JTC has supported the £125m launch of Disruptive Capital Acquisition Company Limited (Disruptive), a Guernsey registered Special Purpose Acquisition Company (SPAC) on the Euronext exchange in Amsterdam.
JTC will provide administration and registry services for the new vehicle. The listing of Disruptive creates a structure aimed at acquiring another company within the financial services sector throughout Western Europe and/or Northern Europe, though the potential target has not been publicly identified. It is also the first SPAC on Euronext Amsterdam to be listed and traded in pounds sterling.
SPACs are publicly traded vehicles with the sole purpose to create a merger with another publicly traded company. They have gained popularity in Europe through 2021 as a result of various regulatory changes, which have made them an attractive method for acquisitions.
James Tracey, Managing Director – Guernsey, said:
“We are delighted to have been part of Disruptive’s successful listing on Euronext and I’d like to personally thank my team for their hard work and dedication. With JTC’s presence across Europe, we were able to provide support in the Channel Islands and the Netherlands, based on the particular needs of our client.”
Dewi Habraken, Director – Netherlands, added:
“This listing further demonstrates that the appetite for SPACs in Europe is continuing to grow as regulators adapt to demands from investors and sponsors. Euronext is maintaining its position as the venue of choice for SPACs at the moment and we are pleased that Disruptive has recognised JTC’s extensive expertise with listings across European exchanges and domiciles.”
Edmund Truell, Executive Director of Disruptive and Founder of private equity firm Disruptive Capital, said:
“We are delighted to have worked with JTC to list Disruptive Capital Acquisition Company on Euronext Amsterdam. This marks a significant development for Disruptive Capital as we look forward to buying a large business in the European financial services sector; and benefitting from additional access to public capital markets.”
“Our team has decades of successful business acquisition and transformation experience, so it was the obvious choice to partner with JTC who share our high-levels of expertise and commitment to service delivery over multiple locations.”
JTC’s offices in the Channel Islands, London and Amsterdam have seen increased interest for SPACS listed on The International Stock Exchange (TISE), the London Stock Exchange (LSE) and Euronext respectively over the past year.