvin the second high-profile fashion company to pursue a special purpose acquisition company (SPAC) deal since Ermenegildo Zegna’s move late last year. The new deal between Lanvin Group and Primavera Capital Acquisition Corporation values the fashion firm at US$1.5 billion, according to a statement.
READ MORE: Lanvin acquisition Battle between Qatari Mayhoola and Chinese Fosun
Lanvin Group expects to raise up to $544 million in the deal, including up to $414 million of cash in the trust account and fully committed PIPE subscription, as well as forward purchase agreements of $130 million from investors. This includes Fosun International Limited, ITOCHU Corporation, Stella International Limited, Baozun Hong Kong Investment Limited, Golden A&A, Aspex Master Fund and Sky Venture Partners L.P. According to a statement, the proceeds from this deal will be used to “acce...
The post Lanvin Set For New York Listing Via SPAC Deal appeared first on LUXUO.
Global luxury fashion group Lanvin has announced that it will be entering an agreement that will list Lanvin Group on the New York Stock Exchange. The agreement will see the industry stalwart merge with Primavera Capital Acquisition Corporation, an affiliate of Primavera Capital Group which is a leading global investment firm with over US$17 billion of assets under management.
The move makes Lanvin the second high-profile fashion company to pursue a special purpose acquisition company (SPAC) deal since Ermenegildo Zegna’s move late last year. The new deal between Lanvin Group and Primavera Capital Acquisition Corporation values the fashion firm at US$1.5 billion, according to a statement.
READ MORE: Lanvin acquisition Battle between Qatari Mayhoola and Chinese Fosun
Lanvin Group expects to raise up to $544 million in the deal, including up to $414 million of cash in the trust account and fully committed PIPE subscription, as well as forward purchase agreements of $130 million from investors. This includes Fosun International Limited, ITOCHU Corporation, Stella International Limited, Baozun Hong Kong Investment Limited, Golden A&A, Aspex Master Fund and Sky Venture Partners L.P. According to a statement, the proceeds from this deal will be used to “acce...
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