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Crystal Peak SPAC raises $150 million in Amsterdam IPO

By Reuters

AMSTERDAM – Crystal Peak Acquisition, a special purchase acquisition company, said it has raised $150 million in a private placement and will begin trading on Euronext Amsterdam on Tuesday.

Crystal Peak, a SPAC backed by Michael Tobin, Rupert Robson and Seth Schelin, said in a statement it would target buying a European technology company.

SPACs are shell companies that raise funds in an initial public offering with the aim of merging with a private company, which becomes public as a result, providing an alternative to traditional IPOs.

“In Crystal Peak Acquisition, we are creating a gateway to the public markets for European and wider EMEA technology companies that are benefiting from the digitalisation megatrend,” Tobin said in a statement.

The Crystal Peak offering was of 15 million “units,” each representing one share and one warrant, for $10 each.

Jefferies was the global coordinator and bookrunner for the deal, with Van Lanschot Kempen acting as listing agent.