Hiro Capital (Hiro), which invests in videogames, esports, streaming and connected fitness innovators, has successfully listed its first SPAC, Hiro Metaverse Acquisitions I.S.A., on the London Stock Exchange (LSE).
With a high-profile portfolio that has included extended reality studio Polyarc and leading virtual reality fitness platform FITXR, the initial public offering (IPO) has raised over £115m which will be used to acquire a company in the games and technology industry.
JTC’s extensive experience with Special Purpose Acquisition Company (SPAC) listing has guided Hiro’s strategy prior to IPO, ensuring a smooth and well-organised process. JTC will continue to provide high quality ongoing administration through the SPAC lifecycle including LSE Compliance (London) and Administration, Corporate Governance, Company Secretarial and Financial Reporting (Luxembourg).
SPACs are primarily set up to raise capital through an IPO to subsequently acquire or merge with an existing publicly traded company. They present a complex challenge to meet strict regulatory requirements, operational obligations, and careful planning to ensure success which requires third-party partnerships with experienced and knowledgeable operators.
Dewi Habraken, Senior Director – Netherlands, said:
“We are delighted to have been part of Hiro’s successful listing on the London Stock Exchange. Over the past year, we have seen a huge increase in SPACs and as a result have had extensive experience in making this process as easy as possible for our clients. Hiro’s SPAC is one of the first successfully listed on the London Stock Exchange and we are proud that we have supported the IPO and provide ongoing assistance. With our presence across Europe, we have been able to provide support across Luxembourg, Jersey and the UK to successfully meet Hiro’s specific requirements.”
Andy Barber, Financial Director of Hiro, said:
“We are delighted to be listing Hiro Capital on the London Stock Exchange and the appetite in the market shows how seriously our industry is being taken by investors. This listing marks the beginning of the next chapter for Hiro as we continue to unearth talented companies and unique propositions in the gaming industry. We are grateful to JTC for their support and professionalism throughout the IPO process.”
JTC has over 30 years’ experience in listing on exchanges across Europe including Euronext, the LSE, and The International Stock Exchange (TISE). To find out more about developments on SPAC listings in Europe or London, please get in touch with Dewi directly.