17 Jun 2021

NK5 prepares the launch of the first SPAC in Spain

NK5 is working with several advisors for this project, for which it wants to raise 100 million.

NK5, the advisory firm lead by Juan José Nieto, is studying the launch of what would become the first SPAC to be listed in Spain. This type of company, which is very common in other countries such as the USA, is born with a special buyout purpose. In other words, with the intention of raising capital for a potential merger or acquisition of another company, for which they are given a period of two years. The idea is that this SPAC will have a size of 100 million, as different financial sources have explained to elEconomista.

Although its intention was to launch this company before the summer, the delay in the regulation for this type of companies in the CNMV has slowed down the process, which is expected to take between the third and fourth quarter of this year. However, NK5 already has financial, legal and tax advisors for the launching of this project, with whom it is already analyzing possible transactions, according to the same sources.

It should be recalled that the CNMV has been in favor of the regulation of this type of company and the Government is already working on the draft bill of the Securities Market Law (Ley del Mercado de Valores – LMV), which aims to promote the IPOs of SPACs and which is currently in now being analyzed.


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